In its comment letter, EFRAG welcomes the guidance proposed in the Draft Interpretation, as it will clarify the accounting for foreign currency transactions in which consideration was received or paid in advance of the recognition of the related asset, expense or income. EFRAG also agrees with the proposed consensus and believes it is consistent with the underlying principles in IAS 21 The Effects of Changes in Foreign Exchange Rates.

The feedback statement describes the main comments received by EFRAG in response to the draft comment letter and how these comments were considered by EFRAG in finalising its comment letter to the IASB.


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