One gives guidance on how uncertainty over income tax treatments should affect the accounting for income taxes and the other addresses which exchange rate should be used to report foreign currency transactions when payment is made or received in advance.

Interpretations form part of the authoritative International Financial Reporting Standards (IFRS) requirements. They are developed by the Interpretations Committee, which works with the International Accounting Standards Board (IASB) to provide guidance on specific implementation issues, helping those using IFRS and supporting consistency in application.

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