Singapore legislation
Regulation 8
Regulation 8
Conversion of amount not in presentation currency into presentation currency for comparison with euros amount
Subregulation 1
This regulation applies where, in order to compare an amount relating to an entity (Y) that is not in the presentation currency to a figure expressed in the Act in euros, that amount has to be first converted into the presentation currency pursuant to section 9(10)(a).
Subregulation 2
That amount is to be converted into the presentation currency in accordance with the applicable rules (including any applicable guidance for hyperinflation) in the applicable financial accounting standards.
Subregulation 3
Paragraph (2) applies whether or not the applicable financial accounting standards require the amount to be converted into the presentation currency.
Subregulation 4
In this regulation, “applicable financial accounting standards” has the meaning given by regulation 5(5), with the reference to X replaced with Y.