The application of the lower of cost and net realizable value requirement to the translated financial statements requires different treatment with regard to the two classifications of foreign operations described in IAS 21 Explain fully ...

If the foreign operation is selfsustaining all assets are translated using the current ex ...

The application of the lower of cost and net realizable value requirement to the translated financial statements

Question:

The application of the lower of cost and net realizable value requirement to the translated requires different treatment with regard to the two classifications of foreign operations described in IAS 21. Explain fully.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...