AASB 121 The Effects of Changes in Foreign Exchange Rates 51-54: Exchange difference and currency disclosures: disclose exchange differences in profit or loss (other than on FVTPL instruments) and the net differences in OCI with a reserve reconciliation, state and explain any presentation currency different from the functional currency, and disclose and explain a change in functional currency

What does 51-54 require?

In a group, references to functional currency in these disclosures mean the parent's. The entity discloses the exchange differences taken to profit or loss, leaving out those on AASB 9 instruments whose fair value changes already go to profit or loss, and the net exchange differences recognised in OCI and accumulated in equity, with a reconciliation of that reserve from opening to closing balance. Where the presentation currency differs from the functional currency, the entity says so, names the functional currency and gives the reason for the choice. Where the group's own functional currency, or that of a significant foreign operation, changes, the entity discloses the change and why.