Change in functional currency and IAS 21

[stella]

A company changes its functional currency from EUR to USD (with effect from 1.1.2020)
Financial statements in all previous years were presented in EUR and will now be presented in USD.
As at 31.12.2020 and 31.12.2019 there is a payable balance in original currency other than USD and EUR (for example CHF).
As at 31.12.2020 this balance will have to retranslated in the new currency USD and a forex difference will be recognised in profit or loss? The change in the fuctional currency does not affect this treatment at year end under IAS 21 correct?

[DJP]

Yes, you are correct.

[stella]

Thank you