Monetary items: Difference between revisions
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''Accounting.'' | ''Accounting for the effects of changes in foreign exchange rates.'' | ||
Monetary items include cash, loans, debtors, creditors and similar assets and liabilities. | |||
Under IAS 21, monetary items are translated at the foreign exchange rate which applies on the balance sheet reporting date (the 'closing rate'). | |||
Revision as of 13:57, 2 May 2018
Accounting for the effects of changes in foreign exchange rates.
Monetary items include cash, loans, debtors, creditors and similar assets and liabilities.
Under IAS 21, monetary items are translated at the foreign exchange rate which applies on the balance sheet reporting date (the 'closing rate').
