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'). | |||
== See also == | == See also == | ||
* [[Non-monetary items]] | * [[Exchange difference]] | ||
* [[Foreign exchange]] | |||
* [[IAS 21]] | |||
*[[Monetary]] | |||
*[[Monetary asset]] | |||
*[[Monetary liability]] | |||
*[[Non-monetary items]] | |||
* [[Translation risk]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Risk_reporting]] | |||
[[Category:Cash_management]] | |||
[[Category:Financial_products_and_markets]] | |||
Latest revision as of 00:30, 12 March 2023
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').
