Monetary items: Difference between revisions
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imported>Doug Williamson (Correction and state significance of classification.) |
imported>Doug Williamson (Classify page.) |
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== See also == | == See also == | ||
* [[Foreign exchange]] | |||
* [[IAS 21]] | * [[IAS 21]] | ||
* [[Monetary]] | * [[Monetary]] | ||
* [[Non-monetary items]] | * [[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]] | |||
Revision as of 15:05, 22 August 2019
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').
