Monetary asset and Monetary authority: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Create page - source - IAS 21 - https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-21-the-effects-of-changes-in-foreign-exchange-rates.pdf?bypass=on)
 
imported>Doug Williamson
m (Add link.)
 
Line 1: Line 1:
''Accounting for the effects of changes in foreign exchange rates.''
(MA).


The essential feature of a monetary asset is that it is a right to receive a fixed - or determinable - number of units of currency.
A national or supranational body with responsibility for:


Monetary assets include cash, loans and debtors.
*Issuing currency
*Maintaining and managing international reserves, including those resulting from transactions with the International Monetary Fund


Under IAS 21, monetary items are translated at the foreign exchange rate which applies on the balance sheet reporting date (the 'closing rate').
 
The role of monetary authority is often undertaken by a central bank.
 
In other cases, operations may be undertaken by a currency board, or other monetary agency.




== See also ==
== See also ==
* [[Cash]]
* [[Bank of England]]
* [[Debtors]]
* [[Bank supervision]]
* [[Exchange difference]]
* [[Central bank]]
* [[Foreign exchange]]
* [[Direct participant in an IFTS]]
* [[IAS 21]]
* [[euro zone]]
*[[Loan]]
* [[European Central Bank]]
*[[Monetary]]
* [[Federal Reserve Bank]]
*[[Monetary items]]
* [[Hong Kong Monetary Authority]]
*[[Monetary liability]]
* [[International Monetary Fund]]
*[[Non-monetary items]]
* [[Lender of last resort]]
* [[Translation risk]]
* [[MA]]
* [[Market maker of last resort]]
* [[Monetary Authority of Singapore]]
* [[Oversight of payment systems]]
* [[Quantitative easing ]]
* [[RBA]]
* [[Reserves]]
* [[Reserves account]]
* [[Reserve currency]]
* [[Riksbank]]
* [[Supranational]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Manage_risks]]

Revision as of 14:28, 18 November 2020

(MA).

A national or supranational body with responsibility for:

  • Issuing currency
  • Maintaining and managing international reserves, including those resulting from transactions with the International Monetary Fund


The role of monetary authority is often undertaken by a central bank.

In other cases, operations may be undertaken by a currency board, or other monetary agency.


See also