IAS 21 standardises the treatment of transactions denominated in foreign currency. The accounting methods in use depend upon whether the item(s) concerned are monetary or non-monetary items. Which of the following are 'monetary items' as far as IAS 21 is concerned? A. Amounts payable to a...
Summary This chapter describes the IAS 21 and the effects of changes in foreign exchange rates. Certain rules of IAS 21 use the terms monetary and non-monetary. It is necessary to understand the criteria for classifying assets and liabilities as monetary items or as non-monetary items. Monetary...
IAS 21 standardises the treatment of transactions denominated in foreign currency. The accounting methods in use depend upon whether the item(s) concerned are monetary or non-monetary items. Which of the following are 'monetary items' as far as IAS 21 is concerned?A. Amounts payable to a...
C. Non-monetary assets which have been revalued are translated using the rate in force at the date of the revaluation.D. Non-monetary items are recorded at historical cost and retranslated using the rate in force at the reporting date. 正确答案:A,B,D 分享到: 答案解析: The correct ...
Exchange rate gains or losses on non-monetary items are recognized consistently with the recognition of gains or losses on an item itself.For example, when an item is revalued with the changes recognized in other comprehensive income, then also exchange rate component of that gain or loss is ...
foreign currency monetary amounts should be reported using the closing rate. Non-monetary items measured at historical cost should be reported using the exchange rate at the date of the transaction. Non-monetary items carried at fair value, however, should be reported at the rate that existed wh...
IAS 21, non-financial instruments could be interpreted as carrying no foreign currency risk. Under IAS 21, certain monetary items include executory contracts, which do not meet the definition of a financial instrument. These items would be translated at the...
3.3 Summary of IAS 21 Translation Rates. 3.3.1 Monetary Versus Non-Monetary Items. 3.3.2 Translation Rates. 3.4 Foreign Currency Transactions. 3.4.1 Summary of Most Popular Hedging ... J. Ramírez 被引量: 12发表: 2007年 IAS 21 The Effects of Changes in Foreign Exchange Rates - A Closer...
(b) non-monetary items which are carried in terms of historical cost denominated in a foreign currency should be reported using the exchange rate at the date of the transaction; and (c) non-monetary items which are carried at fair value denominated in a foreign currency should be reported ...
[IAS 21.21-22] At each subsequent balance sheet date: [IAS 21.23] Foreign currency monetary amounts should be reported using the closing rate. Non-monetary items carried at historical cost should be reported using the exchange rate at the date of the transaction. Non-monetary items carried at...