Pages

Monday, 8 April 2013

Understanding IAS 29 per PricewaterhouseCoopers: Correction 11: Monetary amounts per se (meaning all values in the economy) are not expressed in terms of a relatively stable foreign currency.


Understanding IAS 29 per PricewaterhouseCoopers: Correction 11: Monetary amounts per se (meaning all values in the economy) are not expressed in terms of a relatively stable foreign currency.

Monetary amounts are expressed in terms of a relatively stable foreign currency.’

PricewaterhouseCoopers Understanding IAS 29 2006 p3

Correction

 All monetary amounts per se (meaning all values in the economy) are not expressed in terms of a relatively stable foreign currency.

All local currency monetary items (local currency bank values, bank statements, cheques, local currency loans, etc.) are not expressed in terms of a relatively stable foreign currency. They are expressed in local currency values.

Most variable real value non-monetary items are expressed in terms of a relatively stable foreign currency.


Nicolaas Smith

Copyright (c) 2005-2013 Nicolaas J Smith. All rights reserved. No reproduction without permission.