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

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