- This topic has 0 replies, 1 voice, and was last updated 4 years ago by
.
Viewing 1 post (of 1 total)
- Posts
Dear Tutor and all,
As per standard IAS 21, non-monetary items do not need to be re-translate, why in above exam answer stating that the customer contracts shall be retranslated @ closing rate for the year end reporting, as well as the goodwill will be retranslated too? Aren’t both customer contracts (intangible asset) and goodwill should be non-monetary items, why need to be retranslated?
In addtion, even need to be retranslated, why the gain on exchange does not go to P/L, instead it goes to enquity (for customer contract)?
Viewing 1 post (of 1 total)
- You must be logged in to reply to this topic.