Why aren't non monetary assets and liabilties retranslated at the clsoing rate unllike monetary assets?
why are they held at the historical rate?
FOREIGN EXCHANGE
5y ago#1Hi,
Monetary items will be settled for in cash and so should be translated to find their worth today.
Non-monetary items like PPE will not be settled for in cash and so will not be translated and are left at the historic rate.
Thanks