FOREIGN EXCHANGE

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July 10, 2021 at 11:55 am #627361
shaunak22
Participant
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Why aren’t non monetary assets and liabilties retranslated at the clsoing rate unllike monetary assets?

why are they held at the historical rate?
July 14, 2021 at 8:17 pm #627750
P2-D2
Keymaster
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Hi,

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
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