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Hello…
Can you help me understand the concept of monetary and non-monetary items in this accounting standard?
One last question…
Can I use the Kaplan P2 Study Text which was valid until June 2015 for the December 2015 exam?Thanks!
Monetary / non-monetary? Receivables, payables, bank balance, cash, overdraft = monetary
Anything else? Non-monetary
Yes, you should be ok with Kaplan’s study text to August 2015. Make sure that you check out IFRS 15 and recognise the removal of IAS 11 and IAS 18 from the syllabus
In fact, check the syllabus (you can find it on this site), go to the last page of the syllabus page and just confirm for your own peace of mind that the other changes since June are really just cosmetic
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