Leases in non-functional currency

Ddimitri828y ago

Hi, I've got a question with regards the leases denominated in non-functional currency. At lease inception, the financial liability would be recognized in lease currency, but the right to use asset? Should not it be in functional currency? Thank you in advance Dima

P2-D2Tutor8y ago#1

Hi, Any amounts not in the functional currency of the reporting entity need to be translated initially at the rate in place on the date of the transaction. Thanks

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