Where has Damil been? his off the wall (hard) ?'s got me through L1 and crushed my confidence early in L2. Hope you are still pushing forward. Throwback DAmil ?..though not nearly as awesome as everyone studying schweser prob saw this… Under temporal method, can the parent recognize: realized gains and loses on nonmonetary assets unrealized gains and losses on nonmonetary assets both realized and unrealized gains and losses on non monetary assets
only realized gains/losses
can you explain this?
in temporal method, nonmonetary assets are translated at historical level. only when they are sold is when we would book the associated loss/gain on the income statement - If your fixed asset appreciated 5X its original value, you still are going to convert it at the historical value so no unrealized gain is booked to the income statement.
funny, just saw this question in Schweser Book 2, Exam 3 AM.
my questions are a sad excuse for damil ?'s I know.
book 2 3 am killed me
me too …75% today on that
that’s not really getting destroyed. I got 40/60. Exam 2 I scored like 73% total. Damn this is killing my confidence.
Temporal method: Monetary assets and liabilities => current rate Non monetary assets and liabilities => historical rate Equity => Mixed rate The dif in translation (gain or loss) is realized in IS of parents and finally go through to Equity. (so what is the point “realized and unrealized gains and losses of non monetary assets”). Can anyone explain it for me?
Guys, I only have time to do 1 more schweser paper, is the exam 2 or exam 3 harder from the schweser practice exams volume 2??