Hi, please advice, which items exactly are non monetary asset and liab.
Long term debt is monetary or non m. liab?
Notes payable is monetary or non m. liab?
Inventory - non monetary asset?
Hi, please advice, which items exactly are non monetary asset and liab.
Long term debt is monetary or non m. liab?
Notes payable is monetary or non m. liab?
Inventory - non monetary asset?
Monetary a/l are fixed in the amount of currency to be received or paid
inventory is non-monetary
notes payable is monetary
long term debt is monetary
thanks.
And what could be an example of non monetary liability?
Can we say that monetary asset always is cash + receivables? or smth more?
I guess this could raise a huge thread…
So far I’ve done a ton of exercises from different providers (including CFA Institute) and I’ve only seen those mentioned above.
Example of Non Monetary Liability is Deferred Revenue.