Non monetary asset/liabilities!

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


  • 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.