Blog para comentarios sobre educación continua para estudiantes y profesionales de la Contaduría Pública
http://grupodeinvestigacioncontable.wikispaces.com 2017 By Javier E. Miranda R., CPA, CGF, MADE, MTE.
When you need to translate your items denominated in foreign currency to your own functional currency, then there’s
one little problem:
that item monetary or non-monetary?
you determine the nature of your item incorrectly, it can lead to totally wrong presentation in the financial statements.
so important when you consolidate and you need to translate some
foreign subsidiary to your own presentation currency, right?
the rules in IAS 21 say that in such a case, you translate all your assets and liabilities by the closing rate.
it comes to translating individual items and transactions in your own
financial statements to the functional currency, then the rules are more
complex and you start to look at whether the item is monetary or
newest post, I explain what makes a difference between monetary and
non-monetary items and you'll find a clear table with identifying the
of various items in your balance sheet.