5% of sales, a year ago as a result of lower gross profit, partially offset by a reduction in selling and administrative expenses related to year-over-year variations in the currency translation of net
monetary items.
Such
monetary items are deemed to be acquired at the year end date.
In subsequent years, all
monetary items would be up for negotiation, when the district's financial picture is clearer.
For the powerless, the subjective value of
monetary items is intensified and the physical representations of those items are distorted based on whether there is a positive (bigger is better) or negative (smaller is better) value relationship.
segment; $200,000 in unrealized gains on
monetary items, partially offset by a $117.
8 million unrealized foreign exchange loss on
monetary items,
6 million), including gains on the revaluation of foreign currency
monetary items of CAD$160 million.
Additionally, FAS33 classifies deferred policy acquisition costs and unearned property and casualty insurance premiums as nonmonetary, but American General (1981) believes these should be classified as
monetary items.
The CPP income statement also contains a gain or loss on holding
monetary items.
However, there will always be differences of opinion as to fair value of
monetary items, book value of long-lived assets, intangible assets, allowances for future troubles, etc.
items outstanding for more than one year) foreign currency denominated
monetary items are, for LCT purposes, a "reserve" under subsection 181(1) and, hence, included in the calculation of taxable capital.
The contract also includes two new
monetary items, a profit-sharing plan and an "inflationary recognition program," both of which are linked to the company's economic performance.
