monetary items

Monetary Items

Assets and liabilities that are fixed in dollar amounts and are thus not affected by inflation. Examples of monetary items include cash, accounts receivable, accounts payable, bonds, and short-term loans. In periods of high inflation, holding monetary liabilities increases a firm's purchasing power, while holding monetary assets decreases it.

monetary items

Assets on a firm's balance sheet that are fixed in dollar amount. Cash, short-term loans, and long-term bonds are monetary items.
References in periodicals archive ?
Exchange differences arising on the settlement of monetary items and on the retranslation of monetary items are taken to the profit and loss account.
9M, negatively impacted by currency depreciation and the subsequent impact on Deferred Tax and Monetary Items.
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.
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.
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.
Should we require that translation adjustments on long-term monetary items be taken to income?
monetary items or on settlement of monetary items are recognized in the