Inventories

All topics related to IFRS Standards.
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junfa83
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Joined: 19 Nov 2021, 17:07

Inventories

Post by junfa83 »

Hi,

Would like to check how do u guys account for inventories billed in foreign currencies other than your home currencies?

What should we do to the exchange gain/loss on settlement of the inventory invoice?
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Marek Muc
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Re: Inventories

Post by Marek Muc »

those exchange differences go to P&L

inventories are non-monetary assets and thus aren't retranslated after initial recognition

see this example with PP&E:

https://ifrscommunity.com/knowledge-bas ... ifferences
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