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?
Inventories
Re: Inventories
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
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