banner_ad

Monetary and Non-monetary items..under AS-11..urgent sir!!!

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 August 2010 Dear Experts,
Can we treat creditors arising out of purchase of capital asset (i.e. Fixed Assets) as monetary item?

Please any one explain me the concept of monetary items and non-monetary items? I tried to understand but unable to have a grip on it.

Thanks for everyone who helped me...
With regards,
Rajesh.
Profile Image

CA Amit Joshi

Profile Image

CA Amit Joshi (Expert)
19 August 2010 Yes, Creditors on purchase of capital assets are monetary items.
There is only three non monetary items Investment, Stock, Fixed Assets.
All other items are monetary items.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details