MONETARY ASSETS Definition

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MONETARY ASSETS are measured at their collectible amounts, while nonmonetary assets are measured at historical costs.

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DEPRECIATION ALLOCATION is the allocation of the cost of capital expenditures so that revenue is matched with expenses for items that will last more than one year (land is not depreciable). The methodology is to allocate plant and equipment cost to expense through the use of accelerated, straight line and units of production amortization methods; as well as the disposal of assets; and, repairs and betterments to assets.

HISTORICAL EXCHANGE RATES are just that: The historical data on currency exchange rates.

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