this concepts states that value of the money remain unchanged .we ignore the effects ofi nflation and deflation
The Monetary unit principle states that all items must be recorded and reported in monetary terms, i.e. in the currency of the country of location where reports are being prepared and ultimately used.
A standard monetary unit of measurement of the value of goods and services. Example: money
Historical costs are not adjusted in the basic financial statements to reflect changes in the unit of measure, the dollar. Supplemental financial statements are permitted to show adjustments for inflation
According to this concept, business is treated as a unit separate and distinct from its owner.
Money Measurement Concept in accounting, also known as Measurability Concept, means that only transactions and events that are capable of being measured in monetary terms are recognized in the financial statements.
allows accountants to ignore the effect of inflation in the accounting records.
Monetary unit: Colombian Peso
FJD is the monetary unit for Fiji.
The baht or satang is the monetary unit for Thailand.
Monetary unit: Pound sterling
The monetary unit of morocco is called a Moroccan Dirham.
what is the former monetary unit of finland
They may still use pounds as monetary value
The monetary unit of the United Kingdom is the British Pound.
The Philippine monetary unit is spelled as "peso."
need more of your articles on monetary theory
Chinese monetary unit - the monetary unit in the People's Republic of China monetary unit - a unit of money kwai, yuan - the basic unit of money in China jiao - 10 jiao equal 1 yuan in China fen - 100 fen equal 1 yuan in China