关于monetary & non monetary asset/liability

问题如下：

In response to the board’s third question, Templeton should note that the change will most likely affect:

选项：

A.

the cash ratio.

B.

fixed asset turnover.

C.

receivables turnover.

解释：

B is correct.

If the Canadian dollar is chosen as the functional currency, the current rate method will be used and the current exchange rate will be the rate used to translate all assets and liabilities. Currently, only monetary assets and liabilities are translated at the current rate. Sales are translated at the average rate during the year under either method. Fixed assets are translated using the historical rate under the temporal method but would switch to current rates under the current rate method. Therefore, there will most likely be an effect on sales/fixed assets. Because the cash ratio involves only monetary assets and liabilities, it is unaffected by the translation method. Receivables turnover pairs a monetary asset with sales and is thus also unaffected.

考点：会计方法对财务比率的影响

解析：题目问哪个ratio会受到functional currency改变的影响。

之前美元是functional currency，即LC≠FC=RC，我们选择temporal method。现在如果functional currency变成加拿大元，与母公司货币不同，要用current rate method进行转换。

B选项的公式是fixed asset turnover=sales/fixed asset，分子sales是用平均汇率转换，这个在current method或者是temporal method下都是一样的。在current rate method下，分母fixed asset是用current rate转换。但是在temporal method下，它是用历史汇率转换的。所以会受到会计方法变化的影响。选项B正确。

A选项：cash ratio=cash/current liability

• 在这一题中current liability只有A.P，没有unearned revenue，所以current liability都是monetary的，不管是current rate method还是temporal method，都用current rate转换。
• 分子cash也属于monetary的，不管是current rate method还是temporal method，都用current rate转换。
• 所以无论是哪种方法转换，分子分母都用current rate。
• 因此A选项的ratio不会收到转换方法选择的影响。
  

【提示】current rate method下所有资产负债都用current rate转换。

temporal method下所有货币性资产和负债都用current rate转换，非货币性资产和负债用historical rate转换。

• Monetary资产一般包括：cash and receivables，其余都是Non-monetary资产。如inventory, fixed assets, and intangibles都属于Non-monetary资产
• Non-monetary负债主要包括deferred revenue（也叫unearned revenue），其余负债都是monetary负债。

C选项：A.R turnover=revenue/A.R，无论是用哪种方法转换，revenue都用平均汇率，A.R都用current rate，所以不受会计方法的影响（即两种转换方法下算出的这个ratio没区别）。