{"type":"video","version":"1.0","html":"<iframe src=\"https://www.loom.com/embed/7bb0a80e69ec4b4fabf2c736c282c3f4\" frameborder=\"0\" width=\"1728\" height=\"1296\" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>","height":1296,"width":1728,"provider_name":"Loom","provider_url":"https://www.loom.com","thumbnail_height":1296,"thumbnail_width":1728,"thumbnail_url":"https://cdn.loom.com/sessions/thumbnails/7bb0a80e69ec4b4fabf2c736c282c3f4-00001.gif","duration":231.76666666666665,"title":"Understanding Foreign Currency Conversion","description":"In this video, I explain how foreign currency works and demonstrate how to create a hand of foreign currency. I discuss the classification of assets and liabilities as non-monetary and monetary items, respectively, according to IFRS 21 and ASDA 42. I highlight the use of historical rates for non-monetary items and closing exchange rates for monetary items. Through a practical example in Cradle, I show how the translation process works and the impact of different exchange rates on the balance sheet. No action is requested from the viewers."}