Price-Level Adjustment

Nonmonetary Item
A nonmonetary item is an asset, liability, or other financial statement line item that is stated in historical dollars and requires adjustment for inflation or deflation. Such items are not categorized as monetary items and thus do not maintain a fixed monetary value over time.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.