On February 19, 2024, the National Accounting Standards Board (“NSB”) approved a new Interpretation I-49 related to the recognition and measurement of liquid valuables. The Interpretation addresses whether all liquid valuables should be reported in the financial statements in the “cash in hand” group or whether all such transactions are not cash and therefore should be reported differently. Furthermore, the question of revaluation at the balance sheet date is addressed – do liquid valuables and their equivalents bear exchange rate risk or not?

The text of Interpretation I-49 itself is available on the NRC website – www.nur.cz