Functional currency

Functional currency
As defined by FASB No. 52, an affiliate's functional currency is the currency of the primary economic environment in which the affiliate generates and expends cash. The New York Times Financial Glossary

Financial and business terms. 2012.

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  • Functional currency — is the monetary unit of account of the principal economic environment in which an economic entity operates.Statement of Financial Standards No. 52 (SFAS 52) is the primary source of GAAP for translation of foreign currency financial statements.… …   Wikipedia

  • Functional Currency — The primary type of money that a company uses in its business activities. Often a company s functional currency is the same as that of the nation in which it is headquartered, though this is not necessarily the case. The functional currency is… …   Investment dictionary

  • functional currency — As defined by FASB No. 52, an affiliate s functional currency is the currency of the primary economic environment in which the affiliate generates and expends cash. Bloomberg Financial Dictionary …   Financial and business terms

  • functional currency — A *currency used in the primary location of an individual or organization, which is normally adopted for *financial reporting purposes. For example, a * multinational corporation based in the United States would usually adopt the U.S. dollar as… …   Auditor's dictionary

  • functional currency — funkcinė valiuta statusas T sritis Gynyba apibrėžtis Valiuta, naudojama organizacijos operacijoms registruoti ir apskaitai vykdyti. atitikmenys: angl. functional currency šaltinis NATO mokymų ir pratybų finansavimo terminų žodynas AAP 43(1), 2009 …   Lithuanian dictionary (lietuvių žodynas)

  • functional currency — The currency of the economic environment in which a business operates. It is usually, although not necessarily, the currency in which the business will produce its audited accounts …   Accounting dictionary

  • currency — A system of *money that is widely accepted as a medium of exchange in a specific country or region. Gold is often considered to be an international currency, owing to its acceptability throughout the world. See also *hard currency, *soft currency …   Auditor's dictionary

  • Функциональная валюта (FUNCTIONAL CURRENCY)  — Валюта основной экономической среды, в которой функционирует хозяйственная единица; обычно это валюта, в которой предприятие получает и расходует денежные средства …   Словарь терминов по управленческому учету

  • Base currency — In foreign exchange markets, the base currency is the first currency in a currency pair. The second currency is named the quote currency, counter currency or terms currency. Exchange rates are quoted in per unit of the base currency. Note that FX …   Wikipedia

  • Foreign currency transaction gains and losses —   Gains or losses resulting from the effect of exchange rate changes on transactions denominated in currencies other than the functional currency (for example, a U.S. enterprise may borrow Swiss francs or a French subsidiary may have a receivable …   Energy terms

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