I have a question regarding functional currency of a company:
If the nature of companies activities is investments in start up projects around the world (therefore various countries/currencies - therefore no sales/purchases - just dividends, interest and gains/losses on sales) how shall the functional currency be determined? Could it be the source of finance? the country of registration? the main bank account transaction? the taxes? thanks
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Functional Currency IAS 21
Hi,
IAS 21 states that we look at the currency in which an entity's finances are denominated.
Thanks
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