Enter Currency Record For Free

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Key Takeaways The reporting currency is the currency in which a company will report its financial statements. A reporting currency must be one currency, which makes it easier to understand and follow financial documents.

The reporting currency is the monetary unit used by a firm to record its transactions and to present its financial statements. The reporting currency is also known as the accounting currency or presentation currency.

Foreign Exchange Accounting covers the accounting of the transactions which are carried by a business in different currencies (Foreign currency) other than functional currency, and records such transactions in the functional currency of the reporting entity, based on the exchange rate in effect on the date of ...