GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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14:21 Jul 26, 2007 |
Spanish to English translations [PRO] Accounting | |||||||
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| Selected response from: Richard Cadena Mexico Local time: 03:05 | ||||||
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5 +2 | functional currency / reporting currency |
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4 | presentation currency |
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presentation currency Explanation: IFRS: Functional and presentation currency- [ Traduzir esta página ]Guidance on the accounting for functional and presentation currency under International Financial Reporting Standards (IFRS) www.pwc.com/Extweb/service.nsf/docid/6757E4028F123528852571... - 75k - Em cache - Páginas semelhantes IFRS: Foreign currency translation- [ Traduzir esta página ]Translation to the presentation currency; Consolidation procedures; Disclosure ... If the presentation currency is not hyperinflationary, the comparative ... www.pwc.com/Extweb/service.nsf/docid/C3963019B15826BA802571... - 68k - Em cache - Páginas semelhantes IAS Plus International Accounting Standards Draft Interpretations ...- [ Traduzir esta página ]SIC-19, Reporting Currency – Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29, requires that the translation method used not ... |
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functional currency / reporting currency Explanation: The following definition appears in Barron's Dictionary of Accounting Terms for "functional currency": Functional Currency is the legal tender of the primary economic environment in which a company operates. Usually, it is the country where a company generates and expends most of its cash. For example, if a company in Itally (as an independent entity) generated its cash and incurred related expenses in Italy, the Italian currency would be the functional currency. However, if the Italian company was an extension of a Greek parent Company, the functional currency would be the Greek currency. Se also REPORTING CURRENCY. Hope this helps. 18 1/2 years of translating for Mexico City based international accounting firms and financial entities in general. -------------------------------------------------- Note added at 4 hrs (2007-07-26 19:17:16 GMT) -------------------------------------------------- Hola Carolina: En el mismo diccionario antes mencionado, se da la siguiente definicion de "reporting currency": REPORTING CURRENCY is the currency in which a company prepares its financial statements. En respuesta a to comentario, ahí te va este "rollo": "Functional currency" es la moneda que utiliza una compañía en todos sus movimientos cotidianos de ingresos y egresos. "Reporting currency" es la moneda que se utiliza para la elaboración y presentación de los estados financieros. En consecuencia, para una sociedad mexicana independiente, tanto "the functional currency" y "the reporting currency" van a ser el mismo peso mexicano. Por otra parte, tratándose de una subsidiaria o sociedad controlada en México de una compañía tenedora de los EUA, la compañía mexicana utilizará el peso mexicano como "functional currency" para todos sus movimientos cotidianos en materia de ingresos y egresos. Sin embargo, para efectos de la presentación de sus estados financieros ante la tenedora en los EUA, "the reporting currency" tendrá que ser el dólar norteamericano, por lo que la subsidiaria o controlada en México se verá en la necesidad de efectuar la conversión de sus estados financieros de pesos mexicanos a dólares norteamericanos. Espero que lo anterior te sea de utilidad. Saludos, Richard Reference: http://aicpa.org. Reference: http://imcp.org.mx |
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