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Chapter 16 Multinational Operations
Presenter’s name Presenter’s title dd Month yyyy
Presentation currency and functional currency
• Presentation currency: The Click icon to add picture currency in which the company
presents (reports) its financial
statements.
• Functional currency: The currency in which the company
₤ € £
conducts its primary activity.
• Local currency: The currency used within the country in which the company operates.
• Often, presentation currency = functional currency = local currency.
• Often, functional currency of Csubsidiary ≠ functional and Inpresentation currency of parent.
¥ $ ₤ € £ ¥ $₤ €
£ ¥ $ 2
Foreign currency transaction exposure
Payment Currency?
Exporter Goods Importer
Copyright © 2015 CFA 3
Institute
Foreign currency transaction exposure
?
Exporter Goods Importer
Copyright © 2015 CFA 4
Institute
Foreign currency transaction exposure
?
Exporter Goods Importer
Copyright © 2015 CFA 5
Institute
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