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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 ... - tailieumienphi.vn
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