- The currency of another country, which is not used in the preparation of an organization's domestic accounts. However, the existence of foreign subsidiaries or branches or overseas transactions may mean that an organization must translate these foreign currencies into the domestic currency to prepare its financial statements. The rules for doing so are contained in Statement of Standard Accounting Practice 20, Foreign Currency Translation.
Accounting dictionary. 2014.
Look at other dictionaries:
Foreign currency — Foreign money. The New York Times Financial Glossary * * * foreign currency foreign currency ➔ currency * * * foreign currency UK US noun [C or U] FINANCE, MONEY ► money from a country that is not your own: »Large companies will now be allowed to … Financial and business terms
foreign currency — money of another country from one s own. Bloomberg Financial Dictionary * * * foreign currency foreign currency ➔ currency * * * foreign currency UK US noun [C or U] FINANCE, MONEY ► money from a country that is not your own: »Large companies… … Financial and business terms
Foreign currency — Any currency other than the local currency defined in the automated system. Within the scope of flow of payments foreign currencies are all currencies, with the exception of the currency of the country a (branch of a) bank is resident. … … International financial encyclopaedia
foreign currency — noun Foreign currency is used before these nouns: ↑reserve … Collocations dictionary
foreign currency — užsienio valiuta statusas Aprobuotas sritis buhalterinė apskaita ir finansinė atskaitomybė apibrėžtis Kitos šalies valiuta. atitikmenys: angl. foreign currency vok. Devisen rus. иностранная валюта pranc. devises étrangères šaltinis Lietuvos… … Lithuanian dictionary (lietuvių žodynas)
foreign currency — noun any currency that is in use in a foreign country, but not in ones own … Wiktionary
foreign currency — Econ the currency or interest bearing bonds of a foreign country … The ultimate business dictionary
foreign currency — A *currency other than one used as a *functional currency by an individual or organization … Auditor's dictionary
foreign currency — The coin or bills constituting money in a foreign country … Ballentine's law dictionary
foreign currency — money in circulation from a different country … English contemporary dictionary