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Accounting Currency

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Accounting Currency
The currency used in the internal accounting of an organization. For example, if a bank records all its transactions in British pounds, the pound is its accounting currency. Under some circumstances, a currency, notably Special Drawing Rights, may be used only as an accounting currency and for nothing else.


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The two most important off-site variables for a gold mine, or any mine, are energy costs and the interplay between the Dollar and the mine’s local currency and the company’s accounting currency in which operating costs are borne and recorded.
Europe is in the worst recession since the inception of the euro as an accounting currency on January 1999.
SABMiller, originally South African Breweries, earns substantial profits in emerging markets and Eastern Europe, whose currencies have fallen heavily against the dollar, SABMiller's accounting currency.
 
 
 
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