Accounting Currency

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.
References in periodicals archive ?
The benefits extend beyond the balance sheet, as greater certainty of payment enhances cash visibility and cash flow accounting currency and directly ties working capital optimization to prudent risk-taking.
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.
The complaint was upheld as the ASA claimed that only companies that used euros as their base accounting currency would have a problem and Exchequer Software has been asked to moderate their claims in future.
Only 35% of enterprises in participating countries already include figures in Euro on customer invoices, though a considerable number of companies with an international profile have chosen to convert to the Euro as their internal accounting currency.
On I January 1999 the European Central Bank win be established and the Euro will become the accounting currency for participating states and for the Community budget.

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