Multinational Group

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Definitions

Functional Currency Presentation Currency Economic Environment Financial Reporting Multinational Group Accounting Standards Currency Translation

The currency of the immediate economic environment in which an entity operates, i.e. the one in which it earns and spends cash and which chiefly determines its costs and prices. This will sometimes differ from the currency in which its accounts are presented (the presentation currency), especially where the entity is part of a multinational group.