foreign currency

foreign currency
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.

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  • 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 account — ➔ account1 * * * foreign currency account UK US noun [C] BANKING ► a bank account for foreign currency: »A foreign currency account can save considerable time and money for people who have to make financial transactions abroad …   Financial and business terms

  • foreign currency risk — ➔ risk * * * foreign currency risk UK US noun [C or U] (also foreign currency exposure) FINANCE ► CURRENCY RISK(Cf. ↑currency risk) …   Financial and business terms

  • foreign currency reserves — UK US noun [plural] (also currency reserves, foreign reserves, international reserves) FINANCE ► FOREIGN EXCHANGE RESERVES(Cf. ↑foreign exchange reserves) …   Financial and business terms

  • foreign currency exposure — ➔ exposure …   Financial and business terms

  • Foreign currency account — (FCA) is a transactional account denominated in a currency other than the home currency and can be maintained by a bank in the home country (onshore) or a bank in another country (offshore) …   Wikipedia

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