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| Author: | Ijiri, Y. |
| Title: | Global financial reporting using a composite currency: an aggregation theory perspective |
| Journal: | International Journal of Accounting Education and Research
1995 : VOL. 30:2, p. 95-106 |
| Index terms: | CURRENCY FINANCIAL REPORTING REPORTING EXCHANGE RATES |
| Language: | eng |
| Abstract: | This paper presents an argument that, for global corporations with semi-permanent foreign investments, the reporting currency should be a composite currency, not the home currency, since the latter assumes eventual repatriation of all foreign investments. Use of the home currency creates an anomaly that two companies with identical asset holdings worldwide but headquarters in two different countries may report a gain in one end and a loss in the other solely due to one currency weakening and the other currency strengthening. |
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