08-21-2009, 03:12 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by wsafca</i>
<br />Thanks alot to you both
I have one confusion, if you please reconsider and specifically clear.
As the company receives funds in foreign currency and incur expenditure in Pak Rupees. Isn't in this case the functional and presentation currencies different?
Regards
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
AoA
Particularly in this case functional currency is PKR (i.e. as entity operates in such an economic environment where PKR is prevailed) and presentation currency is ofcourse PKR as management intention to present financials in PKR. So there'snt any difference.
Regards,
Nabeel Anwer
<br />Thanks alot to you both
I have one confusion, if you please reconsider and specifically clear.
As the company receives funds in foreign currency and incur expenditure in Pak Rupees. Isn't in this case the functional and presentation currencies different?
Regards
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
AoA
Particularly in this case functional currency is PKR (i.e. as entity operates in such an economic environment where PKR is prevailed) and presentation currency is ofcourse PKR as management intention to present financials in PKR. So there'snt any difference.
Regards,
Nabeel Anwer
