Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Administrative and Office Support

Currency used in company's financial statement?


What are the factors to determine whether the reports should be prepare in S$ or other currency for Financial statements of Company which incoporated in Singapore.

Any guildeline or standard?

Report in the currency of the country the firm is registered in. Holdings in foreign currencies should be given in the currencies amount with a proxy figure for the local value given the current exchange rate.
S$, definitely.
The currency of the statement must be the currency of the country where the company is based.
If the HQ are based in Singapore, and the company is registered in Singapore (registered, not listed), the numbers must be in S$.
If it's (example) USA registered, but listed in Singapore, I would say that the figures should be USD, plus a converted version in S$. But I'm not sure of this.
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