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How is accounting currency determined in China?

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How is accounting currency determined in China?

Posted On May 2015

When a company chiefly does business in  non-local currency, it then may choose the currency in which to conduct its accounting. When choosing currency, the company must consider the following factors:

  • If the currency influences the sales price of the company’s goods and services
  • If the currency influences the company’s labor, materials and other costs
  • If the currency is used in the company’s financial activities and retained operating receipts
     
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