Biological Currency The objective of this lab is to figure out whether or not this money is counterfeit. We will attempt to find the information needed to prove that the money is counterfeit or not by looking at it under a microscope and by using iodine drops to compare the money’s result with the results of different items. Counterfeiting money is not a new to any country. It started when paper money was first made. Some countries attempt to counterfeit rivals money to drive their economy downward
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What is devaluation of a currency? It refers to decline in value of a currency with respect to other currencies‚ which is most of the times brought by central bank. It should not be confused with term depreciation of currency which is a decline in currency value due to market forces without interference of government. When does this happen and how? This happens mostly in developing countries which don’t allow currency prices to be determined by market forces. What happens is that they want to
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Types of Requirements : A. What is functional requirements ? A functional requirement defines a function of a system or its component. A function is described as a set of inputs‚ the behavior‚ and outputs . Functional requirements may be calculations‚ technical details‚ data manipulation and processing and other specific functionality that define what a system is supposed to accomplish. B. What is Non-functional requirements ? A non-functional requirement is a requirement that specifies
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CASE: Managing Offshore Investments: Who’s Currency?1 The Offshore Investment Fund (OIF) was incorporated in Fairfield‚ Connecticut‚ for the sole purpose of allowing U.S. shareholders to invest in Maltese securities. The Fund is listed on the New York Stock Exchange. The custodian of the Fund is the Shady Rest Bank and Trust Company of Connecticut (“Shady Rest”)‚ which keeps the accounts of the Fund. The question very quickly arose as to the currency in which the books of the fund were to be kept
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Functional Currency Determination Case 10/10/2011 ABSTRACT In the dynamic global market‚ companies of all sizes‚ whether small‚ medium or transnationals interact with foreign companies and in most cases operate with currencies that are different from those that they commonly use. Foreign companies use foreign currencies for their expenditures‚ hedging strategies‚ and investing and financing activities. As a result these business activities must be reflected on the financial statements in the
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Categories of Foreign Currency (FC) transaction and operation; FC Transaction : Local entity enters transaction with foreign entity using foreign currency Example: purchase or sale of products and payment in foreign currency. Lending or borrowing in foreign currency. FC operation: Local entity has branches‚ subsidiaries‚ associate or JV in foreign countries. The accounts are in foreign currency. Exchange exposure: the risk of exchange losses or gain from foreign currency transaction and operation
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include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency. [IAS 21.1] The principal issues are which exchange rate(s) to use and how to report the effects of changes in exchange rates in the financial statements. [IAS 21.2] Key Definitions [IAS 21.8] Functional currency: the currency of the primary economic environment in which the entity operates. (The term ’functional currency’ was used
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Printed in [country in which the publication will be printed]. FOR INTERNAL USE ONLY 1 Learning objectives ♦ Describe the definitions as per IAS 21 ♦ Examine and Assess how foreign currency transactions and balances are translated into a company’s functional currency ♦ Examine and Assess how foreign currency financial statements are translated for consolidation purposes ♦ Discuss disclosure requirements for the notes to financial statements © [year] [legal member firm name]‚ a [jurisdiction]
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In recent years‚ the level of distrust has skyrocketed due to currency manipulation‚ or the tool used by the P.R.C. to keep its currency value low in order to keep exports cheap. While most all trading nations participate in currency manipulation‚ China is one of the largest culprits. In order to have an undervalued currency‚ a nation must be buying more than they are selling. The Chinese‚ with their cheaply made products and underpaid workers
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choose to account for it as a fair value hedge. 2. When a currency is allowed to increase or decrease in value relative to other currencies‚ the currency is said to: a. Float 3. What has occurred when one company purchases the right to buy a foreign currency some time in the future at an exchange rate quoted today? a. the company has acquired a call option. 4. Under U.S. GAAP‚ what method is required to account for foreign currency transactions? a. The two-transaction perspective must be
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