Presentation currency

Term from IAS/IFRS. This term is used in IAS/IFRS to describe the situation, which is by no means rare, in which a company – has divisions in different currency areas – prepares its financial statements in the respective reporting currency – and the values determined have to be translated into a uniform monetary unit in the group balance sheet. – The currency specified in a contract in relation to payment. It is imperative that this specification is made in accordance with the ISO currency code. In offers, especially from offshore financial centers, “dollar” is usually mentioned verbally and in writing; but what is then meant, for example, is the Barbados dollar (BBD), which is far lower in purchasing power. As has been shown, in these cases legal prosecution for deception – as intentional conduct with the aim of causing another to be mistaken, see § 263 StGB (German Criminal Code) – is futile, even in German courts. – See European Master Agreement, financial vultures, plain language, comprehensibility.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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