21 A foreign currency transaction shall be recorded, on initial recognition in the functional currency, by applying to the foreign currency amount the spot exchange rate between the functional currency and …

So what currency should you choose? The common functional currencies used for Hong Kong companies are HKD and USD. Choosing either of them will have certain implications from the …

Jul 12, 2025 · According to the Hong Kong Financial Reporting Standards HKFRS, a company’s functional currency refers to the currency of the primary economic environment in which it operates.

Hong Kong dollar ... The Hong Kong dollar (Chinese: 港元, sign: HK$; code: HKD) is the official currency of Hong Kong. It is divided into 100 cents. Historically, it was also divided into 1000 mils. The Hong …

ANNOUNCEMENT CHANGE OF PRESENTATION CURRENCY The board of directors (the “Board”) of CITIC Limited (the “Company”, together with its subsidiaries, the “Group”) hereby announces that the …

May 31, 2022 · The currency of that long-term economic environment is the functional currency of a start-up operation, not the currency that is used to fund initial operations or the currency of its initial …

What is the Invoice Currency Code? A currency code is the three letter code that represents the currency. This code is written on the invoice to represent the functional currency of the invoice. …

Apr 15, 2025 · According to Hong Kong's Financial Reporting Framework, companies must select a functional currency that provides a true and fair view of their financial position and performance.

Entity C initially recognises a non-monetary asset translating FC200 into its functional currency at the spot exchange rate between the functional currency and the foreign currency on 15 June 20X3.

Hong Kong has its own currency called the Hong Kong dollar (HKD). HK uses a different currency to Chinese mainland's yuan (RMB) or the Macau pataca (MAP). Using money in HK is easy for …