TITLE MEASUREMENT PROBLEMS IN GLOBAL FINANCIAL REPORTING: THE NEED FOR A STABLE COMPOSITE CURRENCY Chapter uri icon

abstract

  • This paper extends previous work by Ijiri (1995) by proposing the use of a stable composite currency in global financial reporting. Ijiri argues that transnational corporations should report financial statements using a composite currency rather than individual home currencies to avoid currency-dependent results. We propose a composite currency comprised of national currencies of different countries that is stable in value over time. Consistent with Ijiri, transnational corporations would benefit from a stable benchmark for measuring accounting values. 2010 by Nova Science Publishers, Inc. All rights reserved.

author list (cited authors)

  • Hovanov, N. V., Kolari, J. W., & Sokolov, M. V.

complete list of authors

  • Hovanov, Nikolai V||Kolari, James W||Sokolov, Mikhail V

Book Title

  • INTERNATIONAL ACCOUNTING IN THE 21ST CENTURY

publication date

  • December 2010