Literature Review of the Impact of Multicurrency Regime On Financial Reporting
The research sought to examine literature on the impact of Multicurrency regime on financial reporting. The research findings showed that, during the Multicurrency regime firms saw financial reporting becoming a challenge due to shifts in government policies which preclude them from reporting in acc...
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| Format: | research article |
| Language: | English |
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Allied Business Academies
2023
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| Online Access: | https://cris.library.msu.ac.zw//handle/11408/5741 https://www.abacademies.org/articles/literature-review-of-the-impact-of-multicurrency-regime-on-financial-reporting-10641.html |
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| _version_ | 1779905641994780672 |
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| author | Wadesango N Mellisa Jane Kucherera Stephen Malatji Lovemore Sitsha |
| author2 | University of Limpopo |
| author_facet | University of Limpopo Wadesango N Mellisa Jane Kucherera Stephen Malatji Lovemore Sitsha |
| author_sort | Wadesango N |
| collection | DSpace |
| description | The research sought to examine literature on the impact of Multicurrency regime on financial reporting. The research findings showed that, during the Multicurrency regime firms saw financial reporting becoming a challenge due to shifts in government policies which preclude them from reporting in accordance with prescribed standards such as IAS 21, failure to attract skilled staff with foreign currency exposure experience as well as failure to acquire multicurrency system tailored software. The research findings further established the best industry practises that firms can use, in case redollarization occurs in future. The study recommends firms to establish seminars and training programmes for the workforce carry out multicurrency diversification to hedge risks, make use of multicurrency programs to track exposure, consult regulatory boards and foreign currency specialists, and approach the government to work hand in hand when making monetary policies. |
| format | research article |
| id | ir-11408-5741 |
| institution | My University |
| language | English |
| publishDate | 2023 |
| publisher | Allied Business Academies |
| record_format | dspace |
| spelling | ir-11408-57412023-07-04T06:53:00Z Literature Review of the Impact of Multicurrency Regime On Financial Reporting Wadesango N Mellisa Jane Kucherera Stephen Malatji Lovemore Sitsha University of Limpopo Midlands State University Tshwane University of Technology Midlands State University Multicurrency Regime Financial Reporting Redollarisation The research sought to examine literature on the impact of Multicurrency regime on financial reporting. The research findings showed that, during the Multicurrency regime firms saw financial reporting becoming a challenge due to shifts in government policies which preclude them from reporting in accordance with prescribed standards such as IAS 21, failure to attract skilled staff with foreign currency exposure experience as well as failure to acquire multicurrency system tailored software. The research findings further established the best industry practises that firms can use, in case redollarization occurs in future. The study recommends firms to establish seminars and training programmes for the workforce carry out multicurrency diversification to hedge risks, make use of multicurrency programs to track exposure, consult regulatory boards and foreign currency specialists, and approach the government to work hand in hand when making monetary policies. 27 2 2023-07-04T06:52:58Z 2023-07-04T06:52:58Z 2021 research article https://cris.library.msu.ac.zw//handle/11408/5741 https://www.abacademies.org/articles/literature-review-of-the-impact-of-multicurrency-regime-on-financial-reporting-10641.html en Academy of Entrepreneurship Journal 1528-2686 open Allied Business Academies |
| spellingShingle | Multicurrency Regime Financial Reporting Redollarisation Wadesango N Mellisa Jane Kucherera Stephen Malatji Lovemore Sitsha Literature Review of the Impact of Multicurrency Regime On Financial Reporting |
| title | Literature Review of the Impact of Multicurrency Regime On Financial Reporting |
| title_full | Literature Review of the Impact of Multicurrency Regime On Financial Reporting |
| title_fullStr | Literature Review of the Impact of Multicurrency Regime On Financial Reporting |
| title_full_unstemmed | Literature Review of the Impact of Multicurrency Regime On Financial Reporting |
| title_short | Literature Review of the Impact of Multicurrency Regime On Financial Reporting |
| title_sort | literature review of the impact of multicurrency regime on financial reporting |
| topic | Multicurrency Regime Financial Reporting Redollarisation |
| url | https://cris.library.msu.ac.zw//handle/11408/5741 https://www.abacademies.org/articles/literature-review-of-the-impact-of-multicurrency-regime-on-financial-reporting-10641.html |
| work_keys_str_mv | AT wadesangon literaturereviewoftheimpactofmulticurrencyregimeonfinancialreporting AT mellisajanekucherera literaturereviewoftheimpactofmulticurrencyregimeonfinancialreporting AT stephenmalatji literaturereviewoftheimpactofmulticurrencyregimeonfinancialreporting AT lovemoresitsha literaturereviewoftheimpactofmulticurrencyregimeonfinancialreporting |