Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited
The purpose of this study was to s to examine the impact of Multicurrency regime on financial reporting using National Property Consultancy (Pvt.) Limited as the case. In conducting the research, a census of 20 people was used from NPC and a quantitative research approach was used. Questionnaires we...
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Allied Business Academies
2022
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| Online Access: | https://www.abacademies.org/articles/Investigating-the-impact-of-multicurrency-regime-on-financial-reporting-case-of-national-property-consultancy-pvt-Limited-1528-2635-25-5-786.pdf http://hdl.handle.net/11408/4737 |
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| author | Wadesango, N Kucherera, Mellisa Jane Malatji, S |
| author_facet | Wadesango, N Kucherera, Mellisa Jane Malatji, S |
| author_sort | Wadesango, N |
| collection | DSpace |
| description | The purpose of this study was to s to examine the impact of Multicurrency regime on financial reporting using National Property Consultancy (Pvt.) Limited as the case. In conducting the research, a census of 20 people was used from NPC and a quantitative research approach was used. Questionnaires were administered to twenty respondents. Also, a regression analysis was carried out to determine the relationship between Multicurrency system and financial reporting and the results showed that there is a positive relationship. 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 firm was recommended 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 | Article |
| id | ir-11408-4737 |
| institution | My University |
| language | English |
| publishDate | 2022 |
| publisher | Allied Business Academies |
| record_format | dspace |
| spelling | ir-11408-47372022-06-27T13:49:06Z Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited Wadesango, N Kucherera, Mellisa Jane Malatji, S multicurrency regime financial reporting redollarisation The purpose of this study was to s to examine the impact of Multicurrency regime on financial reporting using National Property Consultancy (Pvt.) Limited as the case. In conducting the research, a census of 20 people was used from NPC and a quantitative research approach was used. Questionnaires were administered to twenty respondents. Also, a regression analysis was carried out to determine the relationship between Multicurrency system and financial reporting and the results showed that there is a positive relationship. 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 firm was recommended 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. 2022-03-24T13:47:11Z 2022-03-24T13:47:11Z 2021 Article 1528-2635 https://www.abacademies.org/articles/Investigating-the-impact-of-multicurrency-regime-on-financial-reporting-case-of-national-property-consultancy-pvt-Limited-1528-2635-25-5-786.pdf http://hdl.handle.net/11408/4737 en Academy of Accounting and Financial Studies Journal;Vol.25 , Iss.5 open Allied Business Academies |
| spellingShingle | multicurrency regime financial reporting redollarisation Wadesango, N Kucherera, Mellisa Jane Malatji, S Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited |
| title | Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited |
| title_full | Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited |
| title_fullStr | Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited |
| title_full_unstemmed | Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited |
| title_short | Investigating the impact of multicurrency regime on financial reporting : case of National property Consultancy (Pvt.) Limited |
| title_sort | investigating the impact of multicurrency regime on financial reporting : case of national property consultancy (pvt.) limited |
| topic | multicurrency regime financial reporting redollarisation |
| url | https://www.abacademies.org/articles/Investigating-the-impact-of-multicurrency-regime-on-financial-reporting-case-of-national-property-consultancy-pvt-Limited-1528-2635-25-5-786.pdf http://hdl.handle.net/11408/4737 |
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