Thndr Claps » EGY Claps » FRA 🏢 » New(ish) accounting method to mitigate devaluation effects🧾
New(ish) accounting method to mitigate devaluation effects
The ClapThe FRA has submitted a new accounting method to the government that should help ease the effects on companies’ financial positions.
WhatThis method isn’t completely new, as it was used to mitigate similar effects brought about by the EGP’s devaluation in 2016.
So whatA main component of the new method is adjusting the value of assets that were acquired using foreign currency.
Now whatThe FRA is awaiting approval from Prime Minister Moustafa Madbouly’s government.
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