ABSTRACT
Kenana Sugar Company is registered in Sudan, and is therefore governed by Sudan’s Companies Act. One of the provisions of this Act is that all accounts of a Sudan registered company are to be maintained in Sudanese currency, which means that foreign currency expenditure incurred is converted at the applicable exchange rate into Sudanese pounds and a record kept of the transactions. The company’s conservative accounting policy requires maintenance of the accounts, including the recording of fixed assets at historical cost.
