SIMCO Commercial Corporation (SCC) is located in Godalming United Kingdom (U.K.). SCC is owned by an investment group located in London and all corporate functions are performed in Godalming. However manufacturing operations occur in both the U.K. and South Africa. SCC’s president made the statement that the corporation should use the EU as functional currency since administrative functions are performed in the U.K and the corporate headquarters are domiciled here. However the head of operations stated that the functional currency at least for the manufacturing arm should be the South African Rand because all materials are purchased locally and 80% of manufacturing occurs in South Africa.
Prepare a one page essay that discusses which individual you agree with and why. In your essay address the following: