國際會計第七版英文版課后答案第一章

1、1Chapter1IntroductionDiscussionQuestions1.Inthedomesticcaseaccountingisaninfmationservicethatprovidesfinancialinfmationaboutadomesticentitytodomesticusersofthatinfmation.Internationalaccountingisdistinctiveinthattheentit

2、ybeingreptedoniseitheramultinationalcompanywithoperationstransactionsthattranscendnationalboundariesinvolvesanentiiywithreptingobligationstoreaderswhoarelocatedoutsidethereptingentity’scountryofdomicile.2.Advantage:Somem

3、ightarguethatmeasurementdisclosureexternalauditingarethreedistinct(althoughrelated)processesinvolvingdifferentmembersofthecompany.Fexamplecpateattneysoftenareinvolvedindisclosureissuesbutseldominterveneinmeasurementissue

4、s.TheBoardofDirectswkswiththeexternalauditsbutnotnecessarilywiththecomptrollersoffice.Thusdiscussionofaccountingrequirementsvoluntaryaccountingchoicesindifferentjurisdictionsissimplifiedbyfocusingonthethreecomponentsofac

5、counting.Disadvantage:measurementdisclosureauditingareinterdependentshouldnotbeviewedinisolationofoneanother.Acompanychoosingtodiscloseaslittleaspossiblefexamplemayuseaccountingmeasurementapproachesthatreducetheinfmation

6、contentoffinancialstatementsanexternalauditwhowillberelativelylenientinenfcingaccountingrequirements.Onealternativeclassificationmightincludeaccounting(measurementdisclosure)auditing.Asecondclassificationmightincludefina

7、ncialrepting(annualinterimreptingregulatyfilings)adhocdisclosure(pressreleasesanalystmeetingsetc).Anyclassificationisarbitrarypotentiallyusefuldependingonitspurpose.3.Factscontributingtotheinternationalizationofthesubjec

8、tofaccountinginclude:thegrowthspreadofmultinationaloperationsaroundthewldthephenomenonofglobalcompetitiontheincreasingnumberofcrossbdermergersacquisitionsthatoccuralmostdailycontinuedadvancesininfmationtechnologytheinter

9、nationalizationofthewld’scapitalmarkets.4.Internationaltradeinvolvesimptingexptingactivities.Themajaccountingissueassociatedwithfeigntradeinvolvesaccountingffeigncurrencytransactions.Feigndirectinvestmentontheotherhinvol

10、vesconductingoperationsabroad.Thisactivityexposesaccountantstoanewsetofissuesthatrunthegamutfromhavingtoconsolidatefeigncurrencyaccountsbasedondiversemeasurementrulestoissuesofevaluatingtheperfmanceoffeignsubsidiarymanag

11、ers.5.Studentswilloverwhelminglyargueinfavofharmonization.Thisisprobablyagoodstartingpointfthecourse.AftertheyareintroducedtothechaptersleadinguptoChapter8somemaynolongerfeelthatharmonizationisnecessarilytheanswertoallof

12、theirinternationalaccountingproblems.6.RecentdevelopmentssuchasthegrowthspreadofmultinationaloperationsInternationalizationofthewld’scapitalmarketsincreasedcrossbdermergersacquisitionsthephenomenonofglobalcompetitionfina

13、ncialinnovationhave39.Englishshouldbedesignatedasthefmalinternationalaccountinglanguage.Technicalaccountingterms(termsofart)donottravelwellinternationally.Sincetechnicalaccountingtermsoftenhaveattributedmeanings(fexample

14、generallyacceptedaccountingprinciplesareneithergenerallyacceptednprinciples)itisdifficultimpossibletotranslatethesetermsintootherlanguagesretaintheiriginalmeanings.Inotherdisciplinessuchconsiderationshavecausedtheestabli

15、shmentofLatinastheuniversallanguagefbotanicalclassificationsItalianasthelanguagefspecifyingthetempo(othermattersofinterpretation)ofmusicalcompositionsEnglishasthelanguageofelectroniccomputing.Sinceaccountingisusedwldwide

16、asinglewldwidelanguagefaccountingmakessense.WhyshouldEnglishbethewldwidelanguagefaccountingEnglishalreadyhasbecomethelanguageofwldcommercemultinationalbusiness.ThustheuniversaluseofEnglishinaccountingwouldparallelawelles

17、tablishedbusinesspractice.AlsotheaccountingdisciplinewasinmanyrespectsdevelopedasanoffshootofAngloAmericaneconomicswhichmeansthatthelanguagerootsofmanyaccountingtermsconceptsareEnglish.AmongnonEnglishspeakingpeopleEnglis

18、histhemostcommonsecondlanguage.Thevastmajityofthewld’saccountingliteratureiswritteninEnglishnearlyallinternationalaccountingconventionsconferencesuseEnglishastheofficiallanguage.MultinationalcpationsgenerallyuseEnglishin

19、theiraccountingfinancialoperatingmanualsaswellasfcpatecommunicationswithoutregardtonationaldomiciles.TherefethewldwidebenefitsofadoptingEnglishastheuniversallanguageofaccountingarelikelytobegreaterthanfanyotherlanguageth

20、ewldwidecostsarelikelytobeless.10.Emergingmarketsarethosewhosefinancialsystemsareemergingfromstatedominationthroughaprocessofliberalization.Developedcountriesarethosewithliberalizedfinancialsystems.Manypeoplebelievethatl

21、iberalizationishighlybeneficialtosustainedeconomicgrowth.Manydifferentclassificationsofdevelopedversusemergingmarketcountriesareusedoftenthetermsarenotdefinedalthoughnoonecrectsetofdefinitionsfdevelopedemergingmarketsexi

22、sts.Studentsshouldbeencouragedtosuggesttheirowncriteriaastowhatconstitutesadevelopedasopposedtoanemergingmarket.Theemergingmarketcountriesareingeographicregionsthataregenerallynothighlyindustrialized.Butonecannotgenerali

23、zehereasextensiveeconomicliberalizationistakingplaceinthesecountries(insomemethaninothers).Fexampleentrybarrierstofeignbusinessesgovernmentregulationofbankingoperationscreditcontrolshavebeeneasedinmanyofthecountriesoncec

24、lassifiedas“emerging.”11.Privatizationsofstateownedcpationshavehaddramaticeffectsonglobalcapitalmarkets.Oftentheprivatizedentitiesarelargewellknowncompaniesinwhichthenationalgovernmentretainsalargeownershipinterestretail

25、(individualnoninstitutional)investsoftenareencouragedtobuysharesinnewlyprivatizedentities.Asaresulttheshareholderbaseinthemarketgrowsdramaticallyinvestsbecomemeactivemarketparticipantsmarketcapitalizationincreases.Privat

26、izationsalsomeanthatmanagementmustnowcompeteinthemarketplacefmarketshareexternalcapitalcpatecontrol.Insuchawldaccountingsystemsmustproperlymotivatemanagerstowktowardtheaccomplishmentoftheganization’soverallgoalsinaneffic