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Choi/Meek,6/e1InternationalAccountingFrederickD.S.ChoiGaryK.MeekChapter1:IntroductionChoi/Meek,6/e2LearningObjectivesHowisinternationalaccountingdistinctfromdomesticaccounting?Doesinternationalaccountinghaveahistory?HowtoIdentifyandexplainthethreebroadareasofaccounting?Whatfactorsarecontributingtotheimportanceofinternationalaccountingasafieldofstudy?Whatexternalandinternalreportingissuesarisewhenbusinessandinvestingtranscendnationalborders?Keywordsand
ExpressionTransnationalcorporations/multinationalcompany(MNC)ForeignSubsidiariesWorldAccountingInternationalComparativeAccountingDomesticaccountingVS.InternationalaccountingInternationalFinancial(management)AccountingMeasurementDisclosureAuditingChoi/Meek,6/e4
Introduction
Howisinternationalaccountingdistinctfromotherareasofaccounting?Choi/Meek,6/e5TheDefinitionofInternationalAccountingViewpoint1WorldAccounting——A
optimistic(乐观)viewpointInternationalaccountingisaglobalsystemthatshouldbeadoptedbyallcountries.Itoughttoestablishasetofgenerallyacceptedaccountingstandard.
Transnationalcorporationsaccordingthisstandardtopreparetheirfinancialstatement.Themajorcontentofthecourseisinternationalaccountingstandards.Itdiscussestheprinciples,proceduresandapproachesappliedintheworld.Choi/Meek,6/e6Viewpoint2InternationalComparativeAccounting——A
pessimisticviewpointInternationalaccountingisasubjectthatresearcheachcountry’saccounting.Itshouldincludestandard,methodandthevariousaccountingprinciplesofallcountries.Itcannothopethatestablishasetofinternational,idealaccountingprinciple.Internationalaccountingshouldbetheconvergenceofallcountries.Accountingstandardsandconventionsonworld.Choi/Meek,6/e7Viewpoint3
ForeignSubsidiariesAccounting——ApracticalviewpointInternationalaccountingisacoursethatresearchtheaccountingpracticeofparentcompanyandsubsidiary.Foreignsubsidiaryshouldusethecurrencymeasurementunitofthecountrywheretheyaretomakeaccount.Itsfinancialstatementwillaccordwiththatcountry’sregulation.Foreignsubsidiaryshouldcomparethedifferenceoftheaccountingprinciple,systemandmethodbetweenthehomelandandothercountries.Themajorcontentsofinternationalaccountingincludeshowtotranslatethefinancialstatementprepareduseforeigncurrencyunitintohomelandcurrencyunit;Howtopreparetheconsolidated
accountingstatementbetweenparentcompanywithsubsidiary;Andsoon.Choi/Meek,6/e8WhatisAccounting?
Accountingisaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusinesseconomicactivities
withmonetaryunitasamainmeasure(计量单位).Choi/Meek,6/e9Accordingtothistextbook:WhatisInternationalAccounting?DomesticAccountingItrefersaninformationsystemwhichprovidinginformationaboutafirmanditstransactionstofacilitateresourceallocationdecisionsbyusers.Theentitybeingreportedonisalocalenterpriseandtheentitywithreportingobligationstodomesticreaders.InternationalAccountingPⅡ,P1
Sameasaboveexceptthattheentity(主体)
beingreportedonisamultinationalcompanywithoperationsandtransactionsthatcrossnationalboundariesoranentitywithreportingobligationstonon-domesticreaders.Choi/Meek,6/e10TheMainContents
ofInternationalAccountingComparativeInternationalAccountingClassificationoftheglobalaccountingmodel.Comparethebasiccharacteristicsofaccountingenvironment,accountingmodel,accountingstandardssystem,accountingstandardandaccountingpracticeindifferentcountriesorregions.Tofindtheaccountingdifference,andstudyitsreason.Choi/Meek,6/e11TheMainContents
ofInternationalAccountingInternationalFinancialAccountingItmainlyresearchesontheproblemsofinternationalaccounting(multinationalenterpriseaccounting,peculiaraccountingproblemrelatedtoenterprise'sinternationaleconomicactivity)
Forexample:
Internationalfinancialreport,foreigncurrencyaccounting,foreigncurrencyreporttranslation,accountingforchangingprices(inflationaccounting),internationaltransferpricing,etc.Choi/Meek,6/e12TheMainContents
ofInternationalAccountingInternationalManagementAccounting
Itmainlyresearchesontheproblemssuchasfinancialstatementanalysis,managerialplanning,financialriskmanagement.andsoon.Choi/Meek,6/e13TheThreeAreasofAccountingPⅢ,P1MeasurementDisclosureAuditingChoi/Meek,6/e14Measurement(计量)
Measurement
istheprocessofidentifying,categorizing,andquantifyingeconomicactivitiesortransactions.*economicactivitiesortransactions经济业务Choi/Meek,6/e15Disclosure
Disclosureistheprocessbywhichaccountingmeasurementsarecommunicatedtotheirintendedusers.
Thisareafocusesonissuessuchaswhatistobereported,when,bywhatmeans,andtowhom.(4W)Choi/Meek,6/e16Auditing
Auditingistheprocessbywhichspecializedaccountingprofessionals(auditor)attesttothereliabilityofthemeasurementsandcommunicated
process.Whereasinternalauditorsarecompanyemployeeswhoanswertomanagement,externalauditorsarenonemployeeswhoareresponsibleforattestingthatthecompany’sfinancialstatementsarepreparedinaccordancewithgeneralacceptedstandards.Choi/Meek,6/e17HISTORICALPERSPECTIVEP2The
origin
ofAccountingInternationalizationP2Thehistoryofaccountingisaninternationalhistory(Accounting’sinternationalheritage世袭)Double-entry(复式记账)originatesintheItaliancitystates.BookkeepingspreadstoGermanyandassiststhespreadofcapitalism.Dutchenhanceperiodicincomemeasurement.Frenchuseaccountingforgovernmentalplanningandcontrol.DoubleentryassiststheBritishinmanagingandcontrollingcommercialinterestsinthecolonies.AccountingplaysamajorroleintheU.S.
industrialrevolution.
Choi/Meek,6/e19P2-3Paradox(悖论)ofinternationalaccountingInmanycountries,accountingremainsanationalistic(国家主义)affair.Accountingservespeopleandinstitutionswhosedecisionsareinternationalinscope.Accountingdiversity(多样化)createsademandforharmonization(协调).Choi/Meek,6/e20CONTEMPORARYPERSPECTIVEChoi/Meek,6/e22Whatfactorsarecontributingtotheimportanceofinternationalaccountingasafieldofstudy?Choi/Meek,6/e23ContributingFactorsGrowthandspreadofmultinationaloperations跨国经营的增长与扩展P6Choi/Meek,6/e25Choi/Meek,6/e26FinancialinnovationIdentifyingpotentialmarketrisksMeasuringriskexposuresAccountingforspecifichedgeproducts会计避险产品EvaluatingtheeffectivenessofhedgingprogramsContributingFactors(contin)Choi/Meek,6/e27ContributingFactors(contin)GlobalcompetitionCompetitivebenchmarking(基准)Necessitatesinternationalcomparisons.P11ContributingFactors(contin)Cross-bordermergersandacquisitionsP12Corporatevaluationisafunctionofaccountingmeasurementsthatvaryfromcountrytocountry.InternationalizationofcapitalmarketsP13Raisingexternalfinance(融资)abroadmeansthatfinancialreportsmustincreasinglytravelinternationally.Choi/Meek,6/e29Choi/Meek,6/e30Choi/Meek,6/e31ContributingFactors(contin)ReportingissuesassociatedwithinternationalizationofcapitalmarketsHowtoanalyzeandinterpretforeignaccounts?Howtoreporttoforeignreaders?Howtoharmonizereportingstandardsinternationally?Choi/Meek,6/e32Whatexternalandinternalreportingissuesarisewhenbusinessandinvestingtranscendnationalborders?Choi/Meek,6/e33ReportingissueswhenbusinesstranscendsnationalboundariesConsolidationofforeignaccountsAccountingforforeigncurrencyfluctuations(波动)AccountingforchangingpricesInternationalplanningandcontrolPerformanceevaluationofforeignoperationsFinancialriskmanagementInternationaltaxationandtransferpricingChoi/Meek,6/e34ExercisesCompletethefollowingsentences.1.Weviewaccountingasconsistingofthreebroadareas.Theyare______,________and_______.2.Double-entryoriginatesinthe____citystates.3.____
istheprocessofidentifying,categorizing,andquantifyingeconomicactivitiesortransactions4.Measurement
istheprocessof________,categorizing,andquantifyingeconomicactivitiesortransactions.
5._______focusesonissuessuchaswhatistobereported,when,bywhatmeans,andtowhom.6.Theauditorsweredividedintotwocategories:______auditorsand_______auditors._____arecompanyemployeeswhoanswertomanagementbut_____arenonemployeeswhoareresponsibleforattestingthatthecompany’sfinancialstatementsarepreparedinaccordancewithgeneralacceptedstandards.7.Foreigncurrencyreporttranslationisoneofthecontentsofinternational______accounting.
8.()isaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusinesseconomicactivities
withmonetaryunitasamainmeasure.9.Accountingisaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusiness()
withmonetaryunitasamainmeasure.10.Accountingisaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusinesseconomicactivities
with()unitasamainmeasure.Choi/Meek,6/e37Judgmenttheitembelowisfalseortrue.1.Domesticaccountingis
aninformationspecialtyprovidinginformationaboutafirmtousersofthatinformationasabasisforeconomicdecisions.2.Internationalaccountingisabranchofaccounting.Itresolvesthespecificaccountingpracticeofamultinationalcompanyorprovidinginformationofanentitytonon-domesticreaders.3.Accountingcanbedividedintothreebroadareas:measurement,disclosureandauditing.Judgmenttheitembelowisfalseortrue.4.Inthehistoryofaccounting,double-entryoriginatesintheBritishcitystates.5.Inthehistoryofaccounting,Dutchenhanceperiodicincomemeasurement.6.Theproblemssuchasmanagerialplanning,financialriskmanagementisthecontentwhichbelongstointernationalfinancialaccounting.7.Performanceevaluationofforeignoperationsisoneofthereportingissueswhenbusinesstranscendsnationalboundaries.8.Consolidationofforeignaccountsisoneofthereportingissueswhenbusinesstranscendsnationalboundaries.9.Growthandspreadofmultinationaloperationsisoneofthefact
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