国际会计学第六版chapter-1ppt课件

Choi/Meek,6/e,.,1,InternationalAccounting,6/e,FrederickD.S.ChoiGaryK.Meek,Chapter1:Introduction,Choi/Meek,6/e,.,2,LearningObjectives,Howisinternationalaccountingdistinctfromdomesticaccounting?Whatdoesinternationalaccountingdiversityentail?什么是国际会计的多样性需要Doesinternationalaccountinghaveahistory?Whatfactorsarecontributingtotheimportanceofinternationalaccountingasafieldofstudy?什么因素导致国际会计作为一个研究领域的重要性？,Choi/Meek,6/e,.,3,Whatexternalandinternalreportingissuesarisewhenbusinessandinvestingtranscendnationalborders?什么样的外部和内部报告的问题出现时，商业和投资超越国界Whatismeantbytheterm,globalcapitalmarkets,andwhatdoesdevelopmentmeanforcapitalmarketparticipants?全球资本市场，这个术语是什么意思，资本市场参与者的发展意味着什么？,Choi/Meek,6/e,.,4,WhatisInternationalAccounting?,Domesticaccounting:aninformationspecialtyprovidinginformationaboutafirmtousersofthatinformationasabasisforeconomicdecisions.一个信息类专业，提供关于公司的信息，信息使用者经济决策的依据。,Choi/Meek,6/e,.,5,Internationalaccounting(defined):sameasaboveexceptthatthefirmbeingreportedonisamultinationalcompanywithoperationsandtransactionsthatcrossnationalboundariesoranentitywithreportingobligationstonon-domesticreaders.他被报告的是跨越国界的跨国公司的公司业务和交易，或者报告义务的实体是非国内的读者。,Choi/Meek,6/e,.,6,WhatDoesInternationalAccountingDiversityEntail?（多样性需求）,Measurementprinciples计量模式Financialdisclosure(corporatetransparency)经济信息的披露（公司透明度）Auditingpractices审计实践,Choi/Meek,6/e,.,7,ContributingFactors影响因素,Accountingsinternationalheritage会计的国际历史Double-entryoriginatesintheItaliancitystates.复式记账起源于意大利的城邦。BookkeepingspreadstoGermanyandassiststhespreadofcapitalism.记账蔓延到德国并且助攻资本主义的蔓延。Dutchsharpendwaysofcalcilatingperiodicincome.荷兰人改进了计算周期性收入的方法。,Choi/Meek,6/e,.,8,Frenchuseaccountingforgovernmentalplanningandcontrol.DoubleentryassiststheBritishinmanagingandcontrollingcommercialinterestsinthecolonies.复式记账协助英国在殖民地的控制并且管理商业利益。AccountingplaysamajorroleintheU.S.industrialrevolution.会计在美国工业革命中起着重要的作用。,Choi/Meek,6/e,.,9,ContributingFactors,ParadoxofinternationalaccountingInmanycountries,accountingremainsanationalisticaffair.Accountingservespeopleandinstitutionswhosedecisionsareinternationalinscope.Accountingdiversitycreatesademandforharmonization.,Choi/Meek,6/e,.,10,ContributingFactors(contin)（意大利语，连续的，拉丁语让他继续）,Growthandspreadofmultinationaloperations,Choi/Meek,6/e,.,11,Choi/Meek,6/e,.,12,ContributingFactors(contin),ReportingissueswhenbusinesstranscendsnationalboundariesConsolidationofforeignaccountsAccountingforforeigncurrencyfluctuationsAccountingforchangingpricesInternationalplanningandcontrolPerformanceevaluationofforeignoperationsFinancialriskmanagementInternationaltaxationandtransferpricing,Choi/Meek,6/e,.,13,Financialinnovation,IdentifyingpotentialmarketrisksQuantifyingtrade-offsassociatedwithalternativeriskreductionstrategiesMeasuringriskexposuresAccountingforspecifichedgeproductsEvaluatingtheeffectivenessofhedgingprograms,Choi/Meek,6/e,.,14,ContributingFactors(contin),GlobalcompetitionCompetitivebenchmarkingnecessitatesinternationalcomparisons.,Choi/Meek,6/e,.,15,Choi/Meek,6/e,.,16,ContributingFactors(contin),Cross-bordermergersandacquisitionsCorporatevaluationisafunctionofaccountingmeasurementsthatvaryfromcountrytocountry.E.g.,theeinp/evaluationmultiples.InternationalizationofcapitalmarketsRaisingexternalfinanceabroadmeansthatfinancialreportsmustincreasinglytravelinternationally.,Choi/Meek,6/e,.,17,Choi/Meek,6/e,.,18,ContributingFactors(contin),ReportingissuesassociatedwithinternationalizationofcapitalmarketsHowtoanalyzeandinterpretforeignaccounts?Howtoreporttoforeignreaders?Howtoharmonizereportingstandardsinternationally?,Choi/Meek,6/e,.,19,OtherChapterExhibits,Choi/Meek,6/e,.,20,ChapterExhibits(contin),Choi/Meek,6/e,.,21,ChapterExhibits(contin),Choi/Meek,6/e,.,22,ChapterExhibits(contin),Choi/Meek,6/e,.,23,ChapterExhibits(contin),Choi/Meek,6/e,.,24,DISCUSSIONQUESTIONS,P26/1Inthedomesticcase,accountingisaninformationservicethatprovidesfinancialinformationaboutadomesticentitytodomesticusersofthatinformation.Internationalaccountingisdistinctiveinthattheentitybeingreportedoniseitheramultinationalcompanywithoperationsandtransactionsthattranscendnationalboundariesorinvolvesanentitywithreportingobligationstoreaderswhoarelocatedoutsidethereportingentityscountryofdomicile.,Choi/Meek,6/e,.,25,2.Advantage:Somemightarguethatmeasurement,disclosure,andexternalauditingarethreedistinct(althoughrelated)processes,involvingdifferentmembersofthecompany.Forexample,corporateattorneysoftenareinvolvedindisclosureissues,butseldominterveneinmeasurementissues.TheBoardofDirectorsworkswiththeexternalauditorsbutnotnecessarilywiththecomptrollersoffice.Thus,discussionofaccountingrequirementsandvoluntaryaccountingchoicesindifferentjurisdictionsissimplifiedbyfocusingonthethreecomponentsofaccounting.,Choi/Meek,6/e,.,26,Disadvantage:measurement,disclosureandauditingareinterdependent,andshouldnotbeviewedinisolationofoneanother.Acompanychoosingtodiscloseaslittleaspossible,forexample,mayuseaccountingmeasurementapproachesthatreducetheinformationcontentoffinancialstatements,andselectanexternalauditorwhowillberelativelylenientinenforcingaccountingrequirements.Onealternativeclassificationmightincludeaccounting(measurementanddisclosure),andauditing.Asecondclassificationmightincludefinancialreporting(annualandinterimreporting,regulatoryfilings)andadhocdisclosure(pressreleases,analystmeetings,etc).Anyclassificationisarbitrary,andpotentiallyusefuldependingonitspurpose.,Choi/Meek,6/e,.,27,3.Factorscontributingtotheinternationalizationofthesubjectofaccountinginclude:thegrowthandspreadofmultinationaloperationsaroundtheworld,thephenomenonofglobalcompetition,theincreasingnumberofcross-bordermergersandacquisitionsthatoccuralmostdaily,continuedadvancesininformationtechnology,andtheinternationalizationoftheworldscapitalmarkets.,Choi/Meek,6/e,.,28,4.Internationaltradeinvolvesimportingandexportingactivities.Themajoraccountingissueassociatedwithforeigntradeinvolvesaccountingforforeigncurrencytransactions.Foreigndirectinvestment,ontheotherhand,involvesconductingoperationsabroad.Thisactivityexposesaccountantstoanewsetofissuesthatrunthegamut()fromhavingtoconsolidateforeigncurrencyaccountsbasedondiversemeasurementrulestoissuesofevaluatingtheperformanceofforeignsubsidiarymanagers.,Choi/Meek,6/e,.,29,5.Studentswilloverwhelminglyargueinfavorofharmonization.Thisisprobablyagoodstartingpointforthecourse.AftertheyareintroducedtothechaptersleadinguptoChapter8,somemaynolongerfeelthatharmonizationisnecessarilytheanswertoalloftheirinternationalaccountingproblems.,Choi/Meek,6/e,.,30,6.Recentdevelopmentssuchasthegrowthandspreadofmultinationaloperations,internationalizationoftheworldscapitalmarkets,increasedcrossbordermergersandacquisitions,thephenomenonofglobalcompetition,andfinancialinnovationhaveincreasedreaderdependenceonforeignfinancialstatements.Internationalaccountingissueshavebecomemorecomplexinrecentyearsforseveralreasons:(1)theuseofcomplexfinancialinstrumentsanddevelopingaccountingstandardsfortheseexoticinstrumentshasbeenproblematic.,Choi/Meek,6/e,.,31,(2)Globalfinancialmarketsalsoarebecomingmorevolatile,leadingtolargechangesinassetandbalancesheetamounts(suchasrelatedtoinvestments)andmajorsourcesofincomeandexpense.Therelatedaccountingissuesaredifficult.(3)Thegrowinginternationalizationofbusinessalsopromotescomplexity.Foreigncurrencytransactionsandtranslationhavebeentroublesomeaccountingissuesforyears,andarebecomingmoreimportantascross-borderbusinessandfinanceincrease.(4)differencesinnationalaccountingprinciplespotentiallyaremoretroublesomeasbusinessbecomesmoreinternational.However,asconvergenceeffortsworldwideaccelerate,andmoreandmorecompaniesandcountriesadoptInternationalFinancialReportingStandards(IFRS),complexityarisingfromdifferencesinnationalaccountingprincipleswilldecrease.,Choi/Meek,6/e,.,32,7.Examplesofexternalreportingissuesinclude:Doestranslationfromonesetofmeasurementrulestoanotherchangetheinformationcontentoftheoriginalmessage?Shouldaccountsofforeignoperationsbetranslatedtoparentcurrencywhenconsolidatedstatementsareprepared?Whichexchangeratesshouldbeemployedwhentranslatingfromonecurrencytoanother?Examplesofinternalreportingissuesinclude:Whichexchangeratesshouldbeusedforbudgetingpurposes?Shouldforeignmanagersbeevaluatedintermsofparentcurrencyorthelocalcurrencyofthecountryinwhichthemanageroperates?Whichpricesshouldoneusewhentransferringgoodsorservicesbetweenmembersofthemultinationalenterprisecost,market,cost-plus,orsomeothermetric?,Choi/Meek,6/e,.,33,8.Globalcapitalmarketactivitiesandtransactionsreachbeyondsinglepoliticalorlegaljurisdictions.Forexample,globalcapitalmarkettransactionsincludethefollowing:(1)anAmericantouristbuyingAustraliandollarsfortravelpurposesintheSouthPacific;(2)aJapaneseinsurancecompanybuyingGermangovernmentbondsasaninvestment;and(3)aNigerianagriculturaldevelopmentprojectreceivingcashsubsidiesfromtheEuropeanUnion(EU).,Choi/Meek,6/e,.,34,Theinternationalequitiesmarketisoneglobalcapitalmarket.Asecondsuchmarketcoversforeignexchangetransactions,thatis,whenonenationalcurrencyisexchangedinto,tradedforward,hedged,swapped,orotherwiseconvertedtoanothernationalcurrency.ThismarketisestimatedathundredsofbillionsofU.S.dollarsperday.Thetotalworldforeignexchangemarketisthelargestmarketonearth.Theinternationalbondmarketisstillanotherglobalcapitalmarket.Thebondsconstitutingthismarketareunderwrittenbyinternationalsyndicatesofbanksandaremarketedandtradedallovertheworld.Globalcapitalmarketsareavitalpartoftheworldeconomy.,Choi/Meek,6/e,.,35,10.Thoseoppos