会计学-企业决策的基础-14版-15解析课件

GLOBALBUSINESSANDACCOUNTINGChapter

15LearningObjectiveLO1Todefinefourmechanisms

companiesusetoglobalize

theirbusinessactivities.GlobalizationOccursasmanagersbecomeawareofandengageincross-bordertradeandoperations.Ahighlevelofglobalizationisamultinationalenterprisethatbeginswithrawmaterialextractionandendswithfinalproductassemblyandsalesinmultipleforeignlocations.GlobalizationGlobalizationtypicallyprogressesthroughaseriesofstagesthatinclude:ExportingLicensingJointventuresWhollyownedsubsidiariesGlobalsourcing.LearningObjectiveLO2Toidentifyhowglobal

environmentalforces—

(a)politicalandlegalsystems,

(b)economicsystems,

(c)culture,and(d)technology

andinfrastructure—affect

accountingpractices.EnvironmentalForces

ShapingGlobalizationGlobalizationPoliticalandlegal

systemEconomic

systemCultureTechnologyand

infrastructureEnvironmentalForces

ShapingGlobalizationPlannedEconomy

GovernmentownsfactorsofproductionMarketEconomy

PeopleownsfactorsofproductionEnvironmentalForces

ShapingGlobalizationLearningObjectiveLO3Toexplainwhythereis

demandforharmonization

ofglobalfinancial

reportingstandards.HarmonizationofFinancialReportingStandardsTheInternationalAccountingStandardsBoard(IASB)hasasoneofitsstatedgoalstheharmonizationofaccountingstandards.Harmonizationisusedtodescribethestandardizationofaccountingmethodsandprinciplesusedindifferentcountriesthroughouttheworld.HarmonizationofFinancialReportingStandardsLearningObjectiveLO4Todemonstratehowto

convertanamount

ofmoneyfromone

currencytoanother.ForeignCurrencies

andExchangeRatesAnexchangerateistheamountitcoststopurchaseoneunitofcurrencywithanothercurrency.¥1,000,000×$0.00764=$7,640LearningObjectiveLO5Tocomputegainsorlosses

onreceivablesorpayables

thatarestatedina

foreigncurrencywhen

exchangeratesfluctuate.AccountingforTransactions

withForeignCompaniesOnJanuary1,2007,aU.S.companypurchasesequipmentfromanItaliancompanyfor€100,000.Theamountispayableinfullonthatdate.OnJanuary1,2007,theexchangerateis$0.97perEuro.U.S.companypurchases€100,000fromfinancialinstitution.AccountingforTransactions

withForeignCompaniesOnJanuary1,2007,aU.S.companypurchasesequipmentfromanItaliancompanyfor€100,000.TheamountispayableinfullonFebruary15,2007.OnJanuary1,2007,theexchangerateis$0.97perEuro.At1/31/07thespotexchangerateis€1=$0.96.On2/15/07,theexchangerateis€1=$0.98.AccountingforTransactions

withForeignCompaniesOnJanuary1,2007,aU.S.companypurchasesequipmentfromanItaliancompanyfor€100,000.TheamountispayableinfullonFebruary15,2007.OnJanuary1,2007,theexchangerateis$0.97perEuro.At1/31/07thespotexchangerateis€1=$0.96.On2/15/07,theexchangerateis€1=$0.98.AccountingforTransactions

withForeignCompaniesOnJanuary1,2007,aU.S.companypurchasesequipmentfromanItaliancompanyfor€100,000.TheamountispayableinfullonFebruary15,2007.OnJanuary1,2007,theexchangerateis$0.97perEuro.At1/31/07thespotexchangerateis€1=$0.96.On2/15/07,theexchangerateis€1=$0.98.LearningObjectiveLO6Todescribeseveral

techniquesfor

“hedging”againstlosses

fromfluctuations

inexchangerates.HedgingFairValueHedge

Anygainorlossisrecognizedcurrentlyinearnings.Ifthehedgeisonavailable-for-salesecurities,anygainorlossisreportedinothercomprehensiveincomeontheequitysectionofthebalancesheet.Futurecontractsaretherightto

receiveaspecifiedquantityof

foreigncurrencyatafuturedate.TranslationofForeignCurrencyFinancialStatementsThisisthefirstyearofoperationsfora100%ownedMexicansubsidiaryoftheU.S.enterprise,Matrix,Inc.TranslationofForeignCurrencyFinancialStatementsTranslationofForeignCurrencyFinancialStatementsIfdividendsarepaid,thetranslationisbasedonthehistoricalratewhenthedividendispaid.Thetranslatedendingretainedearningscarriesforwardtothenextaccountingperiod.TranslationofForeignCurrencyFinancialStatementsThetranslationadjustmentisreportedinothercomprehensiveincomeintheequitysectionofthebalancesheetLearningObjectiveLO7Todiscusshowglobal

sourcingincreases

productcostcomplexity.GlobalSourcingDifferencesinexchangeratesinmanydifferentcountriescancreatesignificantcomplexitiesforfirmspracticingglobalsourcing.Manycompaniesunderestimatethecostofglobalizingtheirbusinessoperationsbecausetheyarenotfamiliarwiththeenvironmentalcharacteristicspreviouslydiscussed.€¥£₣₧Customs

dutiesImport

feesMulticountry

taxlawsTax

treatiesLearningObjectiveLO8Toexplaintheimportance

oftheForeignCorrupt

PracticesAct.

Inmanycountriesaroundtheworld,briberyispartofdoingbusiness.Inmanycountries,thisofficiallysanctionedcorruptionisnotviewedaswrongorunethical.However,U.S.-basedbusinessesareprohibitedfrominfluencepeddling.TheIMFandWorldBankinstitutedpoliciestocutofffundingtocountriesignoringcorruptpractices.ForeignCorruptPracticesActEthics,Fraud,and

Corporate