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1、International Accounting A User Perspective 2nd EditionInternational AccountingA User Perspective2nd Edition Introduction to International AccountingPart One Introduction to international accountingPart Two Accounting in the global areas(Germany,USA,Japan,UK) Part Three Accounting problems of develo
2、ping countries Part Four Accounting problems of Eastern Europe Part Five International accouting harmonizationPart Six : Technical issuesPart Seven: Analysis and interpretation of foreign financial statementsPart One Introduction to international accountingObjective One Describe the major users of a
3、ccounting information. Who are the major users of accounting information?1.Internal managers who use accounting information for short-term planning ,long-range planning, nonroutine decisions , controlling routine operations and formulating overall policies . 2.External parties,such as present and po
4、tential investors and long-term loan creditors,suppliers,banks ,customers, government authorities(both at home and ,for multinational enterprises , overseas) who use the information for making decisions about the company.?Management accounting&Financial accounting1.ConceptionManagement Accountin
5、g The process of identifing , measuring, accumulating, analyzing, preparing, interpreting and communicating information that helps managers fulfill the orgnizations objectives.Financial Accounting The field of accounting that develops information for external decisoin makers such as stockholders,sup
6、plies, banks,and government authorities.2.Distinctions? Management Accounting Financial AccountingPrimary usersOrganization managers at various levelsOutside parties such as investors and governments agents but also organization managersFreedom of ChoiceNo constraints other than costs in relation to
7、 benefits of improved management decisionsConstrained by generally accepted accounting principles(GAAP)Behavio-ralImplicat-ionsConcern about how measurements and reports will influence managersdaily behaviorConcern about how to measure and communicate economic phenomena. (Behavioral considerations a
8、re secondery)Time focus Future orientationPast orientationTime periods coveredFlexible ,varying from hourly to 10 to 15 years.Less flexible;usually 1 year or 1 month.ReportsDetailed reports Summary reports Delineat-ion of activitiesField is less sharply defined ?Field is more sharply defined ?Object
9、ive Two? What is the definition of international accounting?World accountingInternational accountingAccounting for foreign subsidiarys Choi and Mueller(1988)International Accounting extends general purpose, nationally oriented accounting in its broadest sense to:(1) international comparative analysi
10、s, (2) accounting measurement and reporting issues unique to multinational business transactions and the business form of the multinational enterprise,(3) accounting needs of international financial markets, and (4) harmonization of worldwide accounting and financial reporting diversity via politica
11、l, organizational, professional and standard-setting activities.Objective Three:? What are the topics covered by international accounting? Financial accounting topic Managerial accounting topic Comparative accounting topic Objective Four: International accounting groups and organizations1.Public-sec
12、tor organizationEEC,OECD,UN2.Private-sector organizationsIASC,IFACLearning Objectives:Identify the main environmental variables that shape accounting.Recognize the differing role of accounting throughout the world. Learning Objectives:Demonstrate the economic effects of accounting diversity. Appreci
13、ate the benefits of classifying countries into accounting clusters. Chapter Outline:1.IntroductionThe purpose of accounting provide information that is useful for making business and othereconomic decisions.Accounting is commonly referred to as the language of business. Accounting is the product of
14、its environment Accounting also influences the social environment. Interaction between Accounting and its environment Nature of Capital MarketWhether the market is predominantly equity-oriented or debt-oriented equity-oriented capital markets debt-oriented capital markets the financial instruments t
15、he globalization of capital markets equity-oriented capital marketsStock market-main source of capitalAnnual reportsMarketing devicePublic relations documentsAttract investorsGood performanceNot good performanceDebt-oriented capital marketsBank debt-main source of financingAnnual reportsSpartanMatte
16、r-of-factTendency-understate report earnings the level of sophistication of financial instruments the level of globalization of capital markets Type of Reporting RegimeType of Business EntitiesType of Legal System Level of Enforcement of RegulationsLevel of InflationPolitical and Economic Ties Statu
17、s of the Accounting ProfessionExistence of a Conceptual FrameworkQuality of Accounting Education 3.Diverse Roles of Accounting in Countries Policy Choices in Accounting 4.Effects of Diversity on Capital Markets 5.Classifications of Financial Accounting and Reporting Systems Review of Selected Classi
18、fication Studies 6.Major Challenges Facing Accounting Globally Global Harmonization Quality of Financial Reporting in Developed and Emerging Economies 7.Major Challenges Facing Accounting GloballySocial and Environmental Reporting Financial Reporting in the High Technology Era 1.Which of the followi
19、ng variables play a role in shaping accounting development?a.nature of capital marketsb.type of reporting regimec.type of business entitiesd.All of the above.e.Both a and c.2.High levels of financial disclosure are generally found in countriesa.where businesses raise their capital from a large and d
20、iverse investor/creditor group.b.where businesses raise their capital from the government.c.where there is a limited number of owners.d.where the sophistication of the financial community is not very high.e.where the cost of publishing financial statements is high.3.In countries where business capit
21、al needs are provided by only a few very large banksa.the level of disclosure in financial statements tends to be panies tend to devote significant resources to make their annual reports panies tend to use income-increasing accounting panies tend to understate reported earnings.e.All of the above 4.
22、Which of the following does not affect a countrys financial accounting orientation?a.The level of inflation.b.Political and economic ties with other countries.c.Status of the accounting profession.d.Quality of accounting education.e.All of the above affect a countrys financial accounting orientation
23、.5.In countries with micro-oriented accounting systems, the role of accounting isa.to provide investors with information on the true position of companies.b.to reflect the effect of government economic policies in company accounts.c.to provide inputs for industry or national accounting reports.d.to
24、determine the tax liability of business entities.e.All of the above.6.Which of the following is not true about accountings role in a macro-oriented environment,a.to provide investors with information on the true position of companies.b.to reflect the effect of government economic policies in company
25、 accounts.c.to provide inputs for industry or national accounting reports.d.to determine the tax liability of business entities.e.All of the above. 7.Which of the following is not an environmental factor affecting accounting?a.Level of enforcement of regulationsb.Nature of capital marketsc.Type of l
26、egal systemd.Languagee.Level of inflation9.In which pair of countries is there a strong private sector influence on financial accounting standard setting?a.France and Germany.b.China and Russia.c.France and the United Kingdom.d.Germany and Japan.e.The United Kingdom and the United States.10.Which of
27、 the following is an impetus for international accounting standards?a.The linkage of capital markets worldwide.b.Emerging democracies in Latin Americac.The new activist role of the OECDd.The collapse of communism in the former Soviet Unione.The emergence of the World Trade Organization (WTO)11.Among
28、 the factors affecting accounting development are the economic and political ties between countries. Which of the following pairs of countries do not have such ties with each other?a.Philippines and the United Statesb.Singapore and the United Kingdomc.Malaysia and Argentinad.Indonesia and the Nether
29、landse.France and Germany12.The status of the accounting profession is a factor that affects accounting development in countries. In which of the following countries is accounting not regarded favorably as a career choice?a.United Statesb.New Zealandc.Russiad.Australiae.Canada13.Which of the followi
30、ng is not typically included in an accounting conceptual framework?a.a statement of objectives of financial accountingb.targeted users of financial statementsc.limitations of financial statementsd.licensing criteria for public accountantse.characteristics of good financial accounting14.Which of the
31、following countries have conceptual frameworks for accounting?a.Singaporeb.Malaysiac.Indonesiad.Canadae.All of the above15.Identify the benefit(s) of classifying countries according to their accounting systems.a.Countries can learn from the accounting experiences of other countries in their group.b.
32、Countries can use other countries in their group as models for setting standards.c.Global standard-setters can anticipate the reaction to their proposed standards.d.MNCs can plan on the type of disclosure they need to provide in various countries.e.All of the above. 16.Which of the following account
33、ing patterns did Mueller 1967 identify in his pioneering classification study on Western, market-oriented economies?a.Macroeconomic patternb.Microeconomic patternc.Independent discipline approachd.Uniform approache.All of the above17.Which of the following was not among the accounting patterns ident
34、ified by Mueller 1967 in his pioneering classification study on Western, market-oriented economies?a.Macroeconomic patternb.Independent discipline approachc.Socialist approachd.Uniform approache.Microeconomic pattern18.Nobes 1983 classification study had the following European countries in the macro
35、-uniform, continental, tax-based family:a.Italy, France, W. Germany, Swedenb.Belgium, Spain, Italy, W. Germanyc.Italy, France, Spain, Swedend.Italy, France, Ireland, Spaine.Italy, France, Belgium, Spain19.Nobes 1983 classification study had the following countries in the micro-based, U.K. influence,
36、 family:a.Ireland, Netherlands, Canada, Australiab.Australia, New Zealand, U.K., Irelandc.Netherlands, Australia, U.K., U.S.Ad.Australia, Canada, U.K., Irelande.Netherlands, Australia, Canada, U.S.A.20.The major immediate challenges that face accounting in the global arena include:a.Global harmoniza
37、tionb.Financial reporting in emerging economiesc.Social and environmental reportingd.Financial reporting in the high technology erae.All of the aboveNew words and phrases国际贸易 international trade以货易货 barter结算 settlement货币兑换 currency exchange外币交易 foreign currency transactions国际借贷 international borrowi
38、ng国际融资活动 international financing直接投资 direct investment东道国 host countries跨国公司 multinational corporations/ multinational companies /MNC multinational enterprises/MNE母公司 parent company子公司 subsidiary company财务报表 financial statements会计差异 accounting variance合并财务报表 consolidated financial statements外币报表折算 t
39、ranslation of foreign currency statements通货膨胀 inflation国际会计师联合会International Federation of Accountants/IFAC国际审计准则International Standards for Auditing/ISA物价变动会计changing price accounting国际会计准则International Accounting Standards/IAS国际财务报告准则International Financial Reporting Standards/IFRSs国际会计准则理事会Intern
40、ational Accounting Standards Board/IASB证券交易所 stock exchange历史观 historical 6view会计国家化 accounting nationalization会计国际化 accounting internationalization比较观 comparative view比较会计模式 comparative accounting model协调观 harmonization view联合国 United Nations/UN经济合作和发展组织 Organization for Economic Cooperation and De
41、velopment/OECD欧盟 European Union证券委员会国际组织 International Orgnization of Securities Commissions/IOSCO会计职业界 accounting profession美国注册会计师协会 American Institute of Certified Public Accountants /AICPA美国会计协会 American Accounting Association财务会计准则委员会Financial Accounting Standards Board/FASB宏观国际会计macro-internat
42、ional accounting微观国际会计micro-international accountingChapter 2HARMONIZING FINANCIAL REPORTING STANDARDS GLOBALLY Learning Objectives:Recognize the arguments for and against harmonization. Identify the pressures for and the obstacles to harmonization. Learning Objectives:Become familiar with the main
43、organizations involved in harmonization.Examine some previous harmonization efforts. Compare harmonization approaches in EU and ASEAN. Chapter Outline: Rationale for Harmonization Pressures for Harmonization Obstacles to Harmonization Measuring Harmonization Supranational Organizations Engaged in Ac
44、counting Harmonization Other Harmonization Efforts Current Evidence on Harmonization Global RegionalA Tale of Two Regions - Comparing ASEAN to EU Chapter 3ACCOUNTING FOR CURRENCY EXCHANGE RATE CHANGES Learning Objectives:Provide an overview of foreign exchange markets and define related terminology.
45、 Describe the different types of foreign exchange exposure. Learning Objectives:Differentiate between foreign currency transaction and translation.Compare the different methods of accounting for foreign currency translation. Learning Objectives:Describe the main features of SFAS No. 52 and compare it to earlier standards.Present the translation methodology under IAS No. 21. Learning Objectives:Discuss the impact of the introducti