国际商务——希尔英文PPT19讲课教案.ppt 35页

国际商务——希尔英文PPT19 IntroductionAccountingisthelanguageofbusiness–itisthewayfirmscommunicatetheirfinancialpositionsAccountingstandardsdifferfromcountrytocountryThesedifferencesmakeitdifficultforinvestors,creditors,andgovernmentstoevaluatefirmsTheInternationalAccountingStandardsBoard(IASB)hasmadesomeattemptstoestablishcommonaccountingandauditingstandardsacrosscountries IntroductionFigure19.1 CountryDifferencesInAccountingStandardsAcountry’saccountingsystemevolvesinresponsetolocaldemandsforaccountinginformationWhiletherehavebeeneffortstoharmonizeaccountingpracticesacrosscountries,significantdifferencesremainOnestudyfoundthatamong22countries,therewere76waystoassessthecostofgoodssold,65differencesinthecalculationofreturnonassets,and20waystocalculatenetprofitsThedifferencesmakeitchallengestocomparefinancialperformanceoffirmsfromdifferentcountries CountryDifferencesInAccountingStandardsFivemainvariablesinfluencethedevelopmentofacountry’saccountingsystem:1.therelationshipbetweenbusinessandtheprovidersofcapital2.politicalandeconomictieswithothercountries3.thelevelofinflation4.thelevelofacountry’seconomicdevelopment5.theprevailingcultureinacountry CountryDifferencesInAccountingStandardsFigure19.2 RelationshipBetweenBusinessAndProvidersOfCapitalThethreemainexternalsourcesofcapitalforfirmsare:IndividualinvestorsBanksGovernmentAcountry’saccountingsystemreflectstherelativeimportanceofeachconstituencyasaproviderofcapitalSo,accountingsystemsintheU.S.andGreatBritainareorientedtowardindividualinvestors;Switzerland,Germany,andJapanfocusonprovidinginformationtobanks;andFranceandSwedenpreparefinancialdocumentswiththegovernmentinmind ClassroomPerformanceSystem_______hasanaccountingsystemthatwasdevelopedwiththegovernmentinmind.a)Franceb)Japanc)GreatBritaind)Germany PoliticalAndEconomicTiesWithOtherNationsSimilaritiesinaccountingsystemsacrosscountriescanreflectpoliticaloreconomictiesTheU.S.accountingsysteminfluencesthesystemsinCanadaandMexicoIntheEuropeanUnion,countriesaremovingtowardcommonstandards InflationAccountingThehistoriccostprincipalassumesthecurrencyunitusedtoreportfinancialresultsisnotlosingitsvalueduetoinflationThisprincipleaffectsassetvaluationIfinflationishigh,assetswillbeundervalued LevelOfDevelopmentDevelopednationstendtohavemoresophisticatedaccountingsystemsthandevelopingcountriesManydevelopingnationshaveaccountingsystemsthatwereinheritedfromformercolonialpowers CultureTheextenttowhichacultureischaracterizedbyuncertaintyavoidance(theextenttowhichculturessocializetheirmemberstoacceptambiguoussituationsandtolerateuncertainty)impactsthecountry’saccountingsystemCountrieswithlowuncertaintyavoidancecultureshavestrongindependentauditingprofessions NationalAndInternationalStandardsAccountingstandardsarerulesforpreparingfinancialstatements—theydefineusefulaccountinginformationAuditingstandardsspecifytherulesforperforminganaudit—thetechnicalprocessbywhichanindependentpersongathersevidencefordeterminingiffinancialaccountsconformtorequiredaccountingstandardsandiftheyarealsoreliable LackOfComparabilityBecauseofnationaldifferencesinaccountingandauditingstandards,comparabilityoffinancialreportsfromonecountrytoanotherisdifficultThegrowthoftransnationalfinancingandtransnationalinvestmentispromotingthegrowthoftransnationalfinancialreporting InternationalStandardsTherehasbeenasubstantialeffortrecentlytoharmonizeaccountingstandardsacrosscountriesManycompaniesobtaincapitalfromforeignproviderswhoaredemandinggreaterconsistencyCommonaccountingstandardswillfacilitatethedevelopmentofglobalcapitalmarketsTheInternationalAccountingStandardsBoard(IASB)isamajorproponentofstandardizationTheIASBcurrentlyhas45standards,butcomplianceisvoluntaryAbout100nationshaveadoptedIASBstandardsorpermittedtheiruseinreportingfinancialresults ClassroomPerformanceSystemWhichorganizationisresponsibleforformulatinginternationalaccountingstandards?theGlobalFederationofAccountantstheWorldBanktheInternationalAccountingStandardsBoardtheInternationalPanelofAccountingStandardsandEthics ClassroomPerformanceSystemTheIASBcurrentlyhasabout____standards.a)10b)25c)45d)95 InternationalStandardsMostIASBstandardsareconsistentwithstandardsalreadyinplaceintheUnitedStatesTheEuropeanUnionhasmandatedharmonizationofaccountingprinciplesinitsmembercountriesBy2010,therecouldbeonlytwomajoraccountingbodieswithsubstantialinfluenceonglobalreporting–FASBintheUnitedStatesandIASBelsewhere ClassroomPerformanceSystemBy2010,whichtwoaccountingbodiesareexpectedtodominateaccountingpractices?a)ThehistoriccostprincipleandFSABb)FSABandtheIASBc)TheIASBandthehistoriccostprincipled)Thecurrentratemethodandthehistoriccostprinciple MultinationalConsolidationAndCurrencyTranslationAconsolidatedfinancialstatementcombinestheseparatefinancialstatementsoftwoormorecompaniestoyieldasinglesetoffinancialstatementsasiftheindividualcompanieswerereallyoneMultinationalfirmstypicallyissueconsolidatedfinancialstatements ConsolidatedFinancialStatementsThetypicalmultinationalcompanyismadeupofaparentcompanyandanumberofsubsidiarycompaniesEconomically,allthecompaniesareinterdependentTheconsolidatedfinancialstatementprovidesaccountinginformationaboutthegroupofcompaniesTransactionsamongmembersofacorporatefamilyarenotincludedinconsolidatedfinancialstatements,however,becauseseparatelegalentitiesarerequiredtokeeptheirownaccountingrecordstheyrecordtransactionswithothermembersofthecorporatefamilyinseparatestatementsTheIASBrequiresfirmstoprepareconsolidatedfinancialstatements,asdomostindustrializednations CurrencyTranslationForeignsubsidiariesusuallykeepaccountingrecordsandpreparefinancialstatementsinthelocalcurrencyToprepareconsolidatedfinancialstatements,alllocalfinancialstatementsmustbeconvertedtothehomecurrencyTherearetwomethodstodeterminewhatexchangerateshouldbeusedwhentranslatingfinancialstatementcurrencies:1.thecurrentratemethod2.thetemporalmethod TheCurrentRateMethodUnderthecurrentratemethod,theexchangerateatthebalancesheetdateisusedtotranslatethefinancialstatementsofaforeignsubsidiaryintothehomecurrencyofthemultinationalfirmThecurrentratemethodisincompatiblewiththehistoriccostprinciple TheTemporalMethodThetemporalmethodtranslatesassetsvaluedinaforeigncurrencyintothehomecurrencyusingtheexchangeratethatexistswhenassetsarepurchasedSo,whilethetemporalmethodavoidstheproblemsassociatedwiththecurrentratemethod,itisstillproblematicbecausedifferentexchangeratesareusedtotranslateforeignassets CurrentU.S.PracticeU.S.multinationalsarerequiredtofollowFASB52whichstates:thefunctionalcurrencyisthelocalcurrencyofeachself-sustainingforeignsubsidiarybalancesheetsshouldbetranslatedintothehomecurrencyusingtheexchangerateineffectattheendofthefirm’sfinancialyearincomestatementsaretranslatedusingtheaverageexchangerateforthefirm’sfinancialyear ClassroomPerformanceSystemWhenafirmusestheexchangerateatthebalancesheetdatetotranslatefinancialstatementsofaforeignsubsidiaryintothehomecurrency,thefirmisusinga)thetemporalmethodb)thecurrentratemethodc)FASB52d)thehistoriccostprinciple ClassroomPerformanceSystemFinancialstatementsofU.S.firmsmustbepreparedaccordingtoa)FASBb)IASBc)IFACd)EUAC AccountingAspectsOfControlSystemsThecontrolprocessinmostfirmsisusuallyconductedannuallyandinvolvesthreesteps:1.subunitgoalsarejointlydeterminedbytheheadofficeandsubunitmanagement2.theheadofficemonitorssubunitperformancethroughouttheyear3.theheadofficeintervenesifthesubsidiaryfailstoachieveitsgoal,andtakescorrectiveactionsifnecessaryTwofactorsthatcancomplicatethecontrolprocessareexchangeratechangesandtransferpricingpractices ExchangeRateChangesAndControlSystemsMostinternationalfirmsrequirebudgetsandperformancedatatobeexpressedinthecorporatecurrency-normallythehomecurrencyWhilethisfacilitatescomparisonsbetweensubsidiaries,itcanalsocreatedistortionsinfinancialstatements TheLessard-LorangeModelDonaldLessardandPeterLorangesuggestthatfirmscandealwiththeproblemsofexchangeratesandcontrolinthreeways:1.theinitialrate-thespotexchangeratewhenthebudgetisadopted2.theprojectedrate-thespotexchangerateforecastfortheendsofthebudgetpicture3.theendingrate-thespotexchangeratewhenthebudgetandperformancearebeingcompared TheLessard-LorangeModelFigure19.3 TheLessard-LorangeModelLorangeandLessardsuggestthatfirmsusetheprojectedspotexchangerate(usuallytheforwardexchangerate)totranslatebudgetandperformancefiguresintothecorporatecurrencyFirmscanalsousetheinternalforwardrate(company-generatedforecastoffuturespotrates) TransferPricingAndControlSystemsThepriceatwhichgoodsandservicestransferredwithinthefirmisthetransferpriceThechoiceoftransferpricecansignificantlyinfluencetheperformanceofsubsidiariesTransferpricesshouldbeconsideredwhenevaluatingasubsidiary’sperformanceCompaniescanmanipulatetransferpricestominimizetaxliability,minimizeimportduties,andavoidgovernmentrestrictionsoncapitalflows SeparationOfSubsidiaryAndManagerPerformanceTheevaluationofasubsidiaryshouldbekeptseparatefromtheevaluationofitsmanagerAmanager’sevaluationshouldconsiderthecountry’senvironmentforbusiness,andshouldtakeplaceaftermakingallowancesforthoseitemsoverwhichmanagershavenocontrol 此课件下载可自行编辑修改，仅供参考！感谢您的支持，我们努力做得更好！谢谢