国际商务(最新版)精品课件Chap019
合集下载
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
Chapte r
19
Accounting in International Business
Case: Adoption of International accounting standards in Germany
• In Germany market for debt is expensive, limited possibility for raising additional equity • German firms begin to raise equity on international capital markets only in 1990 • Major German firms apply for listing on the US Securities and Exchange commission (SEC) • SEC was not responsive because German accounting standards were not comparable to those in the US Not enough information to investors • Adhering to generally accepted accounting 19-2 principles ( GAAP) has its positives and
• Three external sources of capital:
– Individual investors
• Buying shares and bonds
– Banks.
• Loan capital
– Government
• Make loans or investment
Importance of each varies from country to country
• Diverse accounting practices are enshrined in national accounting and auditing standards • Accounting standards: Rules for preparing financial statements • Auditing standards: Specify rules for performing an audit
Accounting information and capital flows
Fig19.1
19-3
Determinants of national accounting standards
Fig19.1
19-4
Relationship between business and providers of capital
19-9
Accounting clusters
• Few countries have identical accounting systems. • Similarities exist in clusters
19-10
Accounting clusters
British-American-Dutch Group
Europe-Japan Group
Have close ties to banks. Accounting practices meet bank’s needs.
19-11
Accounting clusters
Map 19.1
19-12
National and international standards
Level of development
• Developed countries have more sophisticated accounting procedures
– Accounting problems are more complex – Sophisticated capital markets – Lenders require comprehensive reports – Educated workforce can perform complex accounting functions
Firms raise capital from investors. Accounting systems designed to inform investors
South American Group Countries have experienced persistent and rapid inflation. Accounting principles reflect the inflation.
19-6
19-7
Inflation accounting
• Historic cost principle:
– Assumes currency is not losing value to inflation – Most significant impact in the area of asset valuation – Appropriateness varies with inflation • Current cost accounting: – Factors out inflation – Used in Great Britain until inflation rate declined
ห้องสมุดไป่ตู้
19-8
Culture
• Hofstede‟s uncertainty avoidance has an impact on accounting systems
– Low uncertainty avoidance - these countries tend to have strong independent auditing professions that ensure a firm‟s compliance with rules
19-5
Political and economic ties with other countries
• Accounting convergence:
– Influence of NAFTA
– Influence of the former British Empire
– Influence of the European Union
19
Accounting in International Business
Case: Adoption of International accounting standards in Germany
• In Germany market for debt is expensive, limited possibility for raising additional equity • German firms begin to raise equity on international capital markets only in 1990 • Major German firms apply for listing on the US Securities and Exchange commission (SEC) • SEC was not responsive because German accounting standards were not comparable to those in the US Not enough information to investors • Adhering to generally accepted accounting 19-2 principles ( GAAP) has its positives and
• Three external sources of capital:
– Individual investors
• Buying shares and bonds
– Banks.
• Loan capital
– Government
• Make loans or investment
Importance of each varies from country to country
• Diverse accounting practices are enshrined in national accounting and auditing standards • Accounting standards: Rules for preparing financial statements • Auditing standards: Specify rules for performing an audit
Accounting information and capital flows
Fig19.1
19-3
Determinants of national accounting standards
Fig19.1
19-4
Relationship between business and providers of capital
19-9
Accounting clusters
• Few countries have identical accounting systems. • Similarities exist in clusters
19-10
Accounting clusters
British-American-Dutch Group
Europe-Japan Group
Have close ties to banks. Accounting practices meet bank’s needs.
19-11
Accounting clusters
Map 19.1
19-12
National and international standards
Level of development
• Developed countries have more sophisticated accounting procedures
– Accounting problems are more complex – Sophisticated capital markets – Lenders require comprehensive reports – Educated workforce can perform complex accounting functions
Firms raise capital from investors. Accounting systems designed to inform investors
South American Group Countries have experienced persistent and rapid inflation. Accounting principles reflect the inflation.
19-6
19-7
Inflation accounting
• Historic cost principle:
– Assumes currency is not losing value to inflation – Most significant impact in the area of asset valuation – Appropriateness varies with inflation • Current cost accounting: – Factors out inflation – Used in Great Britain until inflation rate declined
ห้องสมุดไป่ตู้
19-8
Culture
• Hofstede‟s uncertainty avoidance has an impact on accounting systems
– Low uncertainty avoidance - these countries tend to have strong independent auditing professions that ensure a firm‟s compliance with rules
19-5
Political and economic ties with other countries
• Accounting convergence:
– Influence of NAFTA
– Influence of the former British Empire
– Influence of the European Union