国际会计学第六版chapterPPT课件

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国际会计学第六版_chapter_3.ppt

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France
Overview
“The Plan” – national uniform chart of accounts (national accounting code)
Objectives and principles of financial reporting Definitions of elements Recognition and valuation rules Standardized chart of accounts Model financial statements
Other influences on French accounting rules
Commercial legislation (Code de Commerce)
Tax laws
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France (contin)
Accounting regulation and enforcement CNC – National Accounting Board
Generally, IFRS consolidated statements are permitted for non-listed companies.
Requirements for individual company financial statements vary – IFRS may be required, allowed, or prohibited.
Describe the audit-oversight mechanisms in these five cpean Union
Starting in 2005, all EU-listed companies must follow IFRS in their consolidated financial statements.

国际会计学第六版chapter_4

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Mexico
Overview
Accounting is oriented toward fair presentation despite code law legal system General price-level accounting (inflation-adjusted financial statements) are a
Mexican Institute of Public Accounting Issues auditing standards through its Auditing Standards and Procedures Commission
Unusual features of Mexican financial reporting
Explain the difference between principles-based and rules-based accountiates
Overview
Financial Accounting Standards Board (FASB)
Forecasts of cash flows, capital investments, and production in statutory filings
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China
Overview
Embracing IFRS as part of structural market reforms Ministry of Finance responsible for all aspects of
Financial Accounting Standards Board
Conceptual Framework is a significant feature of accounting standard setting Standard setting in the U.S. is both political and technical Generally accepted accounting principles (GAAP) are voluminous and detailed Committed to converging U.S. GAAP with IFRS

国际会计学第六版chapter6

How does the temporal method of currency translation differ from the current rate method?
What is the relationship between currency translation and inflation?

Choi/Meek, 6/e
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How does a translation gain or loss differ from a transactions gain or loss?
Is there more than one way of translating financial statements from one currency to another? If so, what are they?
Facilitates reporting domestic accounts to foreign audiences-of-interest.
Choi/Meek, 6/e
5
Types of Transaction Rates
Spot transactions: the physical exchange of one currency for another in which delivery takes place immediately.
At each balance sheet date, recorded balances denominated in a currency other than the functional currency of the reporting entity is adjusted to reflect the current exchange rate.

国际会计学第六版chapter课件

Have a basic understanding of the following selected corporate financialdisclosure practices: (a) disclosures of forward-looking information, (b) segment disclosures, (c) social responsibility reporting, (d) special disclosures for nondomestic financial statement users, and (e) corporate governance disclosures.
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Development of Disclosure
Voluntary disclosure
Voluntary disclosures are increasing as investors demand more detailed and timely information.
But managers’ incentives for disclosure aren’t always aligned with those of investors.
International Accounti. Meek
Chapter 5: Reporting and Disclosure
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Learning Objectives
Distinguish voluntary and mandatory disclosure and the applicable regulatory measures.
Disclosure regulations and third party certification can improve the functioning of capital markets.

国际会计学第六版chapter4-资料.ppt

2020/12/30
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United States (contin)
• Unusual features of U.S. financial reporting – No federal law for preparing financial statements or having them audited, except for listed companies – LIFO – Rules-based GAAP versus principles-based GAAP
• Principles-based
– Sets forth broad objectives and fundamentals – Requires professional judgment for implementation – More flexible – May result in more divergence in practice
• Explain the difference between principles-based and rules-based accounting standards.2/30
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United States
• Overview
– Financial Accounting Standards Board (FASB)
2020/12/30
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Learning Objectives
• Understand how financial reporting is regulated and enforced in five countries of the Americas and Asia: the U.S., Mexico, Japan, China, and India.

国际会计学第六版chapter6-

increases or decreases in the reporting
currency equivalent of the foreign currency.
Choi/Meek, 6/e
13
Current rate: the exchange rate prevailing as of the financial statement date. Changes the reporting currency equivalent of a foreign currency item whenever exchange rates change. Use of the current rate gives rise to translation gains and losses.
International Accounting, 6/e Frederick D.S. Choi Gary K. Meek
Chapter 6:
Foreign Currency Translation
Choi/Meek, 6/e
1
Learning Objectives
Why do firms translate from one currency to another?
At the transaction date, each asset, liability, revenue, and expense denominated in a foreign currency is measured and recorded in the functional currency of the reporting entity at the spot exchange rate in effect on that date.

国际会计学第六版chapter8

国际会计学第六版chapter8国际会计学第六版弗雷德里克.D.S.乔伊课件International Accounting, 6/e Frederick D.S. Choi Gary K. MeekChapter 8: Global Accounting and Auditing Standards1国际会计学第六版弗雷德里克.D.S.乔伊课件Learning ObjectivesDefine and understand the distinction between “harmonization” and “convergence” as they apply to accounting standards. State the pros and cons of adopting international accounting standards. Understand what is meant by “reconciliation” and “mutual recognition” of different sets of accounting standards.2国际会计学第六版弗雷德里克.D.S.乔伊课件Identify the six organizations that have leading roles in setting international accounting standards and promoting international accounting convergence. Describe the structure of the International Accounting Standards Board and how it setsInternational Financial Reporting Standards. Understand the major provisions of the U.S. Sarbanes-Oxley Act and why similar legislation is being enacted in other countries.3国际会计学第六版弗雷德里克.D.S.乔伊课件Standardization, Harmonization, and ConvergenceStandardization Rigid, narrow set of rules One-size-fits-all approach Less flexible than harmonization or convergence Not the current thinking4国际会计学第六版弗雷德里克.D.S.乔伊课件HarmonizationStandards that are patible C no logical conflicts Means the elimination of differences among existing accounting standards ConvergenceMeans the gradual elimination of differences in accounting standards But might also involve a new accounting treatment not in any current standard Involves cooperative efforts of IASB and national standard-setters Now the preferred term over harmonization5国际会计学第六版弗雷德里克.D.S.乔伊课件A Survey of International ConvergenceAdvantages of international convergenceInvestor understanding and confidence is improved. Investor decision making is improved. Capital is allocated more efficiently around the world. Financial risk and cost of capital are reduced. Strategic decision making in mergers and acquisition is improved.6国际会计学第六版弗雷德里克.D.S.乔伊课件Criticisms of international standardsSolution is too simple for such a plex problem. Strips accounting of its flexibility to adapt to different situations. Challenges national sovereignty. A tactic of large accounting firms to expand their market share. May create standards overload.7国际会计学第六版弗雷德里克.D.S.乔伊课件A Survey of International ConvergenceReconciliation and mutual recognition ReconciliationFinancial statements based on home GAAP, but net e and stockholders’ equity reconciled to another GAAP. This is the SECrequirement for foreign filers. Less costly than preparing plete financial statements based on another GAAP. But a summarized, plete picture.8国际会计学第六版弗雷德里克.D.S.乔伊课件Mutual recognition (reciprocity)Jurisdictions accept financial statements based on each other’s GAAP. Does not improve parability. Can create an unlevel playing field.EvaluationArguments on both sides have merit. But convergence and international standards are a reality.9国际会计学第六版弗雷德里克.D.S.乔伊课件Some Significant Events in the History of International Accounting Standard Setting1959 C Jacob Kraayenhof issues first significant proclamation that work on international standards should begin 1973 C IASC creat国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件国际会计学第六版弗雷德里克.D.S.乔伊课件。

国际会计学第六版chapter6-

What is the difference between a spot, forward, and swap transaction?
What exchange rates are used in the currency translation process and what are their financial statement effects?
International Accounting, 6/e Frederick D.S. Choi Gary K. Meek
Chapter 6:
Foreign Currency Translation
Choi/Meek, 6/e
1
Learning Objectives
Why do firms translate from one currency to another?
Gain or loss on an unsettled transaction: arises whenever consolidated financial statements are prepared before settlement and the current rate has changed since the transaction date.
Is similar to a translation gain or loss as it results from a restatement process.
Choi/Meek, 6/e
16
Choi/Meek, 6/e
17
Types of Translation Methods
Single rate method: applies a single exchange rate, the current , to all foreign currency assets and liabilities.

国际会计学第六版cha(1)

Dual financial reporting is becoming more common, particularly where duality is sanctioned.
Development (contin)
Level of economic development
Affects the types of transactions and which ones are most prevalent in the economy which, in turn,
Are financial accounting and taxation the same?
Or are they different?
Political and economic ties
Accounting ideas and technologies are transferred through conquest, commerce, and other forces.
Have a basic working knowledge of accounting classifications and how they compare with one another.
Explain the difference between the “fair presentation〞 and “legal compliance〞 orientations of accounting and identify nations in which each is prevalenapproach
Accounting derived from microeconomics.
▪ Maintaining physical capital ▪ Separation of capital and income ▪ Replacement costs

国际会计学第六版chapter_6-42页文档资料

Is similar to a translation gain or loss as it results from a restatement process.
Choi/Meek, 6/e
16
Choi/Meek, 6/e
17
Types of Translation Methods
Single rate method: applies a single exchange rate, the current rate, to all foreign currency assets and liabilities.
Choi/Meek, 6/e
2
How does a translation gain or loss differ from a transactions gain or loss?
Is there more than one way of translating financial statements from one currency to another? If so, what are they?
Preserves the original cost equivalent of a foreign currency item in the reporting currency.
Use of historical rates do not give rise to
translation gains or losses, which are
At the transaction date, each asset, liability, revenue, and expense denominated in a foreign currency is measured and recorded in the functional currency of the reporting entity at the spot exchange rate in effect on that date.

国际会计学第六版chapter6

Forward 远期市场（P128）
• The forward market handles agreements to exchange a fixed amount of one currency for another on an agreed date in the future.
Swap 掉期市场（P128）
FC Transactions
Spot 即期市场（P128）
• In the foreign exchange spot market, currencies
bought and sold must be delivered immediately,
normally within 2 business days
forward premium(discount)=(forward rate –spot rate)/spot rate × 12/n
($0.8462-$0.8318)/$0.8318×12/6=3.4% Indirect quote: forward premium(discount)=(spot rate-
forward rate)/forward rate × 12/n
Spot & Foward exchange rate
Bid quote 买方出价
• Is what the foreign exchange dealer would pay you for foreign currency.
• The forward market handles agreements to exchange a fixed amount of one currency for another on an agreed date in the future.