国际会计学第六版chapter_6 Foreign Currency Translation

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国际会计学课件cha6 Foreign Currency Accounting

• To record foreign currency tranctions.
• The expanded scale of international investment increases the need to transfer accounting information from one country to users in others.
• *6.Foreign currency . • A currency other than the currency of the country being referred to; A currency other than the reporting currency of the enterprise being referred to. • 外币:特定国家的非本国货币;特定企业的非报告货币. • *7.Foreign currency financial statement. Financial statement that employ foreign currency as the unit of measure. • 外币财务报表:以外币作为计量单位的财务报表.
• ２.Indirect exchange rate (quote) • (Receivable Quote 应收法） • It is the reciprocal(倒数）of the direct quote, the price of a unit of domestic currency in terms of the foreign currency. It would take approximately 0.1639 U.S dollar to acquire 1 Chinese yuan .

《国际会计学第六》PPT课件_OK

• To accomplish this, revenues are expressed in end of period purchasing power by multiplying $1,50 0 by 121/110 (110 is used as an expedient to reflect the fact that revenues are received uniformly ov er the year).
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• Revenues would be $1,500 received uniforml y over the period, expenses would be $1,000, and net income would be $500.
• Net income of $500 represents the amount t hat could be withdrawn from the firm and le ave the owners with their original investment intact.
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Why are Financial Statement Potentially Misle ading
During Periods of Changing Prices?
• During periods of inflation, revenues are based on the general purchasing power of the current period.
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• Deducting expenses based on historical purchasing power from revenues that expressed i n currency of current purchasing power yields a nonsensical index of performance.

国际会计学第六版

Banks
Conservative earnings for creditor protection. Less extensive disclosures.
Development (contin)
Legal system
Code law
Laws are all-embracing. Accounting tends to be prescriptive and
Example: the Netherlands
Independent discipline approach
Accounting derived from business practices, judgment, and trial-and-error.
Examples: U.K. and U.S.
sector professional organizations.
Development (contin)
Taxation
Must companies record revenues and expenses in their accounts to claim them for tax purposes?
Development (contin)
Level of economic development
Affects the types of transactions and which ones are most prevalent in the economy which, in turn,
Accounting values (Gray)
Professionalism vs. statutory control Uniformity vs. flexibility Conservatism vs. optimism Secrecy vs. transparency

国际财务管理第六版中文版第六章

Home currency，foreign currency
6-19
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
利率平价与汇率决定
根据利率平价关系:
S 1if F 1 ih
如果远期汇率是对未来即期汇率做出的预期。即
远期升水和利率差异之间的关系
在利率平价的条件下，可以根据利率差异计算出远期汇率升水或贴水。
P F S = ih if S 1if
ih i f
其中，
P——远期升水（或贴水）；
F——远期汇率；
S——即期汇率；
ih——本国利率； if——外国利率。
6-16
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
利率和汇率
④在远期市场上卖出英镑
6-11
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
一、利率平价
利率平价（IRP）的定义
一旦市场力量使利率和汇率进行了调整而使得抵补套利不再可行，这时候的这种均衡状态叫利率平价（interest rate parity）
远期升水和利率差异之间的关系
假定墨西哥比索6个月的利率为6%，而美元6 个月的利率为5%。从美国投资者的角度看，美元是本币。根据利率平价，比索对美元的远期汇率升水应为：
P 5% 6% 0.94% 1 6% -1%
6-17
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.

国际会计学第六版chapter1-

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Contributing Factors (contin)
Growth and spread of multinational operations
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Contributing Factors (contin)
Reporting issues when business transcends national boundaries
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What Does International Accounting Diversity Entail?
Measurement principles Financial disclosure (corporate transparency) Auditing practices
Dutch enhance income measurement.
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French use accounting for governmental planning and control.
Double entry assists the British in managing and controlling commercial interests in the colonies.
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•Financial innovation
Identifying potential market risks Quantifying trade-offs associated with
alternative risk reduction strategies Measuring risk exposures Accounting for specific hedge products Evaluating the effectiveness of hedging

国际会计第六版教学设计

国际会计第六版教学设计一. 教学目标本课程的目标是：1.让学生了解国际财务报告的背景与作用；2.帮助学生掌握财务会计部分的相关知识；3.告诉学生如何比较与分析财务报告；4.让学生掌握财务报告的编制与解读方法。

二. 教学内容本课程的教学内容如下：1. 国际财务报告背景与作用•国际财务报告的定义和要求•国际财务报告标准体系2. 财务会计部分•资产负债表•利润表•现金流量表3. 比较与分析财务报告•财务比率分析•财务趋势分析•财务结构分析4. 财务报告的编制与解读方法•财务报告编制准则•财务报告解读技巧三. 教学方法1.讲课：通过PPT等教案，向学生阐述相关概念和知识点。

2.分组讨论：将学生分成小组，让每组讨论财务报告相关的案例和问题，提高学生的思考和沟通能力。

3.实践操作：让学生通过财务报告解读实践操作，加深其对财务报告理解。

四. 文献资料•Deegan, C. M. (2014). Financial Accounting Theory.4th ed. United States: Mcgraw-hill.•Kieso, D. E., Weygandt, J. J., & Warfield, T. D.(2016). Intermediate Accounting.16th ed. United States: John Wiley & Sons.•IFRS2018).IFRS Standards - Consolidated without early application. International Accounting Standards Board (IASB).五. 评价方法1.学生平时表现（40%）：包括参与度、思考问题能力、作业完成情况等各方面表现。

2.期末论文（60%）：学生需撰写一篇不少于3000字的论文，探讨财务报告某一方面的问题，如财务比率分析等。

六. 教学日程时间教学内容第1周国际财务报告背景与作用第2-4周财务会计部分第5-6周比较与分析财务报告第7周财务报告的编制与解读方法第8-9周学生小组讨论及实践操作第10周学生期末论文答辩七. 总结思考本课程是国际会计领域的入门课程，涉及到了财务报告的方方面面，因此，在教学设计中增加了分组讨论及实践操作环节，使得学生不仅能够掌握相关理论知识，还能够在实践中不断提高自己的分析与解读财务报告的能力。

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.
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Types of Translation Methods
Single rate method: applies a single exchange rate, the current rate, to all foreign currency assets and liabilities.
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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?
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_cha

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AMF – Financial Markets Authority Supervises securities markets
OEC – Institute of Public Accountants Represents the accounting profession Members prepare financial statements, and provide tax, information systems, and management advisory services
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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
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CNCC – National Institute of Statutory Auditors
Members audit and give an opinion on financial statements
Must report criminal acts to the High Council of External Auditors
Develops recommendations for consolidated financial statements

国际会计(双语)国际会计(双语)大纲

《国际会计》（双语）课程教学大纲课程编号：02133制定单位：会计学院制定人（执笔人）：宋京津，王宏*******制定（或修订）时间：2011年8月26日江西财经大学教务处《国际会计》（双语）课程教学大纲一、课程总述本课程大纲是以2011年国际会计（双语）本科专业人才培养方案为依据编制的。

二、教学时数分配三、单元教学目的、教学重难点和内容设置Study guide for international accountingCHAPTER 1Introduction to international accountingLEARNING OBJECTIVES:1.To identify and understand the importance of the eight factors that has asignificant influence on accounting development.2.To understand the definition of IA of this textbook.3.To be familiar with the detailed contents of IACHAPTER OUTLINEDevelopment of IAEight factors▪Sources of Finance–In countries with strong equity markets, Disclosures are extensive to meet the requirements of widespread public ownership.–in credit-based systems where bans are the dominant source of finance, accounting focuses on creditor protection through conservative accounting measurements. Development of IA▪Legal System. The legal system determines how individuals and institutions interact.▪Taxation . tax legislation effectively determines accounting standards because companies must record revenues and expenses in their accounts to claim them for tax purposes.▪Political and Economic Ties. Accounting ideas and technologies are transferred through conquest, commerce, and similar forces.Development of IA▪Inflation. Inflation distorts historical cost accounting and affects the tendency of a country to incorporate price changes into the accounts.▪Level of Economic Development. This factor affects the types of business transactions conducted in an economy and determines which ones are most prevalent.Development of IA▪Education Level. Highly sophisticated accounting standards and practices are useless if they are misunderstood and misused.▪Culture. Cultural variables underlie nations’ institutional arrangements (such as legal systems)Definition of IAInternational accounting can be viewed in terms of the accounting issues uniquely confronted by companies involved in international business. It also can be viewed more broadly as the study of how accounting is practiced in each and every country around the world, learning about and comparing the differences in financial reporting and other accounting practices that exist across countries.Definition of IAThis book is designed to be used in a course that attempts to provide an overview of the broadly defined area of international accounting, and that focuses on the International Financial Reporting Standards (IFRSs) issued by International Accounting Standards Board (IASB) and some international hot topics.Detailed Contents on IA▪International accounting is a well-established specialty area within accounting and has two major dimensions:▪Comparative: Examining how and why accounting principles differ from country to country▪Pragmatic: accounting for the operational problems and issues encountered by individuals and firms in international business.Detailed Contents on IA▪L. Radebaugh and S. Gray (1993, p. 9) also write that the study of international accounting involves two major areas:▪descriptive/comparative accounting and the accounting dimensions of international transactions/multinational enterprises.▪principally covers the problems encountered by multinational corporations: Financial reporting problems, translation of foreign currency financial statements, information systems, budgets and performance evaluation, audits, and taxes.Objectives of Research on IA▪Global Harmonization. As business entities increasingly operate in multiple counties, they encounter the cost of dealing with diversity in financial reporting requirements.▪Financial Reporting in Emerging Economics. As ever increasing amounts of capital are invested in countries with emerging economics, the quality of financial reporting in these countries is coming under the microscope. Objectives of Research on IA▪Social and Environmental Reporting. One of the consequences of the globalization of business enterprises is that companies now have stakeholders not just in their home country but in all the countries where they operate.CHAPTER 2International accounting harmonizationLEARNING OBJECTIVES:1. Recognize the arguments for and against harmonization.2. Identify the pressures for and the obstacles to harmonization.3. Become familiar with the main organizations involved in harmonization. CHAPTER OUTLINEHistory and Recent Developments▪Prior to 1960, there was little effort devoted to the international harmonization of accounting standards. Efforts have been made by a number of organizations to reduce the differences between accounting systems since then.Main International Bodies InvolvedPrinciples-Based vs. Rules-Based Approaches▪Principles-based standards represent the best approach for guiding financial reporting and standard setting, of any given transaction.▪Rules-based standards provide companies the opportunity to structure transactions to meet the requirements for particular accounting treatments.Obstacles to Harmonization▪Differences in the regulatory framework .▪The "true and fair view" .▪The various interpretation of fundamental principle .▪ A binding tax accounting linkLikely future trends▪The convergence of IAS and national accounting standards is, and always has been one of the IASB's key objectives. Three basic future roles exist for the IASB:✓Producing standards for those countries that have no standards of their own✓Assisting in the reduction of diverse national practices✓Acting as an umbrella organizing for national standard settersImplication▪The demand of international capital markets helps to drive harmonization. IASB has become more cognizant of the need to work with national standard setters and bring them into membership of IASB, which may be possible to eliminate the differences between national and international standards. The current agreement could then be viewed as the first step in a much longer process.IASB ( International Accounting Standards Board)▪IASB's responsibilities:✓Develop and issue International Financial Reporting Standards and Exposure Drafts, and✓Approve Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC).CHAPTER 3ACCOUNTING FOR FOREIGN CURRENCYLEARNING OBJECTIVES:▪ 1. Provide an overview of foreign exchange markets and define related terminology.▪ 2. Describe the different types of foreign exchange exposure and exchange difference.▪ 3. Understand some of the more common foreign currency transactions. CHAPTER OUTLINEAccounting for Foreign Currency Transactions▪ a transaction that requires payment or receipt (settlement) in a foreign currency is called a foreign currency transaction.▪Exchange difference is the difference resulting from reporting the same number of units of a foreign currency in the reporting currency at different exchange rates. Accounting for Foreign Currency Transactions▪Importing or Exporting of Goods or Services✓At the date the transaction is first recognized.✓At each balance sheet date that occurs between the transaction date and the settlement date.✓At the settlement date.Accounting for Foreign Currency Transactions▪Recognition of Exchange Differences✓the single- transaction approach✓the two- transaction approachHedging Foreign Exchange Rate Risk▪A derivative instrument may be defined as a financial instrument that by its terms at inception or upon occurrence of a specified event, provides the holder (or writer) with the right (or obligation) to participate in some or all of the price changes of another underlying value of measure, but does not require the holder to own or deliver the underlying value of measure.Hedging Foreign Exchange Rate Risk▪two broad categories✓Forward-based derivatives, such as forwards, futures, and swaps, in which either party can potentially have a favorable or unfavorable outcome, but not both simultaneously (e.g., both will not simultaneously have favorable outcomes).✓Option-based derivatives, such as interest rate caps, option contracts, and interest rate floors, in which only one party can potentially have a favorable outcome and itagrees to a premium at inception for this potentiality; the other party is paid the premium, and can potentially have only an unfavorable outcome.Hedging Foreign Exchange Rate Risk▪Forward Exchange Contracts▪Options▪Fair Value Hedge – Using a Forward Contract▪Hedging an Identifiable Foreign Currency Commitment Using a Forward Contract (A Fair Value Hedge)▪Hedging a Forecasted Transaction Using an Option (Cash Flow Hedge) Translation Of Foreign Financial Statements▪Derivation of the Issue of Foreign Currency Translation✓Translation exposure, sometimes also called accounting exposure, refers to gains or losses caused by the translation of foreign currency assets and liabilities into the currency of the parent company for accounting purposes.✓The choice of any method for the translation of the financial statements of a foreign business operation involves two basic questions:(i) how shall foreign currency financial statements be translated——in particular what exchange rates are to be used for different assets/liabilities/equity accounts?(ii) how and when shall foreign exchange gains or losses be recognized?CHAPTER 4Business combinationsLEARNING OBJECTIVES:•(1)Understand the economic motivations underlying business combinations.•(2)Learn about the alternative forms of business combinations, from both the legal and accounting perspectives.•(3)Introduce concepts of accounting for business combinations；•(4)emphasizing the purchase method.•(5)See how firms make cost allocatCHAPTER OUTLINE➢ 4.1 The Accounting Concept of Business Combinations➢ 4.2 The Legal Form of Business Combinations➢ 4.3 Reasons for Business Combinations➢ 4.4 Accounting for Business Combinations Under the Purchase Method ➢ 4.5 The measurement of Goodwill and ControversyCHAPTER 5Consolidated financial statementsLEARNING OBJECTIVES:•(1)Recognize the benefits and limitations of consolidated financial statements.•(2)Understand the requirements for inclusion of a subsidiary in consolidated financial statements.•(3)Apply the consolidation concepts to parent company recording of the investment in a subsidiary at the date of acquisition.•(4)Allocate the excess of the fair value over the book value of the subsidiary at the date of acquisition.CHAPTER OUTLINE➢ 5.1 Demand from IAS 27➢ 5.2 The adjustment of Intercompany Transactions➢ 5.3 Parent Company Recording and Consolidated Statement of financial position at Acquisition Date➢ 5.4 Subsequent Statement of financial positionCHAPTER 6Accounting for changing priceLEARNING OBJECTIVES:▪ 1. Explain basic concepts relating to inflation accounting. Understand the distinction between changes in the general level of prices in an economy, which affect the purchasing power of the measuring unit, and changes in the prices of specific assets and liabilities, which affect balance sheet valuations and income measurement.▪ 2. Explain the underlying thoughts and methods of dealing with inflation.▪ 3. Restate conventional financial statements based on historical costs to a common measuring unit.CHAPTER OUTLINEDefects of historical cost accounting▪The results of comparison of performance and position statements over time will be unreliable, because amounts are not valued in terms of common units.▪Borrowings are shown in monetary terms, but in a time of rising prices a gain is actually made (or a loss in times of falling prices) at the expense of the lender as, in real terms, the value of the loan has decreased or increased.▪Conversely, gains arising from holding assets are not recognized.▪Depreciation writes off the historical cost over time, but, where asset values are low (because based on outdated historical costs), depreciation will becorrespondingly lower, so that a realistic charge for asset consumption is not matched against revenue in the performance statements.Overview of Accounting for changing prices▪Changing prices affect financial reports in two principal ways:✓Measuring unit problem✓Valuation problemAccounting Measurement Alternatives▪Acquisition Cost/Nominal Dollar Accounting▪Acquisition Cost/Constant Dollar Accounting▪Current Cost/Nominal Dollar Accounting▪Current Cost/Constant Dollar AccountingRestatement of Monetary and Non-monetary Items▪ A monetary item is a claim receivable or payment in a specified number of dollars, regardless of changes in the purchasing power of the dollar.▪ A non-monetary item is any asset, liability, or shareholders’ e quity account that has no claim to or for a specified number of dollars.Evaluation of Acquisition Cost/Constant Dollar Accounting▪When compared with current-cost accounting (discussed next), constant-dollar accounting carries a higher level of objectivity. Independent accountants can examine canceled checks, invoices, and other documents to verify acquisition-cost valuations and transaction dates. The restatements to constant dollars use general price indexes published by governmental bodies. Evaluation of Current Cost/Nominal Dollar Accounting▪Current-cost accounting measures performance and financial position in terms of the current market prices. Managers likely make decisions in terms of current costs, not out-of-date acquisition costs. Thus, for asses sing management’s actions, current-cost financial statements provide information on the same basis that management used to make decisions.▪Critics note two shortcomings of current cost/nominal dollar accounting:✓auditors cannot as easily verify current-replacement-cost valuations as they can acquisition-cost valuations.✓the use of nominal dollars means that the measuring unit underlying current-replacement-cost valuations varies across time.CHAPTER 7Accounting for financial instrumentLEARNING OBJECTIVES:1. Examine budgeting and performance evaluation issues for international firms.2. Discuss global risk management tools and strategies including multinational capitalbudgeting and foreign exchange risk management.3. Identify the main constituents of cross-border transfer pricing policies, define thetransfer pricing methods, and consider the issues in devising a transfer pricing strategy.4. Recognize the critical role of information technology systems in the effectiverecording, processing and dissemination of financial and managerial accounting information.CHAPTER OUTLINE1 Challenge for the accounting profession2 Accounting and Reporting for Financial Instruments: International Developments▪In the process of completing the most recent series of amendments, the IASB conducted an extensive due process, which began in 2001 and included the following:▪(1) Conducting numerous board deliberations prior to the June 2002 exposure drafts;2.1 Overview of IAS 32▪The following are the major U.S. standards that address financial instruments accounting and reporting:▪(1) SFAS 107, Disclosures About Fair Value of Financial Instruments.▪(2) SFAS 133, Accounting for Derivative Financial Instruments and Hedging Activities.▪(3) SFAS 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.▪(4) SFAS 150, Accounting for Certain Financial Instruments with Characteristics of Both Debt and Equity.2.2 Overview of IAS 392.3 Recognition and Derecognition of Financial Assets and Liabilities2.4 Hedge Accounting Guidance2.5 Impairment of Financial Instruments2.6 Convergence with U.S. GAAP3 Financial instruments3.1 Illustration of Traditional Financial Instrument3.2 Illustration of Derivative Financial Instrument4 DERIV ATIVES USED FOR HEDGING▪SFAS No. 133 established accounting and reporting standards for derivative financial instruments used in hedging activities. Special accounting is allowed for two types of hedges—fair value and cash flow hedges.4.1 Fair Value Hedge4.2 Illustration of Interest Rate Swap4.3 Cash Flow Hedge5 OTHER REPORTING ISSUES▪Additional issues of importance are as follows:▪(1) The accounting for embedded derivatives.▪(2) Qualifying hedge criteria.▪(3) Disclosures about financial instruments and derivatives.Chapter 8 financial reporting in different countriesLearning objectives:•Identify the major policy-setting bodies and their role in the standard-setting process.•Appreciate US GAAP .•Understand convergence of US GAAP to IFRSs.Chapter outline:Parties Involved in Standard SettingSecurities and Exchange CommissionAmerican Institute of CPAsFinancial Accounting Standards BoardFinancial Accounting Standards BoardDue ProcessTypes of PronouncementsGovernmental Accounting Standards BoardGenerally Accepted Accounting PrinciplesIssues in Financial ReportingIssues in Financial ReportingConceptual FrameworkDevelopment of Conceptual FrameworkChapter 9 corporate governanceLearning objectives:1.describe the definition of corporate governance2.describe some corporate governance theory3.describe the principle of corporate governancechapter outline:2 What is corporate governance?3 Corporate governance theoryPrincipal-agent theoryClassical Stewardship Theory3.3 Modern Stewardship Theory3.4 Stakeholder TheoryPrinciples of corporate governanceCorporate governance modelsMechanisms and controls of corporate governance Features of poor corporate governance。

6国际会计(第六章国际会计准则委员会)

2019年3月25日星期一
《国际会计--国际会计准则委员会》
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（4）国际会计准则委会（1973年6月成立）加、西德等国有关人员的协商，提出了设立国际会计准则委员会的方案，后来经过1973年3月的筹备委员会的准备，于1973年6月成立了国际会计准则委会（International Accounting Standards Committee，IASC）。
《国际会计--国际会计准则委员会》
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一、第一阶段（20世纪70年代）
（一）背景２0世纪70年代，资本市场的国际化还不明显。人们对国际会计准则能否在全球范围内被广泛接受和遵循，普遍持怀疑态度。
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（二）战略当时的战略是：与国际性银行、国际会计师联合会、国际贸易组织等建立联系和合作关系，在协调各国会计准则上采取十分宽松的政策。（这也是它的策略）对于国际会计准则的体系和国际会计准则委员会的发展方向等战略性问题，尚不明确。
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在这种形势下： (a)各国会计准则的差异（对报表提供者和使用者）所造成的影响备受关注； (b)各国会计准则制定机构也开始关注国际会计准则的发展和能起的协调作用，从而产生了在不同程度上与国际会计准则委员会协作的意向； (c)各国的证券监管机构，也开始重视其本身的国际协调活动（如IOSCO)以及国际会计准则的作用。
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三、第三阶段（20世纪90年代中期以后）（一）背景资本市场国际化浪潮空前高涨，同时亚洲金融危机的影响也全球化了。人们认识到，只有增强资本市场的透明度才能有利于风险的控制。而资本市场的透明度在很大程度上取决于会计信息质量。因此，资本市场的透明度对提高会计信息的质量提出了新的要求。

国际会计学第六版chapter_6

International Accounting, 6/e Frederick D.S. Choi Gary K. Meek
Chapter 6: Foreign Currency Translation
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国际会计三大难题
符号
• 问号 question 合并财务报表 • 手势 hand • Consolidate 金钱 money • d Financial 喻意金人 • 3D小人 • Statements 艺术数字

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Facilitates the recording of foreign currency transactions; i.e., foreign currency sales, purchases, borrowing or lending in the consolidated entity’s reporting currency. Facilitates reporting domestic accounts to foreign audiences-of-interest.
Why do Firms Translate?（P127）

Facilitates the preparation of consolidated financial statements that allow readers to see the performance of a multinational company’s total operations both domestic and foreign. Facilitates the measurement of a firm’s exposure to foreign exchange risk.

国际会计学第六版chapter_6 Foreign Currency Translation

Multiple rate methods: Use some combination or current and historical rates to translate foreign currency balances.
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Current-Noncurrent Method
Depreciation and amortization charges at
historical rates in effect when related
assets are acquired.
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.
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.
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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?

国际会计学第六版chapter_6Foreign Currency Translation教学讲义

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?
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.
Facilitates repoeign 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.
Swap transaction: involves the simultaneous spot purchase and forward sale, or spot sale and forward purchase of a currency.
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国际财务管理第六版中文版第六章

投资者
同时，售出一份360天金额为£600 000的
远期合约
提供外汇
的银行
一年后，将£600 000兑换成$1068 000
第一天，将£存入银行，利率为8%
英国存款
6-7
总结
初始投资$100万， 1年后应收106.8万，收益率为6.8%。
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
北方银行 NZ$ 买入价卖出价
0.635$ 0.640$
南方银行 NZ$ 买入价卖出价
0.645$ 0.650$
如果你有10000美元，你将会如何套利，套利收益？
第一步，用美元在北方银行以0.640美元的价格购买新西兰元。第二步，把从北方银行购买的新西兰元卖给南方银行以换取美元。
6-2
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
9.00%
6.50%
9.50%
现在假设你有1000 000美元可以用于一年时间内的投资，你能从抵补套利中获利吗？
6-9
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
假定以下信息：你有800 000美元投资；目前英镑的即期汇率为1.60美元。 90天英镑的远期汇率为1.60美元。美国90天的利率为2%。英国90天的利率为4%。根据这些信息，你应该采取怎样的行动进行抵
三角套利
假定存在下列即期汇率：

国际会计学第六版chapter_1-24页精品文档

Choi/Meek, 6/e
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Contributing Factors (contin)
Reporting issues associated with internationalization of capital markets
How to analyze and interpret foreign accounts? How to report to foreign readers? How to harmonize reporting standards
E.g., the e in p/e valuation multiples.
Internationalization of capital markets
Raising external finance abroad means that financial reports must increasingly travel internationally.
internationally?
Choi/Meek, 6/e
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Other Chapter Exhibits
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Chapter Exhibits (contin)
Choi/Meek, 6/e
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Chapter Exhibits (contin)
Choi/Meek, 6/e
What does international accounting diversity entail?
Does international accounting have a history?
What factors are contributing to the importance of international accounting as a field of study?

西方财务会计_Chapter6

GENERAL JOURNAL
Chapter 6
Accounts Receivable And Notes Receivable
Introduction
In addition to cash, cash equivalents, and short-term investments, the current (liquid ) assets of an entity include receivables that result from credit sales to customers. These receivables include (1) accounts receivables and (2) notes receivable.
Uncollectible Accounts Receivable
When credit is extended, some amount of uncollectible receivables is generally inevitable.
If uncollectible receivables are probable and can be estimated, an estimate should be made of the amount uncollectible and recorded in the period in which the revenue was produced (allowance method).
We can also write off uncollectible accounts directly to an expense account if we don’t want to maintain an allowance account for accounts receivable(direct writing off method)