国际会计学第六版chapter7共48页
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 .
国际会计学第六版
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
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Terminology 6.2 BANKGROUND AND TERMINOLOGY(P127-129)
• Conversio n
• Translation
• Act of exchanging • one type of
money • or security for • another
It is simply a change in monetary expression.
Spot & Foward exchange rate
Bid quote 买方出价
• Is what the foreign exchange dealer would pay you for foreign currency.
ask quote 卖方报价
• Is the rate at which the dealer would sell you foreign currency.
currency translation differ from the
current rate method? What is the relationship between
currency translation and inflation?
Why do Firms Translate? 〔P127〕
Types of Transaction Rates
Spot transactions: the physical exchange of one currency for another in which delivery takes place immediately. 〔P128〕
Factors:
Learning Objectives
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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chapter2共26页
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Development (contin)
Taxation
Must companies record revenues and expenses in their accounts to claim them for tax purposes?
Are financial accounting and taxation the same? Or are they different?
Code law
Laws are all-embracing. Accounting tends to be prescriptive and
procedural. Accounting focuses on legal form. Accounting standards and procedures are
incorporated into national laws.
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Common law
Laws develop on a case-by-case basis. Accounting develops from experience and
judgment. Accounting tends to be flexible, adaptive,
Extensive disclosures.
Banks
Conservative earnings for creditor protection. Less extensive disclosures.
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Development (contin)
Legal system
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国际会计学第六版chapter1共24页文档
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Contris international heritage
Double-entry originates in the Italian city states.
Bookkeeping spreads to Germany and assists the spread of capitalism.
What is meant by the term, global capital markets, and what does development mean for capital market participants?
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What is International Accounting?
Domestic accounting: an information specialty providing information about a firm to users of that information as a basis for economic decisions.
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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.
Consolidation of foreign accounts Accounting for foreign currency fluctuations Accounting for changing prices International planning and control Performance evaluation of foreign operations Financial risk management International taxation and transfer pricing
国际会计(常勋常亮)
教学基本方式：
❖ 由于本课程的内容随着国际化进程而变化，本课程适合 采用专题式课堂讲授，并及时根据国际会计的发展前沿 和动态，更新相关信息。
❖ 布置一定量的讨论专题，借助各种研究文献、国际会 计组织网站信息等进行研究和课堂讨论，提高学生收 集信息和分析解决问题的能力。
❖ 英语是国际会计的基础，在学习过程中，尽量使用一些国 际会计术语的英语表达。
家的会计惯例和准则。——国际会计追求的最高目标，过于乐观 和理想化 。 2.国际会计：认为国际会计应该包括所有国家的各种原则、方法和 准则，即国际会计应该是世界上所有国家会计准则和惯例的集合 体。 3.国外子公司会计：比较子公司所在国的会计原则、制度、方法与本
国的差异，研究国外子公司的财务报表如何进行折算和调整如何同 母公司的财务报表进行合并。
A.证券和承诺贷款额度 债券 股票
联合银行贷款 其他债务额度
小计
B.非承诺借款额度
1993年
481.0 40.7 136.7 8.2 666.6
1994年
428.6 45.0 236.2 4.9 714.7
1995年
467.3 41.0 370.2 3.8 882.3
1996年
708.8 57.7 345.2 4. 5 1116.2
海尔集团是世界白色家电第一品牌、中国最具价值品牌。
第十四页，共106页。
第十五页，共106页。
海尔在美洲：
海尔美国电冰箱有限公司 于1999年4月在美国南卡来罗纳州开姆顿市破土动工。2000年3月正式投入 生产，拥有当地员工约180人。
2002年3月5日，海尔买下纽约中城格林尼治银行大厦作为北美的总部。
第二页，共106页。
❖ 目的和任务： ❖ 了解各国会计理论与实务的发展现状及国际间会计协
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。
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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.
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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
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Do adjustments for changing prices vary internationally?
What does IAS 21 have to say about inflation adjustments in hyperinflationary countries?
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Why are Financial Statements Potentially Misleading During Periods of Changing Prices? (contin)
During a period of specific price changes, assets recorded at their original acquisition costs seldom reflect the assets’ current (higher) value resulting in an overstatement in reported income. This, in turn, may lead to:
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Why are Financial Statement Potentially Misleading 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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To keep up with inflation, owners’ equity should grow by at least $210; i.e., beginning equity = $1,000 x 121/100 = ending owners’ equity of $1,210.
国际财务会计与会计管理知识模式
表2-3
阿伦的会计模式分类
法国―西班牙 ―意大利模式
不列颠模式
法国*
英国*
西班牙*
（包括爱尔兰）
意大利*
意大利*
比利时
澳大利亚
葡萄牙
以色列
希腊 土耳其 黎巴嫩
会计 印度 巴基斯坦
处理 中国香港
埃及 阿尔及利亚 摩洛哥
财务会计相背离
英国模式
资本市场 原则导向/基础 “真实与公允”
第3章 比较会计模式（上）
3.1 美国会计模式 3.2 英国会计模式 3.3 法国会计模式 3.4 德国会计模式
一、国家概况
1、地理位置
法国位于 欧洲西部 面积55万 平方公里
科西嘉岛
大西洋
•连接法国邻土的一些顶点，看看法国 轮廓像什么图形。
为了振兴经济，战后法国动用政府干预手段， 成立了以经济学家莫奈为首的国家计划总署， 制定、实施了著名的“现代化与装备计划”， 开创了此后延续教十年国家经济计划的先河， 为延续至今的法国经济模式打下了深深的烙印。
法国的经济制度环境
在成熟市场经济条件下，法国经济计划以指导性 为主，规定经济发展的近期目标，对国民经济各 部门轻重缓急的发展顺序作出安排，并辅以相应 的政策和措施。
独立学科模式 证券投资者
竞争性市场经济会计模式
独立学科模式 投资者和债权人 竞争性市场经济会计模式
美国会计模式与英国会计模式回顾
美国模式
英国模式
会计准则 制定机构
民间组织CAP-APB-FSAB
会计职业团体
强大的会计职业团体
受公司法的影响
受公司法的约束很小
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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?
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Other Chapter Exhibits
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Chapter Exhibits (contin)
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Chapter Exhibits (contin)
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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?
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Deducting expenses based on historical purchasing power from revenues that expressed in currency of current purchasing power yields a nonsensical index of performance.
Learning Objectives
What do we mean by the term, changing prices?
Why are financial statements misleading during periods of changing prices?
What are the various ways of adjusting financial statements for changing prices?
General price level change: refers to a movement in the prices of all goods and services in an economy on average.
Positive price movement is termed inflation. A negative price movement is called deflation.
Expenses, such as depreciation and amortization, may be based on currency of higher general purchasing power because their related assets were typically acquired in the past when GPLs were lower.
The reciprocal of the GPL is a measure of the general purchasing power of the monetary unit.
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Specific price change: refers to the movement in the price of a specific asset; e.g., a change in the price of inventory, plant, or equipment.
What is the restate-translate controversy all about?
Is it possible to double-count for the effects of foreign inflation?
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What Does “Changing Prices” Mean and How are Price Changes Measured?
Higher taxes
Higher dividends
Higher wages
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From a managerial perspective, accounting numbers unadjusted for changing prices distort: Financial projections Budget comparisons Performance data
Specific price changes are measured by a specific price index (SPL).
SPL is a cost ratio that compares the cost of a specific item with its cost in a prior or base period.
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Why are Financial Statements Potentially Misleading During Periods of Changing Prices? (contin)
Байду номын сангаас
During a period of specific price changes, assets recorded at their original acquisition costs seldom reflect the assets’ current (higher) value resulting in an overstatement in reported income. This, in turn, may lead to:
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Do adjustments for changing prices vary internationally?
What does IAS 21 have to say about inflation adjustments in hyperinflationary countries?
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General price level changes are measured by use of a general price level index (GPL).
GPL is a cost ratio that compares the cost of a basket of goods in the current period with the cost of that same basket in a prior or base period.
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Why are Financial Statement Potentially Misleading During Periods of Changing Prices?
During periods of inflation, revenues are based on the general purchasing power of the current period.