國際會計chapter1-Introduction英文

Choi/Meek,6/e1InternationalAccountingFrederickD.S.ChoiGaryK.MeekChapter1:IntroductionChoi/Meek,6/e2LearningObjectivesHowisinternationalaccountingdistinctfromdomesticaccounting?Doesinternationalaccountinghaveahistory?HowtoIdentifyandexplainthethreebroadareasofaccounting?Whatfactorsarecontributingtotheimportanceofinternationalaccountingasafieldofstudy?Whatexternalandinternalreportingissuesarisewhenbusinessandinvestingtranscendnationalborders?Keywordsand

ExpressionTransnationalcorporations/multinationalcompany(MNC)ForeignSubsidiariesWorldAccountingInternationalComparativeAccountingDomesticaccountingVS.InternationalaccountingInternationalFinancial(management)AccountingMeasurementDisclosureAuditingChoi/Meek,6/e4

Introduction

Howisinternationalaccountingdistinctfromotherareasofaccounting?Choi/Meek,6/e5TheDefinitionofInternationalAccountingViewpoint1WorldAccounting——A

optimistic(樂觀）viewpointInternationalaccountingisaglobalsystemthatshouldbeadoptedbyallcountries.Itoughttoestablishasetofgenerallyacceptedaccountingstandard.

Transnationalcorporationsaccordingthisstandardtopreparetheirfinancialstatement.Themajorcontentofthecourseisinternationalaccountingstandards.Itdiscussestheprinciples,proceduresandapproachesappliedintheworld.Choi/Meek,6/e6Viewpoint2InternationalComparativeAccounting——A

pessimisticviewpointInternationalaccountingisasubjectthatresearcheachcountry’saccounting.Itshouldincludestandard,methodandthevariousaccountingprinciplesofallcountries.Itcannothopethatestablishasetofinternational,idealaccountingprinciple.Internationalaccountingshouldbetheconvergenceofallcountries.Accountingstandardsandconventionsonworld.Choi/Meek,6/e7Viewpoint3

ForeignSubsidiariesAccounting——ApracticalviewpointInternationalaccountingisacoursethatresearchtheaccountingpracticeofparentcompanyandsubsidiary.Foreignsubsidiaryshouldusethecurrencymeasurementunitofthecountrywheretheyaretomakeaccount.Itsfinancialstatementwillaccordwiththatcountry’sregulation.Foreignsubsidiaryshouldcomparethedifferenceoftheaccountingprinciple,systemandmethodbetweenthehomelandandothercountries.Themajorcontentsofinternationalaccountingincludeshowtotranslatethefinancialstatementprepareduseforeigncurrencyunitintohomelandcurrencyunit;Howtopreparetheconsolidated

accountingstatementbetweenparentcompanywithsubsidiary;Andsoon.Choi/Meek,6/e8WhatisAccounting?

Accountingisaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusinesseconomicactivities

withmonetaryunitasamainmeasure(計量單位）.Choi/Meek,6/e9Accordingtothistextbook:WhatisInternationalAccounting?DomesticAccountingItrefersaninformationsystemwhichprovidinginformationaboutafirmanditstransactionstofacilitateresourceallocationdecisionsbyusers.Theentitybeingreportedonisalocalenterpriseandtheentitywithreportingobligationstodomesticreaders.InternationalAccountingPⅡ，P1

Sameasaboveexceptthattheentity(主體）

beingreportedonisamultinationalcompanywithoperationsandtransactionsthatcrossnationalboundariesoranentitywithreportingobligationstonon-domesticreaders.Choi/Meek,6/e10TheMainContents

ofInternationalAccountingComparativeInternationalAccountingClassificationoftheglobalaccountingmodel.Comparethebasiccharacteristicsofaccountingenvironment,accountingmodel,accountingstandardssystem,accountingstandardandaccountingpracticeindifferentcountriesorregions.Tofindtheaccountingdifference,andstudyitsreason.Choi/Meek,6/e11TheMainContents

ofInternationalAccountingInternationalFinancialAccountingItmainlyresearchesontheproblemsofinternationalaccounting(multinationalenterpriseaccounting,peculiaraccountingproblemrelatedtoenterprise'sinternationaleconomicactivity)

Forexample:

Internationalfinancialreport,foreigncurrencyaccounting,foreigncurrencyreporttranslation,accountingforchangingprices(inflationaccounting),internationaltransferpricing,etc.Choi/Meek,6/e12TheMainContents

ofInternationalAccountingInternationalManagementAccounting

Itmainlyresearchesontheproblemssuchasfinancialstatementanalysis,managerialplanning,financialriskmanagement.andsoon.Choi/Meek,6/e13TheThreeAreasofAccountingPⅢ，P1MeasurementDisclosureAuditingChoi/Meek,6/e14Measurement(計量）

Measurement

istheprocessofidentifying,categorizing,andquantifyingeconomicactivitiesortransactions.*economicactivitiesortransactions經(jīng)濟業(yè)務(wù)Choi/Meek,6/e15Disclosure

Disclosureistheprocessbywhichaccountingmeasurementsarecommunicatedtotheirintendedusers.

Thisareafocusesonissuessuchaswhatistobereported,when,bywhatmeans,andtowhom.（4W）Choi/Meek,6/e16Auditing

Auditingistheprocessbywhichspecializedaccountingprofessionals(auditor)attesttothereliabilityofthemeasurementsandcommunicated

process.Whereasinternalauditorsarecompanyemployeeswhoanswertomanagement,externalauditorsarenonemployeeswhoareresponsibleforattestingthatthecompany’sfinancialstatementsarepreparedinaccordancewithgeneralacceptedstandards.Choi/Meek,6/e17HISTORICALPERSPECTIVEP2The

origin

ofAccountingInternationalizationP2Thehistoryofaccountingisaninternationalhistory(Accounting’sinternationalheritage世襲)Double-entry(復(fù)式記賬）originatesintheItaliancitystates.BookkeepingspreadstoGermanyandassiststhespreadofcapitalism.Dutchenhanceperiodicincomemeasurement.Frenchuseaccountingforgovernmentalplanningandcontrol.DoubleentryassiststheBritishinmanagingandcontrollingcommercialinterestsinthecolonies.AccountingplaysamajorroleintheU.S.

industrialrevolution.

Choi/Meek,6/e19P2-3Paradox(悖論)ofinternationalaccountingInmanycountries,accountingremainsanationalistic(國家主義）affair.Accountingservespeopleandinstitutionswhosedecisionsareinternationalinscope.Accountingdiversity（多樣化）createsademandforharmonization（協(xié)調(diào)）.Choi/Meek,6/e20CONTEMPORARYPERSPECTIVEChoi/Meek,6/e22Whatfactorsarecontributingtotheimportanceofinternationalaccountingasafieldofstudy?Choi/Meek,6/e23ContributingFactorsGrowthandspreadofmultinationaloperations跨國經(jīng)營的增長與擴展P6Choi/Meek,6/e25Choi/Meek,6/e26FinancialinnovationIdentifyingpotentialmarketrisksMeasuringriskexposuresAccountingforspecifichedgeproducts會計避險產(chǎn)品EvaluatingtheeffectivenessofhedgingprogramsContributingFactors(contin)Choi/Meek,6/e27ContributingFactors(contin)GlobalcompetitionCompetitivebenchmarking（基準(zhǔn)）Necessitatesinternationalcomparisons.P11ContributingFactors(contin)Cross-bordermergersandacquisitionsP12Corporatevaluationisafunctionofaccountingmeasurementsthatvaryfromcountrytocountry.InternationalizationofcapitalmarketsP13Raisingexternalfinance（融資）abroadmeansthatfinancialreportsmustincreasinglytravelinternationally.Choi/Meek,6/e29Choi/Meek,6/e30Choi/Meek,6/e31ContributingFactors(contin)ReportingissuesassociatedwithinternationalizationofcapitalmarketsHowtoanalyzeandinterpretforeignaccounts?Howtoreporttoforeignreaders?Howtoharmonizereportingstandardsinternationally?Choi/Meek,6/e32Whatexternalandinternalreportingissuesarisewhenbusinessandinvestingtranscendnationalborders?Choi/Meek,6/e33ReportingissueswhenbusinesstranscendsnationalboundariesConsolidationofforeignaccountsAccountingforforeigncurrencyfluctuations（波動）AccountingforchangingpricesInternationalplanningandcontrolPerformanceevaluationofforeignoperationsFinancialriskmanagementInternationaltaxationandtransferpricingChoi/Meek,6/e34ExercisesCompletethefollowingsentences.1.Weviewaccountingasconsistingofthreebroadareas.Theyare______,________and_______.2.Double-entryoriginatesinthe____citystates.3.____

istheprocessofidentifying,categorizing,andquantifyingeconomicactivitiesortransactions4.Measurement

istheprocessof________,categorizing,andquantifyingeconomicactivitiesortransactions.

5._______focusesonissuessuchaswhatistobereported,when,bywhatmeans,andtowhom.6.Theauditorsweredividedintotwocategories:______auditorsand_______auditors._____arecompanyemployeeswhoanswertomanagementbut_____arenonemployeeswhoareresponsibleforattestingthatthecompany’sfinancialstatementsarepreparedinaccordancewithgeneralacceptedstandards.7.Foreigncurrencyreporttranslationisoneofthecontentsofinternational______accounting.

8.()isaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusinesseconomicactivities

withmonetaryunitasamainmeasure.9.Accountingisaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusiness()

withmonetaryunitasamainmeasure.10.Accountingisaninformationsystemofinterpreting,recording,measuring,classifying,summarizing,reportinganddescribingbusinesseconomicactivities

with()unitasamainmeasure.Choi/Meek,6/e37Judgmenttheitembelowisfalseortrue.1.Domesticaccountingis

aninformationspecialtyprovidinginformationaboutafirmtousersofthatinformationasabasisforeconomicdecisions.2.Internationalaccountingisabranchofaccounting.Itresolvesthespecificaccountingpracticeofamultinationalcompanyorprovidinginformationofanentitytonon-domesticreaders.3.Accountingcanbedividedintothreebroadareas:measurement,disclosureandauditing.Judgmenttheitembelowisfalseortrue.4.Inthehistoryofaccounting,double-entryoriginatesintheBritishcitystates.5.Inthehistoryofaccounting,Dutchenhanceperiodicincomemeasurement.6.Theproblemssuchasmanagerialplanning,financialriskmanagementisthecontentwhichbelongstointernationalfinancialaccounting.7.Performanceevaluationofforeignoperationsisoneofthereportingissueswhenbusinesstranscendsnationalboundaries.8.Consolidationofforeignaccountsisoneofthereportingissueswhenbusinesstranscendsnationalboundaries.9.Growthandspreadofmultinationaloperationsisoneofthefact