1.Re-examine Exhibit 1-1 which describes the outsourcing process for HP’s production of Proliant ML150. For each leg of the production chain, indentify the various accounting and related issues that might arise. The might issues: Different Socio-economic environments. step by 1,2,3,4,5. it is involved Singapore, America, Taiwan, CHINA and so on. Different National financial reporting principles. (step by 2,4,5) Special disclosures for nondomestic financial statement readers(1,2,3). The exchange rate.(4,5) changing rate ￥,$... Kinds of financial statement analysis.(1,2) The Changing prices .in the 5 step, machines produced in different countries and sold in local markets. The level of each area’s education. The rate of the inflation. 2. Do you feel that efforts to harmonize global accounting standards are good thing? Why or why not?