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MBA 560 Week 4 Discussion An American company is considering entering into a joint venture with a firm in another country (please select another country of your choice). Describe what cultural and accounting practice differences each party should consider and explain why.
Post your initial response to the discussion question no later than Thursday 11:59 PM EST/EDT. General Electric (GE) and Pakistan Corporations across the globe and locally within the United States strive to increase their annual revenues and look for innovative ways in which to achieve this goal. Taking one's company to international status has its downfalls, however. Other countries do not always have the same protections or policies in place when conducting business locally or internationally. Companies wishing to expand beyond the U.S. borders have the potential to hit financial and regulatory barriers that they might not face should they grow within the United States. Williams, Haka, Bettner, Carcello, (2018) reported that "accounting rules, procedures, and standards in almost any chosen country developed differently from those in the United States…." (p. 684). Companies within the United States are governed by SOX and other regulatory agencies to ensure ethical and transparent financial and accounting practices occur. However, companies face barriers when attempting to expand outside of the United States parameters that these regulatory agencies govern. The main "goal of the International Accounting Standards Board is to identify a set of accounting standards that will be accepted by all governments and their related securities markets" (Williams, et al. 2018, p. 684). General Electric (GE) has been working toward globalization within Pakistan and providing power sources throughout the country. GE began the expansion in 2016 and proposed that they would be able to give power to "over 4 million homes and significantly reduce the cost of electricity generation in Pakistan" (GE, 2019, para 1). GE's goal of advancing its company to Pakistan came with challenges. The company had to overcome specific barriers financially and within the regulatory processes set between the United States and Pakistan. Per report GE had many problems in the completion of their venture with Pakistan, and the project was just

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