Chapter 19 Student P10 - Chapter19 Business MainConcepts...

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Chapter 19 Accounting in the International  Business
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Determinants of national accounting  standards International accounting standards and the  importance of harmonization The impact of exchange rates on accounting  practices and control and evaluation FASB’s Statement 52 for the generation of  consolidated financial statements Main Concepts
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Examples of Accounting Differences Valuation of assets Valuation of inventories Research development expenses Treatment of goodwill Assessment of financial ratios Use of consolidated financial statements
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Providers of Capital Political and Economic Ties Level of Inflation Level of Economic Development National Culture Determinants of National  Accounting Standards
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Providers of Capital Individual Investors Banks Government
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Professionalism versus Statutory Control Uniformity versus Flexibility Conservatism versus Optimism Secrecy versus Transparency National Culture
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Professionalism versus Statutory Control
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  • Spring '10
  • West
  • consolidated financial statements, national culture, National  Accounting Standards, accounting  standards, national accounting  standards, Financial Accounting Standards  Board

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