Lee H. Radebaugh, Sidney J. Gray, Ervin L. Black

International Accounting and Multinational Enterprises

• Gebundenes Buch

Produktbeschreibung

From the Sarbanes-Oxley Act to new rules in the IASB, the world of global finance is constantly changing. The sixth edition of this best-selling text follows those changes as it presents international accounting within the context of managing multinational enterprises. While examining the efforts of the IASB to establish a uniform set of accounting standards worldwide and its interface with different national standard setters, the author focuses on international business strategies and how accounting applies to these strategies.

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Make informed decisions in today s dynamic international business environments
International accounting has never been so exciting. Not only is the pace of international business, finance, and investment rapidly increasing, but we are also moving closer than ever before toward a convergence of accounting standards worldwide.

Updated and revised to keep pace with these changes, this Sixth Edition of Radebaugh, Gray, and Black s International Accounting and Multinational Enterprises focuses on international business strategies and how accounting applies to these strategies. You ll learn how to use financial and accounting information across borders, and make more informed decisions in an increasingly complex international business environment. The authors also explain the key factors, including cultural differences, that influence accounting standards and practices in different countries, and how those factors impact the harmonization of standards worldwide.

New to This Edition:
New coauthor, Ervin L. Black of Brigham Young University.
Updated coverage on corporate governance, Sarbanes-Oxley, the Public Company Accounting Oversight Board (PCAOB), and how these forces affect U.S.-based multinationals, as well as companies in other countries.
Increased coverage of the efforts of the International Accounting Standards Board (IASB) to establish a uniform set of International Financial Reporting Standards (IRFS) worldwide and its interface with different national standard setters, especially the FASB. Special attention is given to the experience of the European Union and Australia in adopting IFRS in 2005.
A web-based International Accounting Practice Problem, which helps students see how to apply IFRS to a set of transactions.
Brief, user-oriented examples called Strategic Decision Points at the beginning of each chapter.
Expanded end-of-chapter material, including more discussion questions and exercises.
New cases (two per chapter) on the web.
Accounting for foreign exchange is now covered in two chapters. One chapter focuses on accounting issues, and the other chapter, which is new, focuses on foreign exchange risk management.

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Produktdetails

• Verlag: Wiley & Sons
• 6. Aufl.
• Seitenzahl: 520
• Erscheinungstermin: 1. Januar 2006
• Englisch
• Abmessung: 261mm x 184mm x 24mm
• Gewicht: 923g
• ISBN-13: 9780471652694
• ISBN-10: 0471652695
• Artikelnr.: 22292665

Autorenporträt

Lee Radebaugh, Ph.D., is the Director of the School of Accountancy and Information Systems and KPMG Professor of Accounting at Brigham Young University. In addition, he is the Executive Director of the BYU Center for International Business Education and Research (CIBER). Professor Radebaugh is co-author of International Business Environments and Operations and International Accounting and Multinational Enterprises, and is the co-author of seven books on Canada-U.S. trade and investment relations. In 1998 he was named the "Outstanding International Educator" of the International Section of the American Accounting Association, and "International Person of the Year" by the World Trade Association of Utah. Sidney J. Gray, Ph.D., is Professor of International Business and Head of the School of International Business in the Faculty of Commerce and Economics at the University of New South Wales. He is also foundation Co-Director of the Australian Centre for International Business(a collaborative venture with the University of Melbourne). Professor gray has published in many leading journals around the world, and is the author/co-author of a number of books, including International Accounting and Multinational Enterprises and Financial Accounting: A Global Approach. In 1994 he as named "Outstanding International Accounting Educator" by the American Accounting Association.

Inhaltsangabe

Chapter 1 International Accounting and International Business 1
Introduction 1
The International Development of the Accounting Discipline 2
National Differences in Accounting Systems 5
The Evolution and Significance of International Business 6
Forms of International Involvement 9
Environmental Influences on Accounting 15
Major Development Factors 18
Accountability and Multinational Enterprises 24
Accounting Aspects of International Business 25
The Field of International Accounting 26
Summary 29
Case: Toyota's Global Expansion
Case: Ahold and the Challenges of Going Global
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 2 International Accounting Patterns, Culture and Development 34
Introduction 34
Purposes of International Classification 35
Classification of Accounting and Reporting Systems 35
Cultural Influences on Accounting Systems 41
Culture, Societal Values, and Accounting 42
International Pressures for Accounting Change 52
Summary 54
Case: General Motors and Japanese Convergence vs. Chinese Convergence
Case: Inductive Methods and Deductive Methods Relating Reporting Standards
to Cultural Values
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 3 Comparative International Financial Accounting I 60
Introduction 60
Anglo-American Accounting 62
Nordic Accounting 65
Germanic Accounting 67
Latin Accounting 70
Asian Accounting 72
Summary 74
Case: Reporting Standards vs. Tax Standards
Case: EU Conversion
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 4 Comparative International Financial Accounting II 79
Introduction 79
Anglo-American Accounting 82
Latin Accounting 83
Asian Accounting 85
Eastern European Accounting 88
Summary 91
Case: Small GAAP vs. Large GAAP
Case: Developing Countries
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 5 International Financial Statement Analysis 95
Introduction 95
International Accounting Differences and Financial Statement Analysis 96
Major Differences in Accounting Principles Around the World 99
The Impact of U.S.-U.K. Accounting Differences: A Quantitative Analysis 103
A Global Perspective on Earnings Measurement 106
A Comparative Global Analysis 108
International Accounting Differences and the Stock Market 109
Factors Influencing Measurement Differences 109
Global Accounting Convergence 110
Summary 110
Case: Alcatel and Lucent
Case: Hanson and ICI
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 6 International Transparency and Disclosure 124
Introduction 124
The Meaning of Transparency 125
Disclosure in Corporate Reports 126
International Disclosure Regulation 135
Corporate Reporting Trends 139
Corporate Review Information 139
Operations Review 143
Financial Review 144
Frequency and Timeliness of Reporting 145
Growing Pressures for Transparency 145
Summary 145
Case: Infosys Technologies (India)
Case: Stora Enso and the Versel Vision-A Model of Sustainability
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 7 International Accounting Standards and Global Convergence 151
Introduction 151
Governments 153
Trade Unions and Employees 167
Investors 169
Bankers and Lenders 171
Accountants and Auditors 171
The International Harmonization and Disclosure Debate 182
Summary 183
Case: European Adoption of IFRS
Case: IAS 39
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 8 International Business Combinations, Goodwill, and Intangibles
189
Introduction 190
Consolidated Financial Statements 190
Funds and Cash Flow Statements 197
Joint Venture Accounting 199
Goodwill and Intangibles 200
Goodwill 202
Brands, Trademarks, Patents, and Related Intangibles 209
Research and Development 213
Summary 216
Case: Multigroup (Switzerland)
Case: Vodafone's Operations
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 9 International Segment Reporting 223
Introduction 223
Users and Uses of Segment Information 224
The Benefits of Segment Reporting 225
The Costs of Segment Reporting 226
International Financial Reporting Standards 227
Regulations around the World 228
Segment Reporting Problems 231
The Dual-Yardstick Proposal 234
Summary 241
Case: BMW
Case: Nestlé
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 10 Accounting for Foreign Currency 246
Introduction 246
Basics in Foreign Exchange 247
Foreign Currency Transactions 250
Translation of Foreign Currency Financial Statements 254
Translation Methodologies: An Overview 255
International Accounting Standards 257
Historical Development in the United States 257
Convergence 274
Summary 274
Case: Kamikaze Enterprises
Case: Coca-Cola
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 11 International Accounting for Price Changes 284
Introduction 284
Impact of Inflation on the Corporation 285
Accounting Measurement Alternatives 286
International Financial Reporting Standards 289
Comparative National Regulation and Practice 291
Problems and Prospects 298
Summary 299
Case: BP
Case: Fosters Brewing Group
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 12 Corporate Governance and Control of Global Operations 303
Introduction 303
Global Strategic Issues 304
Informal and Subtle Mechanisms 308
Organizational Structure 308
Corporate Governance 313
International Importance of Governance 316
Studies on International Corporate Governance Practices 317
Cross National Differences in Corporate Governance 322
Internal Controls 326
The Role of Information Technology in MNEs 328
Firm Strategy, Structure, and the Accounting Function 332
Summary 334
Case: P&G and Unilever-Restructuring for Growth
Case: The Royal Dutch/Shell Scandal
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 13 Managing Foreign Exchange Exposure 342
Introduction 342
Foreign Exchange 343
Types of Hedging Exposure 353
Hedging Strategies 356
Accounting for Foreign Currency Derivatives 360
Use of Derivatives to Hedge a Net Investment 369
Disclosure of Derivative Financial Instruments 369
Summary 371
Case: Nokia's Foreign Exchange Exposure
Case: RadCo International
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 14 International Budgeting and Performance Evaluation 380
Introduction 380
The Strategic Control Process 381
Empirical Studies of Differences in Management Accounting and Control
Practices Across Nations 382
Challenges of Control in the Global Firm 390
Intracorporate Transfer Pricing 397
Performance Evaluation Issues 403
Economic Value Added 405
The Balanced Scorecard 407
Summary 409
Case: Niessen Apparel
Case: Global Telecom
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 15 International Auditing Issues 420
Introduction 420
The Accounting and Auditing Profession 421
Global Audit Services and the International Auditing Challenge 422
Audit Challenges: Local Business Practices and Customs 424
Audit Challenges: Currency, Language, and Law 425
Audit Challenges: Distance and Organization for Providing Audit Services
425
Audit Challenges: Audit Impediments from International
Diversity,Availability, and Training of Auditors 427
Global Accounting Firms 430
Audit Standards 434
Summary 455
Case: Lucas International: Coordinating an International Audit
Case: Xerox Corporation
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Chapter 16 International Taxation Issues 464
Introduction 464
Direct Taxes 465
Indirect Taxes 468
The Avoidance of Double Taxation of Foreign Source Income 469
U.S. Taxation of Foreign Source Income 471
Tax Effects of Foreign Exchange Gains and Losses 475
Tax Incentives 477
Tax Dimensions of Expatriates 478
Intracorporate Transfer Pricing 479
Tax Planning in the International Environment 482
Summary 483
Case: Transfer Pricing
Case: Midwest Uniforms
These cases can be found on the following website:
www.wiley.com/college/radebaugh
Name and Company Index 489
Subject Index 493