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1、International AccountingFrederick D.S. ChoiGary K. MeekChapter 1: IntroductionChoi/Meek, 6/e1国际会计第一单元Learning ObjectiveslHow international accounting is distinct from other areas of accounting?lDoes international accounting have a history?lIdentify and explain the three broad areas into which accoun
2、ting can be divided.lWhat factors are contributing to the importance of international accounting as a field of study?lWhat external and internal reporting issues arise when business and investing transcend national borders?Choi/Meek, 6/e2国际会计第一单元Keywords lTransnational corporationslWorld Accountingl
3、International Comparative AccountinglForeign SubsidiarieslDomestic accountinglInternational accountinglInternational Financial AccountinglMeasurement l DisclosurelAuditing Choi/Meek, 6/e3国际会计第一单元 Introduction lHow is international accounting distinct from other areas of accounting?Choi/Meek, 6/e4国际会
4、计第一单元The Definition of International AccountinglViewpoint 1: lWorld Accountingoptimistic viewpointlInternational accounting is a global system that should be adopted by all countries. It ought to establish a set of generally accepted accounting standard. Transnational corporations according this sta
5、ndard to prepare their financial statement.lThe major content of the course is international accounting standards. It discusses the principles, procedures and approaches applied in the world.Choi/Meek, 6/e5国际会计第一单元lViewpoint 2:l International Comparative Accountinglpessimistic viewpointlInternationa
6、l accounting is a subject that research each countrys accounting.lIt should include standard, method and the various accounting principles of all countries. lIt can not hope that establish a set of international , ideal accounting principle.lInternational accounting should be the convergence of all
7、countries. Accounting standards and conventions on world.Choi/Meek, 6/e6国际会计第一单元Viewpoint 3: lForeign Subsidiaries Accounting l practical viewpointl International accounting is a course that research the accounting practice of parent company and subsidiary. lForeign subsidiary should use the currenc
8、y measurement unit of the country where they are to make account . Its financial statement will accord with that countrys regulation. l Foreign subsidiary should compare the difference of the accounting principle, system and method between the homeland and other countries. lThe major contents of int
9、ernational accounting includes how to translate the financial statement prepared use foreign currency unit into homeland currency unit; How to prepare the amalgamated accounting statement between parent company with subsidiary; And so on.Choi/Meek, 6/e7国际会计第一单元Definition of accounting Accounting is
10、an information system of interpreting, recording, measuring, classifying , summarizing, reporting and describing business economic activities with monetary unit as its main criterion.Choi/Meek, 6/e8国际会计第一单元According to this textbook: What is International Accounting?lDomestic accountingl An informat
11、ion specialty providing information about a firm to users of that information as a basis for economic decisions. lInternational accounting P ，P1 l Same as above except that the firm being reported on is a multinational company with operations and transactions that cross national boundaries or an ent
12、ity with reporting obligations to non-domestic readers. Choi/Meek, 6/e9国际会计第一单元Main contentsof International AccountinglComparative International AccountinglClassification of the global accounting model and comparative study .lCompare the essential feature of accounting environment , accounting mode
13、l ,accounting criterion system , accounting standard and accounting practice in different countries or regions. Find the accounting difference , and study its reason.Choi/Meek, 6/e10国际会计第一单元Main contentsof International AccountinglInternational Financial AccountinglResearch on the problems of intern
14、ational accounting (multinational enterprise accounting, peculiar accounting problem related to enterprises international economic activity ) lFor example: International financial report , foreign currency accounting ,foreign currency report translation, accounting for changing prices, inflation acc
15、ounting , international transfer pricing ,etc. Choi/Meek, 6/e11国际会计第一单元Main contentsof International AccountinglInternational Management AccountinglResearch on the problems such as financial statement analysis, managerial planning ,financial risk management .and so on.Choi/Meek, 6/e12国际会计第一单元The Thr
16、ee areas of accounting lP，P1lMeasurement l DisclosurelAuditing Choi/Meek, 6/e13国际会计第一单元lMeasurement l Measurement is the process of identifying, categorizing, and quantifying economic activities or transactions.*economic activities or transactions 经济业务Choi/Meek, 6/e14国际会计第一单元lDisclosurel Disclosure
17、is the process by which accounting measurements are communicated to their intended users. l This area focuses on issues such as what is to be reported, when ,by what means, and to whom.Choi/Meek, 6/e15国际会计第一单元lAuditingl Auditing is the process by which specialized accounting professionals (auditor)
18、attest to the reliability of measurements are communicated process. Whereas internal auditors are company employees who answer to management, external auditors are nonemployees who are responsible for attesting that the companys financial statements are prepared in accordance with general accepted s
19、tandards.Choi/Meek, 6/e16国际会计第一单元lHISTORICAL PERSPECTIVElP1The origin of Accounting InternationalizationChoi/Meek, 6/e17国际会计第一单元lThe history of accounting is an international history (Accountings international heritage)lDouble-entry originates in the Italian city states.lBookkeeping spreads to Germa
20、ny and assists the spread of capitalism. lDutch enhance periodic income measurement.lFrench use accounting for governmental planning and control.lDouble entry assists the British in managing and controlling commercial interests in the colonies. lAccounting plays a major role in the U.S. industrial r
21、evolution. Choi/Meek, 6/e18国际会计第一单元P，P2lParadox(悖论悖论)of international accountinglIn many countries, accounting remains a nationalistic(国家主义）国家主义） affair.lAccounting serves people and institutions whose decisions are international in scope.lAccounting diversity（多样化）（多样化） creates a demand for harmoniz
22、ation（协调）（协调）.Choi/Meek, 6/e19国际会计第一单元lCONTEMPORARY PERSPECTIVEChoi/Meek, 6/e20国际会计第一单元21国际会计第一单元lWhat factors are contributing to the importance of international accounting as a field of study?Choi/Meek, 6/e22国际会计第一单元l Generally speaking , Accounting as an economic management ,It is limited by envi
23、ronment of particular country and particular period . Especially the economic environment.l In the sixties or seventy of the 20th century, There were several fields of economic background that promoted international accounting production directly . Choi/Meek, 6/e23国际会计第一单元Contributing Factors (conti
24、n)lGrowth and spread of multinational operations 跨国经营的增长与扩展跨国经营的增长与扩展Choi/Meek, 6/e24国际会计第一单元25国际会计第一单元Contributing Factors (contin)lGlobal competitionlCompetitive benchmarking （基准）necessitates international comparisons.Choi/Meek, 6/e26国际会计第一单元27国际会计第一单元Contributing Factors (contin)lCross-border mer
25、gers and acquisitionslCorporate valuation is a function of accounting measurements that vary from country to country. lInternationalization of capital marketslRaising external finance abroad means that financial reports must increasingly travel internationally.Choi/Meek, 6/e28国际会计第一单元Choi/Meek, 6/e2
26、9国际会计第一单元Choi/Meek, 6/e30国际会计第一单元Contributing Factors (contin)lReporting issues associated with internationalization of capital marketslHow to analyze and interpret foreign accounts?lHow to report to foreign readers?lHow to harmonize reporting standards internationally?Choi/Meek, 6/e31国际会计第一单元lWhat
27、external and internal reporting issues arise when business and investing transcend national borders?Choi/Meek, 6/e32国际会计第一单元lReporting issues when business transcends national boundarieslConsolidation of foreign accountslAccounting for foreign currency fluctuationslAccounting for changing priceslInt
28、ernational planning and controllPerformance evaluation of foreign operationslFinancial risk managementlInternational taxation and transfer pricingChoi/Meek, 6/e33国际会计第一单元lFinancial innovationlIdentifying potential market riskslQuantifying trade-offs associated with alternative risk reduction strateg
29、ieslMeasuring risk exposureslAccounting for specific hedge productsl会计避险产品会计避险产品 lEvaluating the effectiveness of hedging programsChoi/Meek, 6/e34国际会计第一单元ExerciseslComplete the following sentences .l1.we view accounting as consisting of three broad areas: _,_and_.l2. Double-entry originates in the _
30、city states.l3. _ is the process of identifying, categorizing, and quantifying economic activities or transactionsl4.Measurement is the process of_, categorizing, and quantifying economic activities or transactions. Choi/Meek, 6/e35国际会计第一单元l5. _focuses on issues such as what is to be reported, when
31、,by what means, and to whom.l6.The auditors were divided into two categories: _ auditors and _ auditors._ are company employees who answer to management but _are nonemployees who are responsible for attesting that the companys financial statements are prepared in accordance with general accepted sta
32、ndards.l7. Foreign currency report translation is one of the contents of international _ accounting. Choi/Meek, 6/e36国际会计第一单元lJudgment the item below is false or true.l1. Domestic accounting is an information specialty providing information about a firm to users of that information as a basis for ec
33、onomic decisions.l2. International accounting is a branch of accounting. It resolves the specific accounting practice of a multinational company or providing information of an entity to non-domestic readers.l3.Accounting can be divided into three broad areas : measurement ,disclosure and auditing.Ch
34、oi/Meek, 6/e37国际会计第一单元lJudgment the item below is false or true.l4.In the history of accounting ,double-entry originates in the British city states.l5.In the history of accounting, Dutch enhance periodic income measurement.l6. The problems such as managerial planning ,financial risk management is th
35、e content which belongs to international financial accounting.Choi/Meek, 6/e38国际会计第一单元lExplain to the concepts .l1. International accountingl International accounting is a area of accounting which study on how to treatment specific accounting practice of a multinational company or how to provide inf
36、ormation of an entity to non-domestic readersl2.Measurement l3.Disclosurel4.AditingChoi/Meek, 6/e39国际会计第一单元lAnswer the questions below .l1. What factors are contributing to the importance of international accounting as a field of study?lGrowth and spread of multinational operationslGlobal competitio
37、nlCross-border mergers and acquisitionslInternationalization of capital marketsChoi/Meek, 6/e40国际会计第一单元l2. What external and internal reporting issues arise when business and investing transcend national borders?l Consolidation of foreign accountslAccounting for foreign currency fluctuationslAccounting for changing priceslInternational planning and controllPerformance evaluation of foreign operationslFinancial risk managementlInternational taxation and transfer pricingChoi/Meek, 6/e41国际会计第一单元
