国际会计学 英文版PDF电子书下载

Chapter1: Introduction 1

A Brief History of International Accounting 2

Role of Accounting in Business and Global Capital Markets 6

The Global Environment of Business 6

Capital Markets 7

An Introduction to Global Equity Markets 7

The Three Major Equity Market Regions 11

European Equity Markets-A Closer Look 15

Continental Europe s New Equity Culture 15

Convergence and Integration of Equity Markets 16

Stock Exchange Alliances and Mergers 17

Preface 17

Cross-Border Equity Listing and Issuance 18

An Example-Nikken Chemicals Co., Limited 19

Appendix 1-1 Stock Exchange Alliances and Mergers 21

Appendix 1-2 Financial Statement and Auditor s Report from Nikken Chemical Co.Ltd. s 2000 Annual Report 23

Appendix 1-3 Stock Exchange Web Sites 34

Selected References 36

Discussion Questions 36

Exercises 37

Case 1-1 e-centives, Inc-Raising Capital in Switzerland 39

Chapter2: Development and Classification 41

Development 42

Comparative Development Patterns 47

Macroeconomic Pattern 48

The Microeconomic Pattern 48

The Independent Discipline Approach 49

The Uniform Accounting Approach 49

Classification 49

Judgmental Classifications 50

Empirically Derived Classifications 53

Conclusion 55

Selected References 58

Discussion Questions 59

Exercises 59

Case 2-1 Are Classifications of Accounting Outmoded？ 62

Case 2-2 MAN AG 63

Chapter3: Comparative AccountingⅠ 65

Basic Concepts 67

Six National Financial Accounting Systems 68

France 68

Germany 73

Japan 77

The Netherlands 81

United Kingdom 86

United States 91

Selected References 95

Discussion Questions 97

Exercises 98

Case 3-1 A Rose by Any Other Name 100

Case 3-2 Kiwis Cannot Fly,But at Least When Troubles Loom,They Keep Their Heads Out of the Sand 114

Chapter 4: Comparative Accounting Ⅱ 118

Some Observations About the Four Countries and Their Accounting 119

Reasons for Choosing These Four Countries 119

Four National Financial Accounting Systems 121

Czech Republic 121

China 125

Taiwan 130

Mexico 134

Selected References 138

Discussion Questions 139

Exercises 140

Case 4-1 Does Secrecy Pay？ 142

Case 4-2 After NAFTA 143

Chapter5: Reporting and Disclosure 145

Development of Disclosure 146

Voluntary Disclosure 146

Regulatory Disclosure Requirements 147

The U.S.SEC Financial Reporting Debate 149

Reporting Requirements for Listed Companies in Ten Equity Markets 150

Prospectuses 150

China 151

Czech Republic 152

France 153

Germany 154

Japan 155

Mexico 157

The Netherlands 158

Taiwan 159

United Kingdom 160

United States 161

Reporting and Disclosure Practices 162

Disclosures of Forward-Looking Information 163

Segment Disclosures 167

Cash Flow and Funds Flow Statements 170

Social Responsibility Disclosures 172

Special Disclosures for Non-Domestic Financial Statement Users and Accounting Principles Used 178

Corporate Governance Disclosures 180

Internet Business Reporting and Disclosure 180

Annual Report Disclosures in Emerging Market Countries 194

Implications for Financial Statement Users and Managers 198

Selected References 199

Discussion Questions 201

Exercises 202

Case 5-1 Information Access in Mexico 204

Case 5-2 Netcom AB 205

Reasons for Translation 207

Chapter 6:Foreign Currency Translation 207

Background and Terminology 208

The Problem 209

Financial Statement Effects of Alternative Translation Rates 211

Foreign Currency Translation 216

Single Rate Method 216

Multiple Rate Method 217

Financial Statement Effects 219

Which Is Best? 222

Appropriate Current Rate 224

Translation Gains and Losses 224

1975-1981 227

1965-1975 227

Translation Accounting Debates 227

Pre-1965 227

1981-Present 228

Features of Standard NO.52 228

The Debate Continues 232

Reporting Perspective 232

What Happened to Historical Cost? 233

Concept of Income 233

Managed Earnings? 233

Foreign Currency Translation and Inflation 234

Foreign Currency Translation Elsewhere 235

Current Trends 236

Appendix:Translation and Remeasurement Under FAS No.52 236

Current Rate Method 237

Temporal Method 239

Selected References 241

Discussion Questions 242

Exercises 243

Case 6-1 Regents Corporation 247

Care 6-2 Managing Offshore Investments:Whose Currency? 248

Chapter7:Accounting for Changing Prices 252

Why Are Financial Statements Potentially Misleading During Periods of Changing Prices? 254

Types of Inflation Adjustments 255

General Price Level Adjustments 255

Price Indexes 255

Object of General Price Level Adjustments 256

Current Cost Adjustments 258

Which Method Is Best? 261

International Perspective on Inflation Accounting 261

International Accounting Standards Committee 267

Inflation Issues 268

Holding Gains and Losses 270

Accounting for Foreign Inflation 271

Avoiding the Double-Dip 272

Appendix 7-1 Supplementary Current Cost Disclosure 275

Appendix 7-2 Accounting for Foreign Inflation:A Case for Analysis 280

Selected References 283

Discussion Questions 283

Exercises 284

Case Study 7-1 Kashmir Enterprises 288

Case Study 7-2 Icelandic Enterprises,Inc. 289

Introduction 291

Chaper 8:International Accounting Harmonization 291

A Survey of International Harmoniztion 292

Advantages of Interntional Harmonization 292

Criticisms of International Standards 293

Reconciliation and Mutual Recognition 294

Evaluation 295

Applicability of International Standards 295

Some Significant Events in the History of International Accounting Standard Setting 296

Overview　of　Major International Organizations Promoting Accounting Harmonization 297

International Accounting Standards Board 298

The New IASB Structure 303

IASC s Core Standards and the IOSCO Agreement 303

Recognition and Support for the IASB 306

U.S.Securities and Exchange Commission Response to IAS 306

Comparisons Between IAS and Other Comprehensive Bodies of Accounting Principles 307

European Union(EU) 308

Fourth Directive 309

Seventh Directive 311

Eighth Directive 312

Have EU Harmonization Efforts Been Successful? 312

The EU s Approach and the Integration of European Financial Markets 313

Investment Services Directive 314

Public Offers Directive 314

International Organization of Securities Commissions(IOSCO) 315

EU Admission and Disclosure Directive 315

International Federation of Accountants(IFAC) 316

United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting(ISAR) 318

Organization for Economic Cooperation and Development(OECD) 318

Conclusion 319

Appendix 8-1 Comparison of IASB,U.S.and U.K.Standards 320

Appendix 8-2 Shanghai Tyre Rubber CO.,Ltd.and Subsidiaries Notes to Consolidated Financial Statements 329

Selected References 337

Exercises 338

Discussion Questions 338

Case 8-1 Shanghai Tyre Rubber Co.,Ltd. 341

Case 8-2 Accounting Quality in East Asia 342

Chapter 9:International Financial Statement Analysis 344

Introduction 344

Challenges and Opportunities in Cross-Border Analysis 345

Business Analysis Framework 346

International Business Strategy Analysis 346

Information Availability 347

Recommendations for Analysis 347

Accounting Analysis 348

Suggestions for the Analyst 351

International Financial Analysis 351

Ratio Analysis 352

Cash Flow Analysis 357

Coping Mechanisms 358

International Prospective Analysis 360

Further Issues 362

Information Access 362

Timeliness of Information 366

Foreign Currency Considerations 368

Differences in Statement Format 372

Language and Terminology Barriers 372

Appendix 9-1 Illustration of Restatement of Japanese GAAP Financial Statements to a U.S.GAAP Basis 374

Appendix 9-2 International Ratio Analysis 376

Selected References 378

Discussion Questions 379

Exercises 380

Case 9-1 Accounting Quality Analysis 383

Case 9-2 Restatement of International Accounting Standards to U.S.GAAP 384

Chapter 10:Managerial Planning and Control 385

Planning Tools 386

Business Modeling 386

Strategic Costing 388

Capital Budgeting 389

Financial Return Perspectives 390

Measuring Expected Returns 391

Multinational Cost of Capital 394

Management Information Systems and Control 396

Information and Information Systems 396

Information Issues 398

System Issues 399

Domestic Versus Multinational Control System 400

Issues in Financial Control 400

Operational Budgeting 402

Analysis of Exchange Rate Changes 405

Performance Evaluation of Foreign Operations 409

Consistency 409

Unit Versus Managerial Performance 410

Performance Criteria 411

Measurement Issues and Changing Prices in Evaluation 413

Inflation and Performance Measurement 415

Sales Revenue 417

Foreign Currency Translation 420

Performance Standards 421

A Multinational Comparsion 423

System Objectives 423

Performance Criteria 423

Currency Volatility 424

Inflation and Performance Evaluation 424

Other Environmental Problems 425

Performance Standards 425

Satisfaction with Existing Systems 425

Selected References 425

Discussion Questions 426

Exercises 427

Case 10-1 Foreign Operations Disclosures: A Tangled Affair 431

Case 10-2 Assessing Foreign Subsidiary Performance in a World of Floating Exchange Rates 432

Chapter 11:Financial Risk Management 435

Essentials 435

Why Manage Financial Risk? 436

Role of Accounting 437

Identifying Market Risk 437

Quantify Trade-Offs 438

Accounting for Hedge Products 438

Foreign Exchange Risk Management 439

Accounting and Conceptual Issues 440

Transactions Gains and Losses 440

Translation Gains and Losses 442

Economic Gains and Losses 442

Risk Management in a World of Floating Exchang Rates 443

Forecasting Exchange Rate Changes 443

Exposure Management 444

Translation Exposure 444

Transaction Exposure 448

Accounting Versus Economic Exposure 450

Protection Strategies 452

Balance Sheet Hedges 452

Operational Hedges 452

Contractual Hedges 453

Accounting and Control for Financial Derivatives 455

Foreign Exchange Forward Contracts 455

Currency Swaps 456

Financial Futures 457

Accounting Treatments 458

Hedge of a Recognized Asset or Liability or an Unrecognized Firm Commitment 459

Speculating in Foreign Currency 461

Hedge of a Net Investment in a Foreign Operation 461

Recent Reporting Developments 462

Fair Value Hedges 463

Cash Flow Hedges 463

Foreign Currency Net Investment Hedges 463

Comprehensive Income 463

Financial Control 464

Financial Control Points 464

Appropriate Benchmarks 465

Reporting Systems 465

Selected References 466

Dixcussion Questions 467

Exercises 467

Case 11-1 Value an Risk: What Are Our Options? 470

Case 11-2 Exposure Identification 471

Chapter 12:International Taxation and Transfer Pricing 472

Initial Concepts 473

Diversity of National Tax Systems 473

Types of Taxes 473

Tax Burdens 477

Tax Administration Systems 478

Harmful Tax Competition 480

Foreign Tax Incentives 480

International Harmonization 481

Taxation of Foreign Source Income and Double Taxation 481

Foreign Tax Credit 481

Limits to Tax Credits 484

Tax Treaties 485

Foreign Exchange Consideration 485

Tax Planning Dimensions 486

Organizational Considerations 486

Controlled Foreign Corportions and Subpart F Income 486

Foreign Sales Corporations 487

Offshore Holding Companies 487

Possession Corporation 488

Financing Decisions 489

Pooling of Tax Credits 489

Cost Accounting Allocations 490

Logistics and Transfer Pricing 490

International Transfer Pricing:Complicating Variables 491

Tax Considerations 491

Tariff Considerations 493

Competitive Factors 494

Performance Evaluation Considerations 495

Environmental Risks 495

Accounting Contributions 496

Transfer Pricing Methodology 496

Market Versus Cost Versus...? 496

Arm s-Length Principle 497

Comparable Uncontrolled Price Method 497

Resale Price Method 497

Cost-Plus Pricing Method 499

Other Pricing Methods 501

Comparable Uncontrolled Transaction Method 501

Profits Splits Method 501

Comparable Profits Method 501

Advance Princing Agreements 502

Transfer Pricing Practices 503

The Future 505

Selected References 506

Discussion Questions 506

Exercises 507

Case 12-1 Muscle Max:Your Very Own Personal Trainer 510

Case 12-2 Congress Giveth and Congress Taketh 511

Index 512