国际会计学 第5版PDF电子书下载

CHAPTER 1 Introduction 1

Historical Perspective 2

Contemporary Perspective 3

Growth and Spread of Multinational Operations 3

Global Competition 5

Cross-Border Mergers and Acquisitions 6

Financial Innovation 7

Internationalization of Capital Markets 7

North America 8

Asia 8

Western Europe 9

European Equity Markets—A Closer Look 10

Continental Europe's New Equity Culture 10

Cross-Border Equity Listing and Issuance 11

Where Are We? 12

Learning Objectives 13

Appendix 1-1 Stock Exchange Web Sites 17

Selected References 18

Discussion Questions 19

Exercises 20

Case 1-1 E-centives,Inc.—Raising Capital in Switzerland 22

CHAPTER 2 Development and Classification 24

Development 25

Classification 31

Four Approaches to Accounting Development 31

Legal Systems:Common Law versus Code Law Accounting 32

Practice Systems:Fair Presentation versus Legal Compliance Accounting 33

Selected References 35

Discussion Questions 36

Exercises 37

Case 2-1 Are Classifications of Accounting Outmoded? 40

Case 2-2 Volkswagen Group 41

CHAPTER 3 Comparative Accounting Ⅰ 44

Six National Financial Accounting Systems 46

France 46

Germany 51

Japan 56

The Netherlands 61

United Kingdom 65

United States 70

Selected References 76

Discussion Questions 76

Exercises 77

Case 3-1 Standing on Principles 81

CHAPTER 4 Comparative Accounting Ⅱ 83

Reasons for Choosing These Four Countries and areas 83

Some Observations About the Four Countries and areas and Their Accounting 84

Four National Financial Accounting Systems 86

Czech Republic 86

China 90

Taiwan 94

Mexico 98

Selected References 102

Discussion Questions 103

Exercises 104

Case 4-1 Does Secrecy Pay? 107

CHAPTER 5 Reporting and Disclosure 109

Development of Disclosure 110

Voluntary Disclosure 110

Regulatory Disclosure Requirements 111

The U.S.SEC Financial Reporting Debate 113

Reporting and Disclosure Practices 114

Disclosures of Forward-Looking Information 114

Segment Disclosures 116

Cash Flow and Funds Flow Statements 119

Social Responsibility Disclosures 119

Special Disclosures for Nondomestic Financial Statement Users and Accounting Principles Used 125

Corporate Governance Disclosures 126

Internet Business Reporting and Disclosure 126

Annual Report Disclosures in Emerging Market Countries 133

Implications for Financial Statement Users and Managers 135

Selected References 136

Discussion Questions 136

Exercises 137

Case 5-1 Information Access in Mexico 140

Case 5-2 Tele2 AB 141

CHAPTER 6 Foreign Currency Translation 142

Reasons for Translation 145

Background and Terminology 145

The Problem 147

Financial Statement Effects of Alternative Translation Rates 149

Foreign Currency Transactions 151

Single-Transaction Perspective 153

Two-Transaction Perspective 153

Foreign Currency Translation 155

Single Rate Method 155

Multiple Rate Methods 156

Financial Statement Effects 158

Which Is Best? 160

Appropriate Current Rate 162

Translation Gains and Losses 162

Deferral 163

Deferral and Amortization 163

Partial Deferral 164

No Deferral 164

Where Are We? 164

Translation Accounting Development 165

Pre-1965 165

1965-1975 165

1975-1981 165

1981-Present 166

Features of Standard No.52 166

Translation When Local Currency Is the Functional Currency 167

Translation When the U.S.Dollar Is the Functional Currency 167

Translation When Foreign Currency Is the Functional Currency 167

The Debate 170

Reporting Perspective 170

What Happened to Historical Cost? 171

Concept of Income 171

Managed Earnings 171

Foreign Currency Translation and Inflation 172

Foreign Currency Translation Elsewhere 173

Current Trends 174

Appendix:Translation and Remeasurement Under FAS No.52 174

Current Rate Method 175

Temporal Method 177

Selected References 179

Discussion Questions 180

Exercises 181

CHAPTER 7 Financial Reporting and Changing Prices 185

Changing Prices Defined 188

Why Are Financial Statements Potentially Misleading During Periods of Changing Prices? 190

Types of Inflation Adjustments 191

General Price-Level Adjustments 191

Price Indexes 191

Object of General Price-Level Adjustments 193

Current Cost Adjustments 195

Which Method Is Best? 196

International Perspective on Inflation Accounting 198

United States 198

United Kingdom 200

Brazil 201

International Accounting Standards Board 205

Inflation Issues 205

Inflation Gains and Losses 205

Holding Gains and Losses 206

Accounting for Foreign Inflation 207

Avoiding the Double-Dip 209

Appendix 7-1 Accounting for Foreign Inflation:A Case Analysis 211

Selected References 214

Discussion Questions 215

Exercises 216

Case 7-1 Kashmir Enterprises 220

CHAPTER 8 International Accounting Harmonization 221

Introduction 221

A Survey of International Harmonization 222

Advantages of International Harmonization 222

Criticisms of International Standards 223

Reconciliation and Mutual Recognition 224

Evaluation 225

Applicability of International Standards 225

Some Significant Events in the History of International Accounting Standard Setting 226

Overview of Major International Organizations Promoting Accounting Harmonization 227

International Accounting Standards Board 228

IASC's Core Standards and the IOSCO Agreement 232

The New IASB Structure 234

Recognition and Support for the IASB 235

U.S.Securities and Exchange Commission Response to IFRS 236

Comparisons between IFRS and Other Comprehensive Bodies of Accounting Principles 236

European Union(EU) 237

Fourth,Seventh,and Eighth Directives 238

Have EU Harmonization Efforts Been Successful? 239

The EU's New Approach and the Integration of European Financial Markets 240

International Organization of Securities Commissions(IOSCO) 241

International Federation of Accountants(IFAC) 243

United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting(ISAR) 245

Organization for Economic Cooperation and Development(OECD) 245

Conclusion 246

Selected References 247

Discussion Questions 248

Exercises 248

Case 8-1 Accounting Quality in East Asia 253

CHAPTER 9 International Financial Statement Analysis 255

Introduction 255

Challenges and Opportunities in Cross-Border Analysis 255

Business Analysis Framework 256

International Business Strategy Analysis 257

Information Availability 257

Recommendations for Analysis 258

Accounting Analysis 259

Suggestions for the Analyst 261

International Financial Analysis 262

Ratio Analysis 262

Cash Flow Analysis 265

Coping Mechanisms 265

International Prospective Analysis 266

Further Issues 269

Information Access 269

Timeliness of Information 272

Foreign Currency Considerations 273

Differences in Statement Format 276

Language and Terminology Barriers 278

Appendix 9-1 Illustration of Restatement of Japanese GAAP Financial Statements to a U.S.GAAP Basis 279

Selected References 284

Discussion Questions 285

Exercises 286

CHAPTER 10 Managerial Planning and Control 291

Business Modeling 292

Planning Tools 292

Capital Budgeting 294

Financial Return Perspectives 295

Measuring Expected Returns 296

Multinational Cost of Capital 299

Management Information Systems 301

Systems Issues 301

Information Issues 303

Management Information and Hyperinflation 304

Sales Revenue 305

Issues in Financial Control 308

Domestic Versus Multinational Control System 309

Operational Budgeting 311

Analysis of Exchange Rate Changes 315

Strategic Costing 318

Performance Evaluation of Foreign Operations 320

Consistency 320

Unit Versus Managerial Performance 321

Performance Criteria 322

Measurement Issues and Changing Prices in Evaluation 325

Performance Evaluation Practices:ICI 325

Foreign Currency Effects 327

Performance Standards 328

Selected References 330

Discussion Questions 331

Exercises 332

Case 10-1 Foreign Investment Analysis:A Tangled Affair 336

CHAPTER 11 International Taxation and Transfer Pricing 338

Initial Concepts 339

Diversity of National Tax Systems 339

Types of Taxes 339

Tax Burdens 340

Tax Administration Systems 343

Foreign Tax Incentives 344

Harmful Tax Competition 345

International Harmonization 345

Taxation of Foreign Source Income and Double Taxation 345

Foreign Tax Credit 346

Limits to Tax Credits 348

Tax Treaties 349

Foreign Exchange Considerations 349

Tax Planning Dimensions 350

Organizational Considerations 350

Controlled Foreign Corporations and Subpart F Income 350

Offshore Holding Companies 351

Foreign Sales Corporations 351

Financing Decisions 352

Pooling of Tax Credits 353

Cost Accounting Allocations 354

Location and Transfer Pricing 354

International Transfer Pricing:Complicating Variables 354

Tax Considerations 355

Tariff Considerations 357

Competitive Factors 358

Environmental Risks 359

Performance Evaluation Considerations 359

Accounting Contributions 359

Transfer Pricing Methodology 360

Market versus Cost versus...? 360

Arm's-Length Principle 361

Comparable Uncontrolled Price Method 361

Comparable Uncontrolled Transaction Method 361

Resale Price Method 361

Cost-Plus Pricing Method 363

Comparable Profits Method 364

Profit Split Methods 365

Other Pricing Methods 365

Advance Pricing Agreements 366

Transfer Pricing Practices 366

The Future 368

Selected References 368

Discussion Questions 369

Exercises 370

Case 11-1 Muscle Max:Your Very Own Personal Trainer 374

Case 11-2 Double Double:Tax Is Trouble 375