Question;1.;How does a multinational corporation differ from a;domestic firm involved in international business?;2.;Explain;the goal of harmonization of accounting systems.;3.;Why is the availability of comparable accounting;statements important to multinational firms?;9-7;Chapter 9;4.;Why will the formation of the European Union (EU);provide U.S. businesses with opportunities for growth?;5.;An issue that affects comparability between;multinational corporations is the treatment of transfer pricing. Provide a;description of transfer pricing and discuss the problems it creates.;6.;A Brazilian company has presented a set of financial;statements to your client, a U.S. bank. The Brazilian firm is seeking help in;financing a long-term lease. State three ways in which their statements will;differ from the U.S. statements of which your client is familiar.;9-8;Chapter 9;7.;Describe some driving forces for the international;development of accounting.;8.;What are the two primary approaches to the;harmonization of accounting standards? Which method would be more beneficial;and why?;9.;A common method of taxation is the value added tax;(VAT). Provide a description of how this tax is applied.;9-9;Chapter 9;10.;Given the political nature of accounting standards;setting in the U.S., what approach would you suggest to convince a U.S. policy;maker of the need for international standards?;11.;U.S. accounting standards allow for several methods;of accounting for similar transactions. In many other countries, only one;method is allowed. Having discussed the various influences on accounting;standards around the world, why do you think the U.S. standards are more likely;to allow diversity?
Paper#44390 | Written in 18-Jul-2015Price : $22