For upper division undergraduate, and graduate students. Focus on the essentials of international accounting. International Accounting was written with the express purpose of introducing students to the international dimensions of accounting, financial reporting and financial control. The seventh edition includes extensively updated material throughout the text.
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IntroductionChapter 2. Development and ClassificationChapter 3. Comparative Accounting: EuropeChapter 4. Reporting and DisclosureChapter 6. Foreign Currency TranslationChapter 7. Financial Reporting and Changing PricesChapter 8.
Global Accounting and Auditing StandardsChapter 9. International Financial Statement AnalysisChapter Managerial Planning and ControlChapter Financial Risk ManagementChapter Are national taxes compatible with a global economy? Are taxes neutral with regard to business decisions? Is this good or bad? What philosophies and types of taxes exist worldwide? What role tax credits play in international taxation?
What considerations might cause tax credits to not achieve their intended results? Compare and contrast the role of transfer pricing in national versus international operations Multinational transfer pricing causes serious concern for various corporate stakeholders Identify potential concerns from the viewpoint of a minority owners of a foreign affiliate, b foreign taxing authorities, c home-country taxing authorities, d foreign-subsidiary managers, and e headquarters managers The pricing of intracompany transfers is complicated by many economic, environmental, and organizational considerations Identify six major considerations described in the chapter and briefly explain how they affect transfer pricing policy 10 Identify the major bases for pricing intercompany transfers Comment briefly on their relative merits Which measurement method is best from the viewpoint of the multinational executive?
S Internal Revenue Service alone in mandating such pricing of intracompany transfers? What are the advantages and disadvantages of entering into an APA? What tax considerations might affect your conclusions? Using the facts stated in Exercise 8, what would be the tax effects of the transfer pricing action if corporate income tax rates were 30 percent in Country A and 40 percent in Country B?
A report by the U. Do you agree that accountants and accounting firms share the blame for perpetuating poverty in the developing world? Why or why not? Assume that you agree that new policies are needed to improve the ability of Third World countries to increase their tax yields List policy recommendations that will achieve this result, and explain why you think these policies are needed report cites data that 45 to 50 percent of intracompany transfers are mispriced in Latin America and 60 percent are mispriced in Africa 38Christian Aid, The Shirts Off Their Backs: How Tax Policies Fleece the Poor September : 11—12 www.
S Government Accountability Office report, 60 percent of U. G — Do the Differences Really Matter? Case 3—2B , — E-Centives, Inc.
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International Accounting / Edition 7