第一章国际会计练习doc.docVIP

CHAPTER 1 Introduction Discussion Questions Explain how international accounting differs from purely domestic accounting. Accounting may be viewed as having three components: measurement,disclosure, and auditing.What are the advantages and disadvantages of this classification? Can you suggest alterative classifications that might be useful? What contemporary factors are contributing to the internationalization of the subject of accounting. Describe in two short paragraphs how foreign direct-investment activities differ from international trade and the implications of this difference for accounting. Given the international heritage of accounting,do you feel that efforts to harmonize global accounting standards is a good thing? Why or why not? Why have international accounting issues grown in importance and complexity in recent years? Identify several intenal and external reporting issues that arise when business and investments transcend national borders. Explian the term “global capital markets”.This chapter primarily discusses global equity markets.What other types of financial instruments are traded in these markets?How important are global capital markets in the world economy? Some have advocated that a single widely spoken language be designated as the formal international accounting language.Write a two-paragraph statement in favor of choosing English as the designated language. 10Capital markets often are grouped into two categories: those in developed countries and those in emerging market countries.Given your own definitions of developed and emerging market countries.Which stock exchanges shown in Appendix 1-3 are in emerging market countries?What characteristics do they share? 11Appendix 1-1 shows that over time,national governments in many countries sold shares in state-owned financial institutions to nongovernmental entities.Discuss how these privatizations might affect the capital markets as well as the accounting systems of these companies. 12Outsourcin