Questions from International Accounting

Q: Identify several internal and external reporting issues that arise when business and

Identify several internal and external reporting issues that arise when business and investments transcend national borders.

Q: Auditor oversight bodies have recently been established in several countries discussed in

Auditor oversight bodies have recently been established in several countries discussed in this chapter. Identify the auditor oversight bodies discussed in the chapter. What is the reason for this rece...

Q: What is the difference between principlesbased and rules-based accounting standards

What is the difference between principlesbased and rules-based accounting standards? What evidence indicates that U.S. GAAP is rules-based?

Q: U.S. financial statements “present fairly,” while U

U.S. financial statements “present fairly,” while U.K. financial statements are “true and fair.” What is the difference between these two concepts?

Q: Mexican companies traditionally guarded their information and were secretive in their financial

Mexican companies traditionally guarded their information and were secretive in their financial reporting. What evidence is there that Mexican companies are becoming less secretive?

Q: What was the reason for Japan’s Big Bang, and what changes

What was the reason for Japan’s Big Bang, and what changes in accounting practice have resulted from it?

Q: What important features of accounting and reporting are necessary to develop an

What important features of accounting and reporting are necessary to develop an efficient stock market with fair trading? How likely is it that China will develop such a stock market? Why do you say s...

Q: China’s aim is to develop accounting standards that are harmonized with international

China’s aim is to develop accounting standards that are harmonized with international practices. Cite some examples indicating that Chinese accounting standards are consistent with “world class” pract...

Q: What evidence is there of British influence on accounting in India?

What evidence is there of British influence on accounting in India?

Q: Compare and contrast the mechanisms for regulating and enforcing financial reporting in

Compare and contrast the mechanisms for regulating and enforcing financial reporting in the five countries discussed in this chapter.