国际会计第七版课后答案(第三章)
国际会计题答案
国际会计题答案《国际会计》第一章国际会计的形式与发展一、单项选择题1、国际会计成为一门新的会计学科，大致在（A）A 20世纪70年代B 20世纪60年代C20世纪90年代D20世纪50年代2、跨国公司兴起导致的独特的会计问题是（）A 国际物价变动影响的调整B 国际财务报表的合并C 外币报表的折算D 国际税务会计3、“四大”会计师事务所的业务扩展与委托人的联系使用的是（A）A 同一名称和同一语言B 不同名称和同一语言C 不同名称和不同语言D 同一名称和不同语言4、第一次国际会计师大会举行的时间、地点是（A ）A 1904年圣路易斯B 1952年伦敦C 1962年纽约D 1972年悉尼5、1977年于慕尼黑举行的第十一次国际会计师大会上创建的国际会计师联合会（IFAC）的前身是（A ）A 会计职业界国际协调委员会（ICCAP）B 国际会计准则委员会(IASC)C 国际审计事务委员会(IAPC)D 国际会计师大会技术委员会二、多项选择题1、国际会计的三大课题是（ABC ）A 国际物价变动影响的调整B 国际财务报表的合并C 外币报表的折算D 国际税务会计2、现有的国际性会计事务所（会计公司）中所谓的“四大”包括（A B C D ）A普华永道B毕马威国际C德勤D永安国际E安达信国际3、国内性质的会计师事务所为从事国际业务而进行的临时协作一般要通过哪些途径联系？（）A 国际性的职业届会议B 双方直接联系C 各国的执业会计师协会下设的国际联络委员会D 各国政府4、我国注册会计师考试的报考者的条件包括（AB ）A 具有大专或大专以上学历B 具有会计、审计、统计、经济中级或中级以上的专业技术职称C 有两年的会计师事务所工作经验D 必须是中国公民5、自1994年，我国已允许（ABCD）参加我国注册会计师统一考试。
A 我国大陆公民B 香港居民C 澳门居民3D 台湾居民E 外国籍公民（该国法律允许中国公民参加该国注册会计师考试）6、20世纪70年代国际会计的研究中，悲观主义者的“国别会计”观的主要观点包括（ABC ）A 各国会计的差异是各国不同的经济、政治、社会、法律、文化等环境影响所形成，不可能协调一致。
涉外会计第三章课后题答案
涉外会计第三章课后题答案11、资产负债表中资产的排列依据是（）。
[单选题] *A.项目重要性B.项目流动性(正确答案)C.项目时间性D.项目收益性企业财务会计12、资产负债表中“货币资金”项目中包含的项目是（）。
[单选题] *A.商业承兑汇票B.交易性金融资产C.银行承兑汇票D.银行本票存款(正确答案)企业财务会计13、以下项目中，属于资产负债表中流动负债项目的是（）。
[单选题] *A.长期借款B.长期应付款C.其他应付款(正确答案)D.应付债券企业财务会计14、某企业固定资财产帐户余额为3000万元，累计折旧帐户余额为900万元，固定资产减值准备帐户余额100万元，工程物资帐户余额200万元。
该企业资产负债表“固定资产”项目的金额应为（）万元。
[单选题] *A.3200B.3000C.2200D.2000(正确答案)15、我国利润表的格式为（）。
[单选题] *A.多步式(正确答案)B.单步式C.报告式D.账户式16、企业期末结账后，“无形资产”科目的余额为100万元，“累计摊销”科目的余额为20万元，“无形资产减值准备”的余额为10万元，资产负债表的“无形资产”项目的金额为（）万元。
[单选题] *A.100B.80C.70(正确答案)D.9017、能够反映企业一定期间经营成果，分析企业获利能力的报表是（）。
[单选题] *A.资产负债表B.利润表(正确答案)C.现金流量表D.所有者权益变动表企业财务会计18、在下列各项税金中，应在利润表的“税金及附加”项目反映的是（）。
[单选题] *A.车辆购置税B.消费税(正确答案)C.增值税D.所得税19、某企业从银行借入期限为3年的长期借款400万元，编制资产负债表时，此项借款应填入的报表项目是（）。
[单选题] *A.短期借款B.长期借款C.其他长期负债D.一年内到期的非流动负债(正确答案)20、资产负债表的下列项目中，只需要根据1个总分类帐户就能填列的项目是（）。
《国际结算》第三章 结算方式习题答案
一、名词解释汇款：是汇出行应汇款人的要求，以一定的方式将款项通过其国外代理行（汇入行）交付给收款人的结算方式。
电汇：是汇出行应汇款人的请求，用加押电报（cable）、电传(telex)或通过SWIFT报文给国外的汇入行（即分行或代理行）指示其解付一定款项给收款人的一种汇款方式。
顺汇：又称汇付法。
它是付款人主动将款项交给银行，委托银行采用某种结算工具支付给收款人的结算方式，由于资金流向与结算工具的传递方向相同，故称顺汇。
逆汇：也称出票法，是由收款人出具汇票，委托银行向国外的付款人收取一定金额的结算方式。
由于资金流向与结算工具的传递方向相反，故称逆汇。
跟单托收：是指伴随着货运单据的托收。
在国际贸易结算中，出口商将汇票连同货运单据交给银行，委托银行代为收款的一种托收方式。
承兑交单：是指代收行根据托收指示，在付款人承兑汇票后，即将单据交给付款人，汇票到期时付款人再付款的一种托收方式。
信托收据：是按照信托收据法的要求，借单者持有存货，受银行的委托销售存货。
货物所有权归银行所有，待货物售出后货款归还银行。
信用证：是开证银行根据申请人(进口商)的要求做出的在满足信用证要求和提交规定的单据的条件下,向受益人（出口商)做出的承诺在一定期限内支付一定金额的书面文件。
简言之，信用证是银行有条件的付款承诺。
议付：是指信用证指定的议付行在单证相符条件下，扣除议付利息后向受益人给付对价的行为。
信用证软条款:是开证申请人在信用证中设置的陷阱条款，它会使受益人获得单据受到限制甚，从而造成单证不符，安全收汇受到威胁，是一项具有极大隐蔽性的条款。
循环信用证：指信用证金额被使用后仍可恢复到原金额继续使用的信用证。
可转让信用证：是指注明“可转让”字样的信用证。
它是开证行授权转让行在原受益人的要求下，将信用证的执行权利(即装货、取款)转让给一个或数个第二受益人的信用证。
假远期信用证：是受益人开立远期汇票，经银行承兑后进行贴现而即刻得到票款的信用证。
国际会计课后题答案版
国际会计课后题答案版 Pleasure Group Office【T985AB-B866SYT-B182C-BS682T-STT18】第1章国际会计的形成与发展一、讨论题为什么说市场国际化，特别是货币市场和资本市场的国际化是会计国际化的主要推动力国际贸易和国际经济技术合作，促使会计成为一种国际商业语言。
特别是国际货币市场和资本市场的兴起向进入市场的贷款人或筹资者提出了应提供在国际间可比且可靠的财务信息的要求（即国际财务报告趋同化的要求），更成为会计国际化的主要推动力。
跨国公司是否在百分之百地推动会计国际化说明你的观点。
不是。
跨国公司对推动会计国际化有其两面性：一方面，基于其跨国经营和国际筹资的需要，他们希望通过会计国际化来缩小和协调国别差异；另一方面，他们又十分重视利用各国现存的会计差异来谋取财务利益。
后者也推动了各国会计模式和重要会计方法的国际比较研究。
（注意：“会计国际化”大体上与“会计的国际协调化”概念一致，而与国际会计研究中的“国别会计”观点对立）会计随商业活动的扩展而传播，你同意这种说法吗从历史发展的进程谈谈你的看法。
同意。
可主要就前殖民帝国的会计向其原殖民地传播、工业革命后西方会计的发展及在世界范围内的广泛传播以及第二次世界大战以后美国会计的影响在一定程度上主宰着世界各地的会计发展等历史事实，加以讨论。
哪些特定会计方法具有国际性质把外币交易和外币报表的折算引入会计领域，是会计国际化带来的独特问题。
它与由此引发的跨国企业合并和国际合并财务报表与外币折算相互关联和制约的问题，以及各国的物价变动影响在国际合并财务报表中如何处理和调整的问题，从20世纪70年代以来，就成为国际会计研究中既需协调一致但又矛盾重重的“三大难题”。
在世纪之交，金融工具（特别是衍生工具）的创新引发的会计处理问题，给传统的会计概念和实务带来了巨大的冲击，成为各国会计准则机构联合攻关、仍未妥善解决的难题。
此外，国际税务会计也是值得关注的课题。
会计学原理第三章课后答案
会计学原理第三章课后答案第三章3-1:练习借贷记账法的运用(一)编制会计分录:题号分录题号分录借:库存现金 300 借:银行存款 15,000 1 6 贷:银行存款 300 贷:短期借款15,000借:其他应收款 300 借:应付账款 12,000 2 7 贷:库存现金 300 贷:银行存款12,000借:应交税费 2,000 借:生产成本 16,000 3 8 贷:银行存款 2,000 贷:原材料16,000借:原材料 8,000 借:银行存款 2,900 4 9 贷:应付账款 8,000 贷:应收账款2,900借:固定资产 2,000 借:短期借款 9,000 5 10 贷:银行存款 2,000 贷:银行存款 9,000(二)开设并登记T型账(没有发生额的省略):借库存现金贷借银行存款贷期初余额 100 期初余额 18,0001、 3002、 300 6、 15,000 1、 3009、 2,900 3、 2,0005、 2,0007、 12,00010、 9,000本期发生额 300 本期发生额 300 本期发生额 17,900 本期发生额 25,300 期末余额 100 期末余额 10,600借应收账款贷借其他应收款贷期初余额 2,900 期初余额 1,0009、 2,900 2、 300本期发生额 2,900 本期发生额 300 期末余额 0 期末余额 1,300借原材料贷借生产成本贷期初余额 26,000 8、 16,000 4、 8,000 8、16,000 本期发生额 8,000 本期发生额16,000 本期发生额16,000 期末余额18,000 期末余额 16,000借固定资产贷借短期借款贷期初余额 450,000 期初余额 9,000 5、2,000 10、 9,000 6、 15,000 code certificate, tax registration certificate, legal persons or persons in charge of identity documents, articles of incorporation, verification report, credit card and other information; 2, the business unit financial information, including financial reports, accounting records, bank account statements, or the transaction flow, upstream and本期发生额 2,000 本期发生额 9,000 本期发生额 15,000 期末余额 452,000 期末余额 15,000借应付账款贷借应交税费贷期初余额 4,000 期初余额 2,000 7、 12,000 4、 8,000 3、 2,000本期发生额12,000 本期发生额 8,000 本期发生额 2,000期末余额 0 期末余额 0期初余额本期发生额期末余额账户名称借方贷方借方贷方借方贷方库存现金 100 300 300 100 银行存款 18,000 17,900 25,300 10,600 应收账款2,900 2,900 0 其他应收款 1,000 300 1,300 原材料 26,000 8,000 16,000 18,000 库存商品 10,000 10,000 生产成本 16,000 16,000 固定资产 450,000 2,000 452,000 短期借款 9,000 9,000 15,000 15,000 应付账款 4,000 12,0008,000 应交税费 2,000 2,000 实收资本 450,000 450,000 盈余公积 32,00032,000 本年利润 11,000 11,000合计 508,000 508,000 67,500 67,500 508,000 508,000第五章:练习账户按经济内容和用途结构分类经济内容资产负债所有者成本损益用途结构账户账户权益账户账户账户 1、盘存账户 5、9、20、22 2、结算账户 1、6 2、3、13 3、资本账户 11、16 4、跨期摊配账户 15 10 5、对外投资账户 23 6、集合分配账户 4 7、成本计算账户 18 8、集合配比账户 8、12、14、17 9、财务成果账户 7 10、计价对比账户 11、待处理账户 24 12、调整账户 19 21 code certificate, taxregistration certificate, legal persons or persons in charge of identity documents, articles of incorporation, verification report, credit card and other information; 2, the business unit financial information, including financial reports, accounting records, bank account statements, or the transaction flow, upstream andcode certificate, tax registration certificate, legal persons or persons in charge of identity documents, articles of incorporation, verification report, credit card and other information; 2, the business unit financial information, including financial reports, accounting records, bank account statements, or the transaction flow, upstream and。
国际会计 第1-3章习题
第1章国际会计的形成与发展1、你倾向于把国际会计定义为全球会计，还是国别会计？基本上肯定：（1）全球会计应该是最终目标；（2）国际财务报告趋同化已是国际货币市场和资本市场发展的现实需求；（3）会计的国别差异可能是难以完全磨灭的，但“求大同，存小异”则是必然的发展趋势；（4）为此，应该变以静态的观点研究国别会计为以动态的观点研究国别会计。
2、你赞成把国际会计等同于跨国公司与国外子公司之间的会计实务吗？不能完全等同。
虽然国际会计研究的课题几乎都与跨国公司经营活动的要求有关，但即使是跨国公司要求的国别会计的研究也发展成为世界会计模式的研究，而且带有宏观会计的性质，远远突破了跨国公司与国外子公司之间的会计实务研究的范畴。
此外，这种实务主义的观点也有损国际会计领域的理论研究。
3、通过调研，初步了解“四大”和其他国际会计师事务所进入我国会计市场的情况，以及我国较大型的国内会计师事务所应对“入世”后我国会计市场进一步对外开放的策略。
在过去十余年间，国际“五大”（安达信解体后为“四大”）和柏德豪、均富、浩华等第二层次的国际性会计师事务所已先后进入我国会计市场，或联合我国会计师事务所成立中外合作所，或发展国内事务所为其成员所，或开设办事处，经营国内公司在国际证券市场上市和B股在国内证券市场上市的审计业务。
合作所还能同时执行国内较大型事务所（具有从事证券业务资格的）从事的A股在国内证券市场上市的审计业务，且具有竞争优势。
我国加入WTO后，面临着全面开放A股审计业务的可能，这将构成国内大型事务所在业务竞争上的更大压力。
我国事务所必须全面提高执业能力和水平。
同时，证券监管部门应该同等地加强对国际性事务所的我国境内机构和我国的国内事务所的监督、管理和检查力度，开创和巩固会计市场上的公平、公开竞争的格局。
4、通过对国内出版的有关国际会计教材的浏览，比较它们的内容和各自的特点。
选择几本国内学者编著的教材或是国外学者编著的英语教材的汉语译本（或影印本），浏览其目录，即可发现：（1）有些教材偏重于国际会计诸问题的讲述，而且还包括财务会计和管理会计方面的内容，其中更多的内容属于财务会计；属于管理会计方面的内容的篇幅，在近年出版的教材中有增多的趋势；此外，也有的教材设专章讲述国际审计。
国际财务管理课后习题答案chapter 3
CHAPTER 3 BALANCE OF PAYMENTSSUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTERQUESTIONS AND PROBLEMSQUESTIONS1. Define the balance of payments.Answer: The balance of payments (BOP) can be defined as the statistical record of a country’s international transactions over a certain period of time presented in the form of double-entry bookkeeping.2. Why would it be useful to examine a country’s balance of payments data?Answer: It would be useful to examine a country’s BOP for at least two reaso ns. First, BOP provides detailed information about the supply and demand of the country’s currency. Second, BOP data can be used to evaluate the performance of the country in international economic competition. For example, if a country is experiencing per ennial BOP deficits, it may signal that the country’s industries lack competitiveness.3. The United States has experienced continuous current account deficits since the early 1980s. What do you think are the main causes for the deficits? What would be the consequences of continuous U.S. current account deficits?Answer: The current account deficits of U.S. may have reflected a few reasons such as (I) a historically high real interest rate in the U.S., which is due to ballooning federal budget deficits, that kept the dollar strong, and (ii) weak competitiveness of the U.S. industries.4. In contrast to the U.S., Japan has realized continuous current account surpluses. What could be the main causes for these surpluses? Is it desirable to have continuous current account surpluses?Answer: Japan’s continuous current account surpluses may have reflected a weak yen and high competitiveness of Japanese industries. Massive capital exports by Japan prevented yen from appreciating more than it did. At the same time, foreigners’ exports to Japan were hampered by closed nature of Japanese markets. Continuous current account surpluses disrupt free trade by promoting protectionistsentiment in the deficit country. It is not desirable especially when it is brought about by the mercantilist policies.5. Comment on the following statement: “Since the U.S. imports more than it exports, it is necessary for the U.S. to import capital from foreign countries to finance its current account deficits.”Answer: The statement presupposes that the U.S. current account deficit causes its capital account surplus. In reality, the causality may be running in the opposite direction: U.S. capital account surplus may cause the country’s current account deficit. Suppose foreigners fin d the U.S. a great place to invest and send their capital to the U.S., resulting in U.S. capital account surplus. This capital inflow will strengthen the dollar, hurting the U.S. export and encouraging imports from foreign countries, causing current account deficits.6. Explain how a country can run an overall balance of payments deficit or surplus.Answer: A country can run an overall BOP deficit or surplus by engaging in the official reserve transactions. For example, an overall BOP deficit can be su pported by drawing down the central bank’s reserve holdings. Likewise, an overall BOP surplus can be absorbed by adding to the central bank’s reserve holdings.7. Explain official reserve assets and its major components.Answer: Official reserve assets are those financial assets that can be used as international means of payments. Currently, official reserve assets comprise: (I) gold, (ii) foreign exchanges, (iii) special drawing rights (SDRs), and (iv) reserve positions with the IMF. Foreign exchanges are by far the most important official reserves.8. Explain how to compute the overall balance and discuss its significance.Answer: The overall BOP is determined by computing the cumulative balance of payments including the current account, capital account, and the statistical discrepancies. The overall BOP is significant because it indicates a country’s international payment gap that must be financed by the government’s official reserve transactions.9. Since the early 1980s, foreign portfolio investors have purchased a significant portion of U.S. treasury bond issues. Discuss the short-term and long-term effects of foreigners’ portfolio investment on the U.S. balance of payments.Answer: As foreigners purchase U.S. Treasury bonds, U.S. BOP will improve in the short run. But in the long run, U.S. BOP may deteriorate because the U.S. should pay interests and principals to foreigners. If foreign funds are used productively and contributes to the competitiveness of U.S. industries, however, U.S. BOP may improve in the long run.10. Describe the balance of payments identity and discuss its implications under the fixed and flexible exchange rate regimes.Answer: The balance of payments identity holds that the combined balance on the current and capital accounts should be equal in size, but opposite in sign, to the change in the official reserves: BCA + BKA = -BRA. Under the pure flexible exchange rate regime, central banks do not engage in official reserve transactions. Thus, the overall balance must balance, i.e., BCA = -BKA. Under the fixed exchange rate regime, however, a country can have an overall BOP surplus or deficit as the central bank will accommodate it via official reserve transactions.11. Exhibit 3.3 indicates that in 1991, the U.S. had a current account deficit and at the same time a capital account deficit. Explain how this can happen?Answer: In 1991, the U.S. experienced an overall BOP deficit, which must have been accommodated by the Federal Reserve’s official reserve action, i.e., drawing down its reserve holdings.12. Explain how each of the following transactions will be classified and recorded in the debit and credit of the U.S. balance of payments:(1) A Japanese insurance company purchases U.S. Treasury bonds and pays out of its bank account kept in New York City.(2) A U.S. citizen consumes a meal at a restaurant in Paris and pays with her American Express card.(3) A Indian immigrant living in Los Angeles sends a check drawn on his L.A. bank account as a gift to his parents living in Bombay.(4) A U.S. computer programmer is hired by a British company for consulting and gets paid from the U.S. bank account maintained by the British company.Answer:_________________________________________________________________Transactions Credit Debit_________________________________________________________________Japanese purchase of U.S. T bonds √Japanese payment using NYC account √U.S. citizen having a meal in Paris √Paying the meal with American Express √Gift to parents in Bombay √Receipts of the check by parents (goodwill) √Export of programming service √British payment out its account in U.S. √_________________________________________________________________13. Construct the balance of payment table for Japan for the year of 1998 which is comparable in format to Exhibit 3.1, and interpret the numerical data. You may consult International Financial Statistics published by IMF or research for useful websites for the data yourself.Answer:A summary of the Japanese Balance of Payments for 1998 (in $ billion)Credits DebitsCurrent Account(1) Exports 646.03(1.1) Merchandise 374.04(1.2) Services 62.41(1.3) Factor income 209.58(2) Imports -516.50(2.1) Merchandise -251.66(2.2) Services -111.83(3.3) Factor income -153.01(3) Unilateral transfer 5.53 -14.37Balance on current account 120.69[(1) + (2) + (3)]Capital Account(4) Direct investment 3.27 -24.62(5) Portfolio investment 73.70 -113.73(5.1) Equity securities 16.11 -14.00(5.2) Debt securities 57.59 -99.73(6) Other investment 39.51 -109.35Balance on financial account -131.22[(4) + (5) + (6)](7) Statistical discrepancies 4.36Overall balance -6.17Official Reserve Account 6.17Source: IMF, International Financial Statistics Yearbook, 1999.Note: Capital account in the above table corresponds with the ‘Financial account’ in IMF’s balance of payment statistics. IMF’s Capital account’ is included in ‘Other investment’ in the above table.MINI CASE: MEXICO’S BALANCE OF PAYMENTS PROBLEMRecently, Mexico experienced large-scale trade deficits, depletion of foreign reserve holdings and a major currency devaluation in December 1994, followed by the decision to freely float the peso. These events also brought about a severe recession and higher unemployment in Mexico. Since the devaluation, however, the trade balance has improved.Investigate the Mexican experiences in detail and write a report on the subject. In the report, you may:(a) document the tr end in Mexico’s key economic indicators, such as the balance of payments, the exchange rate, and foreign reserve holdings, during the period 1994.1 through 1995.12.;(b) investigate the causes of Mexico’s balance of payments difficulties prior to the peso devaluation;(c) discuss what policy actions might have prevented or mitigated the balance of payments problem and the subsequent collapse of the peso; and(d) derive lessons from the Mexican experience that may be useful for other developing countries.In your report, you may identify and address any other relevant issues concerning Mexico’s balance of payment problem.Suggested Solution to Mexico’s Balance-of-Payments ProblemTo solve this case, it is useful to review Chapter 2, especially the section on the Mexican peso crisis. Despite the fact that Mexico had experienced continuous trade deficits until December 1994, the country’s currency was not allowed to depreciate for political reasons. The Mexican government did not want the peso devaluation before the Presidential election held in 1994. If the Mexican peso had been allowed to gradually depreciate against the major currencies, the peso crisis could have been prevented.The key lessons that can be derived from the peso crisis are: First, Mexico depended too much on short-term foreign portfolio capital (which is easily reversible) for its economic growth. The country perhaps should have saved more domestically and depended more on long-term foreign capital. This can be a valuable lesson for many developing countries. Second, the lack of reliable economic information was another contributing factor to the peso crisis. The Salinas administration was reluctant to fully disclose the true state of the Mexican economy. If investors had known that Mexico was experiencing serious trade deficits and rapid depletion of foreign exchange reserves, the peso might have been gradually depreciating, rather than suddenly collapsed as it did. The transparent disclosure of economic data can help prevent the peso-type crisis. Third, it is important to safeguard the world financial system from the peso-type crisis. To this end, a multinational safety net needs to be in place to contain the peso-type crisis in the early stage.。
国际会计课后答案 重点
第一章导论2.会计可以被看做是包括三个部分：计量、披露和审计。
这种分类的优点和缺点是什么？你能提出其他有效的分类吗？Advantage: Some might argue that measurement, disclosure, and external auditing are three distinct (although related) processes, involving different members of the company. For example, corporate attorneys often are involved in disclosure issues, but seldom intervene in measurement ssues. The Board of Directors works with the external auditors but not necessarily with the comptroller s office. Thus, discussion of accounting requirements and voluntary accounting choices in different jurisdictions is simplified by focusing on the three components of accounting. Disadvantage: measurement, disclosure and auditing are interdependent, and should not be viewed in isolation of one another. A company choosing to disclose as little as possible, for example, may use accounting measurement approaches that reduce the information content of financial statements, and select an external auditor who will be relatively lenient in enforcing accounting requirements. One alternative classification might include accounting (measurement and disclosure), and auditing. A second classification might include financial reporting (annual and interim reporting, regulatory filings) and ad hoc disclosure (press releases, analyst meetings, etc). Any classification is arbitrary, and potentially useful depending on its purpose.优势：一些人可能认为测量，披露和外部审计是三个不同的（虽然相关）流程，涉及公司的不同成员。
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Chapter 3Comparative Accounting: EuropeDiscussion Questions1.Regulating and enforcing financial reporting is a government function in France. TheNational Accounting Board (CNC) and the Accounting Regulation committee (CRC) setaccounting standards under the jurisdiction of the Ministry of Economy and Finance. TheFinancial Markets Authority (AMF) ensures compliance with French accounting rules (forlisted companies). It is also a government agency.Public and private sector bodies are involved in the regulation and enforcement of financial reporting in Germany. The German Accounting Standards Board is a private sector body that develops German reporting standards for consolidated financial statements. However, German law (the HGB) governs financial statements at the individual company level. Enforcement also involves private and public sector bodies. The Financial Reporting Enforcement Panel is a private sector body that investigates compliance and relies on companies to voluntarily correct any problems that it finds. Matters that cannot be resolved are referred to the Federal Financial Supervisory Authority, a government agency, for final resolution.The regulation and enforcement of financial reporting is in the public sector in the Czech Republic. The Ministry of Finance is responsible for setting accounting principles and it also oversees the Czech Securities Commission which is responsible for enforcing compliance with Czech requirements. Some observers question the effectiveness of the Czech system.A private sector group is responsible for regulating financial reporting in the Netherlands. TheDutch Accounting Standards Board issues guidelines on acceptable accounting principles.Enforcement is handled by the Enterprise Chamber, a special accounting court. It rules on whether companies have used acceptable accounting practices, but only after an interested party has brought a complaint. The Financial Reporting Supervision Division of the Netherlands Authority for Financial Markets is responsible for enforcing reporting requirements for listed companies.Regulation of financial reporting is in the private sector in the United Kingdom. The Accounting Standards Board determines Financial Reporting Standards. The authority of the ASB is set out in the law. Two groups are responsible for enforcing financial reporting standards, one in the private sector and the other in the public sector. The Financial Reporting Review Panel (private sector) and the Department of Trade and Industry (public sector) can investigate complaints about departures from accounting standards. If necessary, they can go to court to force companies to revise its financial statements.2.Given the requirement that all EU listed companies must use International FinancialReporting Standards in their consolidated financial statements, all five countries follow fairpresentation principles for this group of companies’ financial statements. The differenceamong the countries comes with listed companies’ individu al financial statements and withnon-listed companies. The overall picture is quite confusing.At the individual company level, France and Germany require local accounting standards. Both can be characterized as legal compliance, conservative, and tax-driven. Individual companyfinancial statements in the Netherlands and United Kingdom may use either local requirements or IFRS. However, in either case the result is fair presentation financial statements. The Czech Republic requires IFRS in listed c ompanies’ individual company financial statements, so the result is that they are fair presentation. In all five countries, non-listed companies may use either IFRS or local accounting standards for their consolidated financial statements. As characterized above, the resulting financial statements will be quite different for German and French companies. Czech accounting standards are mostly fair presentation, but there is still some tax influence. Thus, the resulting financial statements can also be different depending on the choice that companies make. Finally, non-listed companies’ individual financial statements must be prepared under local accounting standards in the Czech Republic, France, and Germany. Local accounting standards or IFRS may be used by this group of companies in the Netherlands and United Kingdom.3.The recently established auditor oversight bodies discussed in this chapter are:a.France –Haut Conseil du Commissariat aux Comptes (High Council of ExternalAuditors)herlands – Netherlands Authority for Financial Marketsc.United Kingdom – Professional Oversight BoardThe oversight body in France is in a government agency, while the one in the U.K. is a private sector body. The Dutch body is an autonomous administrative authority under the Ministry of Finance. They are a response to recent accounting scandals and represent efforts to the tighten control over auditors.4. Tax legislation is a significant influence on local accounting requirements in France andGermany. It is unimportant in the Netherlands and United Kingdom. Tax legislation has limited influence in the Czech Republic. Given that Czech accounting is still evolving, tax law can be expected to fill in areas where accounting standards are missing.5. Consolidated financial statements are the statements of a group of companies under commonmanagement or control. Individual company financial statements are the statements of the separate legal entities (parent and subsidiaries) that make up the group. EU countries prohibit IFRS for individual company financial statements when these statements are the basis for taxation and dividend distributions. They are “legal compliance” countries (see Chapter 2) and individual company financial statements must comply with the law. Other countries permit or require IFRS for individual company financial statements because they are “fair presentation”countries (Chapter 2). Individual company financial statements are not the basis for taxation or dividends. Local accounting standards follow fair presentation principles.6. There is no conclusive evidence linking high levels of legal accounting and reportingrequirements in a country and corresponding high quality levels of financial reporting. It appears that high legal requirements (for example, in France and Germany) lead to a certain amount of professional or bureaucratic inertia and form over substance thinking in financial reporting. Indeed, countries with significant state regulation of accounting and accountants are generally not among the innovative accounting leadership countries. If anything, comparatively high levels of legal requirements appear to depress the overall quality of reporting.7.This quote paraphrases a statement in the preamble to the charter establishing the GermanAccounting Standards Committee. We agree. Private sector initiatives (self-regulation) have。