国际会计学第六版chapter1
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1国际会计(第一章总论)
国际会计 7
2019/3/25
南海公司事件
• 1710年，英国南海公司以发展南大西洋的贸易为名，获得了 专卖非洲黑奴到西班牙、美洲的30年垄断权。1720年初，南 海公司得到英国议会批准，把国家公债1000万英镑换作股票。 从此公司股票价格飞涨，一系列虚假的计划随之出台。但好 景不长，几个月后南海公司突然宣告破产，使广大股东和债 权人损失惨重。英国议会迫于压力，宣布对南海公司进行审 计，并聘请了当时有名的伦敦会计学校的教师斯耐尔先生执 行审查。对南海公司进行审计的斯耐尔先生成为世界上第一 位注册会计师。斯耐尔先生以“会计师”的名义提出了“查 账报告书”，从而宣告了独立会计师---注册会计师的诞生。 • 第一个注册会计师：英国的查尔斯•斯耐尔 • 第一个注册会计师专业团体：爱丁堡会计师协会 （返回）
此时，投资者需要了解有关外国公司的财务状况和经营成果， 以评估跨国投资风险并作出适当的给境外投资者 阅读和使用财务报告造成极大困难，不利于跨国投资 者的决策。因此，国际会计就成为适应国际投资活动 加速发展和促进全世界范围资本流动的一个必要工具。
2019/3/25
会计具有国际性----- “会计的历史是一种国际性 的历史”------（乔伊和缪勒）
目录
2019/3/25 国际会计 5
卢卡－巴其阿勒： 《关于算术、几何、比及比例概要》
• 该著作由五个论题组成： a 代数和算术 b 它们在商业中的应用 c 簿记 d 货币和兑换 e 纯粹几何学和应用几何学 • 在这部著作中未提出资产负债表和损益表的编制
因此，加强跨国公司内部经营管理，有效地规范监 督跨国公司经营活动，都有必要研究和协调不同国家 的会计和报告实务，从而成为国际会计产生的一个直 接诱因。
2019/3/25 国际会计 22
2019/3/25
南海公司事件
• 1710年，英国南海公司以发展南大西洋的贸易为名，获得了 专卖非洲黑奴到西班牙、美洲的30年垄断权。1720年初，南 海公司得到英国议会批准，把国家公债1000万英镑换作股票。 从此公司股票价格飞涨，一系列虚假的计划随之出台。但好 景不长，几个月后南海公司突然宣告破产，使广大股东和债 权人损失惨重。英国议会迫于压力，宣布对南海公司进行审 计，并聘请了当时有名的伦敦会计学校的教师斯耐尔先生执 行审查。对南海公司进行审计的斯耐尔先生成为世界上第一 位注册会计师。斯耐尔先生以“会计师”的名义提出了“查 账报告书”，从而宣告了独立会计师---注册会计师的诞生。 • 第一个注册会计师：英国的查尔斯•斯耐尔 • 第一个注册会计师专业团体：爱丁堡会计师协会 （返回）
此时，投资者需要了解有关外国公司的财务状况和经营成果， 以评估跨国投资风险并作出适当的给境外投资者 阅读和使用财务报告造成极大困难，不利于跨国投资 者的决策。因此，国际会计就成为适应国际投资活动 加速发展和促进全世界范围资本流动的一个必要工具。
2019/3/25
会计具有国际性----- “会计的历史是一种国际性 的历史”------（乔伊和缪勒）
目录
2019/3/25 国际会计 5
卢卡－巴其阿勒： 《关于算术、几何、比及比例概要》
• 该著作由五个论题组成： a 代数和算术 b 它们在商业中的应用 c 簿记 d 货币和兑换 e 纯粹几何学和应用几何学 • 在这部著作中未提出资产负债表和损益表的编制
因此，加强跨国公司内部经营管理，有效地规范监 督跨国公司经营活动，都有必要研究和协调不同国家 的会计和报告实务，从而成为国际会计产生的一个直 接诱因。
2019/3/25 国际会计 22
国际会计学第六版cha
Terminology 6.2 BANKGROUND AND TERMINOLOGY(P127-129)
• Conversio n
• Translation
• Act of exchanging • one type of
money • or security for • another
It is simply a change in monetary expression.
Spot & Foward exchange rate
Bid quote 买方出价
• Is what the foreign exchange dealer would pay you for foreign currency.
ask quote 卖方报价
• Is the rate at which the dealer would sell you foreign currency.
currency translation differ from the
current rate method? What is the relationship between
currency translation and inflation?
Why do Firms Translate? 〔P127〕
Types of Transaction Rates
Spot transactions: the physical exchange of one currency for another in which delivery takes place immediately. 〔P128〕
Factors:
Learning Objectives
国际会计学第六版chapter课件
Have a basic understanding of the following selected corporate financialdisclosure practices: (a) disclosures of forward-looking information, (b) segment disclosures, (c) social responsibility reporting, (d) special disclosures for nondomestic financial statement users, and (e) corporate governance disclosures.
3
Development of Disclosure
Voluntary disclosure
Voluntary disclosures are increasing as investors demand more detailed and timely information.
But managers’ incentives for disclosure aren’t always aligned with those of investors.
International Accounti. Meek
Chapter 5: Reporting and Disclosure
1
Learning Objectives
Distinguish voluntary and mandatory disclosure and the applicable regulatory measures.
Disclosure regulations and third party certification can improve the functioning of capital markets.
3
Development of Disclosure
Voluntary disclosure
Voluntary disclosures are increasing as investors demand more detailed and timely information.
But managers’ incentives for disclosure aren’t always aligned with those of investors.
International Accounti. Meek
Chapter 5: Reporting and Disclosure
1
Learning Objectives
Distinguish voluntary and mandatory disclosure and the applicable regulatory measures.
Disclosure regulations and third party certification can improve the functioning of capital markets.
国际会计学第六版chapter1共24页文档
Choi/Meek, 6/e
5
Contris international heritage
Double-entry originates in the Italian city states.
Bookkeeping spreads to Germany and assists the spread of capitalism.
What is meant by the term, global capital markets, and what does development mean for capital market participants?
Choi/Meek, 6/e
2
What is International Accounting?
Domestic accounting: an information specialty providing information about a firm to users of that information as a basis for economic decisions.
Choi/Meek, 6/e
Dutch enhance income measurement.
Choi/Meek, 6/e
6
French use accounting for governmental planning and control.
Double entry assists the British in managing and controlling commercial interests in the colonies.
Consolidation of foreign accounts Accounting for foreign currency fluctuations Accounting for changing prices International planning and control Performance evaluation of foreign operations Financial risk management International taxation and transfer pricing
国际会计学第六版chapterPPT课件
Spot transaction: occurs when an enterprise purchases or sells goods for which payment is made in a foreign currency, or when it borrows or lends foreign currency.
Direct quote: the exchange rate specifies the number of domestic currency units needed to acquire a unit of foreign currency.
Indirect quote: the exchange rate specifies
At the transaction date, each asset, liability, revenue, and expense denominated in a foreign currency is measured and recorded in the functional currency of the reporting entity at the spot exchange rate in effect on that date.
Facilitates the measurement of a firm’s exposure to foreign exchange risk.
Choi/Meek, 6/e
4
Facilitates the recording of foreign currency transactions; i.e., foreign currency sales, purchases, borrowing or lending in the consolidated entity’s reportingifference between a spot, forward, and swap transaction?
Direct quote: the exchange rate specifies the number of domestic currency units needed to acquire a unit of foreign currency.
Indirect quote: the exchange rate specifies
At the transaction date, each asset, liability, revenue, and expense denominated in a foreign currency is measured and recorded in the functional currency of the reporting entity at the spot exchange rate in effect on that date.
Facilitates the measurement of a firm’s exposure to foreign exchange risk.
Choi/Meek, 6/e
4
Facilitates the recording of foreign currency transactions; i.e., foreign currency sales, purchases, borrowing or lending in the consolidated entity’s reportingifference between a spot, forward, and swap transaction?
国际会计学第六版cha(1)
Choi/Meek, 6/e
2
Have a basic working knowledge of accounting classifications and how they compare with one another.
Explain the difference between the “fair presentation” and “legal compliance” orientations of accounting and identify nations in which each is prevalent.
Choi/Meek, 6/e
5
Development
Sources of finance – who, how many, how close? Equity markets
Profits measure how well managers have run the company.
Accounting is used to assess cash flows, risks, and to value the firm.
Choi/Meek, 6/e
9
Political and economic ties
Accounting ideas and technologies are transferred through conquest, commerce, and other forces.
Inflation
Extensive disclosures.
Banks
Conservative earnings for creditor protection. Less extensive disclosures.
国际财务管理第六版中文版第一章
114其他目标发生在安然世通和环球电讯等公司的一系列丑闻中公司管理人员在监管不力的情况下以牺牲股东利益为代价追求个人利益这些灾难使人们沉重认识到公司治理的重要性也就是说建立一种监控公司管理层和股东之间关系的财务法律架构
国际财务管理
Sixth Edition
EUN / RESNICK
1-0
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
1-5
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
What’s Special about “International” Finance?
市场不完全Market Imperfections 法律限制商品、人员和资本的跨国自由流动 交易成本 运输成本 税收套利 有人甚至说，跨国公司是市场不完全所带来的 礼物。
国际财务管理的目标
本书的重点在于使读者具备全球管理人员的知 识储备。—but what goal should this effective global managhareholder wealth? or Other Goals?
Currency futures and options Multi-currency bonds Cross-border stock listings International mutual funds
1-17
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
国际财务管理
Sixth Edition
EUN / RESNICK
1-0
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
1-5
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
What’s Special about “International” Finance?
市场不完全Market Imperfections 法律限制商品、人员和资本的跨国自由流动 交易成本 运输成本 税收套利 有人甚至说，跨国公司是市场不完全所带来的 礼物。
国际财务管理的目标
本书的重点在于使读者具备全球管理人员的知 识储备。—but what goal should this effective global managhareholder wealth? or Other Goals?
Currency futures and options Multi-currency bonds Cross-border stock listings International mutual funds
1-17
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
国际会计学第六版chapter-2
Reveals what group members have in common, and What distinguishes groups from each other
5
Choi/Meek, 6/e
Development
Sources of finance – who, how many, how close? Equity markets
Choi/Meek, 6/e
8
Development (contin)
Taxation
Must companies record revenues and expenses in their accounts to claim them for tax purposes?
Are financial accounting and taxation the same? Or are they different?
Choi/Meek, 6/e
14
Development (contin)
Linking the two:
Choi/Meek, 6/e
15
Classification
Four approaches to accounting development (Mueller 1967)
Macroeconomic approach
Choi/Meek, 6/e
4
Classification
Helps understand why and how national accounting systems differ. Helps analyze whether these systems are converging or diverging. Are a way of viewing the world.
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Choi/Meek, 6/e
12
•Financial innovation
Identifying potential market risks Quantifying trade-offs associated with
alternative risk reduction strategies Measuring risk exposures Accounting for specific hedge products Evaluating the effectiveness of hedging
Choi/Meek, 6/e
4
International accounting (defined): same as above except that the firm being reported on is a multinational company with operations and transactions that cross national boundaries or an entity with reporting obligations to non-domestic readers.
programs
Choi/Meek, 6/e
13
Contributing Factors (contin)
Global competition
Competitive benchmarking necessitates international comparisons.
Choi/Meek, 6/e
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Choi/Meek, 6/e
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Contributing Factors (contin)
Cross-border mergers and acquisitions
Corporate valuation is a function of accounting measurements that vary from country to country.
Choi/Meek, 6/e
16
Choi/Meek, 6/e
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Contributing Factors (contin)
Reporting issues associated with internationalization of capital markets
How to analyze and interpret foreign accounts? How to report to foreign readers? How to harmonize reporting standards
Consolidation of foreign accounts Accounting for foreign currency fluctuations Accounting for changing prices International planning and control Performance evaluation of foreign operations Financial risk management International taxation and transfer pricing
Choi/Meek, 6/e
6
Contributing Factors
Accounting’s international heritage
Double-entry originates in the Italian city states.
Bookkeeping spreads to Germany and assists the spread of capitalism.
International Accounting, 6/e Frederick D.S. Choi Gary K. Meek
Chapter 1: Introduction
Choi/Meek, 6/e
1
Learning Objectives
How is international accounting distinct from domestic accounting?
internationally?
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Other Chapter Exhibits
Choi/Meek, 6/e
19
Chapter Exhibits (contin)
Choi/Meek, 6/e
20
Chapter Exhibits (contin)
Choi/Meek, 6/e
Dutch enhance income measurement.
Choi/Meek, 6/e
7
French use accounting for governmental planning and control.
Double entry assists the British in managing and controlling commercial interests in the colonies.
9
Contributing Factors (contin)
Growth and spread of multinational operations
Choi/Meek, 6/e
10
Choi/Meek, 6/e
11
Contributing Factors (contin)
Reporting issues when business transcends national boundaries
Choi/Meek, 6/e
5
What Does International Accounting Diversity Entail?
Measurement principles Financial disclosure (corporate transparency) Auditing practices
Choi/Meek, 6/e
2
What external and internal reporting issues arise when business and investing transcend national borders?
What is meant by the term, global capital markets, and what does development mean for capital market participants?
Choi/Meek, 6/e
3
What is International Accounting?
Domestic accounting: an information specialty providing information about a firm to users of that information as a basis for economic decisions.
Accounting plays a major role in the U.S. industrial revolution.
Choi/Meek, 6/e
8
Contributing Factors (contin)
Paradox of international accounting
In many countries, accounting remains a nationalistic affair.
Accounting serves people and institutions whose decisions are international in scope.
Accounting diversity creates a demand for harmonization.
Choi/Meek, 6/e
21
Chapter Exhibits (contin)
Choi/Mts (contin)
Choi/Meek, 6/e
23
What does international accounting diversity entail?
Does international accounting have a history?
What factors are contributing to the importance of international accounting as a field of study?
E.g., the e in p/e valuation multiples.
Internationalization of capital markets
Raising external finance abroad means that financial reports must increasingly travel internationally.