国际会计第七版课后标准答案(第四章)__作者：弗雷德里克

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国际会计答案

国际会计答案第一章国际会计的形成和发展1。

讨论主题1.1为什么说市场，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驱动力？国际贸易和国际经济技术合作促进了会计成为国际商业语言。

特别是国际货币市场和资本市场的兴起，对进入市场的贷款人或融资人提出了提供具有国际可比性和可靠性的财务信息的要求(即国际财务报告趋同的要求)，成为会计国际化的主要驱动力。

1.2跨国公司100%促进会计国际化吗？解释你的观点不跨国公司推进会计国际化有两个方面:一方面，它们希望根据跨国经营和国际融资的需要，通过会计国际化来缩小和协调国家差异；另一方面，他们也非常重视利用各国现有的会计差异来寻求财务利益后者还促进了各国会计模式和重要会计方法的国际比较研究。

(注:“会计国际化”一般与“会计国际协调”的概念一致，与国际会计研究中的“国家会计”观点相反)1.3会计随着业务活动的扩大而扩展。

你同意这个说法吗？从历史发展过程谈一谈你的看法同意我们可以主要讨论历史事实，如会计从前殖民帝国向其前殖民地的传播，工业革命后西方会计的发展及其在世界上的广泛传播，以及第二次世界大战后美国会计的影响，这在一定程度上主导了世界各地会计的发展。

1.4哪些具体会计方法具有国际性质？将外币交易和外币报表转换引入会计领域是会计国际化带来的一个独特问题。

——4——自XXXX时代以来，它已成为国际会计研究中的“三大难题”，涉及并局限于跨国企业合并、国际合并财务报表和外币折算，以及如何应对和调整国际合并财务报表中各国价格变动的影响。

世纪之交，金融工具(尤其是衍生工具)创新引发的会计处理问题给传统会计观念和实务带来了巨大冲击，成为各国会计准则机构在共同研究中尚未妥善解决的难题。

此外，国际税务会计也是一个值得关注的话题1.5您如何看待会计国际化与国有化之间的矛盾及其消长？会计国际化与国有化之间的矛盾，实际上反映了经济全球化与各国国家利益及其兴衰过程之间的矛盾。

可以说，会计根植于各国的政治、经济、意识形态、文化等社会因素，会计的民族特征不能完全抹杀。

国际会计第七版英文版课后答案（第十二章）

Chapter 12International Taxation and Transfer PricingDiscussion Questions1.Tax neutrality means that taxes have no (are neutral in their) effect on business decisions. In otherwords, business decisions are driven by economic fundamentals instead of taxes. Such decisions should result in an optimal allocation of resources. However, taxes have the potential to divertthis allocation of resources. Taxes are seldom neutral.Governments often use taxes for social purposes. This is not necessarily bad. For example,countries can use tax breaks to attract business investment, thereby promoting economic growth.Chapter 12 discusses harmful tax competition, a concern of both the OECD and EU. The concern is that some countries (tax havens) use taxes as an unfair competitive tool, depriving othercountries of taxes needed to support their infrastructure and government services. Transactionsare funneled through tax havens merely to avoid taxes; they have no real business purpose.Students should have fun debating whether this is good or bad.2.The types of taxes discussed in the book are:a.Income tax. Tax bases and tax rates vary from country to country. The effective tax rateis what is important, not the nominal rate.b.Withholding tax. These are withholdings on interest, dividend and royalty payments toinvestors.c.Value-added tax. This is a consumption tax popular in Europe and Canada. The tax islevied on each stage of production or distribution based on the incremental value added atthat stage. Companies that pay the tax in their own costs reclaim them later from the taxauthorities. Consumers ultimately bear the cost of this tax.d.Border tax. This is a customs or import duty.e.Transfer tax. This is a tax on the transfer of items between taxpayers.The two most common taxes are the income tax and the border tax.Philosophies of taxation vary with the types of taxes, since ultimately the question is who pays and how much. In the case of income taxes, philosophies vary as to whether income earned outside the country’s borders should be taxed (territorial versus worldwide).3.Tax credits reduce a business entity’s income tax liability dollar for dollar. The purpose of thesecredits in international taxation is to insure that profits earned abroad are not subject to doubletaxation. Accordingly, the country in which a parent company is domiciled will generallyrelinquish taxes on income earned abroad up to the amount of the foreign tax.Tax credits may fall short of their intended results because of how taxable income is definedunder domestic and foreign tax laws. The treatment of expenses is a case in point. Under U.S.law, for example, business expenses attributable to foreign source income must be so allocated in determining the foreign tax credit limitation. Distortions occur when the deduction is not allowed in determining taxable income in the foreign country. The result is usually an overstatement ofthe total amount of taxes paid and excess foreign tax credits recognized. Additional distortionsrelate to national differences in defining income sources and timing differences in the recognition of income and expenses.4.Tax Rate System Advantages DisadvantagesClassical Ease of administration Double taxation of corporateincomeSplit Rate Relief from double taxationprovided at the company level Higher tax rates on undistributed profits reduces the attractiveness of retained earnings as a financing sourceTax Credit Relief from double taxationprovided at the shareholderlevel If tax credit is denied foreign shareholders, investing across national boundaries becomes less attractive5.National differences in tax rates are indeed the least significant determinants of a company’seffective tax burden. The key term here is effective. While statutory tax rates define acompany’s nominal tax burden, this seldom indicates its effective tax burden. Widespreaddifferences in tax administration systems, allowable deductions, rates of depreciation allowances, tax credits, tax treaties, special tax incentives offered by foreign governments, and many indirect taxes (including deficient social overhead services in some low-tax countries) are some factors that affect real tax burdens on MNCs.6.Student responses to this question will naturally vary. Some will argue that multinationaloperations abroad are merely guests of their national hosts. Given the visibility and political sensitivity of their positions, therefore, these firms should fully disclose their earnings picture to local tax authorities and pay whatever taxes are called for. However, others will argue that the competitive position of the multinational corporation will be jeopardized if it does not emulate the tax evasion practices of its local corporate peers. Furthermore, since business ethics are colored by the cultural and social fabric of each individual nation, it is presumptuous for a multinational to impose its domestic mores in an environmental context where they may not be appropriate.7.Transfer pricing is a natural consequence of the decentralization of business organizations.Interactions between units of a decentralized system require the establishment of prices at which goods or services can be transferred among operating divisions. In a purely domestic setting, transfer pricing policy assures (a) a measure of performance that reflects a subunit’s use ofresources and (b) the optimal allocation of enterprise resources.Transfer pricing has assumed a more strategic role in management policy with multinational operations. Many MNCs use transfer prices to (a) reduce or hedge environmental risks, (b)develop favorable tax postures overseas, (c) support the competitive position of selected foreign subsidiaries, and (d) circumvent restrictions on fund movements between national boundaries. 8.(a) Transfer pricing objectives of a multinational company often produce results that directlyconflict with the objectives of a foreign affiliate’s minority shareholders. While the minority shareholders want maximum dividends, transfer prices may be designed to minimize theaffiliate’s income and thus its ability to pay dividends. (b and c) Both domestic and foreign tax authorities are interested in enacting laws and regulations to counteract pricing techniquesdesigned to minimize taxable income. Tax authorities want to claim their fair share of taxes. (d) Managers of foreign affiliates should be concerned because the manipulation of transfer prices destroys the usefulness of subsidiary profits as a measure of their performance. (e) Finally,headquarters managers are vitally concerned with the acceptability of their transfer prices togovernments where they do business. The cost of evoking the wrath of host governments who find transfer prices to be objectionable can far exceed any system-wide benefits that transferprices can achieve. Headquarters should also be concerned if transfer pricing distortsperformance measures because this can cause managers to behave dysfunctionally.9.Considerations that complicate the administration of transfer pricing systems internationallyinclude (but are not limited to) the following:a.Tax considerations -- to minimize its global tax bill, a multinational entity might raise(lower) the transfer prices of goods shipped from affiliates located in low-tax (high-tax)countries.b.Tariff considerations -- to minimize foreign tariffs, a firm can lower (raise) transfer priceson goods shipped to high (low) tariff countries.petitive considerations -- a local affiliate’s competitive position can be improved if itis charged low transfer prices on goods imported from a parent or manufacturing affiliate.d.Foreign inflation -- a parent company may raise transfer prices on goods shipped to anaffiliate located in a highly-inflationary country to minimize local funds subject to thatcountry s inflation.e.Foreign exchange risk -- to minimize foreign exchange risk, a parent may raise transferprices to an affiliate located in a devaluation prone country to move exposed assets to amore stable environment.f.Performance evaluation considerations -- to evaluate the performance of a foreign cost(service) center, a parent company might use transfer pricing to give the affiliate arevenue stream. This would enable the parent to evaluate the affiliate with traditionalprofitability measures.10.Transfer prices are generally based on market price or some variant of cost. Among theadvantages of using market prices are that they (a) encourage the efficient allocation of corporate resources, (b) provide meaningful criteria for performance evaluation, (c) assist in identifying profitable and unprofitable units, and (d) are easy to defend as arm’s-length prices to hostgovernments. Cost-based transfer pricing systems also have many advantages in that they are (a) simple to use, (b) based on readily available data, (c) easy to verify before tax authorities, and (d) easily routinized.The overall competitive and financial position of the MNC is a major consideration ininternational transfer pricing policy. Accordingly, a cost-based transfer pricing system is best from the viewpoint of headquarters management. The flexibility afforded by cost-based transfer prices (i.e., transfer prices can be adjusted by changing the cost base itself or markups on cost) is especially important in helping MNCs to cope with the many environmental risks and constraints which affect their international affairs. However, while cost-based transfer pricing systemspromise greater flexibility, increasing governmental scrutiny of transfer pricing decisions will undoubtedly limit their flexibility.11.An arm’s-length price is one that would have been paid to an unrelated party for the same orsimilar goods under identical or similar circumstances. The United States is not alone inmandating that international transfer prices be based on an arm’s-length price. As the chapter points out, many countries have enacted legislation giving their tax authorities the right toreallocate gross income, deductions, credits or allowances to prevent tax evasion or to moreclearly reflect the proper allocation of income.While the notion of an arm’s-length price provides a conceptual foundation on which to basetransfer prices, it is less than definitive in practical application. Accordingly, application of thearm’s-length principle is far from uniform internationally. Surveys of existing corporate transfer pricing practices reveal a variety of pricing modes often based on professional judgment andapproximation.12.Advance pricing agreements (APAs) are a negotiated agreement between a multinational and ataxing authority on an acceptable transfer pricing methodology. The APA is binding on bothparties for a fixed period of time. The main advantage of an APA is that transfer pricing conflicts can be eliminated or reduced, saving time and money for both the multinational and the taxingauthority. The certainty of transfer pricing treatment makes long-term strategic planning easierfor the multinational. The disadvantage is that the parties are locked in to the agreement, which can be a problem if circumstances change. Of course, time and effort are also needed to achieve the APA.Exercises1.At first blush, Company X promises the better performance as it has a higher pre-tax income.However, a closer examination shows that both companies promise identical after-tax returns. A return on sales of 12.0% yields after-tax earnings of $72 million (12% X $600 million) for both companies. Comparative income statements based on the ratios provided are ($ millions):Company X Company YSales 600600Operating expenses 480528Pre-tax income 12072Income taxes 48-0-Net income7272Thus, it appears that Country X has a 40% income tax rate. Country Y’s indirect taxes are buried in operating expenses. Moral: when comparing company investment performance, focus on after-tax returns.pany X is the better investment because the investor in Country Z is probably not entitled toa foreign tax credit for indirect taxes paid. This is illustrated below.Country X Country YPre-tax earnings $120.00 $72.00Income tax (40%) 48.00 -0-After-tax earnings72.00 72.00Country Z’s investment income:Dividends 36.00 36.00Gross-up forforeigntaxes paid(36/72 x 48 ) 24.00 -0-60.00 36.00Income tax (35%) 21.00 12.60- Foreign taxCredit a(24.00) (-0-)Income tax -0-12.60After-tax return 36.00 23.40a Excess tax credits can be carried back 1 year and forward 10 years.3.There are no taxes paid on these transactions. China and Australia tax corporate income (Exhibit12-2) but the subsidiaries there have no profits. The entire profit is in the Cayman Islandssubsidiary, where there is no corporate income tax.As discussed in the chapter, the Cayman Islands subsidiary would seem to be a brass plate subsidiary with no real work or employment attached to it. Such subsidiaries lack substantialactivities and merely funnel financial transactions through the tax haven country to avoid another country s taxes. The company involved is doing nothing illegal. The issue for the taxingauthorities of Australian and China is whether the company is paying its fair share of theirrespective national taxes. These taxing authorities might tax passive income or adjust the transfer pricing arrangement so that they capture some income tax. These are the implications for thecompany and the taxing authorities involved.4.Subpart F foreign base company income = $4,000,000 x U.S. tax at 35% =- Tax credit for foreign taxes paid($4,000,000 x 17.5%)Net U.S. taxes due $4,000,000 1,400,000 700,000 $ 700,000Students must refer to Exhibit 12-2 for the U.S. tax rate of 35%.5.Value added including tax (4,000 – 2,400) = 1,600 Value added excluding tax (1,600 ÷ 1.175) = 1,362 Value added tax (17.5% x 1,362) = 2386.Classical SystemCorporate income SEK1,500,000- Income tax (28%) 420,000= Net income 1,080,000 Dividend SEK540,000 Income to shareholder SEK540,000- Personal income tax (40%) 216,000=Net income SEK324,000 Total taxes paid:Corporate SEK420,000Individual 216,000Total SEK636,000Country A Country B Country C Country D Royalty paid $20.00Branch earnings $90.00Dividend paid $27.00 $27.00 Foreign withholding tax(10%)2.00 2.70 -0-Net payment to Alubar $18.00‗_‗‗‗‗‗‗‗‗‗‗$24.30‗‗‗‗‗_$27.00‗‗‗‗‗‗U.S. income $20.00 $90.00 $27.00$27.00 Dividend gross-up(27.00/54.00 x 36) ____________ 18.00 -0-Taxable income $20.00 $90.00 $45.00$27.00 U.S. tax (35%) 7.00 31.50 15.75 9.45 Foreign tax creditPaid (2.00) (18.00) (2.70) -0-Deemed paid(27.00/54.00 x 36) __________(18.00)_____ Total (2.00) (18.00) (20.70) -0-U.S taxes — net 5.00 13.50 ( 4.95) 9.45 Foreign taxes 2.00 18.00 20.70 36.00 Total taxes 7.00 31.50 15.75 45.45Low Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,000 $1,700 $1,700 Cost of sales 600 1,000 600 Gross margin 400 700 1,100 Operating expenses 100 100 200Pre-tax income 300 600 900 Income tax (35%) 105210 315Net income $ 195 $ 390 $ 585High Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,200 $1,700 $1,700 Cost of sales 600 1,200 600 Gross margin 600 500 1,100 Operating expenses 100 100 200Pre-tax income 500 400 900 Income tax (35%) 175 140 315Net income $ 325 $ 260 $ 585 As long as corporate tax rates in both countries are the same, an increase in the transfer price charged by the manufacturing affiliate transfers income from Country B to Country A. The pricing action, however, has no effect on consolidated taxes or on consolidated income.Low Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,000 $1,700 $1,700 Cost of sales 600 1,000 600 Gross margin 400 700 1,100 Operating expenses 100 100 200 Pre-tax income 300 600 900 Income tax (30%/40%) 90 240 330 Net income $ 210 $ 360 $ 570High Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,200 $1,700 $1,700 Cost of sales 600 1,200 600 Gross margin 600 500 1,100 Operating expenses 100 100 200 Pre-tax income 500 400 900 Income tax (30%/40%) 150 160 310 Net income $ 350 $ 240 $ 590 Where tax rates differ between countries, an increase in the transfer price charged by themanufacturing affiliate transfers taxable income from the higher tax affiliate to the lower tax affiliate. As a result, consolidated taxes decrease by $20,000 and consolidated net incomerises by $20,000.10. a.There are at least three possible transfer prices based on the facts in this exercise. Thefirst is $120, the uncontrolled selling price in Country A. The second is $100, theminimum declared value legally allowed in Country B. The third is $103.20, based onallowing the affiliate in Country A to earn a reasonable (20%) profit on cost. $103.20 iscalculated as follows:Manufacturing cost Operating expenses Transportation costs Total cost per unit Normal profit (20%) Transfer price$ 60.0010.0016.00$ 86.0017.20$103.20($100,000 ÷ 10,000 units)Consolidated income using the three transfer prices is as follows:$120 Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,200 $1,700 $1,700 Cost of sales 600 1,200 600 Gross margin $ 600 $ 500 $1,100 Operating expenses 100 100 200 Transportation costs 160 -0-160 Import duty (20%)-0-240240 Pre-tax income$ 340$ 160$ 500 Income tax (30%/40%)10264166 Net income $ 238$ 96 $ 334$103.20 Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,032 $1,700 $1,700Cost of sales 600 1,032 600Gross margin $ 432 $ 668 $1,100Operating expenses 100 100 200Transportation costs 160 -0-160Import duty (20%)-0-206206Pre-tax income$ 172$ 362$ 534Income tax (30%/40%)52145197Net income $ 120$ 217 $ 337$100 Transfer Price (000s omitted)Country A Country B Consolidated Sales $1,000 $1,700 $1,700Cost of sales 600 1,000 600Gross margin $ 400 $ 700 $1,100Operating expenses 100 100 200Transportation costs 160 -0-160Import duty (20%)-0-200200Pre-tax income$ 140$ 400$ 540Income tax (30%/40%)42160202Net income $ 98$ 240 $ 338b.The three transfer prices have a minimal impact on consolidated income overall.However, it should be emphasized to students that one cannot just focus on the “bottomline.” The exercise points out the interaction of import duties and income taxes. Eventhough varying the transfer price between $100 and $120 has a negligible impact onconsolidated income, the income taxes paid to the two countries vary quite a bit. Themultinational must contend with income tax authorities of both countries and the customsofficials of Country B. The multinational must be able to justify the transfer price to allof these parties.11.Costs as a % of sales price:Operating expenses14%Profit margin 6%Total 20%TP= {[450 X (100% – 20%) – 1.50] ÷ (100% + 5%)} – 1.00= {[ 360 – 1.50] ÷ 1.05} – 1.00= $340.4312.Total manufacturing cost per unit = SEK 401.00Financing cost a % of total manufacturing cost[(7% x SEK45,000,000) ÷ SEK40,100,000] 7.86% 1.Required margin before adjustments:Required margin 8.00%Financing cost7.86%15.86%ernment subsidy adjustment 5.00%3.Adjusted margin in cash terms[(1.1586 ÷ 1.05) – 1] 10.34% 4.Adjusted margin with 60 day terms{1.1034 x [1 + (.07 x 60/360)]} – 1 = 11.63% Transfer price = (1.1163) x (SEK401.00) = SEK447.64Case 12-1The Shirts Off Their Backs1.We believe that wealthy nations have a moral responsibility to help alleviate poverty in poornations. Tax collections in poor countries are part of the solution to alleviating their poverty.Thus, the question of why wealthy nations should be concerned about seeing that poor onescollect their “fair share” of taxes is a moral one.The Christian Aid report lists three reasons why rich countries should be concerned about “tax justice” and help bring it about:a.Levying taxes is critical in alleviating poverty. As countries develop their economies,they need to use taxation to redistribute wealth and bolster public (government) financesto invest in infrastructure which will, in turn, foster economic development.b.Rich countries also lose income through tax avoidance.c.In a world increasingly affected by terrorism, a system of global finance built on secrecycannot be tolerated. After 9/11, the U.S. government acted swiftly to go after terroristfinancing, much of which involved tax havens. These actions show that it is not beyondthe power of authorities to track money around the world.2.There is no doubt that accountants and accounting firms have played a role in tax avoidanceschemes. Are they behaving ethically or stretching the limits of aggressive tax positions? As the case notes, Andersen facilitated Enron’s massive tax avoidance, setting up a global network of3,500 companies to keep from paying taxes. The case cites a U.S. GAO report that found that 60 percent of U.S. corporations with at least $250 million in assets reported no federal tax liabilityfor any year between 1996 and 2000. In 2003, Ernst & Young reached a $25 million settlement with the IRS over aggressive tax shelters that it marketed. In 2006, KPMG paid a $465 millionsettlement after it admitted selling unlawful tax shelter schemes. The anecdotal evidence, at least, gives accountants and accounting firms a black eye.How culpable they are in perpetuating poverty is an open issue. As discussed next in response to question 3, some would argue that accountants are merely responding to the national andinternational rules and systems. However, this argument ignores the ethical dimensions of their actions. Clearly accountants alone cannot solve the problems raised in the case. Greatertransparency is critical, including open information sharing among national tax authorities.International efforts to pry open secret tax haven countries are also necessary. Hurting the ability of developing countries to collect taxes is perhaps an unintended consequence of accountants’participation in tax avoidance schemes.3.In our view, tax planning is not wrong per se, but a natural behavioral response to tax rules inplace and the enforcement actions of tax administrations systems. One observer writes:[R]ules always affect behavior and not necessarily in the way expected or desired by the rulemaker. It is idle to suppose that behaviors will not be affected. Ensuring that unintendedconsequences are minimized and that the intended consequences are achieved is a difficult art. I see no reason why regulations should not be immune to this.I know that the benefits of living in a civilized and well organized society have to be paid for. Iaccept and do not argue against a duty to pay taxes. It is for the properly appointed government to decide how the necessary money should be raised by taxes and thus what each citizen’s share of the total tax bill should be. I recognize that some would say that citizens have a moral duty to pay their properly appointed share of the total. My problem is that I cannot see any justificationfor a suggestion that citizens should so organize their lives as to maximize (or at least avoidminimizing) the share of taxes that they must each pay.In this light, tax planning is not a crime: it is an inevitable human reaction to a particular set ofrules.At some point most people will have changed their behavior to use the provisions of tax law tosecure a benefit of some kind.1If accountants are playing within the rules, then minimizing taxes through proper planning isessentially benign. However, aggressive strategies that operate under the veil of secrecy stretch the limits of ethical behavior in general and accountants’ code of ethical conduct in particular.4.The first three policy recommendations, taken from the Christian Aid report, involve strongerinternational cooperation on the sharing of information.a.Open up the banking secrecy and confidentiality laws that operate in “uncooperative” taxhavens. As the chapter discusses, the OECD is trying to do this, but further cooperativeinternational government actions are necessary to provide transparency over thelegitimacy of transactions funneled through tax haven countries. The veil of secrecy thatoperates in some tax havens prevents governments from automatically exchanginginformation about cross-border income payments.b.Banks and other financial institutions should be required to disclose to relevantauthorities interest, dividends, royalties, and other income that they pay to citizens andcompanies around the world. As this information is shared across countries, theappropriate tax can then be levied by that country’s tax authority.c.Increase the exchange of information among the world’s tax authorities. In particular,increase cooperation and information sharing between the tax authorities of rich and poornations.d.Provide development aid to improve accounting expertise in poor countries. They needthis expertise to audit transfer pricing practices of multinational corporations.e. A unitary tax system (mentioned in the chapter) whereby the global profits ofmultinationals are divided among countries based on the extent of their activities, isadvocated by some. This would reduce or eliminate the need for complex transferpricing to minimize taxes. Each country could tax its share of global profits at the ratedesired.1 Chris Swinson, “Of Tax Rules and Their Consequences,” Accountancy (October 2005): 26.Case 12-2Muscle Max: Your Very Own Personal TrainerThis case raises a number of issues and should be a good vehicle to acquaint students with the many considerations that impact international transfer prices. One issue concerns host government relations, especially with customs officials. The fact that Muscle Max-Australia is being invoiced at two different prices for identical equipment could lead to Australian charges of "dumping" with regard to imports from Malaysia. Invoicing imported machines from Malaysia at the higher Canton price ([A$675 x 1.26] =A$850) or invoicing imported machines from Canton at the lower Malaysian price (A$675) would obviously involve tradeoffs dealing with taxes, competitive position, etc. Students should be encouraged to discuss the costs and benefits associated with such tradeoffs.Another issue relates to who should set transfer pricing policies. Here, affiliate managers appear to have much discretion in setting their transfer prices. The question is whether and under what circumstances this is superior to more centralized decision-making. Students will probably be divided on this issue. Ultimately, the conclusion of which posture is best will relate to management’s philosophy regarding the purpose of transfer pricing. If the purpose is to maximize system-wide results, e.g., minimize global taxes, a case can be made for centralizing transfer pricing policy. If the purpose is to comply with local requirements (legal or otherwise), decentralization may be better.Closely related to the centralization-decentralization issue is the basis upon which transfer prices should be based. Here, transfer prices are based on a cost-plus method. While this may constitute an arm’s-length price and is suited to a centralized management style, it has its limitations. Higher transfer prices paid for the same merchandise could affect Muscle Max-Australia’s local pricing policies with resulting unfavorable competitive effects. The artificially high transfer prices paid for imports from Canton may minimize system-wide taxes, but they must be balanced against lower resulting profit margins which could reduce the company’s local borrowing capacity. Accordingly, some students will argue that market-based prices are better. This approach appears to be more objective and in keeping with a decentralized profit center orientation. Moreover, market-based transfer prices encourage local managers to keep their local prices competitive, are easier to justify to host governments, and in some sense is a more ethically-based price. Even here, however, students can be expected to disagree as to what constitutes an acceptable market-based transfer price.The effect of transfer pricing policies on performance evaluation measures and, ultimately, management behavior also should be considered. The use of a single transfer price for both tax planning and financial control purposes is subject to debate. While the notion of dual transfer pricing systems is logical – i.e., one set of transfer prices for fiscal planning purposes and another for performance evaluation purposes – practice suggests that many firms are unwilling to use such a system because of the cost and time needed to set up and administer it.。

国际会计(第三、四章国别会计)0

国际会计----国别会计
14
证券交易委员会（SEC）
1934年建立。
世界经济大危后，美国政府决心在立法方面加强对公司会计的约束和监督。
SEC是根据1934年证券交易法第四条规定而设立，是掌管证券法规的行政机关，它对证券法和证券交易法的实施负责，监督和管理实施情况。
该委员会是由总统直接任命的五个委员组成的独立的
• 发行证券必须办理注册手续，且文件申报的内容要向投资人公布
• 如果由于注册文件提供了失实的内容而使购买者蒙受损失时，证券购买者可在在规定的期限向证券发行者追索赔偿
• 与会计有关的规定：要求所有公开募集证券的公司都必须提供注册报表，包括营业报表，注册证券的种类，审计后的财务报表
2021/1/29
发布《会计原则委员会文告》（APB Statements) 4个。
2021/1/29
国际会计----国别会计
25
需要说明的是，这些“文告”并不是会计准则，而是委员会对一些问题的看法和理论表述。
该委员会的主要成绩是，在1970年发表的会计原则委员会第4号文告：《企业财务报告依据的基本概念和基本会计原则》（Basic Concepts and Accounting Principles Underling Financial Statements of Business Enterprises），这个文告在财务会计的理论探讨方面占有一定的位置，在西方乃至在我国的会计著作中都时常加以引用。
2021/1/29
国际会计----国别会计
17
然而，需要指出的是，SEC依靠民间机构制定会计准则，并不意味着它放弃了法律赋予的权力。民间专业机构制定的会计准则，其权威性是由SEC赋予和确认的。

国际会计第4章1日本荷兰

国际会计第4章1日本荷兰
n 二战失败后，日本的会计实务体系又深受美国会计的影响，有一种掺合的迹象。
n 尽管在世界范围的会计模式分类中，一般都从发展趋向把它归入受美国影响模式的国家，但在日本也存在着传统与外来影响的矛盾，外来影响只能逐步地被接受，因此：
传统
日本会计
外来影响
日本的会计发展是缓慢的
n 进入日本职业界的人员为了成为注册会计师,必须经过三个级别的考试。大学和学院的毕业生可免除注册会计师的初级考试,中级考试包括经济学、簿记、财务报告、成本会计、商法、企业管理和审计理论,及格率很低。高级考试为一项技能性的竞争测试,包括笔试和口试,参试者还必须提交一篇论文,其难度相当大。另外,三次考试合格后,参加一段时间的实际工作,经注册会计师审查委员会审查通过,并报大藏省认定后,方可注册登记。
n 第三,在企业和政府的关系方面,企业通过产业界团体和政府形成相互依存的结构。
n 因此,更为强调会计的宏观服务性,其会计制度由政府有关机构制定和实施,在满足私人利益同时,也特别注重为国家整体经济管理服务。
n 政府对会计干预力量较大,充分体现了国家管理职能。
国际会计第4章1日本荷兰
法律环境对会计的影响
国际会计第4章1日本荷兰
社会文化对会计的影响
n 因此日本民族痛恨“单打独斗”,善于相互依靠, 崇尚集体主义,遵守集体规范,效忠集体利益。
n 所以,日本会计人员非常注重职业道德,强调对企业的效忠。
国际会计第4章1日本荷兰
社会文化对会计的影响
n 根据荷兰学者霍夫斯蒂德对部分国家社会价值层面的对比分析,
国际会计第4章-1日本荷兰
2020/11/9
国际会计第4章1日本荷兰

国际会计第七版课后答案(第四章) 作者：弗雷德里克

Chapter 4Comparative Accounting: The Americas and AsiaDiscussion Questions1. Public and private sector bodies are involved in regulating and enforcing financial reporting in theUnited States. The Financial Accounting Standards Board is a private sector body that determines U.S. generally accepted accounting principles. The Securities and Exchange Commission has the authority to determine U.S. GAAP for publicly held companies, but defers to the FASB. The FASB and SEC have a close working relationship that ensures that FASB standards are acceptable to the SEC. The SEC enforces financial reporting rules for publicly held companies. It actively reviews the filings that companies make. Auditors are the enforcers for non-publicly held companies.Accounting standards in Mexico are issued by the Council for Research and Development of Financial Information Standards (CINIF), an independent public-private sector body patterned after the U.S. FASB. Its authority for issuing Mexican accounting standards is recognized by the National Banking and Securities Commission, the government agency that regulates the Mexican Stock Exchange. The Commission is responsible for enforcing financial reporting standards for listed companies. However, it is unclear how proactive the Commission is in investigating filings that it receives. Enforcement of financial reporting for non-listed companies effectively rests with auditors.Japanese accounting standards are set by a private sector body, the Accounting Standards Board of Japan. The establishment of the ASBJ is a recent development in Japan. Before, accounting standard setting was a government activity. Enforcement of financial reporting effectively rests with auditors. The stock exchange is regulated by the Financial Services Agency, a government body. However, it is unclear how proactive the FSA is in monitoring financial reporting by Japanese companies.Accounting standard setting is a government activity in China. The China Accounting Standards Committee is the authoritative body within the Ministry of Finance responsible for developing accounting standards. The China Securities Regulatory Committee is the government agency that regulates China’s two stock exchanges. The CSRC is also responsible fo r enforcing financial reporting for listed companies. Many question the effectiveness of the Chinese enforcement mechanism.The Institute of Chartered Accountants in India, a private sector professional body, develops accounting standards in India. The Securities and Exchange Board of India, an agency of the Ministry of Finance, regulates India’s 22 stock exchanges and is responsible for enforcing financial reporting rules. However, it is unclear how proactive the board is in monitoring financial reporting by Indian companies.Overall, the five countries vary in terms of private versus public sector responsibility for regulating and enforcing financial reporting. Enforcement is questionable in several countries.The United States has the strongest mechanism for regulating and enforcing financial reporting of the five countries.2. The United States and India are common law countries that have fair presentation orientedfinancial reporting. Mexico also has fair presentation oriented financial reporting because of U.S.influence. In addition, Mexico has inflation-adjusted accounting, in contrast to the other four countries. Japan is a code law country and its accounting has traditionally been characterized as conservative and tax-driven, just like other code law countries (such as France and Germany discussed in Chapter 3.) However, it is moving to fair presentation because of its commitment to converge Japanese accounting standards with IFRS. China is likewise moving toward fair presentation oriented accounting by adopting IFRS as Chinese GAAP. Despite adopting fair presentation principles, one can question whether the Chinese achieve it in application. There is an acute shortage of trained accountants in China and the profession remains undeveloped. The accounting profession is strong in the other four countries, including the “developing” economies of India and Mexico.3.The auditor oversight bodies discussed in this chapter are:a.United States – Public Company Accounting Oversight Boardb.Japan – Certified Public Accountant and Auditing Oversight BoardThe recent establishment of independent auditor oversight bodies in the United States and Japan is in response to recent worldwide accounting scandals. Both represent tightening control over auditors.4. Tax legislation pays a limited role in all five countries, with the exception of Japan. In the UnitedStates, financial and tax accounting are separate except for LIFO. Tax legislation has little influence on financial reporting practices in Mexico. For example, there are numerous differences between financial and tax accounting, such as the calculation of cost of sales, depreciation, and goodwill amortization. Tax legislation has traditionally been one side of the “triangular legal syste m” in Japan, exerting an influence on Japanese accounting standards. However, the influence of taxation is declining with the alignment of Japanese accounting standards to IFRS.Several years ago, tax legislation had some influence in China, but this has waned as China develops a more complete set of financial reporting standards. India, like other common law countries, separates financial and tax accounting.4.This question has been of interest in academia for quite some time. Is accounting expertise anecessary precondition for economic development, or can an economy advance without it? It would seem that an economy cannot advance very far without accounting expertise. But the relationship probably works both ways, just like demand creates supply and vice-versa.The example of China demonstrates the importance of developing accounting (standards, knowledge, etc.). Accounting is a part of the market reform packages in China, so the need has been recognized from the start. Mexico and India have been market-oriented longer than China, and their accounting is more developed. But again, it is apparent in these two countries that accounting supports economic development.6. U.K. standards (Chapter 3) and IFRS (Chapter 8) are said to reflect principles-based standards,while U.S. standards (this chapter) are said to be rules-based. Generally speaking, principles-based standards set forth broad objectives and fundamentals and require professional judgment for their implementation. They are more flexible than rules-based standards and are likely to result in more divergence in practice. Rules-based standards are more specific in their requirements and have more detailed implementation guidance than principles-based standards.They are likely to result in more comparability than principles-based standards, but are said tofoster a “check the box” mentality. The chapter says that U.S. GAAP is “probably more voluminous than in the rest of the world combined and substantially more detailed than in any oth er country.” Thus, one can argue that U.S. GAAP is rules-based.7. The U.K. and U.S. both follow fair presentation accounting, reflecting economic substance ratherthan legal form. Both the U.K. “true and fair” and the U.S. “presents fairly” reflect fa ir presentation. However, the U.K. has a true and fair override –accounting standards can be overridden if necessary to achieve a true and fair view. In the U.S., presents fairly means that generally accepted accounting principles have been followed.8. The most important reconciling item (i.e., the most significant difference between Mexican andU.S. accounting) relates to the use of general price level accounting in Mexico. Strict historical cost is used in the U.S. Two other differences noted in the chapter are (a) Mexico applies the equity method at 10 percent, whereas the U.S. applies it at 20 percent and (b) in Mexico development costs are capitalized and amortized after technological feasibility has been established; in the U.S., they are expensed.9.The bursting of the Japanese bubble economy in the 1990s prompted a review of Japanese financialreporting standards. It became clear that many accounting practices hid how badly many Japanese companies were actually doing. The accounting “big bang” was designed to make the financial condition of Japanese companies more transparent and bring Japanese accounting more in line with international norms.Practice changes include the following:a.Requiring listed companies to report a statement of cash flows.b.Subsidiary companies are consolidated based on control rather than ownership.c.Affiliated companies are accounted for using the equity method based on influence ratherthan ownership.d.Investments in securities are valued at market rather than cost.e.Deferred taxes are fully provided.f.Pension and other retirement obligations are accrued in full.10.Full and complete disclosure of reliable, evenhanded information is necessary to develop a fairand efficient stock market. The “Anglo-Saxon” model of a ccounting (discussed in Chapter 2), emphasizing a fair presentation of financial condition and results, and emphasizing stewardship, also fosters the development of a fair and efficient stock market. Countries with this accounting orientation (such as the U.S. and U.K.) have active, fair and efficient stock markets. There is alsoa legal structure and an effective enforcement of laws and accounting disclosures to make it allwork.China is developing accounting standards with the stock market orientation discussed above. So China is on the right track here –the standards themselves will support the development of a stock market. In addition, investors must have confidence that the standards are being followed,i.e., that the information disseminated by companies is reliable. Thus, good auditing by well-trained accounting professionals is important. China may have difficulty developing anaccounting profession, which would in turn be a hindrance to stock market development. China must also overcome the culture of secrecy developed under communism.11.The chapter mentions a number of examples where Chinese accounting standards are consistentwith world class practices. A selective list of the more important ones are the following:parative, consolidated financial statements including a balance sheet, incomestatement, cash flow statement, and notes.b.Accrual basis for recognizing revenues and expenses, matching, and consistency.c.Purchase method for business combinations with annual impairments test.d.Equity method for nonconsolidated affiliates.e of historical cost.f.Finance leases capitalized.12. The British influence on accounting in India is clear. India has a common law legal system andfair presentation accounting that accompanies it. Like Britain, financial statements must give a true and fair view and there is a strong self-regulated accounting profession. Professional accountants (auditors) are called chartered accountants in both countries. The financial reporting and accounting measurements described in this chapter for India are very similar to those described in Chapter 3 for the United Kingdom.Exercises1. United Statesa.Financial Accounting Standards Board.b.Securities and Exchange Commission.Mexicoa.The Council for Research and Development of Financial Information Standards.b.There is no definitive enforcement agency. However, the National Banking andSecurities commission regulates the Mexican Stock Exchange.Japana.The Accounting Standards Board of Japan.b.The Financial Services Agency for listed companies under the securities law and theMinistry of Justice, when company law is involved.Chinaa.The Chinese Accounting Standards Committee under the Ministry of Finance.b.The Chinese Institute of Certified Public Accountants, under the jurisdiction of theMinistry of Finance, regulates auditing.Indiaa.Institute of Chartered Accountants of India.b.Institute of Chartered Accountants of India.2.At the time of writing, the following organizations were linked to IFAC’s website:United StatesInstitute of Management AccountantsAmerican Institute of Certified Public AccountantsNational Association of State Boards of AccountancyMexicoInstituto Mexicano de Contadores PúblicosJapanJapanese Institute of Certified Public AccountantsChinaChinese Institute of Certified Public Accountants3.The question asked for five expressions, terms, or short phrases unfamiliar or unusual in thestudent’s home country. Taking the United States as the home countr y, here are twelve:a.Triangular legal system – A description of accounting regulation in Japan consisting ofthe interacting Company Law, Securities and Exchange Law, and Corporate Income TaxLaw.b.Socialist market economy – Used in China to describe its planned economy with marketadaptations.nd and industrial property rights –Still owned by the Chinese government, privatecompanies acquire the right to use these industrial assets.d.Pesos of current purchasing power – A term to describe general price level accounting inMexico.e.Tax compliance audit report –Mexican auditors must attest that no irregularities wereobserved regarding compliance with tax laws.f.Statement of changes in financial position –the financial statement in Mexico thatcorresponds to the statement of cash flow. However, the statement of changes infinancial position is prepared in constant pesos (adjusted for inflation), while the cashflow statement uses historical cost.g.Seniority premiums –compensation paid in Mexico at the termination of employmentbased on how long the employee has worked.h.Keiretsu– Interlocking giant conglomerates in Japan.i.Guanxi– Relationship culture in China that is based on mutuality and mutual duties.j.B-shares – Shares issued to foreign investors by Chinese listed companies.k.True and fair view – The requirement in India that financial statements present a true and fair view came from Britain.l.Amalgamation – The term used in India for a merger.4. The most important financial accounting practice or principle at variance with international normsis probably the following:United States – LIFO. Driven by tax law considerations, no other country uses LIFO to the extent found in the U.S. LIFO reduces reported earnings. Because older, lower costs of inventory are shown on the balance sheet, the debt to asset ratio will be higher. Companies using LIFO must report so-called LIFO reserves that enable an analyst to convert LIFO amounts to FIFO amounts.Mexico– Inflation adjustments. Most countries in the world value assets and related expenses at historical cost; few countries incorporate inflation adjustments. With inflation adjustments, earnings will be lower and the debt to asset ratio will probably be lower as well. It is unlikely that an analyst will be able to adjust Mexican accounts to historical cost. Of course, such an adjustment is unwise, given high inflation.Japan–Pooling of interests method for business combinations where no party obtains control over the other. The international norm is to treat all business combinations as a purchase.Compared to purchase accounting, pooling results in higher income and lower asset values.Therefore, the debt to asset ratio will be higher. An analyst will be unable to adjust for this accounting method.China– Showing the right to use land and industrial property owned by the government as an intangible asset. China is unusual in the extent to which the government owns land and industrial property. As long as these intangibles are fairly valued, there will be no effect on reported earnings or the debt to asset ratio. However, the analyst must realize that the intangible asset shown on a Chinese company’s balance sheet is a tangible asset on the balance sheets of companies from other countries.India– Pooling of interests method for amalgamations (mergers). As noted above for Japan, the international norm is to treat all business combinations as a purchase. Compared to purchase accounting, pooling results in higher income and lower asset values. Therefore, the debt to asset ratio will be higher. An analyst will be unable to adjust for this accounting method.5. At the time of writing, the following numbers are reported by the World Federation of StockExchanges:The significant number of listed companies in India may be surprising. It may also be surprising that the number of listed Japanese companies matches the numbers for the United States. Another potential surprise is the fact that the Mexican Stock Exchange has more foreign listed firms than domestic listed firms. Students will probably speculate that most of the foreign listed firms in Mexico are from other Latin American countries, a statement that is in fact true. The lack of foreign listed firms in China and India has two possible explanations –either the government does not allow foreign firms to list on domestic exchanges, or companies do not see these stock markets as an attractive place to raise capital. The latter explanation is why there are so few foreign listed firms in Japan.5.A comparison of the countries in Exhibit 4-5 reveals few differences among the United States,Mexico, and China. Thus, all three countries can claim that their GAAP are comparably oriented toward equity investors. However, of the three countries, the United States can probably claim to have GAAP most oriented toward equity investors. The chapter notes that the U.S. has the most voluminous and detailed accounting requirements in the world and that they are rigorously enforced. Thus, the nod goes to the United States.India and Japan both allow pooling of interests accounting, an accounting treatment now at variance with international norms. The treatment of goodwill in these two countries is also at variance with international norms. In addition, Japan’s lea se accounting treatment is at variance with international norms. Thus, Japan seems to be the country whose GAAP is least oriented toward equity investors.6.At the time of writing, the following companies are listed on the New York Stock Exchange fromMexico, Japan, India, and China:MexicoAmerica MovilCemexCoca-Cola FEMSADesarrolladora HomexEmpresas ICAFomento Economico MexicanoGRUMAGrupo Aeroportuario del PacificoGrupo Aeroportuario del SuresteGrupo Casa SabaGrupo Radio CentroGrupo TelevisaGrupo TMMIndustrias BachocoTelefonos de MexicoVitroJapanAdvantestCannonHitachiHonda MotorKonamiKubotaKyoceraMatsushita Electric IndustrialMitsubishi UFJ Financial GroupMizuho Financial GroupNidecNippon Telegraph and TelephoneNIS Group Co.Nomura HoldingsNTT DoCoMoOrixSonyTDKToyota MotorIndiaDr. Reddy’s LaboratoriesHDFC BankICICI BankMahanagar Telephone NigamPatni Computer SystemsSatyam Computer ServicesTata MotorsVidesh Sanchar NigamWiproWNS HoldingsChinaAluminum Corporation of ChinaAmerican Oriental BioengineeringChina Eastern AirlinesChina Life InsuranceChina MobileChina Netcom GroupChina Petroleum and ChemicalChina Southern AirlinesChina TelecomChina UnicomGuangshen RailwayHuaneng Power InternationalMindray Medical InternationalNew Oriental Education and TechnologyPetroChinaSemiconductor Manufacturing InternationalSinopec Shanghai PetrochemicalSuntech Power HoldingsTrina SolarYanzhou Coal MiningMexico has 16 companies listed on the NYSE, ranking third after Brazil (35) and Chile (17).This is perhaps surprising given the strong economic links between the United States and Mexico discussed in the chapter. One would expect Mexico to have the most of any Latin American country. Of the countries in the Asia-Pacific region, China has the most number of companies listed on the NYSE (20); Japan is second (19); and India is third (10). As discussed in the chapter, the economies of China and India are growing rapidly. The relatively large numbers of NYSE listed Chinese and Indian companies probably reflect a need for capital by their larger companies. That Japan has approximately the same number of NYSE listed companies as China is perhaps surprising. However, the chapter discusses how debt financing dominates equity financing in Japan.8. a. The two major areas of difference are asset valuation and accounting for goodwill. In theU.K., assets may be valued at historical cost, current cost, or a mixture of the two. Whenfixed assets are revalued, depreciation and amortization must be calculated using therevalued amounts. Only historical cost is allowed in the U.S. In the U.K., goodwill canbe impairments tested, as in the U.S., but may also be amortized over 20 years or less.Other differences between U.K. and U.S. GAAP relate to LIFO and the calculation of long-term deferred taxes. LIFO is rarely used in the U.K., but is relatively more commonin the U.S. In the U.K., long-term deferred taxes may be valued at discounted presentvalue. Finally, opportunities for income smoothing are probably greater in the U.K. thanin the U.S.b.Research has documented that U.S. GAAP earnings is systematically moreconservative than U.K. GAAP earnings (see, for example, P. Weetman and S.J. Gray,International Financial Analysis and Comparative Corporate Performance: The Impactof U.K. versus U.S. Accounting Principles on Earnings, Journal of InternationalFinancial Management and Accounting(Summer & Autumn 1990), pp. 111-130).However, many of the accounting principles on which this research study is based havenow changed.Goodwill accounting should result in a more conservative income amount for U.K.companies if they systematically amortize it over 20 years. However, the occasionalimpairments write-downs that U.S. companies will have will result in a lower incomeamount in the year of write-down. The use of LIFO in the U.S. will result in moreconservatively measured U.S. income amount. However, U.K. companies will reportlower earnings if assets are revalued, because corresponding depreciation charges will behigher. The effects of U.K. smoothing activities are unclear, but it seems likely thatcompanies would be more inclined to smooth toward higher earnings rather than lower.On balance, we think that U.S. companies will have somewhat more conservativeearnings amounts, but U.K and U.S. GAAP are converging.9. The chapter identifies the following major changes that have occurred since the Japanese “bigbang”:rge companies must prepare consolidated financial statements, not just listed ones.b.Listed companies must report a statement of cash flows.c.Consolidation is based on control rather than ownership.e of the equity method is based on significant influence rather than ownership.e.Goodwill is calculated based on fair market value of net assets acquired rather than bookvalue.f.Goodwill is amortized over 20 years rather than 5 years. It is also impairments tested.g.Investments in securities are valued at fair market value rather than cost.h.Inventory is valued at the lower of cost or net realizable value rather than cost.i.Deferred taxes are now fully provided.j.Pension and other retirement obligations are now fully accrued.k.Research and development is now expensed rather than deferred in some cases.l.For foreign currency translation, revenues and expenses are now translated at the average rate (rather than a choice between year-end or average rates) and the translationadjust ment is in stockholders’ equity (rather than shown as an asset or liability).10.The chapter identifies the following major changes that have occurred in Chinese accounting sincethe 1990s:a.The ASBE issued in 2006 represent a comprehensive set of Chinese accounting standardsthat are substantially in line with IFRS.b.The ASBE issued in 2006 also contains auditing standards similar to InternationalStandards on Auditing. All Chinese accounting firms and auditors are required to followthese audit standards.c. A cash flow statement is now required.d.Goodwill is impairments tested rather than amortized.e of the equity method is based on influence rather than ownership percentage.f.Consolidation of subsidiary companies is based on control rather than ownershippercentage.g.Foreign currency translation of overseas subsidiaries is based on the primary economicenvironment in which they operate.h.Tangible assets are depreciated over their expected useful lives rather than based on taxlaw.i.Lower of cost or market is now used to value inventory.j.LIFO is no longer an acceptable inventory costing method.k.Finance leases are now capitalized.l.Deferred taxes are now provided in full for all temporary differences.m.Contingent obligations are now provided for when they are both probable and a reliable estimate can be made of their amount.11.12. a. Japan and India allows pooling, while the others do not. Pooling usually results in lowernoncurrent asset amounts and higher income amounts. Goodwill and subsequentamortization is also excluded under pooling. To the extent that pooling is used byJapanese and Indian companies, they are likely to have higher debt to equity and debt toasset ratios. The numerator (return) and the denominators (assets and equity) in the twoprofitability ratios should all be higher, but the effect on the ratio is indeterminate.Liquidity ratios should be unaffected.b.Japan and India both require goodwill to be capitalized and amortized. This should haveno effect on the either liquidity ratio. The amortization will result in a lower amount ofincome going to retained earnings. Thus, the debt to equity ratio will be higher than whatit would be without amortization. The debt to asset ratio will also be higher. The effecton the profitability ratios is unclear. The numerator (income) will be lower than what itwould be without amortization. However the denominators in each case (assets andequity) will also be lower.c.The equity method is used in all five countries, so there is no effect on comparative ratios.d.Price-level adjusted accounting is practiced in Mexico and Indian companies may revaluetheir tangible assets to current values. The result is higher asset values, higher equity, and lower income (because of higher depreciation and cost of goods sold charges), compared to historical cost. The current ratio will be higher, but cash flow from operations to current liabilities will be unaffected. Both solvency ratios will be lower because their denominators (assets and equity) will be higher. Both profitability ratios will be lower. The numerator (income) will be lower and the denominators (assets and equity) will be higher.e.Depreciation in Japan is tax-based, which is normally higher than economics-baseddepreciation. This will reduce income and lower the profitability ratios. The more rapid write-off of fixed assets will cause lower total asset values. Thus, the debt to asset ratio should be higher. The debt to equity ratio and both liquidity ratios should be unaffected.f.LIFO is used in the United States. It is permitted in Japan, but not widely used.Companies using LIFO should have lower income, so lower profitability ratios.Inventory will probably be lower, causing the debt to asset ratio to increase and the current ratio to decrease. Cash flow to current liabilities will be unaffected. With less income going to retained earnings, the debt to equity ratio will be higher.g.Probable losses are accrued in all five countries, so there is no effect on comparativeratios.h.Not all finance leases are capitalized in Japan. Companies will report comparativelylower noncurrent liabilities and noncurrent assets. Income will also be affected, but the amount is probably immaterial. The liquidity ratios should be unaffected. Both solvency ratios should be lower and return on assets will be higher. The effect on return on equity is probably immaterial.i.Deferred taxes are accrued in all five countries, so there is no effect on comparative ratios. j.Some opportunity for income smoothing exists in India. Income smoothing has an indeterminate effect on income in any given year. Therefore it is not possible to know how the profitability ratios are affected. The effect of creating reserves is to shift amounts that would otherwise be in retained earnings into the reserve accounts. Since both of these are in shareholders’ equity, this total is unaffected. Therefore, the solvency ratios are likely to be unaffected. The two liquidity ratios will be unaffected.。

第四章国际会计协调化活动

IOSCO由主席委员会和执行委员会组成。

30
证券委员会国际组织的目标和组织结构

主席委员会制定和决定该组织的目标，由各个会员（包括会员和准会员）机构的主席组成，下设四个常务机构：
（1）非洲/中东地区委员会；（2）亚太地区委员会；（3）欧洲地区委员会；（4）泛美地区委员会。

32
关于国际会计核心准则体系
1995年证券委员会国际组织与国际会计准则委员会(IASC)商定了关于使国际会计准则(IAS)形成一个会计准则核心体系的计划。 1998年12月底，IASC宣布按协议完成了与4 0项需要解决的议题相对应的已发布的IAS 的修订工作和新准则的制定工作； IOSCO对截至2000年1月IASC这些新制定的或修订的IAS 2000年版本进行评审；
21
欧洲经济共同体委员会理事会第7号指令

第7号指令的主要特征
1.在概念依据上是“母公司观”和“主体观”
的折中，更倾向于“母公司观”，“集团”的
2.带有浓厚的英国合并会计色彩。 3.《第7号指令》体现了原则性与灵活性的有机
结合。
22
欧盟的新会计策略

欧盟新会计策略主要体现
1.强调要加强欧盟对国际会计准则制定过程所
11
联合国：会计与报告国际准则政府间专家工作组的活动

1979年，联合国又成立了有34个成员国代表参加的会计和报告国际准则特设政府间专家工作小组，小组并同意国际会计准则委员会、国际会计师联合会、国际自由工会联合会和国际商会派来观察员。 1982年提交了一份称为《跨国公司行为规范中的会计披露要求》的重要报告，要求跨国公司应向经营活动所在国的公众披露有关组织结构、政策、业务活动和经营情况的清楚、充分和全面的既包括财务项目也包括非财务项目的信息，并采取常规的年报形式。

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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国际会计第七版课后答案(第四章)__作者：弗雷德里克————————————————————————————————作者：————————————————————————————————日期：2第四章比较会计:美洲和亚洲讨论问题1。

公共和私营部门机构参与调节和执行财务报告在美国。

财务会计准则委员会是一个私人的身体决定美国公认会计原则。

美国证券交易委员会有权决定美国公认会计准则对上市公司来说,但FASB推迟。

FASB和秒有一个密切的工作关系,确保FASB SEC标准是可以接受的。

美国证券交易委员会对上市公司实施财务报告规则。

公司积极审查申请。

审计师的执法者非公有制企业举行。

发布的会计准则在墨西哥是财务信息标准的研究和发展委员会(CINIF),一个独立的美国FASB公私部门的身体后图案。

墨西哥的权威发布会计准则是国家银行和证券委员会认可的政府机构,调节墨西哥证券交易所。

欧盟委员会负责执行上市公司财务报告准则。

然而,目前尚不清楚如何主动的委员会在调查其接收到的文件。

执行财务报告为非上市公司有效取决于审计师。

日本会计准则由私营部门机构设置,日本的会计准则委员会。

ASBJ的建立是最近在日本发展。

以前,会计准则制定是政府活动。

财务报告的执行有效取决于审计师。

证券交易所监管的金融服务机构,政府机构。

然而,目前尚不清楚如何主动FSA在监测由日本公司财务报告。

在中国会计准则制定是政府的活动。

中国会计准则委员会权威机构在财政部负责制定会计准则。

中国证券监督管理委员会是中国的政府机构监管的两个股票交易所。

中国证监会还负责执行上市公司财务报告。

许多中国执行机制的有效性问题。

印度特许会计师协会,一个私营部门的专业机构,在印度发展会计准则。

印度证券交易委员会财政部的一个机构,调节印度22证券交易所和负责执行财务报告规则。

然而,目前尚不清楚如何主动的董事会是由印度公司在监督财务报告。

总的来说,五个国家不同的私人和公共部门负责管理和执行财务报告。

在若干国家执法是可疑的。

美国最强大的机制来调节和执行五个国家的财务报告。

2。

美国和印度是普通法国家,面向公允表达的财务报告。

墨西哥也有面向公允表达的财务报告,因为美国的影响力。

此外,墨西哥通货膨胀会计,与其他四个国家。

日本是一个代码法律的国家,其会计历来保守和与特征,就像其他代码法系国家(如法国和德国第三章中讨论)。

然而,它正在公允表达,因为它致力于日本会计准则与国际财务报告准则趋同。

中国同样是朝着面向公允表达的中国公认会计准则会计采用国际财务报告准则。

尽管采用公允表达原则,一个人可以质疑中国实现应用程序。

有一个严重缺乏训练有素的会计师在中国和行业仍未开发。

会计职业强在其他四个国家,包括印度和墨西哥的“发展中”国家。

3。

本章讨论的审计监督机构:答:美国公共公司会计监督委员会b .日本——注册会计师和审计监督委员会最近成立的独立审计师监管机构在美国和日本是由于最近全球会计丑闻。

都代表收紧控制审计。

4。

税收立法支付有限的作用在所有五个国家,除了日本。

在美国,除了后进先出财务和税务会计是独立的。

税收立法对财务报告实践在墨西哥几乎没有影响。

例如,财务和税务会计之间有很多差异,4比如销售成本的计算,折旧和摊销商誉。

税收立法历来的一面“三角法律制度”在日本,日本会计准则施加影响。

然而,税收下降的影响与IFRS 日本会计标准的一致性。

几年前,在中国税收立法有一些影响,但这已经减弱为中国发展一个更完整的财务报告准则。

印度,像其他普通法国家,将财务和税务会计.5．这个问题一直是学术界的兴趣持续很长一段时间。

会计专业知识是经济发展的必要前提,或者一个经济的进步没有?看起来,经济不能走的太远,没有会计专业知识。

但可能是双向的关系,就像供给创造需求,反之亦然。

中国的例子展示了发展中会计的重要性(标准、知识等)。

会计是一个在中国市场改革计划的一部分,所以需要从一开始就已经认出了。

墨西哥和印度一直以市场为导向的超过中国,和他们的会计更发达。

但是,很明显,这两个国家会计支持经济发展。

6。

英国标准(第3章)和IFRS(第八章),以反映以原则为基础的标准,美国标准(本章)是基于规则的。

一般来说,以原则为基础的标准制定总体目标和基本面和需要专业判断实施。

他们更灵活的基于规则的标准和在实践中可能会导致更多的分歧。

基于规则的标准更为具体的要求和详细的实施指导比以原则为基础的标准。

可能导致更多的可比性不是以原则为基础的标准,但据说培养“复选框”的心态。

章说,美国公认会计准则“可能比世界其他国家的总和还多,比其他任何国家更详细。

“因此,我们可以认为,美国公认会计准则是基于规则的7。

英国和美国都遵循会计公允表达,反映经济实质而不是法律形式。

英国“真实而公平”和美国“礼物相当“反映公允表达。

然而,英国有一个真正的和公平的覆盖——会计准则可以覆盖在必要时达到一个真正的和公平的视图。

在美国,提出了相当意味着遵循公认会计原则8。

最重要的(即协调项目。

,墨西哥和美国会计最重要区别)与一般物价水平会计在墨西哥的使用。

严格的使用历史成本在美国一章中提到的另外两个差异(一)墨西哥应用权益法为10%,而美国适用20%和(b)在墨西哥开发费用资本化和摊销后技术建立了可行性;在美国,他们被转移。

a. 9。

日本泡沫经济的破灭在1990年代促使日本财务报告的审查标准。

很明显,许多会计实践实际上藏严重许多日本企业是如何做的。

会计“大爆炸”旨在使日本公司的财务状况更加透明,使日本会计更符合国际惯例。

b. 实践的变化包括以下:c. 答:要求上市公司报告现金流量表。

d. b .子公司合并基于控制而不是所有权。

e. c .附属企业使用权益法核算基于影响而不是所有权。

f. d .证券投资价值的市场,而不是成本。

g. e .递延税是完全提供。

h. f .养老金和其他退休义务应计。

i.j. 9。

全面、完整的信息披露可靠、公平的信息有必要开发一个公平和有效的股票市场。

会计的“盎格鲁-撒克逊”模式(第2章中讨论),强调公平的财务状况和结果,强调管理,也促5进公平和有效的股票市场的发展。

这个会计方向的国家(如美国和英国)活跃,公平和有效率的股票市场。

还有一个法律结构和有效的执行法律和会计披露所有的工作。

k. 中国正在发展会计准则与股票市场取向上面所讨论的。

所以中国是正确的——标准本身将支持股市的发展。

此外,投资者必须有信心,标准被跟踪,即。

,信息传播公司是可靠的。

因此,良好的审计由训练有素的会计专业很重要。

中国可能有困难发展中会计职业,进而成为阻碍证券市场的发展。

中国还必须克服共产主义下的保密文化发达。

a. 9。

本章提到的一些例子,中国会计标准与世界一流的实践是一致的。

选择性列表,更重要的是以下几点: b. 答:比较合并财务报表,包括资产负债表,损益表,现金流量表,笔记。

c.b .权责发生制识别收入与费用、匹配和一致性。

d. c .采购业务组合年度减值测试方法。

e. d . nonconsolidated 子公司的权益法。

f.e .使用历史成本。

g. f .融资租赁大写。

h.12。

英国在印度对会计的影响是显而易见的。

印度的普通法法律制度和公平的陈述会计随之而来。

像英国,财务报表必须给一个真正的和公平的视图和有一个强大的自动调整的会计行业。

专业会计师(审计师)被称为注册会计师在这两个国家。

本章中所描述的财务报告和会计测量对印度非常类似于第三章中描述的英国。

a. 练习b. 1。

美国c. 财务会计准则委员会。

d. 证券交易委员会。

e. 墨西哥f. 答:理事会财务信息标准的研究和开发。

g. 没有明确的执行机构。

然而,国家银行和证券委员会调节墨西哥证券交易所。

h. 日本i. 日本会计准则理事会。

j. b .金融服务机构对上市公司在证券法律和司法部,当涉及到公司法。

k. 中国l. 答:中国财政部会计准则委员会。

m. b .中国注册会计师协会根据财政部、管辖调节审计。

6n. 印度o. 印度特许会计师协会。

p. 印度特许会计师协会。

q.2。

在撰写本文时,下面的组织与IFAC 的网站:美国管理会计师协会美国注册会计师协会会计协会的董事会墨西哥Instituto Mexicano 德康塔葡萄牙日报日本日本注册会计师协会中国中国注册会计师协会2。

五个表达式的问题、术语或短语不熟悉或不寻常的学生的祖国。

以美国为祖国,这里是十二: A .三角法律系统——的描述会计监管在日本公司法组成的相互作用,证券交易法律,企业所得税法。

b .社会主义市场经济,在中国使用来描述其计划经济与市场适应性。

c .土地和工业产权,仍属于中国政府,私人公司获得使用这些工业资产的权利。

d .比索的目前的购买力——一个术语来描述一般物价水平会计在墨西哥。

e .税务合规审计报告——墨西哥审计师必须证明没有违规行为观察关于遵守税法。

财务状况变动表-墨西哥的财务报表相对应的现金流量表。

然而,财务状况变动表是准备在不断比索(通胀调整后的),而现金流量表使用历史成本。

g .资历溢价——在墨西哥赔偿终止就业基于员工工作多长时间。

在日本h 集团公司——连锁巨头企业。

即“关系”文化在中国的关系,基于相互关系和相互职责。

j·b 股,外国投资者在中国上市公司股票。

k .真正的和公平的观点——印度的需求,财务报表存在一个真正的和公平的观点来自英国。

l .融合——在印度使用的术语合并。

74。

最重要的财务会计实践或原则与国际准则差异可能是以下几点:美国——后进先出。

由于税法考虑,没有其他国家使用后进先出后进先出在美国发现的程度降低公布业绩。

因为年龄的增长,降低库存成本是显示在资产负债表上,债务资产比率会更高。

公司使用后进先出必须报告所谓后进先出储备,使分析师将后进先出相当于FIFO 。

墨西哥——通货膨胀调整。

世界上大多数国家资产价值在历史成本和相关费用;一些国家将通货膨胀调整。

通货膨胀调整,收益将较低,可能会降低资产负债率。

不太可能分析师将能够调整墨西哥账户历史成本。

当然,这种调整是不明智的,因为高通胀。

日本——利益池方法业务组合,没有一个政党获得控制。

国际标准对所有业务组合作为一个购买。

购买会计相比,池导致更高的收入和更低的资产价值。

因此,债务资产比率会更高。

分析师将无法调整会计方法。

中国——显示土地使用权和工业产权归政府作为无形资产。

中国在多大程度上是很不寻常的政府拥有土地和工业产权。

只要这些无形资产相当重视,将没有影响公布财报收益或资产负债比。

然而,分析师必须意识到无形资产在中国公司的资产负债表是有形资产的资产负债表上来自其他国家的公司。

印度——池的利益(合并)融合的方法。

如上所述,日本,国际标准是对所有业务组合购买。