Global Accounting and Control A Managerial Emphasis

, by Gray, Sidney J.; Salter, Stephen B.; Radebaugh, Lee H.

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ISBN: 9780471128083 | 0471128082
Cover: Paperback
Copyright: 1/25/2001

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"International Bulletins" provide current and relevant side bars to enliven discussion and enhance learning. * Exercises and cases are provided at the end of every chapter.

Sidney J. Gray, Ph.D., is Professor of International Business and Head of the School of International Business in the Faculty of Commerce and Economics at the University of New South Wales. He is also foundation Co-Director of the Australian Centre for International Business(a collaborative venture with the University of Melbourne). Professor gray has published in many leading journals around the world, and is the author/co-author of a number of books, including International Accounting and Multinational Enterprises and Financial Accounting: A Global Approach. In 1994 he as named "Outstanding International Accounting Educator" by the American Accounting Association. Stephen B. Salter, Ph.D., is an Associate Professor in Accounting and Executive Director of the University of Cincinnati, College of Business Center for Global Competitiveness. He has a Ph.D. in International Business and Accounting from the University of South Carolina. Dr. Salter has published more than 20 articles in a variety of global journals, including the Journal of International Business Studies and the International Journal of Accounting. Dr. Salter's recent research has focused on examining the validity of American-based cultural and control paradigms in a non-US environment. Lee Radebaugh, Ph.D., is the Director of the School of Accountancy and Information Systems and KPMG Professor of Accounting at Brigham Young University. In addition, he is the Executive Director of the BYU Center for International Business Education and Research (CIBER). Professor Radebaugh is co-author of International Business Environments and Operations and International Accounting and Multinational Enterprises, and is the co-author of seven books on Canada-U.S. trade and investment relations. In 1998 he was named the "Outstanding International Educator" of the International Section of the American Accounting Association, and "International Person of the Year" by the World Trade Association of Utah.

Global Business: Accounting and Control Issues

(12)

Introduction

(2)

Doing Business in the Global Economy

(1)

Trade

(1)

Strategic Alliances and Collaborative Arrangements

(1)

Foreign Direct Investment

(1)

Portfolio Investment

(1)

Choosing a Method of Business Involvement in the Global Economy

(2)

Trade

(1)

Strategic Alliances and Collaborative Arrangements

(1)

Moving to Foreign Direct Investment

(1)

Multinational Enterprises

(1)

What Are Multinational Enterprises and How Important Are They?

(1)

Unique Issues for the Multinational

(1)

Accounting and Control in Global Business

(3)

Accounting, Control, and Corporate Global Involvement

(2)

Conclusions

(1)

Summary

(1)

Discussion Questions

(1)

Exercises

(1)

References and Further Reading

(1)

Some Useful Internet Web Sites

(1)

Foreign Currencies and Exchange Risk Management

(14)

Introduction

(8)

Foreign Exchange Risks and Solutions

(1)

Exporting Problems

(3)

Derivative Markets (Forward Contacts, Futures, and Options): What Is a Derivative?

(1)

Forward Contracts and Forward Market

(2)

Futures

(1)

Foreign Currency Swaps

(1)

Options

(2)

Foreign Exchange Risk and the Multinational Enterprise

(1)

Classifying Risk and Exposure

(1)

Conclusions

(1)

Summary

(1)

Discussion Questions

(1)

Case: Barings Bank

(2)

References and Further Reading

(1)

Some Useful Internet Web Sites

(1)

Global Organization, Coordination, and Control

(20)

Introduction

(1)

Organizational Structure

(4)

Domestic Structure

(1)

International Division Structure

(1)

Global Structure

(2)

Centralization versus Decentralization

(3)

Firm Structure and the Accounting Function

(2)

Centralization, Strategy, and the Accounting Function

(1)

The Use of Informal Controls

(1)

Management Information Systems and the Global Firm

(4)

Theories and Realities of Global Information Processing

(1)

MNEs and Transborder Data Flows

(1)

Management Information Systems and the Strategy of the Firm: Some Final Thoughts

(2)

Conclusions

(1)

Summary

(1)

Discussion Questions

(1)

Exercises

(1)

Case: Procter & Gamble 2005

(3)

References and Further Reading

(1)

Some Useful Internet Web Sites

(2)

Comparative International Management Accounting

(25)

Introduction

(2)

What Is Management Accounting?

(1)

Management Control

(1)

Does Management Accounting Mean Management Control?

(1)

Culture, Markets, and Control

(4)

An Introduction to Culture

(1)

Culture and Control

(3)

Empirical Studies of Differences in Management Accounting and Control Practices across Nations

(6)

Setting Objectives: A Global Overview

(3)

The Budget Process across Countries: Basics

(1)

Cross-National Studies of Participation in Budgeting

(1)

Other Issues in the Budgeting Process

(2)

Conclusions

(1)

Summary

(1)

Discussion Questions

(1)

Case: The Ameripill Company

(10)

References and Further Reading

(1)

Some Useful Internet Web Sites

(1)

Planning and Performance Evaluation in Multinational Enterprises

(24)

Introduction

(1)

The Strategic Control Process

(1)

Challenges of Control in the Global Firm

(8)

Planning and Budgeting Issues

(2)

Ways to Bring Foreign Exchange into the Budgeting Process

(5)

Budget and Currency Practices

(1)

Capital Budgeting

(1)

Intracorporate Transfer Pricing

(3)

Matching Price to Market Conditions

(1)

Allocation of Overhead

(1)

Cross-National Allocation of Expenses

(1)

Costing

(2)

Target Costing

(1)

Quality

(1)

Performance Evaluation Issues

(3)

Separating Managerial and Subsidiary Performance

(1)

Properly Relating Evaluation to Performance

(1)

Emerging Trends in Performance Evaluation

(1)

Economic Value Added

(1)

Conclusions

(1)

Summary

(1)

Discussion Questions

(1)

Exercises

(1)

Case: Niessen Apparel

(1)

References and Further Reading

(1)

Some Useful Internet Web Sites

(1)

Taxation and the Multinational Enterprise

(19)

Introduction

(1)

Direct Taxes

(3)

Corporate Income Tax

(1)

What Income Is Taxable?

(1)

Determination of Expenses

(1)

Withholding Tax

(1)

Indirect Taxes

(1)

Value-Added or Goods and Services Taxes

(1)

The Avoidance of Double Taxation of Foreign Source Income

(2)

Credits and Deductions

(2)

Tax Treaties

100

(1)

Minimizing Global Tax

100

(2)

Tax Haven Concept

100

(1)

Tax Incentives

101

(1)

The Controlled Foreign Corporation

102

(1)

Tax Dimensions of Expatriates

102

(1)

Intracorporate Transfer Pricing

102

(3)

Tax Considerations in Transfer Pricing Decisions

103

(1)

U.S. Rules

103

(2)

Tax Planning in the International Environment

105

(1)

Choice of Methods of Servicing Foreign Markets

105

(1)

Transfer Pricing

106

(1)

Conclusions

106

(1)

Summary

107

(1)

Discussion Questions

108

(1)

Exercises

108

(1)

Case: Midwest Uniforms

109

(4)

References and Further Reading

113

(1)

Some Useful Internet Web Sites

113

(1)

Global Financial Statement Analysis

114

(27)

Introduction

114

(2)

Environmental Influences on Financial Reporting

116

(2)

Classification of Financial Reporting Systems

118

(3)

Nobes Model

118

(1)

Gray Model

119

(2)

Financial Reporting Values and International Classification

121

(1)

Major Differences in Financial Reporting

122

(4)

Format

122

(3)

Measurement

125

(1)

Impact of Accounting Differences

126

(3)

Conservatism and SEC Form 20-F

127

(2)

Global Harmonization

129

(4)

Conclusions

133

(2)

Summary

135

(1)

Discussion Questions

135

(1)

Exercises

136

(1)

Case: British Telecom

137

(2)

References and Further Reading

139

(1)

Some Useful Internet Web Sites

140

(1)

Global Transparency and Disclosure

141

(28)

Introduction

141

(1)

Disclosure in Corporate Reports

141

(5)

Importance of Information Disclosures

143

(1)

Managerial Incentives to Disclose Information

143

(1)

Costs of Information Production

144

(1)

Competitive Disadvantage of Disclosure

144

(1)

Managerial Attitudes to Voluntary Disclosures

145

(1)

International Disclosure Regulation and Reporting Trends

146

(9)

Corporate Review

150

(4)

Operations Review

154

(1)

Financial Review

155

(1)

Segmental Reporting

155

(8)

Users and Uses of Segmental Information

155

(1)

Benefits of Segmental Reporting

156

(1)

Costs of Segmental Reporting

156

(1)

U.S. Requirements

157

(1)

U.K. Requirements

157

(1)

Requirements Around the World

158

(1)

IASC Requirements

158

(5)

Conclusions

163

(1)

Summary

164

(1)

Discussion Questions

164

(1)

Case: Nestle

165

(2)

References and Further Reading

167

(1)

Some Useful Internet Web Sites

168

(1)

Foreign Currency Accounting and Exchange Rate Changes

169

(30)

Introduction

169

(1)

Accounting for Foreign Exchange Transaction Risk

169

(5)

Aloha Company Problem

171

(1)

Comparative National Differences

171

(1)

Hedging and Derivatives for Foreign Currency Transactions

172

(1)

Accounting for Hedges and Derivatives: U.S. Approach

173

(1)

Comparative National Practices

174

(1)

International Accounting Standards

174

(1)

Accounting for Foreign Exchanges Translation Risk

174

(7)

Translation Methodologies: Overview

175

(1)

Temporal Method

175

(1)

Current Rate Method

175

(1)

Translation Process: Temporal Method

176

(3)

Translation Process: Current Rate Method

179

(2)

Translation Process: Global Overview

181

(3)

United States

181

(1)

Europe in General

182

(1)

United Kingdom

182

(1)

Canada

183

(1)

International Accounting Standards

184

(1)

Conclusions

184

(1)

Summary

184

(1)

Discussion Questions

185

(1)

Exercises

185

(1)

Case: Piparo International

186

(1)

Case: Yarmouth Woolens

186

(12)

References and Further Reading

198

(1)

Some Useful Internet Web Sites

198

(1)

Auditing and the Multinational Enterprise

199

(18)

Introduction

199

(1)

The Global Audit

199

(1)

Services of the Global Audit Firm

199

(1)

Challenges to Auditing the Multinational Enterprise

200

(6)

Audit Challenges: Local Business Practices and Customs

200

(1)

Audit Challenges: Currency, Language, and Law

201

(1)

Audit Challenges: Distance and Organization for Providing Audit Services

202

(1)

Audit Challenges: Audit Impediments from Cross-National Diversity, Availability, and Training for Auditors

203

(3)

Global Audit Firms

206

(3)

Introduction

206

(1)

Strategies of the Global Audit Firm

206

(1)

Structure of the Audit Industry

207

(2)

IFAC and the External Auditor

209

(1)

Conclusions

210

(1)

Summary

210

(1)

Discussion Questions

211

(1)

Case: Bell Canada Enterprises

212

(2)

References and Further Reading

214

(1)

Some Useful Internet Web Sites

215

(2)

Index

217

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Global Accounting and Control A Managerial Emphasis

Summary

Author Biography

Table of Contents

Supplemental Materials