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Comparative international accounting 9th Edition Christopher nobes, Robert parker - Solutions
Why is it difficult to establish a causal relationship between specific external factors and international differences in accounting? Discuss the methodological problems in identifying possible causes.
How do the causal factors discussed in the chapter affect corporate governance structures in different countries?
Are the international differences in the formats of financial statements a major obstacle to comparing the statements?
Explain, using several different accounting topics, in what ways domestic German accounting rules are more conservative than IFRS.
In what ways might classification be useful in any field of study? Use international differences in financial reporting as an illustration of your answer.
The essential problems of attempts to classify financial reporting practices across the world are related to the suitability of the data upon which such classifications have been based. Comment.
To what extent is differing national culture relevant to an understanding of the causes of accounting differences, and therefore to the process of classification of countries?
How would you judge the relative success of attempts to provide classifications in comparative international accounting?
Which of the main models of international classification of accounting do you prefer? Explain your reasoning.
When producing classifications in the field of comparative international accounting, what should one be classifying?
The countries listed below are not covered in any detail in this book. Which of the six 'vital' countries does each most closely resemble so far as accounting and corporate financial reporting are concerned? Why?Belgium ...... New ZealandBrazil ....... NigeriaFinland ...... Saudi Arabia
Do the accounting classifications suggest that there is or was such a thing as Anglo Saxon accounting?
To what extent have the accounting classifications become irrelevant because of international harmonization?
Distinguish between harmonization, standardization, convergence, adoption and EU endorsement.
Using the reconciliations of this chapter and the information in Chapter 2, comment on the adjustments necessary when moving from German or UK to US or IFRS accounting in 2004/5?
Which sort of companies might wish to list on a foreign exchange? Is this practice increasing or decreasing, and why?
Explain the purposes and uses of a conceptual framework.
Neutrality is about freedom from bias. Prudence is a bias. It is not possible to embrace both conventions in one coherent framework. Discuss.
'Substance over form is a recipe for failing to achieve comparability between financial statements of different enterprises.' Discuss.
Explain why it is necessary to define 'asset' or 'expense' from first principles, but not both. Why has the IASB chosen to define the former?
Is it necessary and useful to have different valuation bases for different assets?
Outline all the ways that one could in principle include a joint venture in a venturer's financial statements. Which is the best?
In recent years, the IASC/B has clearly been moving towards the use of current values rather than historical costs. Discuss.
US accounting is the best in the world.' Discuss.
To what extent, if at all, is US accounting influenced by accounting in other countries?
Which US accounting practices seem out of line with those of many other countries? What explanations are there for this?
Discuss the causes of differences in financial reporting and its regulation (giving relevant examples of the effects) between your own country and the United States.
The most important influence on US accounting has been and remains the SEC.' Discuss.
As pointed out in this chapter, the United States and United Kingdom are reasonably similar with respect to the causes and nature of differences of accounting.Identify and discuss factors that may account for the existing differences.
The concept of fairness is expressed differently in UK as opposed to US audit reports. Identify and discuss apparent differences and similarities.
Would you describe the differences between IFRS and US GAAP as 'major'? Will it be easy for the standard-setters to remove these differences?
To what extent is the making of rules on financial reporting in the US separated from their enforcement? What is the historical background to the present situation?
What are the arguments for and against proactive surveillance by enforcement bodies?
Why is there no pan-European accounting standards enforcement body in the European Union? Ought one to be established?
Why do the US and France have stock exchange regulators as accounting standards enforcement bodies, whereas the UK does not?
Discuss the view that the costs of establishing and maintaining accounting standards enforcement bodies are likely in most countries to exceed the benefits.
Enforcement bodies merely duplicate the work of auditors.' Discuss.
Why have several countries recently introduced auditor oversight bodies? Is this a positive or a negative development?
Explain the various motivations of those who politically lobby standard-setters.
Give examples of political lobbying of US standard-setters, explaining in what ways the lobbying went beyond arguments about the correct technical solutions.
Why might it be expected that there would be more examples of political lobbying relating to the US than to any other country?
Give examples of political lobbying of the IASC/B explaining why and how lobbying has increased over the years.
Discuss the view that political lobbying could and should be reduced by giving preparers more say in the setting of accounting standards.
Is there a connection between the amount of political lobbying in a country and the degree of independence of the standard-setter from (a) Government departments, (b) The accountancy profession?
Discuss the role of a conceptual framework as a defence against political lobbying.
Using information from this chapter and earlier ones (e.g. Chapters 2, 3 and 5), give examples of accounting topics on which there are major differences between two national accounting systems or between a national system and IFRS.
Are the arguments for differential reporting convincing? Should differentiation be made on the basis of company size or using some other characteristic?
From this and earlier chapters, explain how financial reporting profit can differ from taxable income, and how this varies internationally.
The US, UK, France and Germany have evolved different answers to the question as to which business enterprises should be subject to accounting regulation.Which country, in your opinion, has got it 'right'?
Why are UK accounting rules for individual companies not based simply on the distinction between public and private companies?
Is it useful to regulate, as for example in France, the keeping of accounting records, as well as the preparation of financial statements?
What are the arguments for and against a national accounting plan?
The UK accountancy profession no longer has any influence on the accounting rules relating to individual financial statements.' Discuss.
Compare the composition and the roles of the ASB in the UK and the CRC in France.
Compare the influence of tax law on financial reporting in the UK and Germany.
US accounting is better than German accounting.' Discuss.
Discuss the advantages and disadvantages for a country such as Germany of requiring or permitting companies to apply accounting principles based on IFRS in their individual financial statements.
Why has the ASB in the UK decided to converge UK standards for individual companies with IFRS?
Discuss the view that the individual company financial statements in Germany are useful only for tax purposes.
Why are leased assets accounted for differently in individual company financial statements in the UK and France?
The formats in the appendices, relating to three EU countries, all comply with the EU fourth Directive. Comment on the differences between them.
German accounting rules for individual companies are ideal for domestic companies with no international connections.' Discuss.
Secret reserves make a company stronger, so they should be encouraged. Discuss.
Under IAS 32, some shares are treated as liabilities and some apparent liabilities are treated as partly equity. Is this a good idea?
Under what circumstances should next year's wages and next year's repair expenses be charged as expenses this year?
Are intangible assets recognized sufficiently under IFRS and US rules?
Explain how assets are measured under IFRS. How could this be improved?
Explain the difference between 'hedging' and 'hedge accounting'. In each case, what are the arguments in favour of doing them?
Explain the differences between an allowance, a liability, a contingent liability, an obligation, a provision, an accrual, a fund and a reserve. State which set of accounting rules you have been using as the context for your answer.
Compare the degrees of prudence found in accounting for employee benefits in Germany, Italy and the United States.
Explain, using various examples, the causes of deferred tax assets and deferred tax liabilities under US accounting rules.
Examine whether a deferred tax liability arising from temporary differences on the revaluation of an asset meets the IFRS/US definition of a liability.
Discuss different possible interpretations of the concept of a group, and how these may relate to differences in styles of corporate governance and of company financing.
The EU seventh Directive was a much more useful harmonizing tool than the EU fourth Directive.' Discuss.
Why did the practice of consolidated reporting arise in the United States earlier than in France?
Compare, as between US GAAP and IFRS, the consolidation of subsidiaries and the calculation and treatment of goodwill on consolidation.
To what extent did the EU seventh Directive harmonize consolidation accounting between Germany and the United Kingdom?
One of the original aims of the seventh Directive was to assist with the control of multinational enterprises by their host countries. Examine and discuss arguments for and against such a desire for control.
Explain the alternative uses of the equity method and how these differ as between US GAAP and IFRS.
Why has there been so much controversy over currency translation methods for group accounting? Which method do you prefer?
Why has it been difficult, particularly in the United States, to create a satisfactory accounting standard on foreign currency translation?
Are gains on unsettled foreign currency balances realized? When should they be recognized as income?
Is there a single best method of currency translation?
Does accounting translation exposure matter? Explain your reasoning.
Discuss how different attitudes to prudence can affect foreign currency translation policies.
Discuss the effect of the temporal method on ratio analysis.
Before the arrival of compulsory IFRS, why was segment reporting more highly developed in the United Kingdom than in France?
How could one demonstrate that the benefits of segment reporting outweigh the costs?
Research shows that line-of-business reporting is much more useful than geographical segmental reporting.' Discuss.
Explain why standard-setters have difficulty in drafting segment reporting standards.
Using segment reporting as an example, explain how standard-setters could use research when planning to impose extra disclosure requirements.
A number of companies voluntarily prepare segment reports beyond what is required by regulation. Given the difficulties faced by regulators in developing rules for segment reporting, is regulation really necessary and/or desirable?
Discuss to what extent segment reporting is beneficial to different user/ stakeholder groups.
What effects have the major political events in the world since the end of the Second World War had on accounting and financial reporting?
In an unharmonized world, how do preparers and users of annual financial statements of listed companies cope with international differences?
What are the major difficulties met by analysts when trying to compare companies' annual reports internationally? Which areas of financial reporting could be most usefully improved to aid such analysis?
The best thing for users of annual accounts is to steer clear of foreign companies.' Discuss.
Into what languages do multinational companies translate their annual reports? Why?
Two approaches to measuring conservatism are discussed in the chapter: the comparison of profit figures under different GAAPs; and asymmetric recognition of good and bad news. What are the advantages and disadvantages of each approach?
Identify and discuss cultural and institutional factors which an analyst will have to consider before being able to isolate and examine the 'residual' behaviour attributable to a company's policies and characteristics.
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