Global Business Today 5th Edition Charles W. L. Hill - Solutions

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Is worldwide application of IFRS going to solve the problems of international financial analysis?
Why is it necessary to have international auditing standards?
Would it be better if international auditing standards were set by the United Nations rather than under the existing system?
Why do auditing standards differ internationally?
In what senses can certain aspects of auditing be described as 'international'?
Is it easier to reach agreement on international standards on auditing than on international accounting standards? If so, why?
Discuss the effect that the growth of multinational enterprises has had on audit firms.
The IFAC's Code of Ethics for professional accountants lists a number of fundamental auditing principles. Discuss to what extent such principles may mean different things in different countries.
What effect did the Enron affair have on the International Standards on Auditing?
Corporate tax systems differ internationally more than accounting systems differ, so it is impossible to classify them into groups.' Discuss.
There is no point in harmonizing tax systems and tax rates without harmonizing the calculation of taxable income.' Discuss.
In which countries does taxation tend to have a major influence on published company accounts? Discuss how this influence takes effect and what the position is regarding the treatment of taxation in consolidated accounts.
In what ways might classification be useful in any field of study? Use international differences in financial reporting and in corporate taxation as illustrations of your answer.
The classical system of corporation tax is useful because it causes companies to retain more profit for investment purposes.' Discuss.
Relating to the taxation of corporate income, examine international differences in:(a) The calculation of taxable income;(b) The 'system' of taxation (e.g. classical, imputation);(c) The effect of taxes on accounting valuation and measurement; and (d) the calculation of the tax numbers shown in
Explain how the international differences in tax rules might be used to advantage by a multinational company.
Explain how and why the objectives of multinational enterprises vary depending on their home countries.
What various models of control could be used to describe the organization of multinational companies? Which ones are found in practice?
In what ways does managerial accounting change by adding an international dimension?
What problems are created for performance measurement in multinationals by the existence of foreign currencies?
How might you explain the relatively low level of uses of a balanced scorecard among companies in the UK, given that they share an apparently common culture with the US and Australia?
Explain how and why the process of budgeting used by multinational enterprises varies depending on the enterprise's home country.
How do differences in power distance affect managerial accounting?
How, and to what extent, does culture provide a more useful tool for the analysis of international differences in managerial accounting than it appears to do for financial reporting?
Was the IASC successful? Explain your reasoning.
Which parties stand to gain from the international harmonization of accounting? What are they doing to achieve it?
What arguments are there against the process of international harmonization of accounting?
Discuss whether the standards of the IASB should be directed to all companies or to some defined subset of companies.
Why have the UN and the OECD interested themselves in the harmonization of accounting? How have they gone about it?
Distinguish between harmony, harmonization and standardization.
Distinguish between de jure standardization and de facto standardization, giving examples of how one or both of them can be achieved.
Is it both desirable and possible to harmonize company financial reporting in the European Union?
In what ways have pre-communist and communist accounting affected post-communist accounting in Central and Eastern Europe?
What effect, if any, has harmonization in the EU had on non-member states in Europe?
Discuss the choice of national charts of accounts in post-communist Russia and Romania.
Compare the importance of the influences of Anglo-Saxon accounting and continental European accounting in Eastern Europe during the 1990s.
How has Poland coped with the transition from communist to post-communist accounting?
Why, and to what extent, has post-communist Romania adopted Anglo-Saxon rather than French-style corporate financial reporting?
Which was more successful at harmonization until 2001: the IASC or the European Union?
Unlike US accounting, Japanese accounting is not a product of its environment but of outside influences.' Discuss.
Which factors could have been used at the beginning of the 1990s to predict the direction in which Chinese accounting would develop in the decade?
Compare and contrast the roles of the JICPA and the AICPA.
Discuss the causes of differences in financial reporting and its regulation (giving relevant examples of the effects) between your own country and Japan.
Japan is unique, so Japanese accounting is unique. Discuss.
Imagine that you are a financial analyst used to US or IFRS company statements; what difficulties would be met when assessing Japanese companies?
Discuss the classification of Japanese accounting in Nobes's (1998) model. Which features give rise to this classification, and what have Japanese accounting and its environment in common with other countries in this group?
From your knowledge of Japanese accounting, what characteristics do you think it has in terms of Gray's (1988) model?
Why did Chinese accounting develop differently from Eastern European accounting in the 1990s?
Compare the importance of the influences of Anglo-Saxon accounting and continental European accounting in Eastern Europe and in China during the 1990s.
Describe the shifts in the world economy over the past 30 years. What are the implications of these shifts for international businesses based in Great Britain? North America? Hong Kong?
The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in small firms.” Evaluate this statement.
How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes?
Ultimately, the study of international business is no different from the study of domestic business. Thus, there is no point in having a separate course on international business.” Evaluate this statement.
How might the Internet and the associated World Wide Web affect international business activity and the globalization of the world economy?
If current trends continue, China may be the world’s largest economy by 2020. Discuss the possible implications of such a development for (a) The world trading system,(b) The world monetary system, (c) The business strategy of today’s European and U.S.-based global corporations, and (d) Global
1. A decade ago the idea that medical procedures might move offshore was unthinkable. Today it is a reality. What trends have facilitated this process?2. Is the globalization of health care good or bad for patients?3. Is the globalization of health care good or bad for the American economy?4. Who
Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth. Discuss.
A democratic political system is an essential condition for sustained economic progress. Discuss.
What is the relationship between corruption in a country (i.e., bribe taking by government officials) and economic growth? Is corruption always bad?
The Nobel Prize–winning economist Amartya Sen argues that the concept of development should be broadened to include more than just economic development. What other factors does Sen Think should be included in an assessment of development? How might adoption of Sen’s views influence government
You are the CEO of a company that has to choose between making a $100 million investment in Russia or the Czech Republic. Both investments promise the same long-run return, so your choice is driven by risk considerations. Assess the various risks of doing business in each of these nations. Which
Read the Country Focus on India in this chapter and answer the following questions:a. What kind of economic system did India operate under during 1947 to 1990? What kind of system is it moving toward today? What are the impediments to completing this transformation?b. How might widespread public
Outline why the culture of a country might influence the costs of doing business in that country. Illustrate your answer with examples.
Do you think that business practices in an Islamic country are likely to differ from business practices in the United States? If so, how?
What are the implications for international business of differences in the dominant religion or ethical system of a country?
Choose two countries that appear to be culturally diverse. Compare the cultures of those countries and then indicate how cultural differences influence (a) The costs of doing business in each country, (b) The likely future economic development of that country, and (c) Business practices.
Drawing upon John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) Guide the decisions of a large oil multinational toward environmental protection, and (b) Influence the policies of a clothing company on outsourcing of manufacturing process.
Are facilitating payments ethical?
Mercantilism is a bankrupt theory that has no place in the modern world. Discuss.
Is free trade fair? Discuss.
Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition. Is such competition unfair? Do you think that this argument is in the best interests of (a) The unions, (b) The
What are the potential costs of adopting a free trade regime? Do you think governments should do anything to reduce these costs? What?
Reread the Country Focus feature on outsourcing service jobs. Is there a difference between the transference of high-paying white collar jobs, such as computer programming and accounting, to developing nations, and low paying blue-collar jobs? If so, what is the difference, and should government do
Drawing upon the new trade theory and Porter’s theory of national competitive advantage, outline the case for government policies that would build national competitive advantage in biotechnology. What kinds of policies would you recommend that the government adopt? Are these policies at variance
Do you think governments should consider human rights when granting preferential trading rights to countries? What are the arguments for and against taking such a position?
Whose interests should be the paramount concern of government trade policy—the interests of producers (businesses and their employees) or those of consumers?
Given the arguments relating to the new trade theory and strategic trade policy, what kind of trade policy should business be pressuring government to adopt?
You are an employee of a U.S. firm that produces personal computers in Thailand and then exports them to the United States and other countries for sale. The personal computers were originally produced in Thailand to take advantage of relatively low labor costs and a skilled workforce. Other
In 2004, inward FDI accounted for some 24 percent of gross fixed capital formation in Ireland, but only 0.6 percent in Japan. What do you think explains this difference in FDI inflows into the two countries?
Compare and contrast these explanations of horizontal FDI: the market imperfections approach, Vernon’s product life-cycle theory, and Knickerbocker’s theory of FDI. Which theory do you think offers the bestexplanation of the historical pattern of FDI? Why?
Read the opening case on Starbucks and then answer the following questions:a. Initially Starbucks expanded internationally by licensing its format to foreign operators. It soon became disenchanted with this strategy. Why?b. Why do you think Starbucks has now elected to expand internationally
You are the international manager of a U.S. business that has just developed a revolutionary new personal computer that can perform the same functions as existing PCs but costs only half as much to manufacture. Several patents protect the unique design of this computer. Your CEO has asked you to
1. Which theoretical explanation, or explanations, of FDI best explains Cemex’s FDI?2. What is the value that Cemex brings to a host economy? Can you see any potential drawbacks of inward investment by Cemex in an economy?3. Cemex has a strong preference for acquisitions over greenfield ventures
NAFTA has produced significant net benefits for the Canadian, Mexican, and U.S. economies. Discuss.
What are the economic and political arguments for regional economic integration? Given these arguments, why don’t we see more substantial examples of integration in the world economy?
What effect is creation of a single market and a single currency within the EU likely to have on competition within the EU? Why?
Do you think it is correct for the European Commission to restrict mergers between American companies that do business in Europe?
How should a U.S. firm that currently exports only to ASEAN countries respond to the creation of a single market in this regional grouping?
How should a firm with self-sufficient production facilities in several ASEAN countries respond to the creation of a single market? What are the constraints on its ability to respond in a manner that minimizes production costs?
After a promising start, MERCOSUR, the major Latin American trade agreement, has faltered and made little progress since 2000. What problems are hurting MERCOSUR? What can be done to solve these problems?
Would establishment of a Free Trade Area of the Americas (FTAA) be good for the two most advanced economies in the hemisphere, the United States and Canada? How might the establishment of the FTAA impact the strategy of North American firms?
The interest rate on South Korean government securities with one-year maturity is 4 percent, and the expected inflation rate for the coming year is 2 percent. The interest rate on U.S. government securities with one-year maturity is 7 percent, and the expected rate of inflation is 5 percent. The
Two countries, Great Britain and the United States, produce just one good: beef. Suppose the price of beef in the United States is $2.80 per pound and in Britain it is £3.70 per pound.a. According to PPP theory, what should the dollar/pound spot exchange rate be?b. Suppose the price of beef is
You manufacture wine goblets. In mid-June you receive an order for 10,000 goblets from Japan. Payment of ¥400,000 is due in mid-December. You expect the yen to rise from its present rate of $1 = ¥130 to $1 = ¥100 by December. You can borrow yen at 6 percent a year. What should you do?
You are the CFO of a U.S. firm whose wholly owned subsidiary in Mexico manufactures component parts for your U.S. assembly operations. The subsidiary has been financed by bank borrowings in the United States. One of your analysts told you that the Mexican peso is expected to depreciate by 30
1. Could SMS Elotherm have taken steps to avoid the position in which it eventually found itself? What are those steps? Why do you think the company did not take these steps?2. Why was Keiper weathering the rise of the euro better than SMS?3. In retrospect, what might Keiper have done differently
Why did the gold standard collapse? Is there a case for returning to some type of gold standard? What is it?
What opportunities might current IMF lending policies to developing nations create for international businesses? What threats might they create?
Do you think the standard IMF policy prescriptions of tight monetary policy and reduced government spending are always appropriate for developing nations experiencing a currency crisis? How might the IMF change its approach? What would the implications be for international businesses?
Debate the relative merits of fixed and floating exchange rate regimes. From the perspective of an international business, what are the most important criteria in a choice between the Critical Thinking and Discussion Questions systems? Which system is the more desirable for an international

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