Comparative International Accounting Subsequent Edition 5th Edition Christopher Nobes, R. H. Parker - Solutions

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explain the main features of US accounting requirements
describe the main features of the presentation of US financial statements
explain the procedures for the setting and enforcement of standards in the United States, including the relationships between public and private sector institutions
7.6 If a translation of IFRS exists in a language with which you are familiar, assess the quality of the translation.
7.5 If it is found that large differences in IFRS practice exist systematically between countries, what implications does this have?
7.4 To what extent has the scope for different practice under IFRS declined over the past decade?
7.3 ‘The influence of tax on financial reporting cannot be relevant in the context of IFRS consolidated statements.’ Discuss.
7.2 Give examples of options allowed in IFRS and how they might be chosen differently in different countries.
7.1 To what extent are the reasons for different European accounting systems still relevant as reasons for different European IFRS practices?
discuss some of the implications of the existence of different national versions of IFRS
outline how international differences in monitoring and enforcement can lead to different IFRS practices;
give examples of how gaps, choices and estimations in IFRS can lead to different practices;
give examples of how different versions (including different translations) of IFRS can be in force at the same time;
explain how the potential reasons for international accounting differences, as discussed in previous chapters, might still be relevant under IFRS;
6.7 ‘In recent years, the IASC/B has clearly been moving towards the use of current values rather than historical costs.’ Discuss.
6.6 Outline all the ways that one could in principle include a joint venture in a venturer’s financial statements. Which is the best?
6.5 Is it necessary and useful to have different valuation bases for different assets?
6.4 Explain why it is necessary to define either ‘asset’ or ‘expense’ from first principles, but not both. Why has the IASB chosen to define the former?
6.3 ‘Substance over form is a recipe for failing to achieve comparability between financial statements of different enterprises.’ Discuss.
6.2 ‘Neutrality is about freedom from bias. Prudence is a bias. It is not possible to embrace both conventions in one coherent framework.’ Discuss.
6.1 Explain the purposes and uses of a conceptual framework.
explain the basic features of group accounting for subsidiaries, joint ventures and associates.
give examples of various types of liabilities that would be recognized under IFRS;
explain the definition of assets and liabilities and when such items should be recognized on statements of financial position
discuss the meaning of relevance and reliability and how they might conflict;
The chapter describes different phases in the harmonization efforts of the IASC. Required: Identify one such phase and prepare a brief report describing its importance in the overall scheme of international harmonization of accounting standards. You should consult relevant literature in preparing
The 2016 Annual Report of Daimler AG includes a report of its Supervisory Board, which explains in detail many areas of activity of the Supervisory Board in 2016. Required: a. Access the 2016 Annual Report of Daimler AG
Honda Motor Company included a separate Corporate Governance Report (CGR) in its 2017 Annual Report. First, the CGR states, among other things, the following: The company strives to enhance corporate governance as one of the most important tasks for its management, in order to achieve several
A list of foreign companies with shares traded on the New York Stock Exchange (NYSE) can be found on the NYSE’s website (www.nyse.com). Required: a. Identify a developing country in Asia, Africa, and Latin America and determine how many companies from each of those countries are listed on the
Compare the following on an international basis, identifying particular practices with particular countries: (a) the consolidation of subsidiaries; and (b) the calculation and treatment of goodwill on consolidation.
How, if at all, is compliance with accounting standards monitored in Australia, Canada and Singapore?
The great improvements in Spanish financial reporting of the 1990s were due to EU harmonization.' Discuss.
What influence has the experience of the FASB in the US had on: (a) the structure of standard-setting in Australia and Canada? (b) the content of standards in these countries?
Compare and contrast the influence of company law on financial reporting in the United Kingdom, the United States, Australia and Canada.
'Australian company financial reporting no longer retains any similarities to UK financial reporting.' Discuss.
The FASB has far more resources than standard-setting bodies in Australia, Canada and Singapore. Would it not therefore be appropriate for those countries simply to accept the FASB's standards?
Explain why accounting in each Scandinavian country is similar to that in others, and why it is not exactly the same.
Why is the IASC's influence greater in Singapore than in South Korea?
How can one explain the various similarities between financial reporting practices in Italy and in South Korea?
Why did Denmark and Spain move further and sooner towards Anglo-Saxon accounting than Sweden or Italy?
South Korean accounting owes more to Japanese influence than to American.' Discuss.
‘Systems of “inflation accounting” should use specific indices rather than general indices.’ Explain why you agree or disagree with this.
Compare the following on an international basis, identifying particular practices with particular countries:(a) the consolidation of subsidiaries; and(b) the calculation and treatment of goodwill on consolidation.
To what extent did accounting in Germany change as a result of implementation of the fourth Directive?
Compare and contrast the roles of the UK and the German professional account- ancy bodies.
German accounting is changing fast. Identify current influences on German accounting and discuss recent developments.
To what extent has accounting in the Netherlands changed as a result of imple- mentation of the EU Fourth Directive?
Dutch accounting is difficult to classify, since the accounting system and environ- ment portray features of continental European and of Anglo-American systems. Examine and explain the features that Dutch accounting shares with the two main groups, and those that set it apart.
Discuss the way the demand for fairness in accounting is expressed in Dutch regulation.
To what extent has accounting in France changed as a result of the implementa- tion of the EU fourth Directive?
Discuss why it might be so difficult fully to implement overriding concepts of fair- ness in some countries.
Why were consolidation techniques not adopted in Continental Europe until relatively recently?
What influence has the experience of the FASB in the United States had on: (a) the structure of standard-setting in the United Kingdom; (b) the content of UK standards?
Discuss the view that, given the great increase in the detail of accounting regula- tion in the United Kingdom in recent years, the 'true and fair view' override no longer serves a useful purpose.
How has the impact of international accounting standards on the UK changed since the 1970s?
In which of Mason's six vital countries are the following important, from the point of view of corporate financial reporting:(a) A Companies Act or a Commercial Code;(b) A government regulatory body or a government-appointed committee;(c) A national accounting plan;(d) An 'accounting court'? More
‘In France and Germany there are no rules on how to translate foreign subsidiaries’accounts; in the United States the rules keep changing; in the United Kingdom the same simple method has been used for a century.’ Discuss.
Why is segmental reporting more highly developed in the United Kingdom than in France?
‘In the field of accounting, the response in any country to inflation is predictable from a knowledge of the background factors causing accounting differences.’Discuss this statement, using several countries as examples.
Outline the main problems that affect historical cost accounting in times of rising prices. What solutions to these are available?
‘Latin America provides the only successful examples of inflation accounting.’Discuss.
Unlike British accounting, Japanese accounting is not a product of its environment but of outside influences.’ Discuss.
‘The great improvements in Spanish financial reporting of the 1990s are due to EU harmonization.’ Discuss.
What influence has the experience of the FASB in the US had on:(a) the structure of standard-setting in Australia and Canada?(b) the content of standards in these countries? —
Compare and contrast the influence of company law on financial reporting in the United Kingdom, the United States, Australia and Canada.
The FASB has far more resources than standard-setting bodies in Australia, Canada and Singapore. Would it not therefore be appropriate for those countries simply to accept the FASB’s standards?
How can one explain the various similarities between financial reporting practices in Italy and in South Korea?
‘South Korean accounting owes more to Japanese influence than to American’.Discuss.
To what extent has the EU seventh Directive harmonized consolidation accounting between Germany and the United Kingdom?
‘The EU seventh Directive has been a much more useful harmonizing tool than the EU fourth Directive.’ Discuss.
Discuss whether the standards of the IASC should be directed to all companies or to some defined subset of companies.
To what extent has accounting in the United Kingdom changed as a result of implementation of the EU fourth Directive?
Discuss the causes of differences in financial reporting and its regulation (giving relevant examples of the effects) between your country and the United Kingdom.
To what extent has accounting in the Netherlands changed as a result of implementation of the EU fourth Directive?
Discuss the causes of differences in financial reporting and its regulation (giving relevant examples of the effects) between your own country and the Netherlands.
What may have caused the similarities between Dutch accounting and UK accounting?
To what extent has accounting in France changed as a result of the implementation of the EU fourth Directive?
French-style accounting has more to offer developing and emerging countries than US or UK-style accounting have.’ Discuss.
To what extent has accounting in Germany changed as a result of implementation of the Fourth Directive?
Which has been more successful at harmonization: the IASC or the EU Commission?
To what extent has accounting in the United Kingdom changed as a result of implementation of the Fourth Directive?
How is compliance with accounting standards monitored in the United Kingdom?
What influence has the experience of the FASB in the United States had on:(a) the structure of standard-setting in the United Kingdom;(b) the content of UK standards?
Discuss the view that, given the great increase in the detail of accounting regulation in the United Kingdom in recent years, the true and fair view override no longer serves a useful purpose.
What have been the major changes in the regulatory framework of UK accounting since 1988?
'International and EU harmonization notwithstanding, Dutch accounting is still unique'. Discuss.
To what extent has accounting in the Netherlands changed as a result of implementation of the fourth Directive?
Why has the use of current cost accounting in external reporting in the Netherlands declined in recent years?
What may have caused the similarities between Dutch accounting and British accounting?
Comment on the view that plan-based accounting systems such as that of France have significant advantages over other accounting systems such as those of the United Kingdom or the United States.
To what extent has accounting in France changed as a result of the implementation of the fourth Directive?
Discuss the causes of differences in financial reporting and its regulation (giving relevant examples of the effects) between your own country and France.
Discuss the causes of differences between financial reporting in the Netherlands and that in France. Examine some of the major resulting differences.
Discuss the causes of differences between financial reporting in the United States and France. Examine some of the major resulting differences.
'French-style accounting has more to offer developing countries than US or UK-style accounting have'. Discuss.
Why are accounting rules in France different for individual companies and groups of companies?
To what extent has accounting in Cermany changed as a result of implementation of the Fourth Directive?
Discuss the causes of differences in financial reporting and its regulation (giving relevant examples of the effects) between your own country and Germany.
Examine the major differences (and, where possible, their causes) in corporate financial reporting and its regulation between the United States and Germany.
'German accounting rules are suitable for solely domestic companies but not for multinational enterprises . Discuss.

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Comparative International Accounting Subsequent Edition 5th Edition Christopher Nobes, R. H. Parker - Solutions

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