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Tables of Contents for Global Accounting and Control
Chapter/Section Title
Page #
Page Count
Global Business: Accounting and Control Issues
1
12
Introduction
1
2
Doing Business in the Global Economy
1
1
Trade
1
1
Strategic Alliances and Collaborative Arrangements
2
1
Foreign Direct Investment
2
1
Portfolio Investment
3
1
Choosing a Method of Business Involvement in the Global Economy
3
2
Trade
3
1
Strategic Alliances and Collaborative Arrangements
3
1
Moving to Foreign Direct Investment
4
1
Multinational Enterprises
5
1
What Are Multinational Enterprises and How Important Are They?
5
1
Unique Issues for the Multinational
6
1
Accounting and Control in Global Business
6
3
Accounting, Control, and Corporate Global Involvement
7
2
Conclusions
9
1
Summary
9
1
Discussion Questions
9
1
Exercises
10
1
References and Further Reading
10
1
Some Useful Internet Web Sites
11
1
Foreign Currencies and Exchange Risk Management
12
14
Introduction
12
8
Foreign Exchange Risks and Solutions
12
1
Exporting Problems
12
3
Derivative Markets (Forward Contacts, Futures, and Options): What Is a Derivative?
15
1
Forward Contracts and Forward Market
16
2
Futures
18
1
Foreign Currency Swaps
18
1
Options
18
2
Foreign Exchange Risk and the Multinational Enterprise
20
1
Classifying Risk and Exposure
20
1
Conclusions
21
1
Summary
22
1
Discussion Questions
22
1
Case: Barings Bank
23
2
References and Further Reading
25
1
Some Useful Internet Web Sites
25
1
Global Organization, Coordination, and Control
26
20
Introduction
26
1
Organizational Structure
26
4
Domestic Structure
27
1
International Division Structure
27
1
Global Structure
28
2
Centralization versus Decentralization
30
3
Firm Structure and the Accounting Function
33
2
Centralization, Strategy, and the Accounting Function
33
1
The Use of Informal Controls
34
1
Management Information Systems and the Global Firm
35
4
Theories and Realities of Global Information Processing
36
1
MNEs and Transborder Data Flows
37
1
Management Information Systems and the Strategy of the Firm: Some Final Thoughts
37
2
Conclusions
39
1
Summary
39
1
Discussion Questions
40
1
Exercises
40
1
Case: Procter & Gamble 2005
41
3
References and Further Reading
44
1
Some Useful Internet Web Sites
44
2
Comparative International Management Accounting
46
25
Introduction
46
2
What Is Management Accounting?
46
1
Management Control
47
1
Does Management Accounting Mean Management Control?
47
1
Culture, Markets, and Control
48
4
An Introduction to Culture
48
1
Culture and Control
49
3
Empirical Studies of Differences in Management Accounting and Control Practices across Nations
52
6
Setting Objectives: A Global Overview
52
3
The Budget Process across Countries: Basics
55
1
Cross-National Studies of Participation in Budgeting
55
1
Other Issues in the Budgeting Process
56
2
Conclusions
58
1
Summary
59
1
Discussion Questions
59
1
Case: The Ameripill Company
59
10
References and Further Reading
69
1
Some Useful Internet Web Sites
70
1
Planning and Performance Evaluation in Multinational Enterprises
71
24
Introduction
71
1
The Strategic Control Process
71
1
Challenges of Control in the Global Firm
72
8
Planning and Budgeting Issues
72
2
Ways to Bring Foreign Exchange into the Budgeting Process
74
5
Budget and Currency Practices
79
1
Capital Budgeting
80
1
Intracorporate Transfer Pricing
80
3
Matching Price to Market Conditions
81
1
Allocation of Overhead
82
1
Cross-National Allocation of Expenses
82
1
Costing
83
2
Target Costing
84
1
Quality
85
1
Performance Evaluation Issues
86
3
Separating Managerial and Subsidiary Performance
87
1
Properly Relating Evaluation to Performance
88
1
Emerging Trends in Performance Evaluation
88
1
Economic Value Added
89
1
Conclusions
90
1
Summary
90
1
Discussion Questions
91
1
Exercises
91
1
Case: Niessen Apparel
92
1
References and Further Reading
93
1
Some Useful Internet Web Sites
94
1
Taxation and the Multinational Enterprise
95
19
Introduction
95
1
Direct Taxes
95
3
Corporate Income Tax
95
1
What Income Is Taxable?
96
1
Determination of Expenses
97
1
Withholding Tax
97
1
Indirect Taxes
98
1
Value-Added or Goods and Services Taxes
98
1
The Avoidance of Double Taxation of Foreign Source Income
98
2
Credits and Deductions
98
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