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ID:58812324
大小:2.63 MB
页数:51页
时间:2020-10-01
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1、InternationalAccounting,6/eFrederickD.S.ChoiGaryK.MeekChapter8:GlobalAccountingandAuditingStandards1LearningObjectivesDefineandunderstandthedistinctionbetween“harmonization”and“convergence”astheyapplytoaccountingstandards.Statetheprosandconsofadoptinginternationalac
2、countingstandards.Understandwhatismeantby“reconciliation”and“mutualrecognition”ofdifferentsetsofaccountingstandards.2Identifythesixorganizationsthathaveleadingrolesinsettinginternationalaccountingstandardsandpromotinginternationalaccountingconvergence.Describethestr
3、uctureoftheInternationalAccountingStandardsBoardandhowitsetsInternationalFinancialReportingStandards.UnderstandthemajorprovisionsoftheU.S.Sarbanes-OxleyActandwhysimilarlegislationisbeingenactedinothercountries.3Standardization,Harmonization,andConvergenceStandardiza
4、tionRigid,narrowsetofrulesOne-size-fits-allapproachLessflexiblethanharmonizationorconvergenceNotthecurrentthinking4HarmonizationStandardsthatarecompatible–nologicalconflictsMeanstheeliminationofdifferencesamongexistingaccountingstandardsConvergenceMeansthegradualeli
5、minationofdifferencesinaccountingstandardsButmightalsoinvolveanewaccountingtreatmentnotinanycurrentstandardInvolvescooperativeeffortsofIASBandnationalstandard-settersNowthepreferredtermoverharmonization5ASurveyofInternationalConvergenceAdvantagesofinternationalconve
6、rgenceInvestorunderstandingandconfidenceisimproved.Investordecisionmakingisimproved.Capitalisallocatedmoreefficientlyaroundtheworld.Financialriskandcostofcapitalarereduced.Strategicdecisionmakinginmergersandacquisitionisimproved.6CriticismsofinternationalstandardsSo
7、lutionistoosimpleforsuchacomplexproblem.Stripsaccountingofitsflexibilitytoadapttodifferentsituations.Challengesnationalsovereignty.Atacticoflargeaccountingfirmstoexpandtheirmarketshare.Maycreatestandardsoverload.7ASurveyofInternationalConvergenceReconciliationandmu
8、tualrecognitionReconciliationFinancialstatementsbasedonhomeGAAP,butnetincomeandstockholders’equityreconciledtoanotherGAAP.ThisistheSECrequ
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