1. Define the “International Accounting” and explain its content.(1)Definition of International Accounting ：Accounting is a branch of applied economics that provides information about business and financial transactions. International accounting is distinct because the information concerns a multinational enterprise(MNE) with foreign operations and transactions, or the users of the information are in a different domicile than the reporting entity. (2)Content of international accounting: ①Comparison of accounting standards ②Accounting harmonization or convergence ③International financial accounting ④International managerial accounting ⑤International auditing 2. Explain the effect factors of accounting development. Which factors are the most important for Chinese accounting development? Which factors are the least important for Chinese accounting development? Effect factors: (1)Source of finance: In countries where bank dominates source of finance, accounting focuses on creditor protection through conservative accounting measurements. (2)Legal system: The legal system determines how individuals and institutions interact. (3)Taxation: In many countries, tax legislation effectively determines accounting standards (4)Political and economic ties: Accounting ideas and technologies are transferred through conquest, commerce, and similar forces. (5)Inflation: Inflation distorts historical cost accounting and affects the tendency of a country to incorporate price changes into the accounts. (6)Level of economic development: The factor affects the types of business transactions conducted in an economy. (7)Education level: In countries with developed education, concerns for accounting information is high. (8)Culture: Culture means the values and attitu...
VIP
