Annual Report Disclosures in Emerging-Market Countries is generally less extensive and less credible than disclosures of companies from developed countries Select one:
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11. Annual Report Disclosures in Emerging-Market Countries is generally less extensive and less credible than disclosures of companies from developed countries
Select one:
True
False
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- 5. Annual report disclosures in emerging-market countries is generally less extensive and less credible than disclosures of companies from developed countriesSelect one:TrueFalseDiscloses in developed countries generally more extensive and more credible than disclosures of companies from Answer:1. What impact would harmonization of national accounting standards have on international businesses? 2. Are U.S. firms at a competitive disadvantage because they cannot use accounting reserves as German firms do?
- What is the disadvantage of international accounting ? Select one : a . uniformity practice b . Harmonization c . Mobilising global resources d . Market riskA challenge facing U. S. companies adopting IFRS is ______________________________. a.certain areas exist where convergence may not be achieved b.all options are correct c.the costs incurred to do so d.the subjectivity introduced into financial reportingAny effort towards standardizing accounting practices on an international basis implies a belief that a globalized ‘one size fits all’ approach is appropriate. Is this naive?
- What does Accounting harmonization mean? Differentiate harmonization from convergence or adoption. Explain few benefits of global adoption of IFRSs.Q1. These statements true or false? explain in detail 1.To protect an industry, it is best when the Effective Rate of Protection is higher than the Normal Rate of Protection. 2. Immiserizing growth takes place when there is an increase in growth and trade of a country. 3. The formation of Free Trade Areas and Custom Unions leads to free trade between all countries.Which of the following is a true statement about International Financial ReportingStandards?a. They are considered to be the single strongest set of accounting standards in the world.b. They are more exact (contain more rules) than U.S. generally accepted accountingprinciples.c. They are converging gradually with U.S. standards.d. They are not being applied anywhere in the world yet, but soon they will be
- A key issue facing financial executives of multinational firms is exposure to exchange rate changes.a. Define exposure, differentiating between accounting and economic exposure. What role does inflation play?b. Describe at least three circumstances under which economic exposure is likely to exist? c. Of what relevance are the international Fisher effect and purchasing power parity to your answers to parts a and b? d. What is exchange risk, as distinct from exposureInternational Financial Reporting Standards are gaining support around the globe. In 2007, the SEC eliminated the requirement for foreign companies that issue stock in the United States to include in their financial statements a reconciliation of IFRS to U.S. GAAP. There also is serious discussion of allowing U.S. companies to choose whether to prepare their financial statements according to U.S. GAAP or IFRS. Required: Do you think U.S. companies should be allowed the choice of reporting under either U.S. GAAP or IFRS? Provide arguments both for and against this idea.Why do U.S. companies keep using LIFO while IFRS prohibits it? a. LIFO provides a more realistic income statement since the most recent items purchased are what is measured on the income statement. b. LIFO assigns less weight to the balance sheet. c. The taxing authority in the U.S. has conformity provisions.