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Chapter 1 International Accounting and International Business 1 Introduction 1 The International Development of the Accounting Discipline 2 National Differences in Accounting Systems 5 The Evolution and Significance of International Business 6 Forms of International Involvement 9 Environmental Influences on Accounting 15 Major Development Factors 18 Accountability and Multinational Enterprises 24 Accounting Aspects of International Business 25 The Field of International Accounting 26 Summary 29 Case: Toyota''s Global Expansion Case: Ahold and the Challenges of Going Global These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 2 International Accounting Patterns, Culture and Development 34 Introduction 34 Purposes of International Classification 35 Classification of Accounting and Reporting Systems 35 Cultural Influences on Accounting Systems 41 Culture, Societal Values, and Accounting 42 International Pressures for Accounting Change 52 Summary 54 Case: General Motors and Japanese Convergence vs. Chinese Convergence Case: Inductive Methods and Deductive Methods Relating Reporting Standards to Cultural Values These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 3 Comparative International Financial Accounting I 60 Introduction 60 Anglo-American Accounting 62 Nordic Accounting 65 Germanic Accounting 67 Latin Accounting 70 Asian Accounting 72 Summary 74 Case: Reporting Standards vs. Tax Standards Case: EU Conversion These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 4 Comparative International Financial Accounting II 79 Introduction 79 Anglo-American Accounting 82 Latin Accounting 83 Asian Accounting 85 Eastern European Accounting 88 Summary 91 Case: Small GAAP vs. Large GAAP Case: Developing Countries These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 5 International Financial Statement Analysis 95 Introduction 95 International Accounting Differences and Financial Statement Analysis 96 Major Differences in Accounting Principles Around the World 99 The Impact of U.S.-U.K. Accounting Differences: A Quantitative Analysis 103 A Global Perspective on Earnings Measurement 106 A Comparative Global Analysis 108 International Accounting Differences and the Stock Market 109 Factors Influencing Measurement Differences 109 Global Accounting Convergence 110 Summary 110 Case: Alcatel and Lucent Case: Hanson and ICI These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 6 International Transparency and Disclosure 124 Introduction 124 The Meaning of Transparency 125 Disclosure in Corporate Reports 126 International Disclosure Regulation 135 Corporate Reporting Trends 139 Corporate Review Information 139 Operations Review 143 Financial Review 144 Frequency and Timeliness of Reporting 145 Growing Pressures for Transparency 145 Summary 145 Case: Infosys Technologies (India) Case: Stora Enso and the Versel Vision--A Model of Sustainability These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 7 International Accounting Standards and Global Convergence 151 Introduction 151 Governments 153 Trade Unions and Employees 167 Investors 169 Bankers and Lenders 171 Accountants and Auditors 171 The International Harmonization and Disclosure Debate 182 Summary 183 Case: European Adoption of IFRS Case: IAS 39 These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 8 International Business Combinations, Goodwill, and Intangibles 189 Introduction 190 Consolidated Financial Statements 190 Funds and Cash Flow Statements 197 Joint Venture Accounting 199 Goodwill and Intangibles 200 Goodwill 202 Brands, Trademarks, Patents, and Related Intangibles 209 Research and Development 213 Summary 216 Case: Multigroup (Switzerland) Case: Vodafone''s Operations These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 9 International Segment Reporting 223 Introduction 223 Users and Uses of Segment Information 224 The Benefits of Segment Reporting 225 The Costs of Segment Reporting 226 International Financial Reporting Standards 227 Regulations around the World 228 Segment Reporting Problems 231 The Dual-Yardstick Proposal 234 Summary 241 Case: BMW Case: Nestlé These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 10 Accounting for Foreign Currency 246 Introduction 246 Basics in Foreign Exchange 247 Foreign Currency Transactions 250 Translation of Foreign Currency Financial Statements 254 Translation Methodologies: An Overview 255 International Accounting Standards 257 Historical Development in the United States 257 Convergence 274 Summary 274 Case: Kamikaze Enterprises Case: Coca-Cola These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 11 International Accounting for Price Changes 284 Introduction 284 Impact of Inflation on the Corporation 285 Accounting Measurement Alternatives 286 International Financial Reporting Standards 289 Comparative National Regulation and Practice 291 Problems and Prospects 298 Summary 299 Case: BP Case: Fosters Brewing Group These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 12 Corporate Governance and Control of Global Operations 303 Introduction 303 Global Strategic Issues 304 Informal and Subtle Mechanisms 308 Organizational Structure 308 Corporate Governance 313 International Importance of Governance 316 Studies on International Corporate Governance Practices 317 Cross National Differences in Corporate Governance 322 Internal Controls 326 The Role of Information Technology in MNEs 328 Firm Strategy, Structure, and the Accounting Function 332 Summary 334 Case: P&G and Unilever--Restructuring for Growth Case: The Royal Dutch/Shell Scandal These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 13 Managing Foreign Exchange Exposure 342 Introduction 342 Foreign Exchange 343 Types of Hedging Exposure 353 Hedging Strategies 356 Accounting for Foreign Currency Derivatives 360 Use of Derivatives to Hedge a Net Investment 369 Disclosure of Derivative Financial Instruments 369 Summary 371 Case: Nokia''s Foreign Exchange Exposure Case: RadCo International These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 14 International Budgeting and Performance Evaluation 380 Introduction 380 The Strategic Control Process 381 Empirical Studies of Differences in Management Accounting and Control Practices Across Nations 382 Challenges of Control in the Global Firm 390 Intracorporate Transfer Pricing 397 Performance Evaluation Issues 403 Economic Value Added 405 The Balanced Scorecard 407 Summary 409 Case: Niessen Apparel Case: Global Telecom These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 15 International Auditing Issues 420 Introduction 420 The Accounting and Auditing Profession 421 Global Audit Services and the International Auditing Challenge 422 Audit Challenges: Local Business Practices and Customs 424 Audit Challenges: Currency, Language, and Law 425 Audit Challenges: Distance and Organization for Providing Audit Services 425 Audit Challenges: Audit Impediments from International Diversity,Availability, and Training of Auditors 427 Global Accounting Firms 430 Audit Standards 434 Summary 455 Case: Lucas International: Coordinating an International Audit Case: Xerox Corporation These cases can be found on the following website: www.wiley.com/college/radebaugh
Chapter 16 International Taxation Issues 464 Introduction 464 Direct Taxes 465 Indirect Taxes 468 The Avoidance of Double Taxation of Foreign Source Income 469 U.S. Taxation of Foreign Source Income 471 Tax Effects of Foreign Exchange Gains and Losses 475 Tax Incentives 477 Tax Dimensions of Expatriates 478 Intracorporate Transfer Pricing 479 Tax Planning in the International Environment 482 Summary 483 Case: Transfer Pricing Case: Midwest Uniforms These cases can be found on the following website: www.wiley.com/college/radebaugh Name and Company Index 489 Subject Index 493