Week 1 IP1 Internat

13   XYZ Corporation is a U.S.-based corporation. It has decided to move some of its accounting operations abroad. The company will continue to use U.S. GAAP for external reporting purposes. Should the company insist that the employees located in the international locations follow the U.S.-based corporate culture? Explain?

Q1-2 Consider the following hypothetical information on the national income account for Canada. Category Billions of $ Consumption spending 400 Investment spending 50 Government spending on goods & services 80 Exports 230 Imports 80 Factor income receipts from abroad 20 Factor income payments abroad 10 Net unilateral transfers 5 What is Canada's current account?   a. $165 b. $150 c. $15 d. $695

Choose the correct. According to the IFRS Foundation, approximately how many countries either require or permit the use of IFRS by publicly traded companies?a. 40 countries.b. 80 countries.c. 115 countries.d. 195 countries.

Argentina's commercial code requires all publicly listed companies to provide Annual reports  Quarterly reports Monthly report Twice a year annual report     Prior to the revision by International Accounting Standard Board in 2003 and 2004. Malaysian Accounting Standard Board adopted standards. of FPS 32 standards 26 standards 22 standards 0 standards   The accounting systems of developing nations or emerging markets can be best described by Questionable integrity and transparency in financial reports Reaching full potential in international markets  Ease of obtaining international capital Going through highly intensive standard setting process   Institute of Chartered Accountants in Inda is a ful member of which of the following accounting body Accounting Standards Committee Intemational Accounting standard board International Federation of Accountants Financial Accounting standard board

116-International businesses has developed their image in controlling world economies. It not only affects the GDP of the host country, but also brings foreign reserves to the parent country. With the increase of international activities by the multinational companies and their ultimate effect on economies, there was a need to a. Uniformity of accounting practices so that comparability should be easy b. Taxation laws must be enforced in such a way that all governments must be satisfied c. Sales volume in the local market must be enhanced d. None of the options

12 Discuss different forms of risk that any multinational enterprise might be exposed to the recent geopolitical tension in Ukraine and Russia.    Please solve in 45 mins will thumbs up no plagiarism please.

Efforts to improve global financial system hampered by Covid-19 James Langton October 7, 2020 Global policymakers’ effort to enhance oversight of financial markets by improving data collection, which was launched in the wake of the 2008 financial crisis, is being disrupted by the current Covid-19 crisis. According to a new report from the Financial Stability Board (FSB) and the International Monetary Fund (IMF), the pandemic has created “significant challenges” for the ongoing effort to improve oversight of the global financial system — a project known as the G20 Data Gaps Initiative (DGI). The primary objective of the DGI is to ensure that policymakers have access to reliable and timely statistics, enabling them to better monitor for systemic risk, and to assess vulnerabilities, interconnections, and potential spillovers in the financial system. The report said that lockdowns in response to the pandemic have hampered data collection and required a shift in resources to other…

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.

. Answer question between 70 to 100 words in your own language 1- Discus the role of the Muscat Securities Market in bringing out development of the Industrial sector Oman.

International Accounting Standards and Bonus Compensation The International AccountingStandards Board (ww.ifrs.org) is a London-based independent organization that develops and interprets International Financial Reporting Standards (IFRS). The mission of the IASB is to develop asingle set of high-quality, globally accepted accounting standards. About 150 countries throughoutthe world either permit or require IFRS for publicly held companies in their country. The U.S.continues to use generally accepted accounting principles (GAAP) as developed by the U.S.-basedFinancial Accounting Standards Board (FASB). The FASB, under the guidance of the SEC, hasdeveloped a plan in which the FASB and the IASB work together to complete a convergence ofIFRS and GAAP. The timetable for convergence is not firmly set, but many believe it may be onlya matter of time before U.S. firms will be using IFRS or something very much like it. Some of thenotable differences between GAAP and IFRS are that IFRS does…

12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 X BANK DTH DOLAR XXX120 02 INTERNATIONAL BUYER XXX646 02 IR. CHANGE DIFFERENCE XXXWhich transaction does the journal entry belong to? A) Collection record of the export in the current periodB) Import fee transfer recordC) Foreign income registrationD) Recording of the return of the export priceE) Registration of collection in the next period of the export

2.Explain the environmental factors that lead to national differences in accounting.   3.What are the two main legal systems operating worldwide? How might these affect accounting?   Countries that rely on capital markets for finance, as opposed to banks and governments, are likely to expect greater levels of public disclosure in their accounting systems. Evaluate this argument and provide examples.   5.Outline and discuss three cultural aspects that can differ across countries. How do these cultural differences relate to differences in accounting systems?   6.What does accounting harmonisation mean? Differentiate harmonisation from convergence or adoption.   7.Explain the bene­fits of global adoption of IFRSs.   8. Outline the key challenges of US GAAP and IFRS convergence.

Q1 B) Explain what are the benefits derived from the merger program in the Malaysianbanking sector.  Answer should be written with proper examples and elaborations. Thank you for your hard work.

Differentiate between Riba-al-Nasia and Riba-al-Fadl with examples of each. What is the role of Market Practice in Riba? During COVID-19, following economic relief packages were delivered by different states. Ehsaas Emergency Cash program has been launched by the Prime Minister of Pakistan on April 1, 2020. United States issued $1200 checks to Americans. The UK government committed £30 billion to saving jobs and helping the young find work in an economy ravaged by the corona virus pandemic. Do you find any type of Riba involved in any of these packages? If yes, which one? How? (you can explore the details of these packages).