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Comparison with the Corporate Governance System in Malaysia and Switzerland (similarities
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- Discuss whether it would be desirable to have one model of corporate governance applicable to all countries?Please compare and contrast the corporate structure of United States and Japan. What are the advantages and disadvantages of each?ASSIGNMENT Explain briefly how these factors can influence the adoption of IFRS by a country. Extent of economic development Nature of domestic business ownership and financing systems Colonial inheritance Cultural differences Legal systems Tax policies or laws Sources of funding Huge cost of developing own standards
- Where are the EU regulations successful in ensuring financial statement comparability between enterprises based in many countries? What are your reasons for or against?Which of the following historical reasons for accounting diversity could explain why accounting standards would be more detailed in some countries than in others?a. Different rates of inflation across countries.b. Different legal systems across countries.c. Differences across countries in the extent to which financial statements are the basis for taxation.d. Political and economic ties between countries.What are some of the issues that arise in evaluating and maintaining control over foreign operations? Why might a company want its stock listed on a stock exchange outside of its home country? What would be the advantages of having a single set of financial reporting standards used worldwide?
- What is the purpose of having a two-tier system of boards of directors in countries such as Germany? How does the dual-board approach ameliorate the potential conflicts in the principal-agent relationship between investor and manager?Which of the following historical reasons for accounting diversity could explain why accounting standards would be more detailed in some countries than in others? Choose the correct.a. Different rates of inflation across countries.b. Different legal systems across countries.c. Differences across countries in the extent to which financial statements are the basis for taxation.d. Political and economic ties between countries.According to the simplified model of accounting diversity, what are two important factors influencing differences in accounting systems across countries? Please explain the two factors rather than just listing.
- Which TWO of the following statements would be an advantage of adopting IFRS Standards? i) It would be easier for investors to compare the financial statements of companies with those of foreign competitors. ii) Cross-border listing would be facilitated. iii) Accountants and auditors would have more defence in case of litigation. iv) The IFRS Standards can be more easily tailored to reflect the industries of the territory adopting them.Discuss the impact of globalization on accounting theory and the need for harmonization of accounting standards across different jurisdictions.Please explain the roles with examples of corporate governance in mitigate risks when analysing foreign financial statements.