How mining industries record the assets, liabilities, provisions and foreign exchange transactions in their books? How recording these transactions is different when compared to manufacturing companies
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How mining industries record the assets, liabilities, provisions and foreign exchange transactions in their books? How recording these transactions is different when compared to manufacturing companies
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- How recording assets, liabilities, provisions and foreign exchange transactions in the books of mining companies different when compared to manufacturing companies ?How mining industries record the assets, liabilities, provisions and foreign exchange transactions in their books?How assets, liabilities, provisions and foreign exchange transactions are recorded in the books of manufacturing companies ?
- For a business buying its raw materials in its domestic market and selling its finished goods to customers in other countries, which is easier to control, cash in (Accounts Receivable) or cash out (Accounts Payable)? Why? (And how?)What accounting issues arise for a company as a result of engaging in international trade (imports and exports)?Functional currency is the currency that influences sales price, labour, material and other costs of a company’s goods and services. (a) Explain factors that should also be considered to determine the functional currency of a foreign operation. (b) Explain what will happen if a business transaction is denominated in foreign currency but reported in functional currency.
- What are the acceptable methods of accounting for business operations in a foreign country? Choose a publicly-traded company that operates internationally and identify the impact that the foreign operations have on the financial statements. Explain.Do all transactions between US businesses and foreign parties need specific accounting processes on the side of the US businesses? Explain.How companies detect theft or fraud in industries
- How important of international trade (imports and exports) to the world economy? What accounting issues arise for a company as a result of engaging in international trade (imports and exports)? Why might a company be interested in investing in an operation in a foreign country (foreign direct investment)?What are the primary challenges that arise in accounting for and analyzing international transactions? Illustrate how differences in accounting standards, currency exchange rates, cultural factors, and regulatory requirements can impact the financial reporting and analysis of multinational companies operating in various countries.How do accounting standards and practices vary when accounting for intangible assets, such as patents, trademarks, and copyrights, and what challenges do companies face in accurately valuing and reporting these assets on their financial statements, especially in industries heavily reliant on intellectual property, like technology and entertainment?"