One of Oman based company is about to start investment in the international market. The company is very old in Oman but new in international market. It is also one of the requirements of the international market to shift accounting standards to International financial reporting standard. The company is not taking this task as challenge because
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- 114-One of Oman based company is about to start investment in the international market. The company is very old in Oman but new in international market. It is also one of the requirements of the international market to shift accounting standards to International financial reporting standard. The company is not taking this task as challenge because a. Only terminologies will be changed b. None of the options c. The process does not require much efforts d. Training staff on shifting to this standard doesn't cost muchOne of your clients has recently read about the goal of converging to International Accounting Standards and they are concerned about what impact it may have on their company. 1. Discuss some of the costs that a company might incur as part of its converging with International Accounting Standards. 2. Discuss why it might be important to your client to adopt International Accounting Standards even though they are currently only operating domestically throughout the central part of the United States.You work for firm XYZ situated in Australia, and your boss has become concerned about the current economic environment, especially as it relates to the different types of exposures that your firm may face in the near future. You are asked to provide a report, which evaluates how your firm is exposed, and what are possible hedging strategies. Below are some details about the financial/economic environment of the firm: Firm XYZ: 1. Your firm sells goods domestically and abroad. 2. The firm has a payment due in 3 months time worth 400,000 EUR to foreign supplier. 3. A U.S. importer owes the firm 300,000 USD, due in 4 months. Economic environment: 1. RBA is considering implementing an expansionary monetary policy by lowering the cash rate. 2. Economic growth of your foreign markets, where you export your goods, has declined relative to domestic economic growth. 3. The firm is considering issuing 500,000 USD bonds with a maturity of 1 year. Use the information above to consider the types of…
- DeltaTel a subsidiary of a multinational company supplies phone services to a mid-sized community in Ghana. John, the CEO attended a trade exhibition, ‘Automated Emigrate’ in Japan. As a result, John is concerned about DeltaTel’s ability to maintain its competitive position in the Ghanaian market. Owing to deregulation in the industry, and aggressive competition, a significant number of DeltaTel’s customers have switched. John feels that if DeltaTel were to invest fully in a new state–of–the–art fiber-optics technology as well as upgrade the latest computer equipment, the loss of market share may be arrested and operating efficiency may be improved. He contacted a leading vendor of fiber-optics systems and associated computer equipment to obtain information on operating characteristics and costs. This vendor would provide the necessary fiber-optic equipment, all associated installation costs, computer hardware, and initial software support for a total cost of GHS30,000,000. Although…Delta Telephone ltd. ,a subsidiary of a multinational company is a supplier of telephone services to a medium sized community in Ghana. John Dela , the chief executive of the company has just attended a trade exhibition entitled ‘Automated Emigrate’ in Japan. As a result of what he learned from the exhibition and information he has picked from his peers in other companies , Mr Dela is concerned about Delta’s ability to maintain its competitiveness position in the telecommunication market in Ghana. Owing to deregulation in the telecommunication industry and the aggressive action of new competitors in the local area, a significant number of Delta’s customers have switched to other suppliers of telephone and related telecommunication services. Mr Dela feels that if Delta were to invest fully in new state- of –the- art fiber-optics technology as well as upgrade in the latest computer equipment , the loss of market share may be arrested and operating efficiency may be improved…Goldworld Mining Inc. (GMI) is a new, privately owned gold mining company that willprepare its financial statements using ASPE. GMI’s head office was set up in theNorthwest Territories, but it also began mining operations in the United States andSouth America. There are only two individuals in GMI’s accounting department: acontroller and an accounting clerk. GMI’s chief financial officer has some doubts aboutthe controller’s understanding of complex accounting issues given some errors thatwere identified in the last few months.GMI has a loan outstanding from RD Bank that has two loan covenants: GMI’sdebt-to-equity ratio CANNOT exceed 1.5:1, and GMI must maintain a current ratio of atleast 2:1.GMI requires additional capital to finance its operations and is planning on going publicin the near future. GMI’s controller is preparing GMI’s first set of annual financialstatements for the current year ended December 31.Required:Evaluate the two accounting options available for GMI to report…
- Engineering company in Oman is involved in local and export business with subcontinent countries India, Pakistan and Bangladesh. In the tough domestic and international business competition, Engineering company is facing different industrial, international, domestic and firm-specific risks. Required: In view of facing above risks, what prudent strategies should be adopted by the management of Engineering company for its survival and consistent growth? (answer this question in bullets rather in paragraph)Tovar Cie is a French firm that has been asked to provide consulting services to helpGredia Company (in Country Y) improve its performance. Tovar would need to spend300,000 euros today on expenses related to this project. In one year, Tovar will receivepayment from Gredia, which will be tied to Gredia’s performance during the year. Thereis uncertainty about Gredia’s performance and about Gredia’s tendency for corruption.Tovar expects that it will receive 400,000Y if Gredia achieves strong performancefollowing the consulting job. However, there are two forms of country risk that are aconcern to Tovar. There is an 80 percent chance that Gredia will achieve strongperformance. There is a 20 percent chance that Gredia will perform poorly, and in thiscase, Tovar will receive a payment of only 200,000Y.While there is a 90 percent chance that Gredia will not be corrupt and make its paymentto Tovar, there is a 10 percent chance that Gredia will become corrupt, and in this case,Gredia will not…Why is the agency problem more pronounced for multinational corporations? Check all that apply: MNCs are often larger than purely domestic companies. There are no international laws to prevent agency problems. Monitoring managers in foreign countries is more difficult. Managers raised in different cultures may have different goals and values.
- Magna Steel Erectors, a Canadian manufacturer and exporter of steel components in bridge building has negotiated a deal with BridgeCon Inc., an American bridge construction firm. They have been doing business for several years and have used both Open Account and Letters of Credit. Recently BridgeCon has experienced some challenges in paying on time and maintaining its creditworthiness. Rumours are rampant about the potential for BridgeCon to encounter severe financial difficulty. As a result, Magna is worried about being paid for future shipments. In addition, Magna has recently lost several key engineers and project managers which has severely impacted their ability to perform key work and complete some recent projects on time and to the satisfaction of previous customers. Name and describe two types of Standby Letters of Credit that could address the concerns that Magna has about BridgeCon or that BridgeCon might have about MagnaQuestion Delta Telephone ltd. ,a subsidiary of a multinational company is a supplier of telephone services to a medium sized community in Ghana. John Dela , the chief executive of the company has just attended a trade exhibition entitled ‘Automated Emigrate’ in Japan. As a result of what he learned from the exhibition and information he has picked from his peers in other companies , Mr Dela is concerned about Delta’s ability to maintain its competitiveness position in the telecommunication market in Ghana. Owing to deregulation in the telecommunication industry and the aggressive action of new competitors in the local area, a significant number of Delta’s customers have switched to other suppliers of telephone and related telecommunication services. Mr Dela feels that if Delta were to invest fully in new state- of –the- art fiber-optics technology as well as upgrade in the latest computer equipment , the loss of market share may be arrested and operating efficiency may…You are a supply chain manager at a UK firm. In 2010, a volcano broke out in Iceland, disrupting air travel across Europe. On the one hand, you are considering switching to local suppliers in the UK. On the other hand, you feel bad about abandoning your Asian suppliers, with whom you have built a pleasant personal and business relationship, and who – in the long run – may be able to deliver products much cheaper. Yet, your tightly coordinated production cannot afford to miss one supply shipment. How do you proceed?
