The work of Hofstede has been very important to the study of international accounting, which of the following was NOT one of his cultural characteristics used to describe cultures around the world? a. Masculinity versus Femininity b. Organised versus laid-back c. Individualism versus Collectivism d. None of the above, i.e. they are all cultural characteristics

The work of Hofstede has been very important to the study of international accounting, which of the following was NOT one of his cultural characteristics used to describe cultures around the world? a. Masculinity versus Femininity b. Organised versus laid-back c. Individualism versus Collectivism d. None of the above, i.e. they are all cultural characteristics

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter7: Managing Ethics Risks & Opportunities

Section: Chapter Questions

Problem 10Q

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accounting standards for each country differ due to the unique environments that have developed over time. So then, why is it important to discard these cultural differences (which are very important to the culture's identity) to develop uniform accounting rules and principles (i.e. IFRS)?
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.
Using Hofstede’s (1980) societal value dimensions, explain how cultural influenced the accountants’ accounting values. What are the cultural dimensions and indexes to determine a country that exhibit secrecy hypothesis and conservatism hypothesis? Discuss in detail each hypothesis using the country you identified.?
How do Gray’s accounting values establish a basis for financial reporting in countries with different cultural systems?
Which of the following factors has not influenced the development of accounting practices in various nations? a.cultural background b.the political environment c.economic development d.all of these factors have influenced the development of accounting practices
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.
Do you think one set of accounting standards is feasible for the entire world, given the fact that accounting rules are influenced by social,cultural, economic and legal environment of a country. Does US support the idea of single set of accounting standards throughout the world.
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.
By using Hofstede's cultural dimension index in Exercise 4 of Chapter 2 and Gray's accounting values in Chapter 2 to discuss implications for American internal auditors who have to audit subsidiaries of a U.S. parent in Sweden, Korea and Brazil.Discuss:(1) the impact of Hofstede's cultural dimensions on relevant accounting values (conservatism, secrecy and level of disclosure) of accountants in these three countries, and(2) what American parent company and their internal auditors should do to cope with the impact of these accounting values on financial reporting of these subsidiaries.
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.
Boseman is also considering making the entry into the international market by engaging in foreign direct investments in the nations. Which one of the following is not a true statement regarding foreign direct investment from the host country’s perspective? a.Significant financial inflows always result from engaging in foreign direct investment. b.Foreign direct investment can create new jobs and can generate tax revenues for governments c.A concern of the local governments in host countries is the lack of corporate social responsibility d.There is the potential for exploitation of human labor within certain countries e.These investments may take the form of plants, buildings, or inventories
Discuss the following:1 Cultural impact on translating IFRS into different languages. Be sure to include some examples. Your discussion also should include the cultural differences per Hofstede's cultural dimensions that affect accounting interpretations/judgments across countries.2 How to cope with cultural impact on: (a) translating IFRS into different languages and (b) interpretation of IFRS across countries.