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1、国际会计试卷3一、Definition（名词解释:Each of the following for 3 points, total 12 points）1.Foreign exchange exposure外汇风险2.Forward contract期货契约 远期合同3. An indirect foreign currency quote 间接外汇报价4. International Accounting国际会计二、Single choice question (单项选择题：Each of the following question for 2 points, total 10 poin
2、ts)1. Which of the following is not an environmental factor affecting accounting?以下哪一个不是环境因素影响会计吗?A.Level of enforcement of regulationsB.Nature of capital marketsC.Type of legal systemD.LanguageE.Level of inflation2. Which of the following does not affect a countrys financial accounting orientation?
3、下列哪项不影响一个国家的财务会计取向?A.The level of inflation.B.Political and economic ties with other countries.C.Status of the accounting profession.D.Quality of accounting education.E.All of the above affect a countrys financial accounting orientation.3. Current proponents of harmonizing accounting standards globa
4、lly are目前全球协调的支持者会计准则A.Investors.B.Multinational companies.C.The securities industry and stock exchanges.D.Developing countries.E.All of the above.4. The currency in which the parent company prepares its financial statements is the货币的母公司8的财务报表A.base currency.B.functional currency.C.historical curren
5、cy.D.reporting currency.E.None of them5. Under the monetary/non-monetary method of foreign currency translation, depreciation expense is translated at the:货币/非货币性方法下的外币翻译、折旧费用是):A.Current rateB.Weighted average rateC.Historical rateD.spot rateE.None of the above三、Multiple choice questions (多项选择题：Eac
6、h of the following question for 3 points, total 15 points)1. Major Challenges Facing Accounting Globally会计所面临的挑战主要全球A.Global HarmonizationB.Quality of Financial Reporting in Developed and Emerging Economics C.Social and Environmental ReportingD.Financial Reporting in the High Technology EraE.Review
7、of Selected Classification Studies2. Interaction between Accounting and its Environment mainly includes the fowllowing aspects:会计和它的环境的相互作用主要体现在fowllowing方面:A.Nature of Capital Markets and Type of Reporting RegimeB.Type of Business Entities and Type of Legal SystemC.Level of Enforcement of Regulatio
8、ns and Level of InflationD.Political and Economic Ties and Status of the Accounting ProfessionE. Existence of a Conceptual Framework and Quality of Accounting Education3. Voluntary disclosures by MNEs are influenced by 通过主动批示受跨国企业A. size.B. international listing status.C. country of origin.D. indust
9、ry.E Language4. Additional Issues in International Financial Statement Analysis include the following:另外的问题,在国际财务报表分析如左:A. Availability of DataB. Reliability of DataC. Timeliness of DataD. Language, Terminology and FormatE. None of them5. Investors are concerned about投资者关心的是A. up-to-date measurement
10、s of earningsB. lack of comparability of MNEsC. the informational content of MNE reportsD. GoodwillE None of them四、Essay questions (简答题：Each of the following questions for 8 points, total 16 points。)1. Cost considerations and the need to tap capital providers inseveral countries sometimes result in
11、cpmanies preparing universal rather than country-specific secondary statements. If you were analyzing a universal secondary statement of a foreign company, what might be some of your concerns before making an investment decision? How would you get the answers you need?成本的考虑和需要去利用资本提供者inseveral国家在某个时
12、候导致cpmanies准备普遍而不是国家二级报表。如果你是一个普遍的次要的陈述分析外资公司,可能是一些你的担忧之后方可投资决定吗?你如何得到答案,你需要什么?2. What is the Role of Financial Reporting in Emerging Capital Markets?的角色是什么新兴资本市场财务报告吗?五、International Accounting Practices (国际会计实务：Total for 12 points)Latechoc (Switzerland) company began its first year of business on
13、Jan 1, 2008. Below is the companys statement of income for the year.Latechoc(瑞士)公司开始了它的第一次多年的经营在今年1月1日起,。以下是该公司的声明的生活一年。LatechocStatement of income (in millions of Swiss francs)Year end December 31, 2008Net Sales 7,820Cost of goods sold (4,000)Selling, general and administrative (850)Rent (400)Adver
14、tising (150)Equipment depreciation (1,250)Interest expense (90)Utilities (30)Federal income taxes (65)Net operating income 985Assume that equipment was acquired at the beginning of the year and the net monetary gain for the year was 480 (in millions of Swiss francs). What is the companys adjusted GP
15、LA net income for the year ending December 31, 2008?假设设备是这样获得的:在今年年初,净货币的升幅,一年480(数以百万计的瑞士法郎)。贵公司调整GPLA净收入止年度2008年12月31日?What is the compays GPLA-based net income for the year ending December 31, 2008?什么是企业GPLA-based净收入止年度2008年12月31日?六、Case analysis (案例分析题：This section for 35 points)Tech corporate o
16、f USA is a manufacturer of skates shore for enthusiasts of all ages. Durign the last five years,the cost of raw materials and labor have continued to rise in the firms U.S manufacturing facility. As a result, the CEO of Tech corporate is considering establishing a new manufacturing subsidiary overse
17、as to take advantage of lower production costs elsewhere. Investment advisors to the CEO have suggested Malaysia and Thailand as two possible locations. Below is the subsidiarys expected after-tax cash flows will be in ringgits or bath, the company anticipates some U.S dollar-denominated expenses.美国
18、的科技公司是一家专业生产的冰鞋古堡区和爱好者的青睐。过去的五年里,Durign原材料的价格持续增加与劳动在公司的你S制造点。因此,该公司的首席执行官的高科技公司正在考虑建立新的生产子公司海外利用降低生产成本的地方。投资顾问向总裁,马来西亚和泰国的建议可能有两种不同的地点。以下是该子公司的税后现金流量预期将在ringgits或浴,公司期望有些看. S美元的费用。Blades Malaysia in millions20032004200520062007MR cash inflows3500400055004800MR cash outflows1500020009007001000US$cas
19、h outflows20015012575Blades Thailand in millions20032004200520062007TB cash flows25000225002300024800TB cash outflows350002000220019003000US$cash outflows125175200noneAdditional information:Exchange rates for 2003 are 3.8 Malaysian ringgit(MR)=US$1 and 39.5 Thai bath (TB)=US$1. It is expected that t
20、he Malaysian ringgit will depreciate 3 percent a year against the dollar and the Thai bath will appreciate 4 percent a year against the dollar.Tech corporates average cost of capital for both projects is 12%.The 12% of Present value factor:200320042005200620071.0000.89290.79720.71180.6355Requirement
21、s:1. Determine the net present value of both projects确定净现值两者的项目2. If you were Tech corporates investment advisor, which lacation would choose for new subsidiary? Why?如果你是科技企业投资顾问,为新子公司地理位置会选择吗?为什么?国际会计试卷3 答案及评分标准 一、Definition（名词解释:Each of the following for 3 points, total 12 points）1.Foreign exchang
22、e exposure: Foreign exchange exposure is a measure of the potential for a firms profitability, cash flow, and martket value to change due to a change in exchange rates.2.Forward contract is a commitment to exchange currencies in the future at a rate that is set today. While the amount of the transac
23、tion, the maturity date, and the exchange rate are all determined in advance. no money changes hands until the settlement date.3. An indirect foreign currency quote : An indirect foreign currency quote represents how much of the foreign currency can be purchased for one unit of the domestic currency
24、.4.International Accounting The definition includes (1) international transactions (2) comparative GAAP (3) harmonization and (4) control of global operations. International accounting encompasses all major areas of accounting二、Single choice question (单项选择题：Each of the following question for 2 point
25、s, total 10 points)1.D 2.E 3.E 4.D 5.C三、Multiple choice questions (多项选择题：Each of the following question for 3 points, total 15 points)1.ABCD 2.ABCDE 3.ABCD 4.ABCD 5.ABC四、Essay questions (简答题：Each of the following question for 8 points, total 16 points.)1. Cost considerations and the need to tap capi
26、tal providers inseveral countries sometimes result in cpmanies preparing universal rather than country-specific secondary statements. If you were analyzing a universal secondary statement of a foreign company, what might be some of your concerns before making an investment decision? How would you ge
27、t the answers you need?Suggested solution:.Companies that prepare universal secondary statements often use International Accounting Standards. There is research evidence that suggests that there are potential problems with financial statements that are purportedly prepared using IASs. Historically,
28、there has been a comparability problem since IASs were rather broad and allowed companies the choice of several accounting treatments on various items. Supporters of global harmonization argue that this problem has been addressed via the tightening of standards through the IASCs Comparability Projec
29、t. However, there is still the matter of whether companies that claim to comply with IASs actually do. Several recent studies have shown that this is not the case. This raises questions as to the reliability and comparability of universal secondary statements prepared using IASs.2. What is the Role
30、of Financial Reporting in Emerging Capital Markets?(1). Before ECM can function effectively, it is essential to have in place a set of corporate reporting policies and procedures geared towards supplying the information necessary for making investment decisions. Accounting information is an essentia
31、l for building efficient financial markets. (2). Developing an effective accounting and auditing profession is essential for building efficient financial markets. The accounting and legal infrastructure underlying an ECM was a major factor for evaluating the investment potential of the market. (3).
32、Financial reporting is central to regulations pertinent to establishing an active market for corporate securities.五、International Accounting Practices (国际会计实务：Total for 12 points)1. Latechoc (Switzerland): Historical Adjustment P-L-A Cost Ratio BasisNet Sales 7,820 108/105 8,043Cost of goods sold (4
33、,000) 108/105 (4,114)Selling, general and administrative (850) 108/105 (874)Rent (400) 108/105 (411)Advertising (150) 108/105 (154)Equipment depreciation (1,250) 108/100 (1,350)Interest expense (90) 108/105 (93)Utilities (30) 108/105 (31)Federal income taxes (65) 108/105 (67)Net operating income 985
34、949Add: Net monetary gain 480P-L-A net income 1,429六、Case analysis (案例分析题：This section for 35 points)Solution for case analysis Tech corporate1. Blades Malaysia net present value (Ringers in millions of $): 2003 2004 2005 2006 2007Net MR cash flow (15,000)1,500 3,100 4,800 3,800Fixed rate MR/$ 3.8 3
35、.914 4.031 4.152 4.277Dollar value (3,947) 383 769 1,156 888Less $ outflows _ (200) (150) (125) (75)Net $ flows (3,947) 183 619 1,031 81312%Pvfacto 1.000 .8929 .7972 .7118 .6355PV of $ flow (3,947) 163 493 734 517Project NPV = $(2,040)Blades Thailand net present value (Thai Bath in millions of $): 2
36、003 2004 2005 2006 2007Net TB cash flow (35,000) 23,000 20,300 21,100 21,800Fixed rate TB/$ 39.5 37.92 36.403 34.947 33.549Dollar value (886) 607 558 604 650Less $ outflows _ (125) (175) (200) _Net $ flows (886) 482 383 404 65012%Pvfactor 1.000 .8929 .7972 .7118 .6355PV of $ flow (886) 430 305 288 4
37、13Project NPV = $550 2. As Tech Corporations investment advisor, you should choose the Thailand location since it has a positive net present value.国际会计试卷4 QUESTION 1(20 Marks)In the 13th and 14th centuries, double-entry bookkeeping spread rapidly throughout the western world.What social, economic an
38、d political conditions were necessary for widespread adoption of double-entry bookkeeping to occur at that time?How is this an example of the internationalisation of accounting?公元13、14世纪,双式簿记整个西方世界迅速传播开来什麽样的社会、经济和政治条件是必需的,为了广泛的采用双式簿记发生吗? 这是怎样的一个实例的国际化的会计吗?Necessary conditions (16 marks total): - Rap
39、id growth of trade and commerce- Those travelling to the Holy Land for the crusades from Western Europe inevitably passed through the city states of Northern Italy.- Genoa was at the peak of its power and influence as a trading centre in the 14th century.- In 1252, the gold coin known as the florin
40、was developed in Florence and it became accepted as the standard gold piece in all of Western Europe.- Around this time in Florence, large associations or compagnie (partnerships) were formed to pool capital, first from inside family groups then from outside.- Commune of Genoa (Government) in 1327 r
41、equired that government accounts had to be kept in same form as used by banks.This is an example of internationalisation of accounting (4 marks) because it shows the growth of larger scale businesses dependent on foreigners for sales and capital. Accounting emerged as a response to the demand for in
42、formation and the requirement to be accountable. In addition to this, the accounting practices of Florence and Genoa later were transported to England where they replaced the previous manorial system of accounting. This shows how more effective accounting techniques flow across national boundaries.
43、QUESTION 2 (5 + 5 + 5 + 5 = 20 Marks) Answer four (4) of the following:A. To what extent is the strong/weak equity market distinction a useful way to identify different patterns of accounting development.多大程度上属于强大的/疲软股票市场的区别一个有用的方法来确定不同类型的会计的发展。-Strong equity refers to the dominant position of outsi
44、de equity-holders and the strong legal backing aimed at investor protection. Weak equity refers to the dominant position of banks and family equity-holdings as capital providers, and the legal structure which is designed to safeguard the interests of creditors. Nobes establishes this class distinction in a deductive classification approach. See Figure 3.2 of Radebaugh and Gray (2002).The strong market