国际企业的财务管理课件.pptVIP

11. 国际企业的财务管理 国际企业的财务管理国际企业的税收管理国际融资战略与渠道国际企业的资金运用外汇风险与防范第一页，共五十五页。 Accounting information and capital flows第二页，共五十五页。 Determinants of national accounting standards第三页，共五十五页。 Relationship between business and providers of capitalThree external sources of capital:Individual investorsBuying shares and bondsBanks.Loan capitalGovernmentMake loans or investmentImportance of each varies from country to country第四页，共五十五页。 Political and economic ties with other countriesAccounting convergence:Influence of NAFTAInfluence of the former British EmpireInfluence of the European Union第五页，共五十五页。 Inflation accountingHistoric cost principle:Assumes currency is not losing value to inflationMost significant impact in the area of asset valuation Appropriateness varies with inflation Current cost accounting:Factors out inflation Used in Great Britain until inflation rate declined第六页，共五十五页。 Level of developmentDeveloped countries have more sophisticated accounting proceduresAccounting problems are more complexSophisticated capital marketsLenders require comprehensive reportsEducated workforce can perform complex accounting functions第七页，共五十五页。 CultureHofstede’s uncertainty avoidance has an impact on accounting systemsLow uncertainty avoidance - these countries tend to have strong independent auditing professions that ensure a firm’s compliance with rules第八页，共五十五页。 Accounting clustersFew countries have identical accounting systems. Similarities exist in clusters第九页，共五十五页。 British-American-Dutch GroupFirms raise capital from investors. Accounting systems designed to inform investors Have close ties to banks. Accounting practices meet bank’s needs.South American GroupCountries have experienced persistent and rapid inflation. Accounting principles reflect the inflation.Accounting clustersEurope-Japan Group第十页，共五十五页。 National and international standardsDiverse accounting practices are enshrined in national accounting and auditing standardsAccounting standards: Rules for preparing financial st