TAILIEUCHUNG - Lecture Financial accounting (15/e) - Chapter 15: Global business and accounting

In this chapter, students will be able to understand: Define four mechanisms companies use to globalize their business activities, explain why there is demand for harmonization of global financial reporting standards, demonstrate how to convert an amount of money from one currency to another, compute gains or losses on receivables or payables that are stated in a foreign currency when exchange rates fluctuate,. | Global Business and Accounting Chapter 15 Chapter 15: Global Business and Accounting Globalization Occurs as managers become aware of and engage in cross-border trade and operations. A high level of globalization is a multinational enterprise that begins with raw material extraction and ends with final product assembly and sales in multiple foreign locations. Globalization is a term used to describe cross-border trade and operations. It covers all aspects of business from the extraction of raw materials to the production and sale of finished products. A high level of globalization is a multinational enterprise that begins with raw material extraction and ends with final product assembly and sales in multiple foreign locations. Globalization Location of the World’s Largest Multinationals in 2009 Country/Block Number of Companies Percentage European Union 163 33% United States 140 28% Japan 68 14% China 37 7% Switzerland 15 3% Canada 14 3% South Korea 14 3% Central/ South America 11 2% Australia 9 2% Russia 8 1% India 7 1% Others 14 3% Source: Adapted from “The Fortune Global 500,” Large multinational companies may extract raw materials in one country, buy other materials and or components in other countries, produce goods in still other countries, and finally market the finished goods in most all countries around the world. On your screen, you see locations with the largest concentration of the world’s top multinational companies. The top ten multinational companies include seven oil companies, one automobile company (Toyota), one retailer (Wal-Mart), and one banking company (ING Group). Globalization Globalization typically progresses through a series of stages that include: Exporting International licensing International joint ventures Wholly owned international subsidiaries Global sourcing. The process of moving into the global economy usually starts with the exporting or importing of goods or services. Businesses must obtain the necessary licensing .

• Kế toán - Kiểm toán
• Financial accounting
• Lecture Financial accounting
• Global business
• Economic systems
• Financial reporting standards
• Exchange rates
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting standards
• Financial reporting
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Financial statement
• Accounting cycle
• Accounting for accruals
• Accounting system
• Accounting activities
• Financial accounting practice
• Accounting information system
• Accounting terminology
• Reporting financial results
• Evaluating liquidity
• Business firms
• The financial reporting reform
• Accounting information
• Management accounting
• Accounting equation
• Accounting systems
• Decision making
• External financial reporting
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Accrual accounting
• Income statement
• Accounting conventions
• Internal control
• Accounting for cash
• Accounting for receivables
• Computing uncollectible accounts expense
• Long term debt
• Accounting for long term debt
• Paper F3
• Revision kit 2016
• Accounting Financial
• Accounting Financial Review
• Financial Review accounting exam
• Study text 2016
• Language of business
• Double entry accounting system
• Credit terminology
• Merchandising businesses
• Accounting for merchandising businesses
• Accounting for inventories
• Cash discounts
• The accounting cycle
• International financial reporting standards
• Completing the accounting cycle
• Accounting worksheet
• Classified balance sheet