Solutions for International Accounting, 6th Edition by Timothy Doupnik
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Course
International Accounting
Institution
International Accounting
Complete Solutions Manual for International Accounting, 6th Edition 6e by Timothy Doupnik, Mark Finn, Giorgio Gotti and Hector Perera. ISBN-13: 6991
Full Chapters Solutions are included - End of Chapters exercises answers.
Chapter 1:Introduction to International Accounting
Chapter 2:Wor...
Chapter 01 - Introduction to International Accounting
CHAPTER 1
INTRODUCTION TO INTERNATIONAL ACCOUNTING
Chapter Outline
I. International accounting is an extremely broad topic.
A. At a minimum, it focuses on the accounting issues unique to multinational corporations,
especially with respect to international transactions and foreign investments.
B. At the other extreme, it encompasses the study of the various functional areas of
accounting in all countries of the world, as well as the activities of a number of
supranational organizations.
C. This book provides an overview of the broadly defined area of international accounting,
including certain supranational guidelines, but focusing on the accounting issues related
to international business activities and foreign investments. In other words, this book
focuses on international accounting issues at the company level that are specifically
relevant to multinational corporations.
II. There are several accounting issues encountered by companies involved in international
trade.
A. One issue is the accounting for foreign currency-denominated export sales and import
purchases. An important issue is how to account for changes in the value of the foreign
currency-denominated account receivable (payable) that occur as exchange rates
fluctuate.
B. A related issue is the accounting for derivative financial instruments, such as forward
contracts and foreign currency options, used to hedge the foreign exchange risk
associated with foreign currency transactions.
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