Term
| Italian city states in the 14th and 15th century |
|
Definition
| the genesis of accounting as we know it today |
|
|
Term
| reductions in national trade barriers and capital controls together with advances in information technology |
|
Definition
| Factors that are contributing to the growing importance of studied international accounting |
|
|
Term
|
Definition
| where did double entry accounting originate? |
|
|
Term
|
Definition
| historically enhance income measurement. |
|
|
Term
|
Definition
| used accounting for governmental planning and control. |
|
|
Term
|
Definition
| an information specialty providing information about a firm to users of that information as a basis for economic decisions |
|
|
Term
Measurement principles
Financial disclosure (corporate transparency)
Auditing practices |
|
Definition
| What Does International Accounting Diversity Entail? |
|
|
Term
|
Definition
| Accounting diversity creates a demand for |
|
|
Term
Consolidation of foreign accounts
Accounting for foreign currency fluctuations
Accounting for changing prices
International planning and control
Performance evaluation of foreign operations
Financial risk management
International taxation and transfer pricing |
|
Definition
| Reporting issues when business transcends national boundaries |
|
|
Term
Identifying potential market risks
Quantifying trade-offs associated with alternative risk reduction strategies
Measuring risk exposures
Accounting for specific hedge products
Evaluating the effectiveness of hedging programs |
|
Definition
|
|
Term
Individualism vs. collectivism
Power distance – high vs. low
Uncertainty avoidance – high vs. low
Masculinity vs. femininity |
|
Definition
|
|
Term
Professionalism vs. statutory control
Uniformity vs. flexibility
Conservatism vs. optimism
Secrecy vs. transparency |
|
Definition
|
|
Term
|
Definition
| who developed the four approaches to accounting development |
|
|
Term
macroeconomic
microeconomics
independent discipline
uniform |
|
Definition
| Four approaches to accounting development |
|
|
Term
|
Definition
| Accounting derived from and designed to enhance national goals. |
|
|
Term
|
Definition
Accounting derived from microeconomics.
Maintaining physical capital
Separation of capital and income
Replacement costs |
|
|
Term
|
Definition
| example of macroeconomic approach |
|
|
Term
|
Definition
| example of microeconomic approach |
|
|
Term
| independent discipline approach |
|
Definition
| Accounting derived from business practices, judgment, and trial-and-error |
|
|
Term
|
Definition
| example of independent discipline approach |
|
|
Term
|
Definition
| Accounting is standardized by central government and used as a tool for administrative control. |
|
|
Term
|
Definition
| example of uniform approach |
|
|
Term
fair presentation
legal compliance |
|
Definition
| 2 types of practice systems |
|
|
Term
substance over form
Oriented toward decision needs of external investors
trend for consolidated financial statements
extensive disclosures |
|
Definition
| characteristics of fair presentation accounting |
|
|
Term
Designed to satisfy government-imposed requirements
Conservative measurements
Income smoothing |
|
Definition
| characteristics of legal compliance accounting |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
| recognized in full, using the liability method, for temporary differences between the carrying amount and tax base |
|
Definition
|
|
Term
Must report results of environmental activities
Reports aimed at preventing bankruptcies
Social report |
|
Definition
| Unusual features of French financial reporting |
|
|
Term
|
Definition
| characterized by emphasis on creditor protection, reliance on statutes and court decisions, and tax law influnce |
|
|
Term
| Determination principle (Germany) |
|
Definition
| taxable income is determined by what is booked in a company’s financial records |
|
|
Term
| Auditor’s private report to board of directors and supervisory board on company’s future prospects |
|
Definition
| Unusual features of German financial reporting |
|
|
Term
Until end of World War II – German influences
After World War II – Soviet influences
After 1989 – EU influences (market orientation) |
|
Definition
| influences in the czech republic |
|
|
Term
Form over substance still applies in some cases
Still implementing accounting practices consistent with EU directives and IFRS |
|
Definition
| Unusual features of Czech financial reporting |
|
|
Term
|
Definition
| Code law country whose accounting is oriented toward fair presentation |
|
|
Term
|
Definition
| two types of accounting classification |
|
|
Term
| judgmental classification |
|
Definition
| rely on knowlee, intuion, and expeirence |
|
|
Term
|
Definition
| apply statistical methods to databases of accounting principles and practices around the world |
|
|
Term
Financial statements may be in Dutch, French, German, or English
Other than consolidated financial statements of Dutch listed companies, financial statements may be based on Dutch guidelines, IFRS, or a combination
Flexible accounting measurements
Current values are permitted for tangible assets
Opportunities for income smoothing |
|
Definition
| Unusual features of Dutch financial reporting |
|
|
Term
|
Definition
| First country to develop an accountancy profession |
|
|
Term
|
Definition
| Private-sector organization that determines accounting standards |
|
|
Term
|
Definition
| underpins FASB’s authority |
|
|
Term
|
Definition
| Accounting is oriented toward fair presentation despite code law legal system |
|
|
Term
company law
securities and exchange law
corporate income tax law |
|
Definition
| triangular legal system of Japan: |
|
|
Term
investor protection
market quality |
|
Definition
| Twin objectives of investor oriented markets |
|
|
Term
|
Definition
| Disaggregated information about a firm’s industry and geographic operations and results |
|
|
