1. What are the major accounting classifications in the world? Judgmental classifications & Empirical classifications
2. Give factors that contribute to the development of international accounting
Sources of finance; Legal system; Taxation; Political and economic ties; Inflation; Level of economic development; Educational level; Culture
3. What are the two broad objectives for investor-oriented markets? Which of these do you think is most important? Present some reasons Investor protection & Market Quality
4. Describe the four components of the framework of assessing corporate governance provided by Dallas
Market infrastructure 市场基础设施 Legal environment 法律环境
Regulatory environment 监管环境
Informational infrastructure 信息基础设施
5. Describe the four foreign currency translation methods Single rate method 单一汇率法 Multiple rate methods 多汇率法
Monetary-nonmonetary method 货币与非货币项目法 Temporal method 时态法
6. Describe the three adjustments for changing prices
General price-level adjustment 一般物价调整 Current-cost adjustment 现行成本调整
General price-level adjusted current costs 现行成本一般物价调整
7. Distinguish between the terms “harmonization” and “convergence” as they apply to accounting standards
Harmonization was generally taken to mean the elimination of differences between existing accounting standards, while convergence might also involve coming up with a new accounting treatment not in any current standard.
8. What does accounting convergence include? Accounting standards
Disclosures made by publicly traded companies in connection with securities offerings and stock exchange listings Auditing standards
9. Which organizations are the major bodies for promoting accounting convergence? International Accounting Standards Board(IASB) Commission of the European Union(EU)
International Organization of Securities Commission(IOSCO) International Federation of Accountants(IFAC)
United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting(ISAR) OECD Working Group
10. List the four stages of business analysis presented by Palepu, Bernard and Healy
Business strategy analysis 经营战略分析 Accounting analysis 会计分析 Financial analysis 财务分析 Prospective analysis 前景分析
11. List the four respective of financial ratios Liquidity; Efficiency; Profitability; Coverage
12. What are the four dimensions of long-range planning process? Indentifying key factors relevant to the future progress of the company
Formulating appropriate techniques to forecast future developments and assess the company’s ability to adapt to or exploit these developments
Developing information systems to support strategic choices Translating selected options into specific courses of action
13. Illustrate three advantages of proper-designed performance evaluation system Ensure managerial behavior is consistent with strategic priorities
Judge the profitability of existing operations Spot areas that are not performing as planned Allocate limited corporate resources productively Evaluate managerial performance
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