Chapter 2: Worldwide Accounting Diversity · Worldwide Accounting Diversity § Nature of diversity...
24
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 2: Worldwide Accounting Diversity
Transcript of Chapter 2: Worldwide Accounting Diversity · Worldwide Accounting Diversity § Nature of diversity...
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
Chapter2:WorldwideAccountingDiversity
LearningObjectives
§ Provideevidenceofthediversitythatexistsinaccountinginternationally
§ Explaintheproblemscausedbyaccountingdiversity§ Describethemajorenvironmentalfactorsthatinfluence
nationalaccountingsystemsandleadtoaccountingdiversity§ Describeajudgmentalclassificationofcountriesbyfinancial
reportingsystem§ Discusstheinfluencethatcultureisthoughttohaveon
financialreporting§ Describeasimplifiedmodelofthereasonsforinternational
differencesinfinancialreporting§ Categorizeaccountingdifferencesinternationallyandprovide
examplesofeachtypeofdifference
2-2
WorldwideAccountingDiversity
§ Natureofdiversityinaccounting§ Format§ Terminology§ Recognitionrules§ Measurementrules
2-3
من الكتاب
اكثر شيء يفرق في المحاسبه
كل واحد وتعريفه من الكتاب
WorldwideAccountingDiversity:Reasons
§ Legalsystems§ Commonlaw§ Fewerstatutes—morecourtinterpretation§ Creationofprecedentsorcaselaws§ GreatBritainandotherEnglish-speakingcountries§ Accountinglawisdetailedandspecific§ Sourcesarenonlegislativeorganizations
§ Codelaw§ Morestatutes§ Non-English-speakingcountries§ Legislatedaccountingrules§ Accountinglawisgeneral§ Otherguidancerequired
2-4
يكفي السلايد هنا اسباب التنوع في المحاسبه
هذي الخمسة هي الأشياء الي تخلي المحاسبه تختلف من دوله لأخرى
بدأ القانون العام في إنجلترا ويوجد بشكل أساسي في البلدان الناطقة بالإنجليزية في العالم. تعتمد دول القانون العام على كمية محدودة من القانون التشريعي ، والتي تفسرها المحاكم بعد ذلك. تؤسس قرارات المحكمة سوابق ، وبالتالي تطور السوابق القضائية التي تكمل القوانين.
هو قانون طالع وبدأ من إنجلترا ويوجد القانون في البلدان الناطقه باللغة الانجليزيه
نظام قانون الكود ، يتبع في معظم البلدان غير الناطقة باللغة الإنجليزية ، نشأ في القانون المدني الروماني وتم تطويره بشكل أكبر في الجامعات الأوروبية خلال العصور الوسطى. تميل بلدان قانون القانون إلى أن يكون لديها قانون أكثر تشريعًا أو قانونًا مقننًا يحكم نطاقًا أوسع من النشاط البشري.
WorldwideAccountingDiversity:Reasons
§ Basisfortaxation§ Publishedfinancialstatements§ Germany—sametaxableincomeandbookincome
§ Financialstatementsadjustedfortaxpurposes§ U.S.—differenttaxableincomeandbookincome§ Differencebetweentaxandaccountingincomegivesrisetodeferredincometaxes
§ Providersoffinancing§ Accountinganddisclosureislessimportantwheremajorsourcesarefamilies,banks,andthegovernment
§ Accountinganddisclosureismoreimportantwheremajorsourcesarediverseshareholders
2-5
اختلاف كيف كل دوله تدعم تمويلها
In some countries, published financial statements form the basis for taxation,
WorldwideAccountingDiversity:Reasons
§ Inflation§ Somecountrieshavehistoricallyhighratesofinflation§ Necessitatesadjustmentstooffsetinflation
§ CommoninLatinAmericancountries§ Politicalandeconomictiesaffecthowaccountingrules
areconveyed§ Correlationoffactors
§ Commonlawcountrieshavedomesticlistedcompaniesrelyingonequityforcapital.
§ Codelawcountriestendtolinktaxationtoaccountingstatementsandrelylessonfinancingprovidedbyshareholders
2-6
يغيرون الhostirical cost لان صار فيها تغير كبير
ProblemscausedbyAccountingDiversity
§ Preparationofconsolidatedfinancialstatements§ Accesstoforeigncapitalmarkets§ Comparabilityoffinancialstatements§ Lackofhigh-qualityaccountinginformation
2-7
من الكتاب
جهد وتكلفة كبيرة ؛ يجب أن يطور موظفو الشركة خبرة في أكثر من معايير محاسبية لدولة واحدة.considerable effort and cost are involved; company personnel must develop an expertise in more than one country’s accounting standards.
If a company desires to obtain capital by selling stock or borrowing money in a foreign country, it might be required to present a set of fi nancial statements prepared in accordance with the accounting standards in the country in which the capital is being obtained
المواءمة هي عملية تقليل المعايير الزائدة عن الحاجة أو المتعارضة التي قد تطورت بشكل مستقل. الاسم هو تشبيه لعملية مواءمة الموسيقى المتعارضة. الهدف من ذلك هو العثور على القواسم المشتركة وتحديد المتطلبات الأساسية التي تحتاج إلى الاحتفاظ بها وتوفي
The ultimate goal of harmonization is to have one set of international accounting standards that are followed by all companies around the world
PreparationofConsolidatedFinancialStatements§ Problemsdueto:
§ Localregulations§ BooksInlocalcurrency§ Localaccountingprinciples
§ Requires:§ Considerableeffort§ Additionalcost§ Expertiseindifferentcountry’saccountingstandards
2-8
المشكله هذي ايش تتطلب عشان تنحل
أشخاص عندهم خبره بالمعايير المحاسبية لكل دوله
AccesstoForeignCapitalMarkets
§ Requiresfinancialstatementsasperlocalaccountingstandards
§ Considerableeffortandcostinvolved
2-9
If a company desires to obtain capital by selling stock or borrowing money in a foreign country, it might be required to present a set of fi nancial statements prepared in accordance with the accounting standards in the country in which the capital is being obtained
ComparabilityofFinancialStatements
§ Lackofcomparabilitybetweenfinancialstatementsfromdifferentcountries
§ Thisadverselyaffects:§ Investmentdecisions§ Lendingdecisions§ Performanceanalysis§ Foreignacquisitiondecisions
2-10
LackofHigh-QualityAccountingInformation§ Lackofhigh-qualityaccountingstandards§ Inadequateriskassessment§ Lackofappropriatedisclosurerequirements§ Disclosuredeficiencies
§ Related-partytransactionsandoff-balance-sheetfinancing§ Highexposuretoforeignexchangerisk§ Investmentsinhighlyspeculativeassets§ Contingentliabilitiesguaranteeingforeigncurrencyloans§ Loanlossprovisions
2-11
تقييم غير كاف للمخاطر
AccountingClusters
§ Accountingmodels§ TheFairPresentation/FullDisclosureModel(Anglo-SaxonorAnglo-Americanmodel)§ Orientedtowardthedecisionneedsoflargenumbersofinvestorsandcreditors
§ UsedinEnglish-speakingcountriesinfluencedbytheUnitedKingdomortheUnitedStates
§ TheLegalComplianceModel(ContinentalEuropeanmodel)§ Legalistic§ Usedtoprovideinformationfortaxationandgovernment-planning
§ UsedinEurope,Japan,andcodelawcountries§ TheInflation-AdjustedModel§ ResemblestheContinentalEuropeanmodel§ Requiresextensiveuseofadjustmentsforinflation
2-12
JudgmentalClassificationofFinancialReportingSystems§ DevelopedbyNobes§ Micro-based—Anglo-Saxonmodel§ Macro-uniform—ContinentalEuropeanmodel
2-13
Micro-basedaccountingsystems
§ Firstsub-classinfluencedby§ Businesseconomics§ Accountingtheory§ Example:Netherlands
§ Secondsub-classinfluencedby§ Businesspractice§ Pragmatic§ Example:British-origin§ UnitedKingdomandUnitedStatesdominated
2-14
Macro-uniformaccountingsystems
§ Firstsub-class:§ Alignedwithnationaleconomicpolicies§ Example:Sweden
§ Secondsub-class:§ Continental:government,tax,legal§ Example:ContinentalEuropeancountries§ Law-basedfamily:Germany,Japan§ Tax-basedfamily:SouthernEuropeancountries
2-15
Exhibit—2.5Nobes’s JudgmentalClassification
2-16
InfluenceofCultureonFinancialReporting
§ Hofstede’sculturaldimensions§ Gray’saccountingvalues§ ReligionandAccounting
2-17
Hofstede’sculturaldimensions
§ Fourculturaldimensions§ Individualism(vs.collectivism)§ Preferenceforalooselyknitsocialfabric
§ Powerdistance§ Acceptanceofhierarchyandunequalpowerdistribution
§ Uncertaintyavoidance§ Comfortlevelwithuncertaintyandambiguity
§ Masculinity§ Emphasisonmasculinevaluesvs.femininevalues
§ Long-termorientation§ Focusonfosteringvirtuesorientedtowardsfuturerewards
2-18
Gray’sAccountingValues
§ Fourwidelyrecognizedaccountingvaluestodescribeacountry’saccountingsubculture§ Professionalismvs.StatutoryControl§ Uniformityvs.Flexibility§ Conservatismvs.Optimism§ Secrecyvs.Transparency
§ Believesthatnationalculturalvaluesaffectaccountingvalues
§ Accountingvaluesofconservatismandsecrecyhavethegreatestrelevance
§ Gray extendedHofstede’smodeltounderstandhowcultureinfluencesthecorporatereportingsystems
2-19
Exhibit—2.8FrameworkforAccountingSystemsDevelopment
2-20
ReligionandAccounting
§ Religiondefines§ Nationalcultureinmanypartsoftheworld
§ Ithassignificanteffectonbusinesspractice§ Example:BankingcompaniesunderShariah,theIslamiclawofhumanconductderivedfromtheKoran
2-21
ASimplifiedModeltoExplainFinancialReportingInternationalDifferences§ Nobes’s modelarguesthatinternationalreportingdifferences
areduetodifferentpurposes§ Country’sfinancingsystemisconsideredmostrelevantfactor
todeterminethepurposeoffinancialreporting§ Nobes dividesreportingsystemsintotwoclasses—AandB
§ ClassA§ Strongequity-outsidersystem§ Lessconservative§ ExtensiveDisclosure§ Accountingpracticediffersfromtaxrules
§ ClassB§ Weakequity-outsideshareholderfinancing§ Moreconservative§ Disclosureisnotextensive§ Accountingpracticefollowstaxrules
2-22
FurtherEvidenceofAccountingDiversity
§ Categoriesbasedonaccountingdifferences§ Financialstatementsincluded§ Financialstatementformats§ Levelofdetailinfinancialstatements§ Terminology§ Disclosure§ Recognitionandmeasurement
2-23
ارجع للكتاب اوضح
Exp: required to include a balance sheet, income statement, and statement of cash fl ows in a set of fi nancial statements.
Exp: list assets and liabilities on the balance sheet in order of liquidity,from most liquid (cash) to least liquid (often intangible assets)
مسميات الحسابات يختلف من دوله الى دوله
بعضهم يسجلون ب HC وبعضهم ب FV
EndofChapter2
2-24
