ACCT 564 Week 1 Homework Assignment

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Exercise 3 Required: a) Explain how Acme Brush of Brazil’s pretax income (in BRL) became a pretax loss. b) Discuss whether Cooper Grant should be paid a bonus or not.

Exercise 4 Required: a) Determine the number of foreign companies listed on the NYSE and the number of countries they represent. b) Determine the five countries with the largest number of foreign companies listed on the NYSE. c) Speculate as to why non-U.S. companies have gone to the effort to have their shares listed on the NYSE.

Case 1. Besserbrau AG Required: Discuss the various international accounting issues confronted by Besserbrau AG.

Exercise 7 Required: Answer the following questions and provide explanations for your answers. a) Which is the greatest problem arising from worldwide accounting diversity? b) Which group is most affected by worldwide accounting diversity? c) Which group can most easily deal with the problems associated with accounting diversity?

Exercise 8 Required: Consider each of the following factors that contribute to existing accounting diversity as described in this chapter: • Legal system • Taxation • Providers of financing • Inflation • Political and economic ties • Culture a) Which factor do you believe represents the greatest impediment to the international convergence of accounting? b) Which factor do you believe creates the smallest impediment to convergence? Explain your reasoning.

ACCT 564: Week 1 Home Work
Your Name.. ACCT 564: International Accounting and Multinational Enterprises Keller Graduate School of Management Professor: Doris Lombard Date: September 5, 2015

Exercise 3

Required: a) Explain how Acme Brush of Brazils pretax income (in BRL) became a pretax loss. The Acme Brush of Brazil pretax income in BRL became a United States dollar pretax loss because Sales and Expenses are translated at different exchange rates. Specifically, Sales are translated at an exchange rate of and Expenses are translated at an exchange rate of The difference in strength of the currencies is the reason as to why it became a United States dollar pretax loss. b) Discuss whether...

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