1、第 1 页 共 5 页江西财经大学0910 第二学期期末考试试卷试卷代码：02502C 授课课时：32课程名称：国际会计 适用对象：本科试卷命题人 王宏 试卷审核人：_Multiple Choice Questions (20 points)1. Among the factors affecting accounting development are the economic and political ties between countries. Which of the following pairs of countries do not have such ties with e
2、ach other?a. Philippines and the United Statesb. Singapore and the United Kingdomc. Malaysia and Argentinad. Indonesia and the Netherlandse. France and Germany2. The status of the accounting profession is a factor that affects accounting development in countries. In which of the following countries
3、is accounting not regarded favorably as a career choice?a. United Statesb. New Zealandc. Russiad. Australiae. Canada3. The International Federation of Accountants (IFAC) is not involved in:a. harmonizing global auditing practices.b. providing ethical guidelines for auditors on issues such as integri
4、ty and objectivity.c. establishing public sector standards applicable to all levels of government.d. maintaining auditor independence in todays complex business environment.e. administering a worldwide uniform examination for auditors.4. The “world class issuer“ approach to global accounting harmoni
5、zation is not very promising because:a. it is opposed by the U.S. Securities and Exchange Commission.b. there are difficulties in establishing and agreeing upon the criteria for inclusion.c. it faces strong opposition by U.S. companies.d. there are practical difficulties in implementation.e. of all
6、of the above.第 2 页 共 5 页5. Under SFAS No. 52, the current rate method of translation is used whena. the local currency is the functional currency.b. the local currency is the reporting currency.c. the parents currency is the functional currency.d. the parents currency is the reporting currency.6. Un
7、der SFAS No. 52, a hyperinflationary economy is defined as one that has inflation of approximately:a. 100 percent per yearb. 100 percent or more over a three year periodc. 25 percent per yeard. None of the above7. Sandvika Corp. acquired a warehouse at the start of the year 2003 - its first year of
8、operation - for 10 million Norwegian kroner. The warehouse was to be depreciated over 20 years using the straight line method. At the end of 2003, an appraiser indicated that the replacement cost of the warehouse was 12 million Norwegian kroner. For the year 2003, Sandvikas realized and unrealized h
9、olding gains respectively related to the warehouse were:a. 100,000 kroner and 1,900,000 kroner.b. 100,000 kroner and 2,000,000 kronerc. 200,000 kroner and 22,000,000 kronerd. 200,000 kroner and 2,000,000 kronere. None of the above.8. Sandvika Corp. acquired a warehouse at the start of the year 2000
10、- its first year of operation - for 10 million Norwegian kroner. The warehouse was to be depreciated over 20 years using the straight line method. At the end of 2003, an appraiser indicated that the replacement cost of the warehouse was 12 million kroner. For the year 2003, Sandvikas realized and un
11、realized holding gains respectively related to the warehouse were:a. 100,000 kroner and 1,600,000 kronerb. 200,000 kroner and 1,600,000 kronerc. 100,000 kroner and 2,000,000 kronerd. 400,000 kroner and 2,000,000 kronere. None of the above.9. Companies doing business globally respond to foreign users
12、 of their financialstatements in a variety of ways. Which of the following statements is true?a. Most companies opt for limited restatements since they result in limited costs.b. Secondary financial statements are the least expensive of the alternatives available to companies.c. The do nothing appro
13、ach is invariably the most sensible choice.d. Each approach can be appropriate for a company that uses it if the option chosen is a result of a reasonable cost-benefit analysis by management.e. A convenience translation is almost always chosen by management because of its convenience.第 3 页 共 5 页10.
14、Research evidence reviewed in the chapter showed that financial statements of two companies may lack comparability even if they are prepared using the same accounting principles. This suggests that:a. global accounting harmonization efforts serve little purpose.b. ratio analysis should never be used
15、 in comparing countries from different countries.c. it is important to factor in the companys domestic business environment in conducting cross-country ratio analysis.d. it is best to use convenience statements in comparing companies from other countries with ones domestic companies.e. All of the ab
16、ove statements are false.True/False Questions (20 points)1. Whether a countrys capital market is equity-oriented or debt-oriented has no impact on the financial reporting that develops in the country.2. In countries such as Germany, Japan, and Switzerland companies have traditionally turned to the s
17、tock market as their primary source of capital.3. The Organization for Economic Cooperation and Development issues accounting directives which have the full weight of law behind them.4. In international accounting, harmonization is a movement away from total diversity while standardization is a move
18、ment towards uniformity.5. In the foreign currency context, there is no distinction between the terms conversion and translation.6. Using the current exchange rate to translate current assets and liabilities (under the current/non-current method) is based on the false premise that they are similarly
19、 affected by exchange rate changes.7. The revised IAS No. 9 requires that research costs be expensed immediately and that development costs also be expensed as incurred unless they meet asset recognition criteria.8. The evidence from a number of research studies indicates a consensus that the geogra
20、phic segment disclosure provided in corporate annual reports is generally of a very high quality.9. Cost considerations and the need to tap capital providers in several countries sometimes results in companies providing country-specific rather than universal secondary statements.10. Research evidenc
21、e shows that large U.K. and U.S. firms which tend to have more experience in dealing with international capital markets are relatively less affected by accounting differences. Calculation (20 points)1. Important financial data for the British subsidiary of Millette Company (US) for the 2000 fiscal y
22、ear is shown below:第 4 页 共 5 页British pound sterling(millions)a) Net sales. 2,056b) Gross profit 1,203c) Income before taxes 669d) Net income. 481Assume the following average exchange rates for the year (US dollar per British pound sterling):1. $1.71 2. $ 1.65 3. $ 1.69 4. $ 1.59Using each exchange
23、rate, make a table converting a), b), c) and d) into US dollars. Determine which exchange rate produces the most favorable results in U.S. dollars. (10 points)2. Gator Corporation (U.S.) purchase equipment worth 2 million German marks from Holdstet (Germany) at the beginning of the year. The transac
24、tion was denominated in German marks. The exchange rate at that time was US $.65 = 1DM. However, due to a stronger economy, the German mark had strengthened against the U.S. dollar resulting in an exchange rate of US $.70 = 1DM at year end.a) Determine the transaction gain/loss that Gator Corporatio
25、n will report in its year-end income statement. (5 points)b) Determine the transaction gain/loss Holdstet will report in its year-end income statement. (5 points) Case (20 points)DSMs (Netherlands) 1998 corporate annual report included important financial data in both the Dutch Guilder (NGL) and the
26、 euro (EUR). Excerpts from the companys ten-year summary figures for the year 1998 are shown below.Income Statementin NGL million in EUR millionNet sales 14018 6361Operating result 1290 586Financial income and expense (156 ) (71)Result from ordinary activities before taxation 1134 515Tax on result f
27、rom ordinary activities (237) (108)Result of non-consolidated companies 42 19Result from ordinary activities after taxation 939 426Extraordinary result after taxation (21) (9)Result after taxation 918 417Minority interests share in the result (4) (2)Net result 914 415Per ordinary share in NGL:Result
28、 from ordinary activities after taxation 27.19 12.34Net result 26.43 11.99Cash flow 57.55 26.12第 5 页 共 5 页Questions 1. Comment on the differences resulting from DSMs conversion to the euro for the 1998 fiscal year. 2. Referring to your answer above, how will the conversion to the euro affect DSMs ba
29、lance sheet for the year? 3. In your opinion, with the introduction of the euro, what is the management at DSM likely to use to measure operating performance (ie., NGL or EUR or both)? Support your answer. Question (20 points)What are the three characteristics of financial reporting were identified as being particularly relevant to ECMs? Explain each of them.
