Summarize the impact of foreign exchange rates on the company’s financial statements.

Which TWO of the following statements would be an advantage of adopting IFRS Standards? i) It would be easier for investors to compare the financial statements of companies with those of foreign competitors. ii) Cross-border listing would be facilitated. iii) Accountants and auditors would have more defence in case of litigation. iv) The IFRS Standards can be more easily tailored to reflect the industries of the territory adopting them.

Which of the following best describes ECHO (Exchange Clearing House Limited)?   A digital sound system that produces repetitive sound waves.   A financial tool used to measure a country's economic output.   A global stock exchange platform used by major financial markets.   An international clearing house primarily for forex transactions.

there are two aspects when it comes to translating financial statements from one currency to the other. What are these two aspects? How do you go about translating each account on the financial statements from one currency to the other?

Exporters and importers are regularly involved in the trade finance function. Examples, letters of credits and or documentary collections.In detail, and by providing examples, please discuss the differences between the two methods of trade finance, and state advantages and disadvantages of each method. Further, please set up a flow chart, depicting the movement of goods from an exporter to the importer, and the function of trade finance, as related to commercial, transport and financial documents. Finally, what is the role of the commercial banks in this process?

Identify trends, examine financial market principles and standards, make judgments, and prepare recommendations or solutions. Be sure to explore issues of diversity and ethics as related to money markets. also Assess why money markets are of interest to an accountant and why organizations should also share this same concern.

2.Explain the environmental factors that lead to national differences in accounting.   3.What are the two main legal systems operating worldwide? How might these affect accounting?   Countries that rely on capital markets for finance, as opposed to banks and governments, are likely to expect greater levels of public disclosure in their accounting systems. Evaluate this argument and provide examples.   5.Outline and discuss three cultural aspects that can differ across countries. How do these cultural differences relate to differences in accounting systems?   6.What does accounting harmonisation mean? Differentiate harmonisation from convergence or adoption.   7.Explain the bene­fits of global adoption of IFRSs.   8. Outline the key challenges of US GAAP and IFRS convergence.

What are the financial issues, export practicalities and technicalities that an exporter would need to know about to in the context of developing an export strategy?

Companies that compete in an international marketplace may be faced with three types of risk owing to foreign exchange.These are: *       A. specific, translation and transaction risk.       B. translation, transaction and economic risk.       C. accounting, transaction and translation risk.       D. accounting, specific and transaction risk.

Explain the major factors influencing the international development of accounting systems.