XYZ Corporation is a U.S.-based corporation. It has decided to move some of its accounting operations abroad. The company will continue to use U.S. GAAP for external reporting purposes. Should the company insist that the employees located in the international locations follow the U.S.-based corporate culture? Explain?

Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its subsidiaries is headquartered in Toronto. Although this wholly owned company operates primarily in Canada, it engages in some transactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (C$). As of December 31, 2020, the subsidiary is preparing financial statements in anticipation of consolidation with the U.S. parent corporation. Both ledgers for the subsidiary are as follows:   Main Operation—Canada   Debit   Credit Accounts payable       C$ 57,410 Accumulated depreciation         49,000 Buildings and equipment C$ 189,000       Cash   48,000       Common stock         72,000 Cost of goods sold   225,000       Depreciation expense   9,100       Dividends, 4/1/20   41,000       Gain on sale of equipment, 6/1/20         7,200 Inventory   101,000       Notes…

The U.S. system of accounting for worldwide income is not the norm in the rest of the world. Do you think that's a good thing or a bad thing or indifferent?

Reaction paper about the Legality of The Assault on Tax Avoidance Practices in the Philippines

15. Beginning in the 1980s, Interstate Banking became an important issue for banks and the companies they do business with. Finally, in 1997 the United States allowed nationwide banking. Explain the implications of nationwide banking for the banks and for the multination corporations that borrow from the banks.