Globalisation in financial context
Economic and Financial Flows 
Tax considerations and exchange rates in a global context
Balance of payments
- records all transfers of capital overseas
- records financial inflows
financial account - registers payments for imports and exports
Foreign direct investments
Multinationals
In at least two different countries
Important actors in the global economy
Establish plants and offices in other countries
FDIs are aimed at securing operational control
International tax rates
Result if taxes aren't paid correctly
Exchange Rates
Fluctuations in exchange rates increases difficulty for operating globally
The foreign exchange market- Where the exchange rate is determined
The price of currency will adjust until equilibrium
Changes in supply and demand
Fundamentals of financial reporting
Stewardship
Industrial revolution called for large investments
Borrowed Finery
IFRS Standards