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Global Finance image, Companies = same multinational group trade,…
Global
Finance
Transfer pricing
:!?:
Transfer mispricing: traditional approaches
Unitary taxation apportions profits :red_cross: company/multiple units
Obstacles
path dependency (hybrid)
vested interest
technical issues
The arm's-length principle (unrelated companies trade)
Foreign exchange
('forex')
Shifts in demand
=
:arrow_double_up: exchange rate
Shifts in supply: :arrow_double_up: overseas interest rates
Equilibrium :check: quantity supplied
=
quantity demanded
:arrow_up_down:products
=
:arrow_up_down:pound globally
Why:!!: (Help create growth and jobs)
Demand pounds abroad
=
UK product demand
(elastic/inelastic-pricing)
McBurger index (over/undervalued assessment)
Overcoming problems, analyse markets-currencies
Impact of exchange rate (imports/exports/competition/currency
value/demand/switching)
Government intervention
=
buy own currency, using another currency :arrow_double_up: interest rates
Evolution (global financial regulations)
Investors information
(Ind.Revolution - lessons)
Borrowed finery >
Eco.evolution
(Anglo-Saxon & commercial-code-accounting)
Managing national economy
(SMEs avoid bankruptcy & investments)
Imperialism
=
Eco.domination!
Stewardship
(simplist reporting
=
track record)
Taxation (basis:question:)
Global economic/financial flows
Balance payments
Current Account:
import/income/export/money register
Financial Account:
direct/portfolio investments/reserve assets
Capital Account:
transfers to/from abroad
Foreign :arrow_right: investments
Important element (global trade)
Invest financially globally
Secure operational control
Why jurisdictions have
different rules
Contingent model - change =
regulation :arrows_clockwise:
Means of regulation
= models(x2)
Common law (courts)/Roman law (procedures)
Objectives of financial reporting (IASB) =
summary:
assets/liabilities/equity/income/expenses/cashflow
Mission - IFRS
Foundation & IASB
(transparency/accountability/efficiency)
How
=
IASB (Board) sets stds
Process
=
agenda/research/standards/implementation
IFRS standards? Prep - financial stds
Why adopt
=
improves comparability & transparency globally
Vision
=
single global accounting stds
Profiles - use of IFRS Standards
Info incl.
endorsement of standards
eliminated options
extent of application of standards
process for translation
public committment
adoption
survey participant details
IFRS Standards Overview
16 SME Standards
Conceptual Framework
41 IAS Standards - financial statements
(structure & minimum requirements)
Companies = same multinational group trade
Mispricing: :forbidden:
strong/weak/appreciates/depreciates
:lock: :unlock: :question:
