Megascreens USA Inc.—A Foreign Operations Case

Autor:	S. E. C. Purvis, Charles Carslaw
Rok vydání:	2007
Předmět:	Finance business.industry Accounting management Financial ratio Accounting International Financial Reporting Standards Accounting standard Education Consolidation (business) Accounting information system Economics Cash flow statement Financial accounting business
Zdroj:	Issues in Accounting Education. 22:579-590
ISSN:	1558-7983 0739-3172
DOI:	10.2308/iace.2007.22.4.579
Popis:	This relatively short case gives students a comprehensive overview of the steps required to prepare consolidated financial statements under U.S. GAAP when a subsidiary prepares its accounts under a foreign GAAP—in this case, International Financial Reporting Standards (IFRS). While the case is closely based on an actual Australasian company seeking listing in the United States, the product and the exact financial details are disguised. Specifically, the case exposes students to the following: accounting for foreign currency transactions; adjustments to convert foreign GAAP to U.S. GAAP (accounting for license fees); translation of financial statements; change of functional currency; remeasurement of financial statements; and foreign consolidation and statement of cash flows with foreign operations. The case has been field-tested in an advanced accounting course and is also suitable for use in international accounting courses. Both undergraduate and graduate students have profited from the case.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::4c3e9d144641845e9f7baa0c754ea287 https://doi.org/10.2308/iace.2007.22.4.579 Zobrazit plný text záznamu Plný text ve formátu PDF