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Consolidating U.S. and Foreign subsidiary financial statements
Finance & Accounting
Pages 7 (1757 words)
Name Professor Subject Date Consolidating U.S. and Foreign Subsidiary Financial Statements Introduction Companies are supposed to adopt integrated approaches to build a strong framework with IFRs. To b in a position to achieve this, they require to be having a fully a solution that fully integrated that should be ideal to support the adoption of IFRs.
Is Consolidating U.S. and Foreign-based Financial Statements Hides Useful Information? The author makes a conclusion that consolidating U.S. and foreign-based financial statements withholds some information to both the public and their foreign counterparts. This is evident in many situations within their many business transactions and statements. The first case where crucial information about financial statements is masked is while translating foreign currency. According to the author, the literature that shows foreign currency translation is usually categorized into four groups. The first group shows surveys issues related to the many changes that occur in the management behavior. The second, on the other hand researches on effects that come after using alternative methods of translating financial statements. The third literature is one which studies the market and the many emerging behaviors related to market patterns, and the final study reveals different preferences that are used as translating methods, this is done by making early adoption and embracing SFAS. However, studies that are made in the first category, a study were conducted on almost 70 Multinational Companies from different parts of USA. ...
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