1.Define globalization and international business and explain how they affect each other. 2.Why companies engage in international business and why the growth of international business has accelerated? 3.Explain the major causes of cultural differences and change. 4.Discuss the problems and methods of learning about cultural environments. 5.List and describe the various modes of international business as described in the text. 6. What is the different between licensing and franchising? 7.What
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EXAM 1 REVIEW About an hour and a half long. * On chapters 1-6 * 10 questions (short response) * 6 or 7 sentences each (you can bullet some of them) * Focus on main concepts of chapters * Know what Externalization is (pg. 233-234) * People maintain the view that corporations have responsibilities that go beyond making money because of their great social and economic power. Business is governed by an implicit social contract that requires it to operate in ways that
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regime of International Accounting Standards Committee (IASC) in standard setting. The IASC was issuing International Accounting Standards (IAS). So far there were forty one IAS which had been issue before IASB replaced IASC in 2001. As one of the major weaknesses of IASC was that the standards it was issuing contained many objectives thereby defeating the purpose of consistency in recognition‚ measurement and presentation of transactions. IASB intends to limit such choice of accounting treatments
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International Financial Management & Corporate Hedging Disclaimer: This set of slides was prepared for the ISUP summer course at Copenhagen Business School (CBS). It may contain errors. Do not cite or distribute without the authors‘ prior consent. The slides are accompanied by an online Wiki covering all topics and calculations. The Wiki script is also available in print. Dr. Jakob Müllner Vienna University of Business and Economics Agenda Graduate Course I. Introduction Organizational Matters
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establishes the basic legal parameters governing business enterprises. On the other hand‚ in countries with a tradition of common law (UK)‚ specific accounting rules are established by the profession or by an independent nongovernmental body representing a variety of constituencies. Thus‚ the type of legal system in a country tends to determine whether the primary source of accounting rules is the government or a nongovernmental organization. Code Law: the accounting law tends to be rather general and does
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increase in international capital flow‚ the economy of the world is now in the process of globalization. Accounting‚ as ‘a major tool of business communication’ (Walton et al.‚ 2003)‚ plays a crucial role in promoting the growth of the global economy. Therefore‚ a relatively harmonious and comparable accounting system which could be accepted and understood by all the countries is required for several reasons. Firstly‚ accounting diversity represents an obstacle to the understanding of accounting information
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Intermediate Accounting Paper The Financial Accounting Standards Board (FASB) is a private‚ not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States in the public ’s interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. It was created in 1973‚ replacing the Accounting Principles Board and the Committee
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CITY OF LONDON COLLEGE Cambridge Satchel Company Small Business Enterprise Table of Contents Introduction In this modern business world‚ competition makes the whole quality process straighter. Competition makes the competitor’s to feel about the quality products and services (Adcock D et al.‚ (001). Cambridge Satchel Company is the organization which produces quality leather bags for every people of every level. The organization
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Brief About AS-16 Borrowing cost Background: A Business Enterprises requires fund for either of following 2 purposes: a) To finance its long term assets like plant and machinery‚ properties‚ furniture etc b) To finance its working capital needs for ensuring smooth functioning of its business activities In case of business enterprise goes for Expansion .i.e it enters into new line of business or goes into new product line or set up new plant‚ funds are required Incase of well established
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Introduction A multinational company is a corporation business enterprise with manufacturing‚ sales‚ or service subsidiaries in one or more foreign countries. Multinational companies reflect the strengths and weaknesses of their own country‚ so that sometimes government authorities spend public money supporting local industries or individual companies. It brings both opportunities and pitfalls for national firms in engaging their governments on their behalf. It is the WTO’s job to prevent downsides
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