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Sec Problems of Foreign Issuers

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Title: Sec Problems of Foreign Issuers
Authors: Chiang, Eric
Issue Date: 26 Sep 2014
Publisher: University of Hawaii at Manoa
Abstract: Just as the laws and customs of nations all over the world differ in many respects from those in the United States, so also are there differences in accounting principles, auditing standards and procedures, and reporting practices all over the world. Financial statements prepared by a foreign corporation more than likely differ in many respects from financial statements prepared by a United States corporation. Not only are the statements different in their form and content, but there also may be significant differences in the accounting principles underlying their preparation. These are some of the areas in accounting with respect to which conflicting—and sometimes contradictory—views are held throughout the world: Certain methods of accounting for inventories are accepted in some countries and rejected in others. The LIFO method, which is permitted in the United States, is not accepted in some other nations. Conversely arbitrary write-downs of inventory which are acceptable in some countries would not be permitted in the United States.
Pages/Duration: 248 pages
Rights: All UHM Honors Projects are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission from the copyright owner.
Appears in Collections:Honors Projects for Finance

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