It is easy to dismiss discussions of foreign activities by affirming that your p

Question

It is easy to dismiss discussions of foreign activities by affirming that your plans never include working for a publicly traded company with international operations or dealing with clients of major accounting firms that might have such issues. But that would be incredibly short sighted.

Please respond to the following questions.

How might you encounter international issues in your career as an industry or client-serving accountant?

Consider the implications of U.S. exporters; U.S. retail companies that purchase goods internationally; or U.S. parents that acquire international subsidiaries that must be consolidated.

How might international issues affect your career more broadly, in terms of educational requirements or broad economic effects?

Consider the future of convergence and potential international reporting obligations, and economic situations that are affected by the relative strength of the U.S. dollar against foreign currencies.

Explanation / Answer

Ans :

Because the accounting regulations are different for each country it is extremely important for an accountant to be familiar with all regulations in the U. S and abroad.We might encounter these issues when a company purchases a company overseas that will use this company to purchase inventory through , to stock the parent company . Importing and exporting is an active thing happening today in the business world.There are many items that are purchased overseas to make final products here in the U. S , so we must be educated enough to account for the differences that arise when doing business overseas.

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