© 2000 John Petroff
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© 2000 John Petroff |
Exercise, Cases & Assignments
Research assignments:
R-7.1 Obtain a textbook on an old accounting system that does not comply with international accounting. Set out the guiding principles. Discuss how different it is from GAAP and/or international accounting.
R-7.2 Choose a European country accounting system. Give the major aspects of the system and discuss whether it is full compliance with international accounting. Research what the accounting system was prior to the creation of IASC in 1973 and comment on differences at that time.
R-7.3 Inquire in a research library if there are any articles about Russian accounting and/or Russian financial analysis. Study how these are described and suggest areas of difficulty for applying them in a market economy context.
R-7.4 Read articles about Russian difficulties in collecting taxes. Study in these writings whether a transformation of the accounting system would help.
R-7.5 Read articles about capital markets in Russia. Report on the problems of investors and corporations. Discuss to what extent the lack of adequate financial reporting and analysis is a hindrance on economic recovery.
R-7.6 Obtain the financial statements which are not prepared according to international accounting standards. Offer a conversion of the statements to comply with international accounting. Discuss all the steps you recommend for such conversion.
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