1. MNC REPORT
At the beginning of the course, you will select a multinational company and present the name of the company to your professor for approval.
– My MNC is Amazon.com, Inc.
Your approved multinational company will serve as an example for discussion throughout the semester and you will be required to do research on your company in order to answer many of the homework questions.
– What we discussed: foreign currency transaction, hedging, transfer price, international taxation, impacts on new revenue recognition accounting standards, etc…
At the end of the semester you are required to write about 3 page report summarizing the concepts of IFRS and international accounting issues as they relate to your MNC. This report should be written in your own words and double spaced. What you are being asked to do is to capture the experience of the research that you did on your selected MNC. I do not expect you to quote from sources but to write what you learned about your MNC. I do not expect APA style re format or references. It’s just an essay. Also make sure that you include in your summary whether or not you enjoyed the research and anything extra you may have learned about your MNC as a result of the research.
International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. It came up as a way to harmonize accounting across the world. This discussion will focus on the concepts of IFRS and international accounting issues as they relate to Amazon.com, Inc.
Amazon.com, Inc. was incorporated in 1994 in the state of Washington and reincorporated in 1996 in the state of Delaware….