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Patricia Duong, having recently obtained her MBA, has been hired by one of the last of the large investment banking firms. As part of her responsibilities, she is required to make recommendations on investing in securities of foreign companies. During her lunch hour, Patricia runs into a colleague and complains about the difficulties she encounters with the lack of comparability in the financial statements of firms from different countries. She is puzzled by the inability of national accounting standard-setting bodies to agree on and implement a uniform accounting regime globally since, in her view, this would represent a win-win situation for all concerned.
1. Pretend you are the individual that Patricia is talking to. Explain why only one uniform accounting and reporting standard may not necessarily represent a win-win situation for all concerned.
2. Discuss the advantages and disadvantages of having diverse accounting standards that are the product of each country's national environment.
3. Discuss the issues raised when a country or region adopts some, but not all of the International Financial Reporting Standars.
4. In your opinion, should convergence be pursued?
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the company sold 200 more flash drives than planned. What is the expected effect on profit of selling the additional drives? Compute the contribution margin ratio associated with one flash drive.
In the past, the 10 persons employed in the production of Fruta consisted of 4 senior workers and 6 assistants. During June, the company experimented with 5 senior workers and 5 assistants. Would you recommend that the new labor mix be continued?
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Show whether Loewen Group expansion from funeral homes to cemeteries affected its vertical or horizontal boundaries or both.
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