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Intermediate accounting Chapters 3 and 4-With 100% Correct Answers

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Intermediate accounting Chapters 3 and 4-With 100% Correct Answers Auditors Report - CORRECT ANSWERS-management responsible for financials. Unqualified, qualified, adverse, and disclaimer. Proxy Statement - CORRECT ANSWERS-election of board members. 1992 (SOX)- must include Executive pay, benefits, and options- compensation package working capital - CORRECT ANSWERS-current assets less current liab. shows ability to pay short term debts current ratio - CORRECT ANSWERS-current assets divided by current liab. Acid test (quick) Ratio - CORRECT ANSWERS-Quick assets includes all current assets except inventories and prepaid. Quick Assets divided by current liab. single step income statement - CORRECT ANSWERS-all revenues and gains, all expenses and losses, = net income Multi-step income statement - CORRECT ANSWERS-more complex income statement earnings per share (EPS) - CORRECT ANSWERS-start at income from continuing operations / shares of commons stock. each category from that point on until final net income/shares of common. unusual event - CORRECT ANSWERS-material event unusual and infrequent Change in Accounting Estimate - CORRECT ANSWERS-not usual, do not change previous years- just from this point on change in reporting equity - CORRECT ANSWERS-if company A and B merge, Restate all prior year statements included in financials Accounting Error - CORRECT ANSWERS-Correct if in this year, if prior year-RE Comprehensive Inc - CORRECT ANSWERS-reported at the bottom of income state of its own statement Matching Principal - CORRECT ANSWERS-revenues when earn, expenses when incurred in period belong revenue recognition - CORRECT ANSWERS-when earned and reasonably certain of Collect ability

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MAN 6635 Final Exam-Questions &
Correct Answers -A+ Grade
Polycentric Staffing Approach - CORRECT ANSWERS-Fill key managerial positions
with locals

Appropriate when company wants to "act local"


Advantages
- Local managers familiar with local culture, language, and ways of doing business
- Local managers have local contacts
- Local managers more likely to be accepted by people inside and outside the
subsidiary
- Usually less expensive than sending manager from HQ

Disadvantages
- Difficulty coordinating activities and goals between subsidiary and HQ
- Potentially conflicting loyalties of local manager
- HQ managers of international firms don't get international experience

Global Staffing Approach - CORRECT ANSWERS-Best managers are recruited from
within or outside the company, regardless of nationality

Very well might not be from home or host country


Advantages
- Largest pool of qualified applicants
- Applicants tend to have
cultural flexibility and adaptability
bilingual or multilingual skills
- Perceived by employees as acceptable compromises between HQ and local
managers
Cheaper to transfer employees from some countries than others

Disadvantages
- Lack of managers who want to work all around the world
- Conflicting requirements of host governments
- If they'll go anywhere for your company, what's to keep them from going to another
company?

Business Strategies of MNEs & Staffing - CORRECT ANSWERS-Global business
strategy = ethnocentric staffing

, International business strategy = ethnocentric staffing

Multi-Domestic business strategy = polycentric staffing

Transnational business strategy = global staffing

International Assignees/Expatriate - CORRECT ANSWERS-When parent country
nationals are transferred to another country to work in a subsidiary or other type of
operation of the MNE for more than one year, they are generally referred to as
expatriates or international assignees

Recruitment - CORRECT ANSWERS-Searching for and attracting qualified applicants
to create an applicant pool

Selection - CORRECT ANSWERS-Gathering and analyzing information about
applicants in order to select the most suitable person or persons for the job

Repatriation - CORRECT ANSWERS-The process of bringing an international assignee
and their family back home from foreign assignment

3 goals of recruitment - CORRECT ANSWERS-- Attract many applicants.
- Attract quality applicants who "fit" the position.
- Increase the likelihood of acceptances

Internal Recruitment Sources - CORRECT ANSWERS-For All Jobs:
- Internal Job Posting

For International Assignment Specifically:
- Global Talent Management Inventories
- In-House Global Leadership Programs
- Former/Current Expatriates
- International Succession Planning Programs
- Nominations from supervisors or other expatriates

Positives and negative of recruiting from within - CORRECT ANSWERS-Positives:
- Creates a well-known sample of applicants
- Reduces labor costs
Allows vacancies to be filled quickly
- Enhances employee development
- Enhances company reputation

Negatives:
- Creates another vacancy
- Being good at a job doesn't mean you'll necessarily be good at supervising that job or
doing that job abroad

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