In Module Two, you will prepare a draft of the section of your final presentation that covers the topic of global business. Your work should include an emphasis on diversity, culture, and potential issues with conducting accounting business internationally.
For this project, consider this scenario: you have worked very hard and have just earned a promotion at Quality CPA firm. As part of your new responsibilities, you will be advising an influential client on their international aspirations. Their business has been booming and they are seriously considering expanding their operation overseas. They are concerned about the political and financial risks of such an undertaking.
You will build a multimedia presentation (utilizing audio, if possible, with speaker notes to elaborate) that addresses the upper management of this company. You will choose a country other than the United States. This country will be presented as a potential destination for the company, although other countries can be included, as the global market is the focus. The presentation must explore the company’s potential expansion into the chosen country, the global market in general, and how that will impact their operations.
Specifically, the following critical elements must be addressed:
I. Global Business: For this part of the assessment, convey to your audience the differences between accounting practices around the world.
A. Explain the influence of environmental issues of diversity on accounting practices.
B. Evaluate the impact of the chosen country’s culture on their financial accounting standards.
1. What accounting principles could help inform your response (i.e., Hofstede’s dimension of culture, Gray’s accounting values, etc.)?
C. Evaluate the impact of potential issues on business operations that may arise when conducting accounting business in the chosen country.