Week 1 Case 1: The New York Stock Exchange (NYSE) provides a list of non-U.S. companies listed on its exchange on its website (www.nyse.com). (Hint: Search the Internet for “NYSE List of Non-U.S. Listed Issuers.”)
Required:
Look the number of foreign companies listed on the NYSE and the number of countries they represent.
Select one of the foreign companies listed on the NYSE. Select a different one from your classmates.
Speculate as to why non-U.S. companies have gone to the effort to have their shares listed on the NYSE and what modifications they would need to make to their financial statements.
*Do not forget to include proper APA formatting and citation where necessary. Do not forget to respond to the other cases this week.
Week 1 Case 2: Refer to Case 2-1 in your textbook, found in Chapter 2, and discuss the following.
Required:
Part 1: Discuss the implications for the global convergence of financial reporting standards raised by Gray’s model.
Part 2: Discuss the implications this argument has for the comparability of financial statements across countries, even in an environment of substantial international accounting convergence. Identify areas in which differences in cultural dimensions across countries could lead to differences in the application of financial reporting.
Part 3: Discuss the implications that the model presented in Part 2 of this case has for the internal auditors of Cancan Enterprises in carrying our their responsibilities.
Part 4: Discuss any ethical concerns.
