Definitions of "Multi-national corporations" |
| Corporations which have their home in one country but operate and live under the laws and customs of other countries as well. |
| A company is multinational if it does business in more than one country in such a volume that its well-being and growth rest in more than one country. |
| A U.S.-based multinational firm is one with corporate headquarters in the United States, but in their organization, their business, their scope, they are world-wide. Corporate top management is not concerned with any one region or territory.... An international business demands of its management people that they think and act as international businessmen in a world in which national passions are as strong as ever. |
Six approaches of multinational corporations to accommodate foreign readers of their financial statements. |
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| 1. | Do nothing. | |
| 2. | Prepare "convenience translations" | (Language translations only) |
| 3. | Prepare "convenience statements" | (Language and currency) |
| 4. | Restate on a limited basis | (Disclosure and reconciliation) |
| 5. | Prepare "secondary" financial statements | (Same basis as reader's home country) |
| 6. | Prepare financial statements according to "world" accounting principles. | Moving
closer! |