Foreign Co$,$ a New Zealand company that manufactures beer, is publicly traded, with shares listed on the New Zealand Exchange. As required by law, Foreign Co uses only four ingredients in its products: malt, hops, yeast, and water. While the other ingredients are obtained locally, Foreign Co imports hops from a company located in Ireland. Historically, Foreign Co$$s products were marketed exclusively in New Zealand. To take advantage of a potentially enormous market for its products and expand sales, Foreign Co began making sales in Japan $2$ years ago. The company established a wholly owned subsidiary in Japan $($T BEER CO$)$ to handle the distribution of Foreign Co products in that country. In the most recent year, sales to T BEER CO accounted for $30\%$ of Foreign Co$$s sales, and T BEER CO$$S sales to customers in Japan accounted for $10\%$ of Foreign Co Group$$s total profits. In fact, sales of Foreign Co products in Japan have expanded so rapidly, and the potential for continued sales growth is so great, that the company recently broke ground on the construction of a brewery in Tokyo. To finance construction of the new facility, Foreign Co negotiated a listing of its shares on the Tokyo Stock Exchange to facilitate an initial public offering of new shares of stock.

Discuss the various international accounting issues confronted by Foreign Co$.$