Modern Breweries Ltd. is an Indian beer producer headquartered in Bangalore, India. The company, which was founded in 1975 by Mr. Malhotra, is publicly traded, with shares listed on the Bangalore Stock Exchange. Modern uses only four ingredients in making its products: malt, hops, yeast, and water. While the other ingredients are obtained locally, Modern imports hops from a company located in the Czech Republic. Czech hops are considered to be among the world's finest. Historically, Modem's products were marketed exclusively in India. To take advantage of a potentially enormous market for its products and expand sales, Modern began making sales in Taiwan five years ago. The company established a wholly-owned subsidiary in Taiwan (Modern Point) to handle the distribution of Modern products in that country. In the most recent year, sales to Modern Point accounted for 20 percent of Modern's sales, and Modern Point's sales to customers in Taiwan accounted for 10 percent of the Modern Group's total profits. In fact, sales of Modern products in Taiwan 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 Tainan, Taiwan. To finance construction of the new facility, Modern negotiated a listing of its shares on the Taiwan Stock Exchange Corporation, Taiwan to facilitate an initial public offering of new shares of stock. Required: Discuss in detail the various international accounting challenges faced by Modern Breweries Ltd., Bangalore, India