General Motors Corp. is the world's largest automaker and has led the auto industry worldwide in sales
Question:
GM operates its own facilities worldwide, but it also has global partners in Italy, Japan, South Korea, Germany, France, and China. In Japan, its global partners are Fuji Heavy Industries Ltd., Isuzu Motors Ltd. and Suzuki Motor Corporation. In China, it has a vehicle manufacturing venture with Shanghai Automotive Industry Corp.
A major challenge that GM faces in both Japan and China is that both have financial reporting and measurement practices that differ from both U.S. GAAP and IFRS issued by the IASB. Assume you have just been hired by GM as an intern, and your first assignment is to research the convergence of China's financial reporting standards with U.S. or IAS GAAP since 1999. Compare China's historical path of convergence with Japan's over the same period of time. What societal values and economic goals have caused the two Asian countries to develop different financial reporting standards? What societal values and economic goals have caused the two Asian countries to develop similar financial reporting standards?
Answer needs to be of MBA status, answered correctly and professionally. There are no page or number of words requirements.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
Question Posted: