
244 International Business
Pertinent issues in this context relate to:
■ Country dierences in accounting and international harmonization
■ Foreign currency translation
■ Cross-border transfer pricing issues
■ Tax treaties and strategies
NATIONAL AND INTERNATIONAL ACCOUNTING STANDARDS
Accounting standards are rules for preparing financial statements. They lead logically to auditing standards,
which specify the rules for performing an audit. These rules become legal requirements, and the follow-
ing national standards illustrate clearly how cross-country accounting can be an accountant’s nightmare.
The Netherlands uses current values for replacement ...