International
Business and Accounting
Teacher
Page
Introduction|Task|Process|Resources|Evaluation|Conclusion
You have explored sole proprietorships, partnerships, and corporations but only as domestic businesses. Now its time to explore accounting and business in a global economy. Accounting isn’t just the language of business it is the language of international business. Doing business at the international level presents some additional challenges including differences in language, time zones, currencies, customs, and measurements to name a few. Your company is considering expanding into the international market place and has asked you to investigate the various challenges associated with such a move.
Introduction|Task|Process|Resources|Evaluation|Conclusion
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You will
be provided with six topic summaries. Each topic has several questions
for you to explore. You will select one of the topic summaries and
conduct the necessary research to prepare a written
summary and powerpoint presentation. You will also be required
to track the monetary markets related to the countries associated with
your topic summary. Two weeks of monetary exchange rate fluctuations
must be presented in an Excel table and graph. This table and graph
must be included in your report and powerpoint presentation. Some additional
common questions must be answered by all students. |
Introduction|Task|Process|Resources|Evaluation|Conclusion
The following brief essays describe various business and financial practices from around the world. Each provides questions to start you on your way to investigating the international business world. Choose one of these essays and use the provided resources to prepare a written summary of your findings as well as a powerpoint presentation. |
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| NAFTA's purpose was to increase economic unification between the US, Canada and Mexico. | |
| In 1999 the euro was introduced as the official monetary unit for eleven of the 15 member countries of the European Union. | |
| India has made a commitment to expanding its involvement in international trade through both the manufacturing and service industries. | |
| In 1999 the Bank of Japan lowered the overnight unsecured interest rate to 0.08 (almost zero) percent | |
| In Kenya farmers clash with the wildlife that attracts tourists form around the world. | |
| Cultural and governmental differences effect accounting principles and procedures. |
The following
items need to be researched and completed by everyone.
Source
documents from different countries can have different date formats. The International
Organization for Standardization (ISO) promotes the world wide use of a single
format. Visit their website and use the international format to write the
date on all of your documents for this assignment.
The
international businessperson may have difficulty scheduling meetings with
other managers do to time differences and working hours in foreign countries.
Imagine your company is headquartered in Reading Pennsylvania and you must
schedule a telephone meeting with someone in one of the countries mentioned
in your essay. Use a location that represents the greatest time difference.
When would you schedule the meeting?
Many
countries write their numbers in a form different from the United States.
When writing numbers during this assignment write them following the tradition
of the non-English-speaking world
Choose a currency use by a country associated with your essay
along with another foreign currency and track their exchange rates with the
U.S.
dollar
for a
two week
period. Use Microsoft Excel to create a table and a line chart for your data.
Include this table and chart with your written report.
Introduction|Task|Process|Resources|Evaluation|Conclusion
Use
the following resources to assist you in accomplishing your task.
International
Standard Date and Time Notation
Foreign
Agricultural Service's take on NAFTA
Foreign currency transactions and your bookkeeping
Trade and Economic Profile for India
Japanese Government Bond Rates
Factors affecting Dollar-euro currency exchange
How is the foreign exchange rate determined of one country to another?
International Business Culture
World Biz - Doing business worldwide
Introduction|Task|Process|Resources|Evaluation|Conclusion
You
will be evaluated in four areas for this WebQuest: Work Ethic, Written
Report, PowerPoint
Presentation and Class Presentation. Each area will be graded using a different
rubric. You must PRINT THE RUBRICS for WORK ETHIC, WRITTEN REPORT, AND POWERPOINT;
SCORE YOUR EFFORTS in each area and HAND IN Your COMPLETED RUBRICS with your
Written Report. Please follow the links below to each of the RUBRICS.
The scores on all four Rubrics
will be added together and multiplied by two to obtain your Total score
for this progect.
Introduction|Task|Process|Resources|Evaluation|Conclusion
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After completing your investigations and evaluations, you will be able to identify at least four challenges to conducting business on an international level as well as ways to overcome and account for each. |