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A Study on Accounting Measurement and Management for Multinational Corporations’ Exchange Risks

Author: LinXiuRong
Tutor: ChenXiaoHong
School: Central South University
Course: Management Science and Engineering
Keywords: Waifeifengchu Risk exposure Accounting measurement The foreign bandit risk management
CLC: F275
Type: PhD thesis
Year: 2004
Downloads: 843
Quote: 8
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Abstract


Fluctuations in the international economy in recent years with the financial turmoil, causing great threat multinational companies suffered foreign exchange risk, and thus everyone emphasis on the management of foreign exchange risk. China joined the World Trade Organization (WTO) in December 2001, many companies are actively expanding business abroad and toward the global layout of the occasion, let it recognize the accounting measurement and management of foreign exchange risk, so that to avoid foreign exchange risks and successfully expand their business, reach business stability and growth objectives, and thus the cause of this study. Foreign exchange risk accounting measure, is the measure of exchange rate changes caused by changes in the domestic currency cash flows, as well as assets, liabilities, value and reported earnings arising from changes in the accounting statements. Its measurement system, depending on the type of multinationals held exposure, can be divided into conversion risk, trading risk and economic risk. Translation of the balance of risks, the Department had accounted for the statements of the foreign currency matters, accounting standards and bulletins to be measured; the transaction risk measure, is to be measured have been identified and anticipated foreign currency transactions within a specific period, and also take advantage of the Accounting Standards communique: measure of the economic risk of future economic activity, considering the company's overall ability to adjust, and for the economic analysis of the measure. Foreign exchange risk management is to prevent exchange rate movements caused by the adverse effects of the company's financial, its methods must first be set according to the risk attitude management objectives and hedging policies, and the establishment of early warning system, set the hedging strategy and execution. Management objectives are generally based on a reasonable cost to avoid risks mainly hedging policy adopted more selective hedging. Establish an early warning system to monitor the foreign exchange risk decision management whether or not the indicator can be divided into the exchange rate changes, the risk of exposure and three indicators of the decision criteria. Indicators of exchange rate changes, is to determine the need for management according to predict the magnitude of exchange rate changes; exposure indicators, based on indicators of current and future period, the amount of risk assets and liabilities held to decide whether management; decision-making criteria, in accordance with the principles of cost-effectiveness, the size of the hedging strategy the cost and risk of loss, to determine the need for management and what hedging strategy. Set hedging strategy and execution of foreign exchange risk management, the parties are required to be set in accordance with the subjective and objective conditions applicable hedging strategies, and then according to the decision criteria to determine the hedging strategy, and According to perform. When executed, the internal units must complement each other, and the beginning of smooth operation, to achieve the desired goals.

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CLC: > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management
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