accounting discussion questions

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Please write a detailed and informative paragraph answering each discussion question below.

Please make sure that the references that you use for each discussion are located under each discussion answer when submitting completed work.

Discussion One

The U.S. dollar has fluctuated in value against other currencies since the early 1970s. The value of a currency is determined by the supply and demand for the respective currency in a particular country. Discuss the factors that influence supply and demand for the U.S. dollar in foreign exchange markets. How do these changes affect consumers and businesses that operate only in the U.S.? In addition, consider recent events (those from the last two years or less) that may have affected the U.S. dollar’s strength or weakness. Examples include recent elections or government activity, U.S. debt and rating, interest rates, and the like. Support your position with scholarly sources and peer-reviewed industry publications per APA style of citation.

(Please include peer reviewed references under each answer)

Discussion Two

Discuss the meaning of this statement: All foreign currency transactions are in a currency other than the entity’s recording currency. These transactions can include purchases or sale of goods and services in a foreign currency, loans payable or receivable in a foreign currency, and purchase or sale of foreign currency units. Define and describe the difference between functional currency, reporting currency, and local currency in the context of a multinational company and its subsidiaries. How do they relate to foreign currency translations, re-measurement, and reporting? Support your position with scholarly and peer-reviewed sources per the APA style of citation.

(Please include peer reviewed references under each answer)

Discussion Three

Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, such as:

  • External parties infiltrating corporate IT systems to steal customer information
  • Unauthorized parties stealing and using patents and other protected information
  • Corporate management falsifying documents and altering internal systems to steal funds from both corporations and customers
  • Internal corporate fraudsters establishing inappropriate processes to obtain vital information.

Each of these events caused the financial statements of the affected corporations to change in multiple ways, providing evidence that fraudulent activities may have occurred. What methods (or process) should these corporations establish to identify potential cyber-crime concerns? Please cite examples of corporations that have taken additional steps and describe such steps.

(Please include peer reviewed references under each answer)

Discussion Four

The purpose of this section is to develop a proactive approach to protecting a global corporation from instances of fraud by creating a process to limit opportunities for fraudulent acts.

As you develop your discussion board post for this week, please consider the following:

  1. What key elements would you include as part of a fraud risk assessment?
  2. Why are these elements critical to success?
  3. Which members of the organization should be involved in the development of the assessment?
  4. How would you handle ownership of the assessment?
  5. How would your approach vary according to country, culture, or region?

(Please include peer reviewed references under each answer)

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