Question

You are the CFO of a soon-to-be Multi-National Corporation (MNC). Your company is new to “going international”.

Please list and describe everything of importance about taking your company international, how it affects the financial statements, its link to accounting, and strategies to consider, etc.

Answer 1

THE MAJOR ROLE OF CFO IS THAT TO COMPLY WITH EACH AND EVERY RESPONSIBILITY OF THE COMPANY .THEY PLAY A MAJOR ROLE IN CORPORATE SOCIAL RESPONSIBILITY ,FINANCIAL REPORTING ,COMPLIANCE OF COMPANY , STRATEGIC DECISION MAKING, TAX COMPLIANCE .

IMPORTANCE OF TAKING COMPANY INTERNATIONAL

• INCREASED REVENUES THROUGH THE GLOBALIZATION LIKE NEW CUSTOMERS ATTRACT IF THE PRODUCT OF OUR COMPANY SATISFY THE CUSTOMER TASTES AND PREFERENCES
• HIRING THE SKILLED EMPLOYEES WHICH WE CANT FIND IN HOME COUNTRY .THEY HAVE THE EXPERTISE SKILLS .
• THROUGH GLOBALIZATION WE CAN EXPAND THE FORGIEN INVESTMENTS IN COMPANY.
• NEW PLANT AND MACHINERY THROUGH THE GLOBALIZATION.
• LEARNING THE NEW CULTURE OF DIFFERENT COUNTRIES AND DIVERSIFYING OUR COMPANY ACCORDING TO THEIR NEEDS SO THAT WE GET THE BRAND REPUTATION.

BY GOING GLOBALLY THE ACCOUNTING WILL CHANGE WE HAVE PREPARE ACCORDINGLY TO INTERNATIONAL FINANCIAL ACCOUNTING STANDARDS FOR EASY COMPARISON AND TRANSPARENCY AND EFFICIENCY OF FINANCIAL REPORTING.

IF WE ARE GOING GLOBALLY THEY HAVE PROPER STRATEGIC DECISION MAKING BECAUSE NEW ARRIVALS ARE HAVING THE POTENTIAL RESOURCES , ARE EXISTING BUSINESS ARE THERE OR ANY SUBSTITUTE PRODUCTS ARE THERE SO , IN WAY THEY HAVE THINK AND THEY HAVE SEPARATE TEAM FOR THIS .

THANKING YOU