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| Use the globalEDGE™ site to complete the following exercises: 1. The globalEDGE site offers a Country Comparison tool through its Country Insights section that allows for comparing countries based on statistical indicators. Utilize this tool to identify in which of the following countries the accounting historic cost principle cannot provide accurate results: Argentina, Bulgaria, Ecuador, Indonesia, Latvia, Malaysia, Mexico, Romania, Russia, and Senegal. Utilize the “rank countries” tool to identify other countries in which the historic cost principle would not provide valid results. 2. Deloitte Touche Tohmatsu hosts an International Accounting Standards (IAS) Web page that provides information and guidelines regarding accounting guidelines approved by IASC. Locate the Web site, go to the section on standards, and prepare a short description of the international accounting standards for recording inventory levels. |