Task 15 Prepare a presentation on one of the themes below.
· Accounting manipulation in revenues
· Accounting complexities
· Accounting doctoral shortage (education in accounting)
· Measuring non-financial performance
· Activity-based costing vs theory of constraints
· Lean accounting
· Creative accounting – cheating?
· Behavioral issues in accounting
UNIT 5
INTERNATIONAL ECONOMIC ACTIVITY 
LEAD-IN
Task 1 Read the information below. Do you think Islamic customs are fair? Do you think we should introduce such rules all around the world?
The Italian merchant Niccolodei Conti who converted to Islam and travelled in the East between 1415 and 1439 reported this extraordinary treatment of debtors in Java:
"Debtors unable to pay their debts become slaves to those whom they owe, but others avoid this service by choosing death voluntarily in this way: they take a sword, go out in to the streets, and kill everyone they meet until they encounter one who is better, who kills them; then the creditor of the dead man arrives and demands that the one who killed him must now pay his debts, and he is forced by the judges to comply."
Task 2 Read the joke below. What does the punchline imply?
Before going to Europe on business, a man drove his Rolls Royce to a downtown NY City bank and went in to ask for an immediate loan of $5,000.
The loan officer was quite taken a back, and requested collateral.
“Well, then, here are the keys to my Rolls-Royce”, the man said.
The loan officer promptly had the car driven into the bank’s underground parking for safekeeping, and gave him $5,000. Two weeks later, the man walked through the bank’s doors, and asked to settle up his loan and get his car back. The loan officer checked the records and told him, “That will be $5,000 in principal, and $15.40 in interest.” The man wrote out a check, thanked the loan officer, and started to walk away.
“Wait sir,” the loan officer said, “while you were gone, I found out you are a millionaire. Why in the world would you need to borrow?”
The man smiled. “Where else could I securely park my Rolls-Royce in Manhattan for two weeks and pay only $15.40?”
Task 3 Answer the questions:
1. What are the advantages and disadvantages of international trade?
2. How much of the food you’ve eaten in the last 24 hours comes from abroad?
3. Look around you. How many things can you see that were imported from another country?
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4. What are your country’s major trading partners?
5. What are your country’s most important exports?
6. Does your country try to restrict imports?
Task 4 Read the quotations and speculate on their meaning.
1. No nation was ever ruined by trade. (Benjamin Franklin)
2. Men cannot not live by exchanging articles, but producing them. They live by work not trade. (John Ruskin)
3. In the 21st century globalization is an irreversible trend that brings with it a level of economic expansion, growth, and accessibility that is unprecedented in the history of mankind. While the positive aspects of economic globalization might seem irrefutable, the debate between pro and anti-globalization experts is intense, and from that debate emerges inspiring quotable quotes that fuel further thought-provoking discussions about the risks and rewards of globalization. (Barbara Farfan)
READING I
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