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A V AT Revenue Simulation Model for Tax ReformIn Developing CountriesGlenn P .Jenkins[Abstract]: In this paper, we develop a model to simulate policies and revenues for a value added tax (V AT) system in countries that have an indirect tax system containing sales, excise taxes, and tariffs. An application of the model is carried out for Nepal, which has recently introduced the V AT to replace its sales tax system and rationalize its excise and tariff systems. The study shows that, in a developing country, tax policies that might seem very realistic and politically noncontroversial are likely to yield a very narrow tax base. If a government of a developing country wants to rely more on the V AT over time, it must move aggressively to broaden the base and enhance compliance.[Key words]: V AT revenue, Tax reform, model, NepalⅠ. INTRODUCTIONImport tariffs and excise taxes often constitute the most important revenue sources in developing countries. Because of growing concerns in recent years about economic efficiency and tax simplicity in a competitive and integrated world economy, many countries are lowering trade taxes and replacing distorted excise taxes with consumption-type V AT. With respect to the latter, one of the most important questions is the revenue potential of alternative designs of this new tax as governments attempt to replace or enhance the level of revenues generated by their current tax system.The potential revenue which can be raised from the V AT depends on a number of factors, such as how broad the tax base will be and the extent to which businesses will comply with the tax. This issue has not been widely discussed in the public finance literature. The main purpose of this paper is to provide an analytical framework which can be used to estimate the potential tax base and associated revenues for a V AT in a typical developing country. The model developed for this purpose should be detailed enough to facilitate the estimation of the potentialrevenues for alternative tax options. Such a model can then be used to assist decision makers in setting their tax policies. To illustrate, the model is applied to the economy of Nepal. We chose Nepal because it is typical of many developing countries, having very limited statistical data and moving from a highly distorted indirect tax system to a V AT.Ⅱ. ALTERNATIVE APPROACHES TO THE ESTIMATION OF A V AT BASEThe potential tax revenue of a V AT is greatly dependent on the number and level of tax rates, the scope of the tax base, and the degree of tax compliance. The proposed V AT is assumed to be a multistage consumption tax based on the destination principle, similar to a European-style V AT. The tax is applied to the sales of goods and services at all stages of the production and distribution chain. At each stage, vendors are able to claim tax credits to recover the tax they paid on their business inputs. As a result, the tax system is in effect applying the tax only to the value added by each vendor. Since the only tax that does not get refunded is the tax imposed on final consumption, the tax is equivalent to the retail sales tax on final consumption. While imposing a tax at a destination principle, imports are taxed in the same way as domestically produced goods, and exports are not subject to tax. Therefore, the tax essentially applies to goods and services consumed domestically.A common feature of the tax base in most V AT countries is to not tax a number of important goods or services because of political and socioeconomic considerations, technical difficulties, or administrative complexity. These goods and services generally fall into two major categories, zero-rated and tax exempt. For zero-rated commodities, the V AT is not levied on the selling price of these items. The vendor, however, receives full credit for the V AT paid on inputs used in production. If zero-rated sales occur at an intermediate stage, purchasers would not have a credit to deduct against any subsequent tax due. This would, in fact, provide a cash flow cost and benefit to the vendor and purchaser, respectively. The net revenue implications for the government would nevertheless be nil. By comparison, if zero-rated sales occur at the retail stage, it would effectively remove all the tax burden from consumers and the government would lose all the tax revenue from the sales of these goods and services.For conceptual and technical difficulties, countries employing a V AT generally exempt the domestic sales of financial intermediation and insurance services. For administrative and compliance simplicity, most V AT countries also exempt small businesses from the tax. When these goods and services are exempted, the V AT is not applied to these sales. Unlike zero-rated goods and services, vendors of exempt products are not eligible to receive any credit for the taxes paid on the inputs used to produce that good or service. The denial of input tax credits increases the production cost for the vendor, although the value added of the vendor escapes tax.Like zero-rated sales, tax exemption can occur at either an intermediate or the retail stage. Consider the tax exemption at the retail stage where goods are sold directly to consumers. Only the value added at the retail stage will not be subject to tax. In contrast, if tax exempt sales operate at the intermediate stages of the production-distribution chain, sales by the subsequent businesses acquiring the goods are effectively overtaxed to the extent that the inputs prior the exempt stage are not creditable. As a result, the tax base is not reduced, but is augmented by the cascading effect.The government could ultimately collect a greater amount of tax revenue than it would otherwise.Multiple tax rates are a common feature of some V AT systems in the developing countries. It is not uncommon to observe that a lower rate is applied to goods or services which are regarded as the necessities of life. At the same time, there are luxury goods which may be subjected to a higher rate of V AT or alternatively, a non-increditable excise tax.Three alternative approaches can be used to estimate the tax base and associated revenues, for which input-output tables, national accounts and family expenditure survey data are often required. The first approach is simply to construct an aggregate tax base. It begins with the Gross Domestic Product (GDP) of the economy, which is the sum of the value added in the domestic production of all goods and services. Because we are considering a destination principle V AT, we need to subtract exports and add imports to the GDP. For a consumption type V AT, the base is also reduced by the gross capital formation of the private sector. The base is further reduced by zero-rated or exempted consumption expenditures. Since vendors of exempted goods and services are unable to claim any credits for taxes paid on the inputs acquired to produce that good or service, the tax base will have to be upward adjusted. The second approach computes the base by summing the value added of each industrial sector in the economy. The base has to beadjusted for the fact that the V AT is a destination type tax and, as such, would tax imports on entry into the country and zero-rate exports. Further adjustments would have to be made for changes in inventories and for commodities which are either zero-rated or exempted. Making these adjustments by sector is usually difficult since the values of exports and imports are not readily available on an industry basis. Although an aggregate adjustment for the whole economy may be possible, detailed information by sector would be lost. The third approach is to estimate the value of goods and services purchased by consumers which would automatically capture the destination principle of the V AT since it excludes exports while imports are included. The V AT base by commodity can then be calculated using the commodity sales values at the final consumer level. The approach would also facilitate an analysis of incidence or price impact of the V AT on consumers, issues which are usually important in the political debate over sales tax reform.Ⅲ. GENERAL METHODOLOGY FOR ESTIMATING THE V AT BASEThis section explores the detailed methodology of the third approach described above. This approach depends heavily upon input-output tables. Input-output models are static in nature and, as such, do not allow for behavioral responses to policy changes. Thus, the V AT base estimation discussed in this paper does not take into account behavioral responses due to the replacement of the current sales tax system with the V AT.As was mentioned earlier, the V AT base can be estimated using the final expenditures made by various economic entities. Construction of the base can, therefore, begin with the data for domestic expenditures contained in the final demand matrix of the I-O tables. The final demand matrix generally contains a transaction matrix of a number of commodities by a number of final demand categories. The final demand categories may include many categories under each of the headings such as personal consumption, government expenditures, investment, imports, and exports. Personal consumption refers to those individuals/households or entities who acquire goods and services for their own consumption and who do not produce supplies of a commercial nature. Government expenditures include the current and capital spending by all levels ofgovernment. This would be treated in a fashion similar to personal consumption under a V AT system except that the V AT paid by the same level of government sector will not necessarily increase net government collections. Investment, however, is excluded from the base calculation since the V AT allows for an input tax credit for any business purchases including capital investment. Exports are also excluded because of the destination type V AT. Imports are ignored because purchases made by other final demand categories are inclusive of imports.The starting point in calculating the V AT base is with the amount of personal and government expenditures. This amount is equivalent to the total expenditures shown in the I-O tables. Adjustments must however, be made for several factors in order to arrive at the V AT base. What follows is a description of the relevant deductions and adjustments.Calculation of the current sales taxesSuppose that a country has a manufacturer sales tax system and the government proposes to replace it with a V AT. The gross expenditures contained in the I-O tables, expressed at purchasers' price, include the current sales taxes to be replaced. These taxes are imposed on the manufacturer's sale price of goods produced in the country and on the duty paid value of imported goods. Wholesale and retail trade margins are excluded from the tax base. Usually, these sales taxes apply also to a range of intermediate inputs and capital goods used in the production and distribution of goods and services.In order to remove the current sales taxes paid directly by personal and government sectors from each category of expenditures, one has to first construct the current sales tax base. This is accomplished by removing the retail and wholesale trade margins from purchasers' expenditures on each good or service, inclusive of sales tax.The expected current sales tax revenue from each commodity, say, the ith commodity( Ri), can be calculated by multiplying the derived tax base by the applicable tax rate and by the taxable proportion:where is the sales tax-inclusive base of the ith commodity, is the taxable proportion of theith commodity, and is the sales tax rate of the ith commodity. The magnitude of the taxableproportions depends upon the proportion of the legally taxable sales to the total sales of the items contained in each commodity category.A further calculation must be made for the hidden (or indirect) sales taxes embedded in personal and government expenditures. This represents the sales taxes which are levied on business inputs. These inputs are used in turn to produce goods and services which are ultimately sold to final consumers and governments. If sales taxes are assumed to be fully shifted forward, the taxes will be transformed into a higher price of the final goods and services. The I-O tables can be used to measure the indirect sales tax content in the goods and services purchased by final consumers and governments.The total of the above expected direct and indirect sales tax revenues over all commodities and all entities usually is not the same as the actual tax collections. This is a result of a number of factors, such as bad debt allowances, tax free allowances for small importation, tax evasion, small suppliers exemption. After adjusting for the factors which are known, the expected tax revenues are made equal to the actual tax collections by applying a calculated compliance rate. This rate is simply the ratio of the actual revenue to the expected revenue. Of course, the compliance rate may vary by commodity, depending upon market conditions and other factors.Introduction of the value-added taxThe potential revenue of the V AT extended to the retail level can be calculated by summing domestic personal and government expenditures at retail prices. This does not include expenditures made by businesses since the taxes paid on business purchases are creditable. Thus, the starting point for calculating the V AT base is with the value of all goods and services (shown in the I-O tables) purchased by personal and government sectors, net of all current sales taxes.This is the total potential tax base, which is then multiplied by the taxable proportions for each corresponding commodity in order to arrive at the V AT base. At this point, the taxable proportions are determined by the tax policies and laws under consideration. For example, the proposed V AT may zero-rate or exempt certain goods or services. In such cases, the full value of zero-rated or exempted goods and services purchased by individuals or governments has to be removed from the potential base. For exempt items, however, taxes paid on business inputs used to produce the exempt goods or services are not creditable. Therefore, an additional adjustment to the tax base is needed to account for the extent to which the vendors cannot claim input tax credit for taxes paid on business expenditures. In summary, the total potential V AT base can beexpressed as follows:Where is the percentage wholesale margin for the ith commodity, is the percentage retail margin for the ith commodity, is the total business inputs used in the production of the jthexempt sector under the proposed V AT, is the ratio of taxable inputs to the total inputs usedin the production of the jth exempt sector under the proposed V AT, and Bi ,ai and pi are defined as eqn..Special attention should be paid to long-term residential rent paid by tenants to landlords and imputed rent arising from the consumption flow by owner-occupied housing, which is normally presented as part of personal expenditures in the I-O tables or national accounts. This rent is often tax exempt and should be excluded from the tax base in order to avoid double taxation, since as an alternative, the V AT is sometimes levied on the purchase price of newly constructed dwellings. A portion of gross cash rent and imputed rent, however, would still be subject to V AT as a result of taxable expenditures made for repairs, property insurance, and certain utilities. It should be noted that the value of land is excluded in both the I-O tables and national accounts because it does not represent value added. For our purpose, the value of land is usually included as part of the purchase price of a new home. Thus, when new houses are taxable under the V AT, the personal expenditures must be adjusted upward to account for the full price of new homes. Some adjustments must be also made to gross expenditures in the government sector. For the most part, the production from this sector is usually exempt under a V AT and the associated value added would not attract the tax. On the other hand, the intermediate inputs used to produce government goods and services are usually taxable and, as a consequence, remain in the tax base of the government sector.Finally, to arrive at a benchmark estimate of revenue yield, the tax base for each commodity item is then multiplied by the compliance ratio under the current sales tax system. This adjustment implies that the compliance rate for each commodity under the proposed V AT would not be different from that being subject to the current system. The compliance rate may be adjusted upward however if one believes that the V AT system would enhance taxpayercompliance, or if the government can increase the level of administrative enforcement. On the contrary, the compliance rate may be adjusted downward if tax evasion is expected to spread with the introduction of a V AT. The total expected V AT revenues for the economy will then be equal to the summation of all adjusted tax bases across goods and services purchased by both the personal and government sectors, times the proposed V AT rates.Accrual versus actual revenue collectionsThe model developed so far provides an annual estimate of the V AT paid by final consumers and governments. These estimates are presented on an accrual basis rather than the actual revenues received by the government due to the payment lags built into the V AT system. For example, the V AT may be designed to provide a great deal of flexibility in filing requirements, depending on the size of the business. For large firms, filing may be required on a monthly basis. For smaller firms, filing may be allowed on a quarterly or annual return. Certain types of businesses such as exporters are likely to choose to file their returns on a monthly basis in order to claim input tax credits earlier. Furthermore, all taxpayers are likely to have until the end of the month following the reporting period to file their returns.From a government’s perspective, it is necessary to transform the V AT estimates from an accrual to a collection basis. One can first segregate the above annual estimate of the V AT base into the individual ``value-added'' components for primary producers, manufacturers, wholesalers, retailers, and other service sectors. Each of these components is then converted to a monthly basis using sales and other relevant data. For example, the retail component is distributed to each month based on monthly retail sales data. This should reflect the seasonal patterns in production and distribution channels. The appropriate collection lags should also be incorporated for each type of tax filer. The resulting revenues can then be transformed to a collection basis. This consideration will be particularly important when the V AT is first introduced into a country.Ⅳ. AN APPLICATION TO A CASE FOR NEPALThe current sales tax collected in Nepal in fiscal year 1994-95 was about 6,032 million rupees which accounts for approximately one-third of the total tax revenues. It is the single mostimportant revenue source. Like many other countries, the sales tax is imposed on the manufacturer's sale price of goods produced for domestic consumption, and on the duty paid value of imported goods. As a result, the tax applies to a range of inter-mediate inputs and capital goods used in the production and distribution channels. This tax has become not only administratively complex, but also economically inefficient. The Minister of State for Finance in Nepal announced in the July 1993 budget that the government would focus on gradually transforming the sales tax into a value-added tax. Since then, subsequent governments have had to make a series of tax policies and set tax rates in order to ensure the new sales tax system is fair, simple, efficient and produces revenue in a stable fashion.In the July 1993 budget, it was announced that the number of sales tax rates would be reduced from five to two rates, 10% and 20%. The same tax rates are applied equally to domestically produced goods and to imports in order to streamline the sales tax operation. In addition, there has been a substantial amount of government revenues collected from a number of selective excises on cigarettes, liquor, beer, soft drinks, edible oils, cement and so on. The main objective of this section is to apply the above model to the estimation of potential revenues for a V AT to be implemented in Nepal.Preparation of the basic dataThe data are quite limited in Nepal. In order to present the most up-to-date economic structure for the country, we developed a complete set of data for the FY 1994-95 since this is the latest year that data are available on the expenditure side from national accounts in Nepal.The data are arranged into three major categories-personal, business, and government. First, the detailed personal expenditure data are only available from a Household Budget Survey for 1985. These data also are separated into urban and rural for each class of commodity expenditure. Due to their different expenditure patterns and the recent massive migration from rural to urban areas, the current detailed household expenditures by commodities for the country as a whole are constructed by increasing the proportion of the total national household expenditures made in urban areas from 7% in 1985 to 12% in 1994. Using the FY 1994-95 aggregate private consumption shown in national accounts as a control total, the detailed personal expenditures by commodities are estimated.Second, the information concerning business expenditures on capital investment and intermediate inputs is very limited. The national accounts only provide an aggregate figure on private capital formation which can be further separated into machinery and equipment and construction. Using import information, the totals for machinery and equipment are further allocated among tractors, motor vehicles and parts, aircraft, telecommunications, medical equipment, and other machinery equipment. This is done in anticipation that certain goods or sectors are likely to be either zero-rated or exempted under the proposed V AT. The split between residential and nonresidential construction is also important because of their differences in the composition of mixed construction materials. For nonresidential construction, about one-third is sponsored by international organizations and is classified as expenditures of the government sector. For each construction category, detailed requirements of construction materials, labor cost, as well as profits and contract tax are provided by the Nepal Engineers' Association. In addition, the detailed intermediate inputs demanded by each of the industrial sectors are developed using the 1987 I-O tables.Third, government expenditures are separated into Regular and Development Expenditures. The latter are mostly funded by international organizations such as the World Bank, the Asian Development Bank, and bilateral donors which do not pay tariffs or other commodity taxes on their purchases. Each of the Regular and Development Expenditures can be further broken down into current and capital expenditures by commodity items or economic functions.After the basic detailed expenditures data for FY 1994-95 are constructed, the wholesale and retail margins for each commodity are removed from purchasers' expenditures on each good or service derived above .This would form the manufacturers' or importers' sales totals, inclusive of taxes, by commodity and by entity. The expected sales tax revenue for each commodity can then be calculated based on eqn (1).Simulation of the V AT revenuesThe proposed V AT will be imposed on goods and services consumed in the Kingdom of Nepal except for those specified in Schedules 1 and 2 of the V AT Act. The V AT Act will replace the Sales Tax Act, Hotel Act, Contract Tax Act, and Entertainment Act. This implies that, for revenue-neutral, at least a total of 6,857 million rupees should have been generated in FY 1994-95 if the proposed V AT was implemented.The following basic tax policies are incorporated in the model simulations for illustrative purposes:(ⅰ) impose a single rate of V AT which is extended to the retail level under the destination principle. Most personal and government expenditures are taxed, including government expenditures financed through international organizations.(ⅱ) zero-rate exported goods and services.(ⅲ)exempt unprocessed food, drug and medical services, books and newspapers, water and transportation services.(ⅳ) exempt newly constructed dwellings, residential rents, and financial services.(ⅴ) adjust the excise levies on alcoholic beverages and tobacco products to maintain their current consumer prices.Before turning to the empirical results, it is useful to recall the equivalency of the V AT to that of retail sales tax levied on the final selling price of all goods and services.The data on the latter were derived earlier in the form of gross expenditures by commodities under the personal, business, and government category. These gross expenditures represent the sum of all the expenditures on the various commodities and primary inputs contained in each category. Adjustments must be made for factors such as removal of the current sales taxes, zero-rated and exempt goods and services, and realistic tax compliance by taxpayers in order to arrive at the V AT base and the associated revenues.First, the above gross expenditures by commodities and by entities contain the amounts of the current sales taxes, directly paid by individuals and by governments, which must be deducted in calculating the V AT base. Since sales taxes are assumed to be fully shifted forward to final consumers, a further deduction must be made for the indirect sales taxes embedded in the price of personal and government expenditures. One can observe from Columns (2) and (3) of Table 1 that more than half of the current sales taxes are imposed on intermediate inputs and capital goods in Nepal. These input taxes are now embodied in the form of higher prices of goods and services sold to final consumers and governments.Second, the excise tax on alcoholic beverages and tobacco products are adjusted upward in order to maintain the same level of retail prices for consumers. The excise adjustment (DE) must equal the diff erence between the manufacturers’ sales prices of the excisable good under the newversus the current sales tax systems. That is:where is the single V AT rate, is the V AT compliance rate, is the current sales tax rateof the ith excisable good, and is the compliance rate of the current sales tax systems. is defined as eqn. (1), namely, the current sales tax-inclusive base of the ith excisable good. Hence, the adjustments shown in Column (5) of Table 1 refer to the case if the V AT rate is set at 12% and the tax compliance remains the same as the current tax system.Third, the full value of zero-rated goods or services purchased by final consumers and governments must be removed from gross expenditures. The simulation will only apply to exports, not to the goods and services paid for with foreign exchange but consumeddomestically.Fourth, for exempt goods and services that operate at the retail stage, the V AT is not levied on their selling prices nor are vendors entitled to the input tax credit. As a result, the associated input taxes that are not creditable form part of the V AT base. It should be noted that while not only unprocessed basic groceries but also basic agricultural inputs such as fertilizer seeds and pesticides are exempt. Another interesting case in Nepal is the practical difficulty of imposing a V AT on newly constructed houses because no such market prevails. New houses are normally self-constructed with assistance from relatives or friends. Therefore, new houses are treated as tax exempt and the purchases of construction materials are made subject to tax the business inputs associated with the denied input tax credits are all shown by sector in the second panel of Table 1 to form part of the V AT in Nepal.Fifth, the government is treated in the same fashion as final consumers. In other words, expenditures incurred by the government are taxed.Each of these tax policy measures presented in the V AT Act might appear reasonable and politically prudent, in the context of the economy of Nepal. But the results in Column (7) of Table 1 show that the V AT base, with the current tax compliance, has been reduced to approximately 20% gross domestic expenditure. It is also unrealistic to expect a substantial increase in compliance of the tax in a near term. If significant additional revenues are to be collected, tougher tax policies to broaden the tax base will have to be implemented. Because the share of the formal economy is relatively small in such a developing country, the potential tax base for a V AT is rather narrow. Hence, substantial political will is needed in developing countries to impose taxes on goods and services that might be exempted due to political or social considerations in developed countries.A V AT generally requires a higher level of administrative expenditures than a single stage sales tax system because of the greater number of taxpayers and the initial start up costs. This will reduce the net collection of tax revenues. There is a question of whether the V AT would lead to either greater tax enforcement or greater revenue leakage. One can argue that invoices issued by vendor registrants are proof of tax paid and, thus, constitute the basis for input tax credit claims by purchaser registrants. The invoice system may be considered by some economists or tax practitioners as a mechanism that provides an audit trail and an incentive to record。

IMPLEMENTING ENVIRONMENTAL COSTACCOUNTING IN SMALL AND MEDIUM-SIZEDCOMPANIES1．ENVIRONMENTAL COST ACCOUNTING IN SMESSince its inception some 30 years ago, Environmental Cost Accounting (ECA) has reached a stage of development where individual ECA systems are separated from the core accounting system based an assessment of environmental costs with (see Fichter et al., 1997, Letmathe and Wagner , 2002).As environmental costs are commonly assessed as overhead costs, neither the older concepts of full costs accounting nor the relatively recent one of direct costing appear to represent an appropriate basis for the implementation of ECA. Similar to developments in conventional accounting, the theoretical and conceptual sphere of ECA has focused on process-based accounting since the 1990s (see Hallay and Pfriem, 1992, Fischer and Blasius, 1995, BMU/UBA, 1996, Heller et al., 1995, Letmathe, 1998, Spengler and H.hre, 1998).Taking available concepts of ECA into consideration, process-based concepts seem the best option regarding the establishment of ECA (see Heupel and Wendisch , 2002). These concepts, however, have to be continuously revised to ensure that they work well when applied in small and medium-sized companies.Based on the framework for Environmental Management Accounting presented in Burritt et al. (2002), our concept of ECA focuses on two main groups of environmentally related impacts. These are environmentally induced financial effects and company-related effects on environmental systems (see Burritt and Schaltegger, 2000, p.58). Each of these impacts relate to specific categories of financial and environmental information. The environmentally induced financial effects are represented by monetary environmental information and the effects on environmental systems are represented by physical environmental information. Conventional accounting deals with both – monetary as well as physical units – but does not focus on environmental impact as such. To arrive at a practical solution to the implementation of E CA in a company’s existing accounting system, and to comply with the problem of distinguishing between monetary and physical aspects, an integrated concept is required. As physical information is often the basis for the monetary information (e.g. kilograms of a raw material are the basis for the monetary valuation of raw material consumption), the integration of this information into the accounting system database is essential. From there, the generation of physical environmental and monetary (environmental) information would in many cases be feasible. For many companies, the priority would be monetary (environmental) information for use in for instance decisions regarding resource consumptions and investments. The use of ECA in small andmedium-sized enterprises (SME) is still relatively rare, so practical examples available in the literature are few and far between. One problem is that the definitions of SMEs vary between countries (see Kosmider, 1993 and Reinemann, 1999). In our work the criteria shown in Table 1 are used to describe small and medium-sized enterprises.Table 1. Criteria of small and medium-sized enterprisesNumber of employees TurnoverUp to 500employees Turnover up to EUR 50mManagement Organization- Owner-cum-entrepreneur -Divisional organization is rare- Varies from a patriarchal management -Short flow of information style in traditional companies and teamwork -Strong personal commitmentin start-up companies -Instruction and controlling with- Top-down planning in old companies direct personal contact- Delegation is rare- Low level of formality- High flexibilityFinance Personnel- family company -easy to survey number of employees- limited possibilities of financing -wide expertise-high satisfaction of employeesSupply chain Innovation-closely involved in local -high potential of innovationeconomic cycles in special fields- intense relationship with customersand suppliersKeeping these characteristics in mind, the chosen ECA approach should be easy to apply, should facilitate the handling of complex structures and at the same time be suited to the special needs of SMEs.Despite their size SMEs are increasingly implementing Enterprise Resource Planning (ERP) systems like SAP R/3, Oracle and Peoplesoft. ERP systems support business processes across organizational, temporal and geographical boundaries using one integrated database. The primary use of ERP systems is for planning and controlling production and administration processes of an enterprise. In SMEs however, they are often individually designed and thus not standardized making the integration of for instance software that supports ECA implementation problematic. Examples could be tools like the “eco-efficiency” approach of IMU (2003) or Umberto (2003) because these solutions work with the database of more comprehensive software solutions like SAP, Oracle, Navision or others. Umberto software for example (see Umberto, 2003) would require large investments and great background knowledge of ECA – which is not available in most SMEs.The ECA approach suggested in this chapter is based on an integrative solution –meaning that an individually developed database is used, and the ECA solution adopted draws on the existing cost accounting procedures in the company. In contrast to other ECA approaches, the aim was to create an accounting system that enables the companies to individually obtain the relevant cost information. The aim of the research was thus to find out what cost information is relevant for the company’s decision on environmental issues and how to obtain it.2．METHOD FOR IMPLEMENTING ECASetting up an ECA system requires a systematic procedure. The project thus developed a method for implementing ECA in the companies that participated in the project; this is shown in Figure 1. During the implementation of the project it proved convenient to form a core team assigned with corresponding tasks drawing on employees in various departments. Such a team should consist of one or two persons from the production department as well as two from accounting and corporate environmental issues, if available. Depending on the stage of the project and kind of inquiry being considered, additional corporate members may be added to the project team to respond to issues such as IT, logistics, warehousing etc.Phase 1: Production Process VisualizationAt the beginning, the project team must be briefed thoroughly on the current corporate situation and on the accounting situation. To this end, the existing corporate accounting structure and the related corporate information transfer should be analyzed thoroughly. Following the concept of an input/output analysis, how materials find their ways into and out of the company is assessed. The next step is to present the flow of material and goods discovered and assessed in a flow model. To ensure the completeness and integrity of such a systematic analysis, any input and output is to be taken into consideration. Only a detailed analysis of material and energy flows from the point they enter the company until they leave it as products, waste, waste water or emissions enables the company to detect cost-saving potentials that at later stages of the project may involve more efficient material use, advanced process reliability and overview, improved capacity loads, reduced waste disposal costs, better transparency of costs and more reliable assessment of legal issues. As a first approach, simplified corporate flow models, standardizedstand-alone models for supplier(s), warehouse and isolated production segments were established and only combined after completion. With such standard elements and prototypes defined, a company can readily develop an integrated flow model with production process(es), production lines or a production process as a whole. From the view of later adoption of the existing corporate accounting to ECA, such visualization helps detect, determine, assess and then separate primary from secondary processes. Phase 2: Modification of AccountingIn addition to the visualization of material and energy flows, modeling principal and peripheral corporate processes helps prevent problems involving too high shares of overhead costs on the net product result. The flow model allows processes to be determined directly or at least partially identified as cost drivers. This allows identifying and separating repetitive processing activity with comparably few options from those with more likely ones for potential improvement.By focusing on principal issues of corporate cost priorities and on those costs that have been assessed and assigned to their causes least appropriately so far, corporate procedures such as preparing bids, setting up production machinery, ordering (raw) material and related process parameters such as order positions, setting up cycles of machinery, and order items can be defined accurately. Putting several partial processes with their isolated costs into context allows principal processes to emerge; these form the basis of process-oriented accounting. Ultimately, the cost drivers of the processes assessed are the actual reference points for assigning and accounting overhead costs. The percentage surcharges on costs such as labor costs are replaced by process parameters measuring efficiency (see Foster and Gupta, 1990).Some corporate processes such as management, controlling and personnel remain inadequately assessed with cost drivers assigned to product-related cost accounting. Therefore, costs of the processes mentioned, irrelevant to the measure of production activity, have to be assessed and surcharged with a conventional percentage.At manufacturing companies participating in the project,computer-integrated manufacturing systems allow a more flexible and scope-oriented production (eco-monies of scope), whereas before only homogenous quantities (of products) could be produced under reasonable economic conditions (economies of scale). ECA inevitably prevents effects of allocation, complexity and digression and becomes a valuable controlling instrument where classical/conventional accounting arrangements systematically fail to facilitate proper decisions. Thus, individually adopted process-based accounting produces potentially valuable information for any kind of decision about internal processing or external sourcing (e.g. make-or-buy decisions).Phase 3: Harmonization of Corporate Data – Compiling and Acquisition On the way to a transparent and systematic information system, it is convenient to check core corporate information systems of procurement and logistics, production planning, and waste disposal with reference to their capability to provide the necessary precise figures for the determined material/energy flow model and for previously identified principal and peripheral processes. During the course of the project, a few modifications within existing information systems were, in most cases, sufficient to comply with these requirements; otherwise, a completely new softwaremodule would have had to be installed without prior analysis to satisfy the data requirements.Phase 4: Database conceptsWithin the concept of a transparent accounting system, process-based accounting can provide comprehensive and systematic information both on corporate material/ energy flows and so-called overhead costs. To deliver reliable figures over time, it is essential to integrate a permanent integration of the algorithms discussed above into the corporate information system(s). Such permanent integration and its practical use may be achieved by applying one of three software solutions (see Figure 2).For small companies with specific production processes, an integrated concept is best suited, i.e. conventional andenvironmental/process-oriented accounting merge together in one common system solution.For medium-sized companies, with already existing integrated production/ accounting platforms, an interface solution to such a system might be suitable. ECA, then, is set up as an independent software module outside the existing corporate ERP system and needs to be fed data continuously. By using identical conventions for inventory-data definitions within the ECA software, misinterpretation of data can be avoided.Phase 5: Training and CoachingFor the permanent use of ECA, continuous training of employees on all matters discussed remains essential. To achieve a long-term potential of improved efficiency, the users of ECA applications and systems must be able to continuously detect and integrate corporate process modifications and changes in order to integrate them into ECA and, later, to process them properly.。

外文资料翻译FOREIGN LITERATURE TRANSLATION专业：财务管理姓名：指导教师姓名：财务报表欺诈的原因，后果和防治方法作者：扎比霍拉哈瑞扎伊本文摘自2005年第16 期的会计观察杂志第277页到第282页摘要: 在过去几年中，财务报表欺诈已经造成包括投资者，债权人，领年金者和员工等市场参与者，超过5000 亿美元的损失。

资本市场参与者期望警惕的和积极的企业治理能够确保信息的完整性、透明度和财务信息质量。

财务报表欺诈将会严重威胁市场参与者对公布的经审核的财务报表的信心。

最近，财务报表欺诈受到来自商界，会计界，学术界和监管机构相当高的重视。

本文将陈述（1）财务报表欺诈的定义；（2）通过对涉嫌财务报表诈骗案件的选择性样本进行评论，来呈现财务报表欺诈的轮廓；（3）论证篡改账目最终将导致财务报表欺诈和犯罪；（4）介绍预防和检测财务报表欺诈的策略来减少财务报表舞弊事件的发生。

财务报表欺诈仍然是一个受到商业组织和会计界人士的关注的重点问题，并且出现在最近的证券及交易委员会（SEC的执法行动与企业诈骗责任小组的报告中。

本文将着重讨论可能会增加财务报表欺诈行为的可能性的因素。

本文应该增加企业治理参与者（董事会董事，审计委员会，高层管理团队，内部审计人员，外部审计师，和理事机构）对财务报表欺诈和预防与检测财务报表欺诈的战略的关注程度。

2002年萨班斯法案颁布实施，其目的在于改善公司治理，财务报告质量，以及审计职能的可信性。

该法为审计上市公司的公共会计人员确立了一个新的架构，赋予上市公司及上市公司管理人员更多的责任，并增加了刑事违法行为和其他违规行为的处罚。

鉴于预防财务报表欺诈的困难程度和相关费用，应当理解在这篇文章中所描述的可以影响欺诈的发生、检测与预防财务报表欺诈的互动因素（篡改账目者，舞弊方法，激励，监督和最终结果）是与会计和审计研究相关的。

关键词：财务报表欺诈；公司治理，2002 年萨班斯法案；篡改账目；预防和检测欺诈的策略1. 简介由于大型公司（如朗讯Lucent 、施乐Xerox 、来爱德Rite Aid 、山登Cendant、上巨电子Sunbeam美国废弃物管理公司Waste Management美国安然公司Enron Corporation、环球电讯Global Crossing、世通WorldCom阿德菲亚传播公司Adelphia 和美国泰科公司Tyco）的财务报表欺诈行为被高调报道，使得财务报表欺诈引起了公众，投资者，金融界，新闻界以及监管机构的极大关注。

毕业设计(论文）外文文献翻译院系：财务与会计学院年级专业：201＊级财务管理姓名:学号：132148*＊*附件: 财务风险管理【Abstract】Although financial risk has increased significantly in recent years risk and risk management are not contemporary issues。

The result of increasingly global markets is that risk may originate with events thousands of miles away that have nothing to do with the domestic market。

Information is available instantaneously which means that change and subsequent market reactions occur very quickly。

The economic climate and markets can be affected very quickly by changes in exchange rates interest rates and commodity prices。

Counterparties can rapidly become problematic。

As a result it is important to ensure financial risks are identified and managed appropriately. Preparation is a key component of risk management。

【Key Words】Financial risk，Risk management，YieldsI. Financial risks arising1.1What Is Risk1.1.1The concept of riskRisk provides the basis for opportunity. The terms risk and exposure have subtle differences in their meaning. Risk refers to the probability of loss while exposure is the possibility of loss although they are often used interchangeably。

附录A财务管理和财务分析作为财务学科中应用工具。

本书的写作目的在于交流基本的财务管理和财务分析。

本书用于那些有能力的财务初学者了解财务决策和企业如何做出财务决策。

通过对本书的学习，你将了解我们是如何理解财务的。

我们所说的财务决策作为公司所做决策的一部分，不是一个被分离出来的功能。

财务决策的做出协调了企业会计部、市场部和生产部。

无论企业的形式和规模如何，财务原理和财务工具均适用。

就像对小规模的私营企业而言存在如何筹资的问题，大企业面临所有权和经营权分离时出现的代理问题。

不管公司的规模和形式是如何的，公司财务管理的基本原理是一样的。

例如，无论是独资企业做出的决策还是大企业做出的决策，今天一美元的价值都高于未来一美元的价值。

我们所说的财务原理和财务工具适用于全球的企业，不仅限于美国的企业。

虽然国家习惯和法律可能与国家的原则理论存在着不同，但财务管理用到的工具是一样的。

例如，在评估是否要买一个特殊设备的价值时，你需要评估企业未来现金流的发生（设备成本和支出的时间和设备的不确定性），这个企业位于美国、英国还是在其他的地方?此外，我们相信拥有强大的财务原理和数学相关工具的依据对于你了解如何做出投资和财务决策十分必要。

但是建立这种依据比不费力。

我们试图帮你建立这种依据的途径是通过直觉提出财务原理和财务理论。

而不是原理和证据。

例如，我们引导你通过数字和真实例子对资本结构原理产生直觉，而不是利用公式和证据。

再者我们试图帮助你通过仔细的逐步的例子和大量数据处理财务工具。

财务管理和财务分析分为7个部分。

前两个部分（第一部分和第二部分）涉及到基础部分，它包括财务管理、估价原则的目标以及风险和回报之间的关系。

财务决策涉及到第三、四、五部分的内容，我们提出了长期投资管理（通常被称为资本预算）的长期来源、管理和资金管理工作。

第六部分涉及到财务报表分析，它包括财务比率的分析，盈利分析和现金流量分析。

最后一个部分（第七部分）涉及到一些专业论题：国际财务管理，金融结构性金融交易（例如资产证券化），项目融资，设备租赁贷款和财务规划策略。

黑龙江东方学院本科生毕业论文附录作业成本法在哈尔滨顶益食品有限公司的应用学生姓名冯岩学号 054321207专业财务管理班级 2005级2班指导教师马慧颖学部管理学部答辩日期 2009年05月22日英文文献与译文由于物流既是一种古老的行业又是一种新兴的行业，因此，我们把寻求最佳运作模式的变革称为物流运作的复兴。

而精益物流成为人们选择的最佳模式，尽管这种物流运作涉及巨大的费用，但是精益物流模式最为引人注目的特点并不在于如何限制或降低成本上，而是在于企业如何把物流优势转化为竞争优势。

迄今为止人们已达成共识，即应以最低的总成本通过一体化的方式对物流运作进行管理，从而提高客户的满意程度。

同时，物流必须创造价值。

在所有的物流系统中都有两个普遍的特征；第一，这些物流运作系统被用来管理库存；第二，这些物流系统都是建立在现有技术的基础上的。

这两个特性就决定了物流运作系统在结构的设计上有规律而循。

最为广泛应用的三个物流系统结构分别是梯队式结构、直接型结构及混合型结构。

如果产品研制早期就引入物流设计的概念。

那么物流对于采购和生产以及工程和营销在运作能力上都可以得到极大的提高。

采购和生产所关注的主要问题是产品质量，这对于那些希望成为有全球竞争力的公司来说都是必要的先决条件。

公司的采购活动负责保障生产和运作所需的资源。

采购工作要关注许多方面，如保障持续供给、实现供应商供货——交货周期时间的最小化，实现原材料和部件库存时间的最小化、挑选有能力帮助公司实现预期目标的供应商并促进其发展等。

物流服务的终极目标就是在第一时间将事情做完做好。

以下这些做法都是不可取的；完全到货但延误；虽然做到了准时完全到货，但不是结算有误，就是在处理和运输环节中出现产品损坏的现象。

以前，绝大多数的物流经理们都用下列三个相对独立的指标来评估客户服务的绩效；用应满足的标准来衡量满足率；根据准时到货的标准测定准时交货的百分比，以此来衡量准时交货率；根据货损标准来衡量货物的损坏率。

LNTU---Acc附录A国际会计准则第 37 号或有负债和或有资产目的本准则的目的是确保将适当的确认标准和计量基础运用于准备、或有负债和或有资产，并确保在财务报表的附注中披露充分的信息，以使使用者能够理解它们的性质、时间和金额。

范围1．本准则适用于所有企业对以下各项之外的准备、或有负债和或有资产的会计核算：（1）以公允价值计量的金融工具形成的准备、或有负债和或有资产：（2）执行中的合同（除了亏损的执行中的合同）形成的准备、或有负债和或有资产；（3）保险公司与保单持有人之间签订的合同形成的准备、或有负债和或有资产；（4）由其他国际会计准则规范的准备、或有负债和或有资产。

2．本准则适用于不是以公允价值计量的金融工具（包括担保）。

3．执行中的合同是指双方均未履行任何义务或双方均同等程度地履行了部分义务的合同。

本准则不适用于执行中的合同，除非它是亏损的。

4．本准则适用于保险公司的准备、或有负债和或有资产，但不适用于其与保单持有人之间签订的合同形成的准备、或有负债和或有资产。

5．如果其他国际会计准则规范了特定的准备、或有负债和或有资产，企业应运用该准则而不是本准则，例如，关于以下项目的准则也规范了特定的准备：（1）建造合同（参见《国际会计准则第11号建造合同》）；（2）所得税（参见《国队会计准则第12号所得税》）；（3）租赁（参见《国际会计准则第17 号租赁》），但是，《国际会计准则第17 号》未对已变为亏损的经营租质的核算提出具体要求，因而本准则应适用于这些情况；（4）雇员福利（参见《国际会计准则第19号一雇员福利》）。

6．一些作为准备处理的金额可能与收入的确认有关，例如企业提供担保以收取费用，本准则不涉及收入确认，《国际会计准则第18 号收入》明确了收入确认标准，并就确认标准的应用提供了实务指南，本准则不改变《国际会计准则第18 号》的规定。

7．本准则将准备定义为时间或金额不确定的负债，在某些国家，“准备”也与一些项目相联系使用，例如折旧，资产减值和坏账：这些是对资产账面金额的调整，本准则不涉及。

会计学财务报表中英文对照外文翻译文献(文档含英文原文和中文翻译)译文：中美财务报表的区别(1)财务报告内容构成上的区别1)美国的财务报告包括三个基本的财务报表，除此之外，典型的美国大公司财务报告还包括以下成分：股东权益、收益与综合收益、管理报告、独立审计报告、选取的5-10年数据的管理讨论与分析以及选取的季度数据。

2)我国财务报告不注重其解释，而美国在财务报告的内容、方法、多样性上都比较充分。

中国的评价部分包括会计报表和财务报表，财务报表是最主要的报表，它包括前述各项与账面不符的描述、财会政策与变化、财会评估的变化、会计差错等问题，资产负债表日期，关联方关系和交易活动等等，揭示方法是注意底部和旁注。

美国的财务范围在内容上比财务报表更加丰富，包括会计政策、技巧、添加特定项目的报告, 报告格式很难反映内容和商业环境等等，对违反一致性、可比性原则问题，评论也需要披露的，但也揭示了许多方面，比如旁注、底注、括号内、补充声明、时间表和信息分析报告。

(2)财务报表格式上的比较1)从资产负债表的格式来看，美国的资产负债表有账户类型和报告样式两项描述，而我国是使用固定的账户类型。

另外，我们的资产负债表在项目的使用上过于标准化，不能够很好的反映出特殊的商业项目或者不适用于特殊类型的企业。

而美国的资产负债表项目是多样化的，除此之外，财务会计准则也是建立在资产负债表中资产所有者投资和支出两项要素基础上的，这一点也是中国的财会准则中没有的。

2)从损益表格式的角度来看，美国采用的是多步式，损益表项目分为两部分，营业利润和非营业利润，但是意义不同。

我国的营业利润在范围上比美国的小，例如投资收益在美国是归类为营业利润的而在我国则不属于营业利润。

另外，我国的损益表项目较美国的更加规范和严格，美国校准损益表仅仅依赖于类别和项目。

报告收可以与销售收入及其他收入相联系，也可以和利息收益、租赁收入和单项投资收益相联系；在成本方面，并不是严格的划分为管理成本、财务成本、和市场成本，并且经常性销售费用、综合管理费用以及利息费用、净利息收益都要分别折旧。

2016届本科毕业设计（论文）文献翻译题目宋体三号字，加粗学院宋体四号字专业宋体四号字班级宋体四号字学号宋体四号字姓名宋体四号字指导教师宋体四号字开题日期宋体四号字文献一：（宋体五号）英文题目(居中，Times New Roman字体，三号加粗)正文（英文不少于10000印刷符号，Times New Roman字体，五号，首行缩进2.5字符，单倍行距，两边对齐）翻译一：（宋体五号，另起一页）中文题目(居中，黑体，三号加粗)正文（中文不少于2000字，宋体，五号，单倍行距，首行缩进2字符）文献二：（宋体五号，另起一页）英文题目(居中，Times New Roman字体，三号加粗)正文（英文不少于10000印刷符号，Times New Roman字体，五号，首行缩进2.5字符，单倍行距，两边对齐）翻译二：（宋体五号，另起一页）中文题目(居中，黑体，三号加粗)正文（中文不少于2000字，宋体，五号，单倍行距，首行缩进2字符）（请参照下面模板）文献一：Research on Spillover Effect of Foreign Direct Investment1. IntroductionIn recent decades, economists have begun to identify technical progress, or more generally, knowledge creation, as the major determinant of economic growth. Until the 1970s, the analysis of economic growth was typically based on neoclassical models that explain growth with the accumulation of labor, capital, and other production factors with diminishing returns to scale. In these models, the economy converges to steady state equilibrium where the level of per capita income is determined by savings and investment, depreciation, and population growth, but where there is no permanent income growth. Any observed income growth per capita occurs because the economy is still converging towards its steady state, or because it is in transition from one steady state to another.The policies needed to achieve growth and development in the framework of these models is therefore straightforward: increases in savings and investments and reductions in the population growth rate, shift the economy to a higher steady state income level. From the view of developing countries, however, these policies are difficult to implement. Low income and development levels are not only consequences, but also causes of low savings and high population growth rates. The importance of technical progress was also recognized in the neoclassical growth models, but the determinants of the level of technology were not discussed in detail; instead, technology was seen as an exogenous factor. Yet, it was clear that convergence in income percapita levels could not occur unless technologies converged as well.From the 1980s and onwards, growth research has therefore increasingly focused on understanding and ontogenetic technical progress. Modern growth theory is largely built on models with constant or increasing returns to reproducible factors as a result of the accumulation of knowledge. Knowledge is, to some extent, a public good, and R&D, education, training, and other investments in knowledge creation may generate externalities that prevent diminishing returns to scale for labor and physical capital. Taking this into account, the economy may experience positive long-run growth instead of the neoclassical steady state where per capita incomes remain unchanged. Depending on the economic starting point, technical progress and growth can be based on creation of entirely new knowledge, or adaptation and transfer of existing foreign technology.Along with international trade, the most important vehicle for international technology transfer is foreign direct investment (FDI). It is well known that multinational corporations (MNCs) undertake a major part of the world’s private R&D efforts and production, own and control most of the world’s advanced technology. When a MNC sets up a forei gn affiliate, the affiliate receives some amount of the proprietary technology that constitutes the parent’s firm specific advantage and allows it to compete successfully with local firms that have superior knowledge of local markets, consumer preferences, and business practices. This leads to a geographical diffusion of technology, but not necessarily to any formal transfer of technology beyond the boundaries of the MNCs; the establishment of a foreign affiliate is, almost per definition, a decision to internalize the use of core technology.However, MNC technology may still leak to the surrounding economy through external effects or spillovers that raise the level of human capital in the host country and createproductivity increases in local firms. In many cases, the effects operate through forward and backward linkages, as MNCs provide training and technical assistance to their local suppliers, subcontractors, and customers. The labor market is another important channel for spillovers, as almost all MNCs train operatives and managers who may subsequently take employment in local firms or establish entirely new companies.It is therefore not surprising that attitudes towards inward FDI have changed considerably over the last couple of decades, as most countries have liberalized their policies to attract all kinds of foreign investment. Numerous governments have even introduced various forms of investment incentives to encourage foreign MNCs to invest in their jurisdiction. However, productivity and technology spillovers are not automatic consequences of FDI. Instead, FDI and human capital interact in a complex manner, where FDI inflows create a potential for spillovers of knowledge to the local labor force, at the same time as the host country’s level of human capital determines how much FDI it can attract and whether local firms are able to absorb the potential spillover benefits.2. Foreign Direct Investment and SpilloversThe earliest discussions of spillovers in the literature on foreign direct investment date back to the 1960s. The first author who systematically introduced spillovers (or external effects) among the possible consequences of FDI was MacDougall (1960), who analyzed the general welfare effects of foreign investment. The common aim of the studies was to identify the various costs and benefits of FDI.Productivity externalities were discussed together with several other indirect effects that influence the welfare assessment, such as those arising from the impact of FDI on government revenue, tax policies, terms of trade, and the balance of payments. The fact that spillovers included in the discussion was generally motivated by empirical evidence from case studies rather than by comprehensive theoretical arguments.Yet, the early analyses made clear that multinationals may improve locatives efficiency by entering into industries with high entry barriers and reducing monopolistic distortions, and induce higher technical efficiency if the increased competitive pressure or some demonstration effect spurs local firms to more efficient use of existing resources. They also proposed that the presence may lead to increases in the rate of technology transfer and diffusion. More specifically, case studies showed that foreign MNCs may:(1) Contribute to efficiency by breaking supply bottlenecks (but that the effect may become less important as the technology of the host country advances);(2) Introduce new know-how by demonstrating new technologies and training workers who later take employment in local firms;(3) Either break down monopolies and stimulate competition and efficiency or create a more monopolistic industry structure, depending on the strength and responses of the local firms;(4) Transfer techniques for inventory and quality control and standardization to their local suppliers and distribution channels;Although this diverse list gives some clues about the broad range of various spillover effects, it says little about how common or how important they are in general. Similar complaints can be made about the evidence on spillovers gauged from the numerous case studies discussing various aspects of FDI in different countries and industries. These studies often contain valuable circumstantial evidence of spillovers, but often fail to show how significant the spillover effectsare and whether the results can be generalized.For instance, many analyses of the linkages between MNCs and their local suppliers and subcontractors have documented learning and technology transfers that may make up a basis for productivity spillovers or market access spillovers. However, these studies seldom reveal whether the MNCs are able to extract all the benefits that the new technologies or information generate among their supplier firms. Hence, there is no clear proof of spillovers, but it is reasonable to assume that spillovers are positively related to the extent of linkages.Similarly, there are many works on the relation between MNCs entry and presence and market structure in host countries, and this is closely related to the possible effects of FDI on competition in the local markets. There are also case studies of demonstration effects, technology diffusion, and labor training in foreign MNCs. However, although these studies provide much detailed information about the various channels for spillovers, they say little about the overall significance of such spillovers.The statistical studies of spillovers, by contrast, may reveal the overall impact of foreign presence on the productivity of local firms, but they are generally not able to say much about how the effects come about. These studies typically estimate production functions for locally owned firms, and include the foreign share of the industry as one of the explanatory variables. They then test whether foreign presence has a significant positive impact on local productivity once other firm and industry characteristics have been accounted.Research conclude that domestic firms exhibited higher productivity in sectors with a larger foreign share, but argue that it may be wrong to conclude that spillovers have taken place if MNC affiliates systematically locate in the more productive sectors. In addition, they are also able to perform some more detailed tests of regional differences in spillovers. Examining the geographical dispersion of foreign investment, they suggest that the positive impact of FDI accrue mainly to the domestic firms located close to the MNC affiliates. However, effects seem to vary between industries.The results on the presence of spillovers seem to be mixed; recent studies suggest that there should be a systematic pattern where various host industry and host country characteristics influence the incidence of spillovers. For instance, the foreign affiliate’s levels of tech nology or technology imports seem to influence the amount of spillovers to local firms. The technology imports of MNC affiliates, in turn, have been shown to vary systematically with host country characteristics. These imports seem larger in countries and industries where the educational level of the local labor force is higher, where local competition is tougher, and where the host country imposes fewer formal requirements on the affiliates’ operations.Some recent studies have also addressed the apparent contradictions between the earlier statistical spillover studies, with the hypothesis that the host country’s level of technical development or human capital may matter as a starting point.In fact, in some cases, large foreign presence may even be a sign of a weak local industry, where local firms have not been able to absorb any productivity spillovers at all and have therefore been forced to yield market shares to the foreign MNCs.3. FDI Spillover and Human Capital DevelopmentThe transfer of technology from MNC parents to its affiliates and other host country firms is not only mbodied in machinery, equipment, patent rights, and expatriate managers and technicians,but is also realized rough the training of local employees. This training affects most levels of employees, from simple manufacturing operatives through supervisors to technically advanced professionals and top-level managers. While most recipients of training are employed in the MNCs own affiliates, the beneficiaries also include employees among the MNCs suppliers, subcontractors, and customers.Types of training ranged from on-the-job training to seminars and more formal schooling to overseas education, perhaps at the parent company, depending on the skills needed. The various skills gained through the elation with the foreign MNCs may spill over directly when the MNCs do not charge the full value of the training provided to local firms or over time, as the employees move to other firms or set up their own businesses.While the role of MNCs in primary and secondary education is marginal, there is increasingly clear evidence hat FDI may have a noticeable impact on tertiary education in their host countries. The most important effect is perhaps on the demand side. MNCs provide attractive employment opportunities to highly skilled graduates in natural sciences, engineering, and business sciences, which may be an incentive for gifted students to complete tertiary training, and MNCs demand skilled labor, which may encourage governments to invest in higher education.Many studies undertaken in developing countries have emphasized the spillovers of management skills. There is evidence of training and capacity development in technical areas, although the number of detailed studies appears smaller.While training activities in manufacturing often aim to facilitate the introduction of new technologies that are embodied in machinery and equipments, the training in service sectors is more directly focused on strengthening skills and know-how embodied in employees. This means that training and human capital development are often more important in service industries. Furthermore, many services are not tradable across international borders, which mean that service MNCs to a great extent are forced to reproduce home country technologies in their foreign affiliates. As a consequence, service companies are often forced to invest more in training, and the gap between affiliate and parent company wages tends, therefore, to be smaller than that in manufacturing.4. ConclusionThis paper has noted that the interaction of FDI and spillovers is complex and highly non-linear, and that several different outcomes are possible. FDI inflows create a potential for spillovers of knowledge to the local labor force, at the same time as the host country’s level of human capital determines how much FDI it can attract and whether local firms are able to absorb the potential spillover benefits. Hence, it is possible that host economies with relatively high levels of human capital may be able to attract large amounts of technology intensive foreign MNCs that contribute significantly to the further development of labor skills. At the same time, economies with weaker initial conditions are likely to experience smaller inflows of FDI, and those foreign firms that enter are likely to use simpler technologies that contribute only marginally to local learning and skill development.翻译一：外商直接投资溢出效应研究1.引言在最近几十年中，经济学家们已开始确定技术进步，或更普遍认为知识创造，作为经济增长原动力的一个重要决定因素，直到20世纪70年代，分析经济增长运用典型的新古典主义模型来解释经济增长的积累，劳动力、资本等生产要素与收益递减的规模。

英文翻译题目Determinants and consequences of internal controlin firms: a contingency theory based analysis 学院名称经济管理学院指导教师王龙辉职称讲师班级财务管理 081班学号 20084960137 学生姓名高旭2012年05月25日企业内部控制的影响因素和后果：基于权变理论的分析摘要:为了保证企业需求内部控制活动的有效性和信息的可靠性以及遵守法律的适用性。

因此，COCO,COSO等几个框架显示公司的特这个不同对内部的控制也不同。

每个组织要选择最适合的控制系统时，必须考虑到意外事故的风险是否切合权变理论。

本文研究的是检视这些风险特点的选择是否适应他们公司内部控制结构和它是否会导致一些更加优惠的有效性的评估控制管理。

虽然内部控制的组成部分已进行单独控制，本文尝试阐明内部控制的关键点并将其放到更加广阔的背景中。

结果证明，基于对741芬兰公司WEB调查，表明公司用内部控制结构来应对环境的不确定性，并观测控制的有效性的战略对其内部控制结构有着显著的效果。

关键词：内部控制成效权变理论结构方块建模1 文章概述人们普遍认为，一个内部控制系统可以帮助企业降低风险的财务报表的可靠性保证体系和法律的遵循情况（Spira and page 2003）因此，越来越多的企业倒闭和一些广泛宣传企业舞弊行为导致企业在他们具体的操作环境下更多的关注自己的内部控制。

在巨大的管理压力下，如何提高内部控制的有效性以及有效的与董事会和股东沟通。

由于内部控制可能会影响长期的报告，导致审计人员、供应商、客户都对内部控制感兴趣。

Kinney在2000年指出，尽管内部控制对公司影响很大，但在组织环境中内部控制结构却无法实现。

关于内部控制的抓也文献在国际研究上已取得进展，但迄今为止，内部控制的研究数量有限。

在2004年Selto andWidener出版的专业文章中提出，在管理控制中研究较少的内部控制有着很强的实用性。