INTERNATIONAL ACCOUNTING Definition

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INTERNATIONAL ACCOUNTING is the international aspects of accounting, including such matters as accounting principles and reporting practices in different countries and their classification; patterns of accounting development; international and regional harmonization, foreign currency translation; foreign exchange risk; international comparisons of consolidation accounting and inflation accounting; accounting in developing countries; accounting in communist countries; performance evaluation of foreign subsidiaries.

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ESCHEAT is the reversion of property to the state (government) in the absence of legal heirs or claimants.

VALUATION RATIO is a fraction in which a value or price serves as the numerator and financial, operating, or physical data serve as the denominator.

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