... harmonization/IASC standards11 Foreign exchange-markets- 22 -12 Foreign exchange-basics, products, terminology, and mechanics13 Accounting for foreign exchange transactions14 Accounting for foreign ... international firms, and comparisons of accounting principles and practicesfound in foreign lands and the procedures by which they are established.According to M. Iqbal, T. Melcher and A. Elmallah ... corporation, and (4) foreign directinvestment, have created an environment in which business transactions, their conduct,measurement and disclosure, take new and distinctive forms that call for a...