Transcript www.acis.pamplin.vt.edu

Australia
Shamir Hubbard, Wenbo Cai, Mengnan Cheng, Taineka Baker, and Alex
Alonso.
So we don’t get a zero
The capital is Sydney
Population is around 23,000,000 as
of 2015.
Current Prime Minister: Tony Abbott
The earliest known settlement was
by the Dutch in the late 1600s.
Australia is a continent
Culture
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Ethnic make-up
Religion
Language
Age
Influences
Political/ Legal System
● political system
● government structure
Human Resource Issues
● Unemployment
● Discrimination
● Ageing population
Predominate Business/Economy Model
● The main industries are mining, industrial,
transportation,and equipment.
● The economy relies on trade from China, United States,
Japan, and Singapore.
● Trade agreements with these countries
● Economy is stable and has a stock exchange.
Business Risks
● the Asian economies
● the research, development, and design
● instability of the Asian Pacific
Gray-Based Comparison
IFRS Based Comparison
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Australia has adopted IFRS
Extraordinary items
Inventory
Statement of Cash Flows
Error correction
Impacts of Non-state Actors
● MNC’s
● Financial Institutions
Globalization: The Good
● Australia’s economy has grown at an
average rate of 3.7% per year
● Natural resources and goods/products
● The reduction of protectionist policies and
tariffs
Globalization: The Good
GDP per Capita compared to
other countries
Globalization: The Bad
● Increase in cultural imperialism through MNC’s
dominating local industries
● MNC’s contribute to environmental issues
● Agriculture has been negatively affected from
environment
● Geographic limitations
● Australia’s remote location increases cost of
business
● Decreases innovation adaptation
Globalization: The Ugly
● Crime
● Natural resource depletion
● Human resource abuse
Questions or Comments