ABSTRACT
It is hardly surprising that companies based in smaller countries find it easier to meet these criteria than companies in the United States or Japan. Thus Nestle or Ciba-Geigy, based in Switzerland, are clearly multinationals; whereas large US companies, even with very extensive overseas operations, may still have well over half of their sales and profits arising ‘at home’ in the US. Hence international accounting may be a more important topic for UK companies, as a rule, than for American or Japanese. Or European; since only just over 10 per cent of the GDP of ‘Euroland’ is exported.
