Accountancy guide to international trade

A guide designed to help accountants advise their clients on international issues has been produced by UK Trade & Investment (UKTI) and the Institute of Chartered Accountants in England and Wales.

The publication, ‘International Trade: An Accountant’s Guide’, also aims to help finance directors, financial controllers and other accountants in business assess the financial risk and profitability of an international project or sale.

The guide contains four sections: the first shows a typical set of accounts with key issues highlighted, each of which is considered in detail in part three. Part two lists the questions that a person should ask before they start to trade internationally. Part four comprises a number of appendices: a checklist of issues to consider, a methodology for calculating profitability, a methodology for assessing exchange risks, an overview of how UKTI can work with accountants and a list of sources of advice.

The full guide can be downloaded below.