INTERNATIONAL ACCOUNTING (2 Credits)

Learning Outcomes:

On successful completion of this course, student will be able to: Explain the concept of international accounting, environment and the accounting practices in some countries, the diversity in accounting internationally and problems caused by accounting diversity; Explain the concept of international convergence of financial reporting standards, the difference between IFRS and US GAAP, the impact on the financial statement and the foreign exchange market; Apply the international financial reporting standards, the accounting for foreign currency transaction, international transfer pricing, the concept of hedging and translation foreign currency financial statements; Apply the concept of corporate income tax and withholding tax in different countries, tax treaties and tax incentives; Explain strategic formulation, implementation and performance evaluation in multinational corporations, explain the link between auditing and corporate governance in an international context and the CSR practices at international level.

Topics:

1. Worldwide Accounting Diversity;
2. International Convergence of Financial Reporting;
3. Comparative Accounting;
4. International Financial Reporting Standards I;
5. International Financial Reporting Standards II;
6. Financial Reporting Issues;
7. Foreign Currency and Hedging Foreign Exchange Risk;
8. Translation of Foreign Currency Financial Statements;
9. International Corporate Social Reporting;
10. International Taxation;
11. International Transfer Pricing;
12. Strategic Accounting Issues in Multinational Corporations;
13. Comparative International Auditing and Corporate Governance.