International accounting

Course Code: ACT 414

Credit Hour: 3

Course Group: Specialization Course: Accounting

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Introduction: historical perspective, contemporary perspective, financial innovation, global competition, cross-border mergers and acquisitions, internationalization of capital markets.

Development and Classification: development, classification, four approaches to accounting development, legal systems: common law vs. code law accounting, practice systems: fair presentation vs. legal compliance accounting.

Comparative Accounting: Europe: some observations about accounting standards and practice, IFRS in the European Union, five national financial accounting systems, France, Germany, Czech Republic, Netherlands, United Kingdom.

Comparative Accounting: The Americas and Asia: five national financial accounting systems, united states, Mexico, Japan, china, India.

Reporting and Disclosure: development of disclosure, voluntary disclosure, regulatory disclosure requirements, reporting and disclosure practices, segment disclosures, social responsibility reporting.

Foreign Currency Translation- results of operations, reasons for translation, single-transaction perspective, twotransaction perspective, multiple-rate methods.

Financial Reporting and Changing Prices: types of inflation adjustments, general price-level adjustments, price indexes, current-cost adjustments, general price-level adjusted current costs, national perspectives on inflation accounting;

Global Accounting and Auditing Standards: a survey of international convergence, advantages of international convergence, criticisms of international standards, reconciliation and mutual recognition.

International Financial Statement Analysis: introduction, challenges and opportunities in cross-border analysis, business analysis framework, international business strategy analysis, information availability.

International Taxation and Transfer Pricing: initial concepts, diversity of national tax systems, types of taxes, tax burdens, tax administration systems, foreign tax incentives, harmful tax competition.

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Text Books

S. Choi, F. D., & Meek, G. K. International accounting (6th ed.). New Jersey: Pearson Education.

Walton, P., Haller, A., & Raffournier, B. (2003). International Accounting (2nd ed.). London: Thomson Learning.