International Accounting

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ACCG326 International Financial Accounting

Session 2, 2012
Week 13 Lecture
“Revision”

1

LEARNING OUTCOMES
• Gain an understanding of differences in accounting methods and disclosure practices and how accounting and corporate disclosure is regulated in a range of different nations, and the role that the accounting profession, government and other bodies have in that regulation. • Gain an understanding of the cultural, economic, political and historical factors that help explain differences and similarities in patterns of accounting and regulation across nations, and how these factors may influence the move towards international harmonization.

2

LEARNING OUTCOMES
• Gain an appreciation of the issues and problems facing international companies in organizing, managing, planning, controlling and evaluating, their global operations. • Develop and strengthen generic skills in the areas of report writing and topic discussion. • Demonstrate awareness of social, ethical and corporate governance issues affecting accounting and the role of accountants internationally. • Learn independently and assume responsibility for the learning process and with academic integrity and learn with peers to co-operate with others and assume leadership. 3

WEEK 1 Introduction to International Accounting and Reporting • International development of accounting • National differences in accounting • Major factors in development. • Textbook Chapter 1: Pages 1 - 16

4

WEEK 2 International Accounting Patterns and Development
• Reasons for accounting diversity
• Problems caused by diversity

• Classification of accounting and reporting systems
• The influence of culture on financial reporting

• Textbook Chapter 2: Pages 23 - 55

5

WEEK 3 Accounting Standards and International Convergence
• Historical background • Harmonisation/convergence and arguments for/against

• Major harmonisation/convergence efforts
• IFRS/GAAP convergence

• Use of IFRS.
• Textbook Chapter 3: Pages 65 – 85, 88, 92 - 104

6

WEEK 4 International Financial Reporting
• Recognition and measurement standards • Disclosure and presentation standards • Differences between IFRS and US GAAP • Differences and financial statement analysis. • Textbook Chapter 4: Pages 114 - 157

7

WEEK 5 Comparative International Accounting I
• Accounting systems – China – Japan. • Textbook Chapter 6: Pages 233 – 254, 271 – 281.

8

WEEK 6 Comparative International Accounting II
• Accounting systems – USA – Germany • Textbook Chapter 6: Pages 254 – 271.

9

WEEKS 7 International Transparency, Disclosure and Financial Statement Analysis • Transparency and international disclosure regulation

• Reporting trends
• Pressures for transparency and disclosure.

• Financial statement analysis
• Textbook Chapter 10: Pages 493 – 507.

10

WEEK 8
Additional Reporting Issues - International Business Combinations and Segment Reporting • Aggregation of information through consolidation • Acquisition and merger accounting • Treatment of nonconsolidated subsidiaries • Harmonisation efforts regarding consolidation practices

• Conceptual issues involved in accounting for goodwill and intangibles • Textbook Chapter 9: Pages 464 – 484.

11

WEEK 9 International Transfer Pricing
• Decentralisation and goal congruence • Objectives of international transfer pricing • Transfer pricing methods • Enforcement of transfer pricing regulations. • Textbook Chapter 12: Pages 588 – 597, 611 – 614.

12

WEEK 10 International Performance Evaluation
• Design of effective performance evaluation systems • Performance measures • Financial versus nonfinancial measures of performance • Separating managerial and unit performance. • Textbook Chapter 13: Pages 642 – 664.

13

WEEK 11 International Auditing and Corporate Governance
• Governance mechanisms • Importance of global corporate governance • Studies in international corporate governance •...
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