Term Paper

Topics: Business, International Financial Reporting Standards, Financial statements Pages: 8 (2332 words) Published: December 3, 2012
Fall 2012
COURSE:Accounting 340 – International Accounting
OFFICE PHONE:309-556-3170
OFFICE HOURS: (IWU) M10:00-11:00 AM, TH 5:00- 6:00 PM and by appointment Required Textbook:Doupnik and Perera: International Accounting. McGraw Hill Irwin 2012, 3rd edition. HANDOUTS Numerous handouts from various sources.

RECOMMENDED:Wall Street Journal, the Economist, Business Week, Financial Times

Mission STATEMENT: The mission of the Department of Accounting is to provide high quality educational programs to students preparing for professional careers in accounting and business information systems, to support research and other scholarly activities consistent with these programs, and to establish mutually productive relationships with outside organizations through service activities. This mission includes providing service courses in the accounting and business information systems areas to students within the College, the University, and the Community.

This course will examine the following major areas of international accounting
1. Problems of multinational business in the areas of managerial planning and control, foreign currency transactions, translation of financial statements, consolidation of financial statements, tax planning, and transfer pricing.

2.Problems of adopting and implementing IFRS and differences of auditing standards and the efforts that are being made to overcome these problems.
3.Comparison of different business cultures and the impact they have on accounting.
4.Current issues in international accounting and business.
5.The importance of business ethics in international operations.

Business firms in the 21st Century compete in a global marketplace. Understanding international issues is critical to the education of a well rounded, competent business student. International accounting introduces and examines accounting issues unique to multinational enterprises and international business activity. Specific course topics include International Financial Reporting Standards (IFRS), auditing the global firm; financial reporting outside the USA; international financial disclosure issues such as segmental social, and environmental; accounting harmonization; ethics; taxation; foreign exchange; and cultural issues.  As technology is increasingly important to successful business operations, some assignments will require use of the computer, such as searching the Web for accounting information and using Microsoft Excel spreadsheet software for financial analysis. In virtually all business firms, employees are often required to work with others on team projects. To foster development of interpersonal and presentation skills, team projects are assigned. topics and issues.     This course is intended to provide students with a framework for analyzing problems which arise in international accounting. It is not intended to provide students with definitive answers, but only to make them aware of areas in which problems may arise and to allow them to ask the right questions.

The principal objective of this course is to get students to think about international accounting issues, international issues, and their implications for US businesses. The specific learning objectives include the following: * To develop an understanding of the international business environment * To be able to explain key elements of IFRS and the move toward harmonization. * To relate how international operations affect accounting and business activities. * To relate how culture affects accounting and business activities. * To use Internet resources to solve international accounting problems. * To use spreadsheet software to solve international accounting...
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