International Accounting

Griffith University

Course Description

  • Course Name

    International Accounting

  • Host University

    Griffith University

  • Location

    Gold Coast, Australia

  • Area of Study

    Accounting, International Business

  • Language Level

    Taught In English

  • Prerequisites

    Prerequisite: 1102AFE, 1182AFE, 1101AFE, 1181AFE (Accounting For Decision Making, Accounting Principles, or equivalent).

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

    10
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Course Description
    This course focuses on the accounting issues encountered by business organisations operating in a global environment and analyses how different business environments influence accounting. It also gives students an appreciation of the diversity of accounting standards and practices in selected countries. Specific attention will be placed on topics such as foreign currency translations, international financial statement analysis, international accounting harmonisation, international transfer pricing and taxation, foreign exchange risk management, and international managerial accounting issues.
    Course Introduction
    Accounting, as the language of business, operates in a specific business environment and hence is shaped by environmental factors such as political, legal and economic systems, culture and traditions, provision of finance, taxation influence, and others in a nation. As a consequence of the differences in business environments across countries, accounting diversity is observed in the world. ?We do not speak the same business language?. Business organisations, when operating in a global environment, would need to learn how to analyse and deal with accounting diversity. In this course, we identify the accounting diversity and analyse how environmental factors influence accounting worldwide. In addition, business organisations need to deal with specific accounting issues brought about by international business, such as foreign currency translations, international financial statement analysis, adjusting accounting standard differences, foreign exchange risk management, international transfer pricing and taxation, etc. The course also aims to deal with these issues in accounting operations.
    Course Aims
    This course is designed to prepare students to contribute professionally and operate effectively in a global business environment. It aims to assist students in their understanding of how differences and changes in business environments affect the way accounting is practised and how to deal with specific accounting issues brought about by international business transactions.
    This course is a core course in the accounting area of the Bachelor of International Business Program. It builds on the first accounting course in the program, Accounting for Decision Making or Accounting Principles, and exposes students to the diversity of accounting practices around the world. The accounting diversity is a result of the differences in the business environments and practices in different countries, which are covered in other courses in the program.
    The course focuses on the accounting issues encountered by business organisations operating in a global environment and analyses how different business environments influence accounting. It also gives students an appreciation of the diversity of accounting standards and practices in selected countries.
    Specific attention will be placed on topics such as, Accounting for Foreign Currency Transactions and Translation of Foreign Currency Financial Statements, International Financial Statement Analysis, International Harmonisation of Accounting Standards and Practices, International Transfer Pricing and Taxation, Foreign Exchange Risk Management, corporate social reporting and business ethics, and international managerial accounting issues.
    Upon successful completion of this course, students will possess skills to analyse how and why accounting is practised differently in different business environments and deal with specific accounting issues encountered by business and other organisations in a global environment. This course will enhance students' confidence and enable students to contribute professionally and operate effectively in international business.
    Learning Outcomes
    After successfully completing this course you should be able to:
    1 Identify the relevant accounting issues confronted by business organisations that operate in the international arena;
    2 Detect the differences which exist in accounting standards and practices internationally and understand the problems that are caused by accounting diversity;
    3 Explain the reasons for accounting diversity and develop the links between accounting and the environment in which it operates;
    4 Explain how fluctuations in exchange rates lead to various problems in accounting and give rise to foreign exchange risk;
    5 Demonstrate the various accounting techniques that are used to account for foreign currency transactions and translation of foreign currency financial statements and to manage foreign exchange risk exposures;
    6 Understand the potential problems in using financial statements of foreign companies and apply the techniques available to overcome the problems;
    7 Describe differences in corporate income tax and withholding tax regimes across countries and understand how transfer pricing systems, in conjunction with taxation systems, can be used to achieve the corporate global objectives of multinational enterprises.
    8 Understand the efforts towards, the achievements of and obstacles for international accounting harmonisation and predict the future direction of international harmonisation movement;

    Assessment Task

    Weighting/Marked out of

    Exam - selected response
    Mid-Semester Examination

    20%/30

    Assignment - Written Assignment
    Individual Assignment

    30%/30

    Exam - selected and constructed responses
    Final Examination

    50%/100

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.