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Course List

International Accounting

  • Course Code :
    ACC 359
  • Level :
    Undergraduate
  • Course Hours :
    3.00 Hours
  • Department :
    Department of Accounting

Instructor information :

Area of Study :

The objective of this course is to provide an overview on the international dimensions of accounting. It includes international accounting definition, objectives, and characteristics. The institutions concerned with international accounting, accounting for external operations of multinational companies, accounting for operations of companies having branches and foreign agencies, and the accounting for the effects on price changes of foreign currencies. It also includes the problems associated with the preparation of financial statements in foreign currencies, and the international financial statement analysis. It includes the study of some international accounting standards, a comparative study of the accounting systems in different countries, and the possibility of standards harmonization on the international level.

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International Accounting

International issues and their implications for businesses, the international business environment, and the international differences in financial reporting and the move towards harmonization , the impact of foreign operations and foreign exchange transactions.

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International Accounting

Course outcomes:

a. Knowledge and Understanding:

1- Understand the Reasons for Foreign Currency Translation
2- Understand different terminologies related to Foreign Currency Transactions
3- Know how to prepare translated financial statements
4- Understand single-step and multiple-step methods of recording foreign transactions

b. Intellectual Skills:

1- Apply their knowledge to choose the appropriate Translation Method
2- Differentiate between spot rate and forward rate
3- Differentiate between direct quote and indirect quote

c. Professional and Practical Skills:

1- Differentiate between the different international accounting terms and concepts
2- Journalize foreign transactions using single-step and multiple-step method
3- Prepare translated income statement, and balance sheet using different translation methods

d. General and Transferable Skills:

1- Understand, evaluate accounting problems
2- d2. Apply critical thinking skills to determine and support a solution to accounting problems

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International Accounting

Course topics and contents:

Topic No. of hours Lecture Tutorial/Practical
Chapter One: Introduction to International Accounting 4 3 1
Revision 4 3 1
Second Mid Term Exam 2 3 1
Chapter Three 4 3 1
Chapter Three 4 3 1
Chapter Three 4 3 1
Revision 4 3 1
Chapter Two: Single-Step and Multiple-Step of Recording Foreign Transactions 4 3 1
Chapter Two 4 3 1
Chapter Two 4 3 1
Chapter Three: Foreign Currency Translation Methods of Translating Financial Statements 4 3 1
First Mid Term Exam 2
Chapter Three 4 3 1
Chapter Three 4 3 1
Quiz 4 3 1

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International Accounting

Teaching And Learning Methodologies:

Teaching and learning methods
Lectures
Data show in lectures
Class discussion
Exercises and cases

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International Accounting

Course Assessment :

Methods of assessment Relative weight % Week No. Assess What

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International Accounting

Books:

Book Author Publisher
International Accounting Frederick Choi Prentice Hall

Course notes :

Handouts

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