International Accounting

Catalog description

The first goal of this course is to provide an overview of how accounting is practiced differently around the world. This goal is accomplished by the first part of the course, which mainly discusses differences between International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (U.S. GAAP). The second goal of this course is to understand accounting issues uniquely confronted by companies involved in international business, such as the accounting for foreign currency transactions, the translation of foreign currency financial statements for the purpose of preparing consolidated financial statements, and other issues that are of particular importance to multinational corporations. This goal is accomplished by the second part of the course.