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ACC426Management Sciences3 Unitsintermediate

International Accounting

This course introduces the practice of international accounting and the provisions of accounting standards. It explores the causes of diversity in accounting practices globally, consolidation, and presentation of financial statements of foreign companies. The course covers international accounting standards and organizations, accounting for multinational corporations, and accounting for foreign operations. Students will learn financial statement analysis and translation methods.

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78h
Study Time
13
Weeks
6h
Per Week
intermediate
Math Level
Course Keywords
International AccountingIFRSMultinational CorporationsFinancial StatementsHarmonization

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

International Accounting Standards

2

Financial Statement Translation

3

Multinational Corporations

4

Foreign Currency Transactions

5

Harmonization of Accounting Standards

6

Performance Evaluation

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Financial Accounting

Corporate Finance

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

International Accountant

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Auditor

Apply your skills in this growing field

Financial Manager

Apply your skills in this growing field

Consultant

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

BankingManufacturingConsultingAuditingPublic Sector

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Introduction to International Accounting

3h

Unit 1: Historical Background to International Accounting

3 study hours
  • •Read about the history of accounting and its evolution to international accounting.
  • •Understand the factors influencing accounting development globally.
  • •Complete Tutor-Marked Assignment 1.
Week
2

Module 1: Introduction to International Accounting

3h

Unit 2: The Concepts of International and Universal Accounting

3 study hours
  • •Discuss the concepts of international and universal accounting.
  • •Explain the origin of national differences in accounting.
  • •Identify the causes of international accounting differences.
Week
3

Module 1: Introduction to International Accounting

3h

Unit 3: International Harmonization of Accounting Standards

3 study hours
  • •Understand the nature of harmonization of accounting standards.
  • •Discuss the reasons and obstacles for harmonization.
  • •Explain the role of IASB and other bodies in harmonization.
Week
4

Module 2: International Accounting Standards and Organizations

3h

Unit 1: International Accounting Standard Setting Bodies and Organs

3 study hours
  • •Explain abbreviations used in accounting standards.
  • •Discuss the origin and functions of IFAC and FASB.
  • •Highlight the purposes of the IFRS Foundation.
Week
5

Module 2: International Accounting Standards and Organizations

3h

Unit 2: International Financial Reporting Standards

3 study hours
  • •Differentiate between IAS and IFRS.
  • •Discuss the origin of IAS.
  • •Explain the functions of the IFRS Interpretations Committee.
Week
6

Module 2: International Accounting Standards and Organizations

3h

Unit 3: Adoption of IFRS in Nigeria

3 study hours
  • •Discuss the history of accounting standards in Nigeria.
  • •Explain the reasons for the adoption of IFRS in Nigeria.
  • •Highlight the challenges of adopting IFRS and its tax implications.
Week
7

Module 3: Accounting for Multinational Corporations

3h

Unit 1: The Multinational Corporations

3 study hours
  • •Explain the concept of Multinational Corporations (MNCs).
  • •Discuss the characteristics, advantages, and disadvantages of MNCs.
  • •Discuss the accounting issues of multinational corporations.
Week
8

Module 3: Accounting for Multinational Corporations

3h

Unit 2: Presentation and Analysis of Financial Reports by Multinational Corporations

3 study hours
  • •Discuss disclosures in financial statements with an international perspective.
  • •Explain the concept of financial statement analysis.
  • •Highlight the techniques of financial statement analysis.
Week
9

Module 3: Accounting for Multinational Corporations

3h

Unit 3: Performance Evaluation in MNCS

3 study hours
  • •Discuss the concept of performance evaluation.
  • •Highlight financial measures used by MNCs to evaluate subsidiaries.
  • •Discuss issues to consider when developing MNC evaluation systems.
Week
10

Module 4: Accounting for Foreign Operations

3h

Unit 1: IAS 21 and Reporting Foreign Currency Transactions in the Functional Currency

3 study hours
  • •Discuss the terminologies used in financial statements translation.
  • •Highlight direct business transactions and their treatment under IAS 21.
  • •Solve practical problems on foreign currency transactions.
Week
11

Module 4: Accounting for Foreign Operations

3h

Unit 2: IAS 21 and Financial Statement Translation of Foreign Operations: Foreign Branches

3 study hours
  • •Discuss the methods of financial statements translation for foreign branches.
  • •Explain the ways to determine the appropriate translation method.
  • •Translate the financial statements of a foreign branch.
Week
12

Module 4: Accounting for Foreign Operations

3h

Unit 3: IAS 21 and Financial Statement Translation of Foreign Operations: Consolidated Financial Statements

3 study hours
  • •Discuss the types of relationships between parent and subsidiaries.
  • •Highlight the steps involved in financial statements translation of foreign subsidiaries.
  • •Practice translating financial statements for consolidation.
Week
13

Module 4: Accounting for Foreign Operations

6h

Final Revision

6 study hours
  • •Review all modules and units.
  • •Work on assignments and TMAs.
  • •Prepare for final examinations.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all IAS and IFRS standards covered in the course.

2

Practice translating financial statements using different exchange rates.

3

Focus on understanding the accounting issues specific to multinational corporations.

4

Create summaries of key concepts and formulas for quick reference.

5

Solve past examination questions to familiarize yourself with the exam format.

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