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ENT432Management Sciences2 Unitsintermediate

International Accounting System

This course focuses on the International Accounting System, exploring accounting practices within a global context. It emphasizes the harmonization of accounting standards to facilitate international cooperation. The course covers multinational corporations, performance evaluation, foreign currency issues, international taxation, and transfer pricing. Students will learn about financial reporting in the international environment, challenges in transnational financial reporting, and strategies for accommodating foreign readers of financial reports. The course aims to equip students with a comprehensive understanding of international accounting practices.

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208h
Study Time
13
Weeks
16h
Per Week
basic
Math Level
Course Keywords
International AccountingHarmonizationMultinational CorporationsFinancial ReportingCurrency Translation

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

International Accounting Standards

2

Accounting Harmonization

3

Multinational Corporations

4

Financial Reporting

5

Currency Translation

6

Performance Evaluation

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

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

Management Accountant

Apply your skills in this growing field

Financial Manager

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Multinational CorporationsFinancial ServicesConsultingAuditing FirmsGovernment Agencies

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: International Accounting

6h

Unit 1: Financial Accounting with International Perspective

3 study hours
  • •Understand the role of environment in shaping accounting practices.
  • •Discuss the impact of globalization on financial services.
  • •Examine the integration of international aspects into financial management.

Unit 2: Factors Influencing Accounting Development

3 study hours
  • •Identify and discuss the factors influencing accounting development.
  • •Analyze the impact of external finance on accounting practices.
  • •Examine the role of legal systems in shaping accounting standards.
Week
2

Module 1: International Accounting

3h

Unit 3: Diversity in Financial Accounting Practices

3 study hours
  • •Compare and contrast the three major accounting models.
  • •Analyze existing practice differences in financial accounting.
  • •Evaluate the consequences of international accounting diversity.
Week
3

Module 2: Accounting Harmonization

3h

Unit 1: Promotion of International Accounting Harmonization

3 study hours
  • •Explain the purposes of accounting and auditing standards.
  • •Discuss the benefits of accounting harmonization.
  • •Identify and analyze the barriers to accounting harmonization.
Week
4

Module 2: Accounting Harmonization

3h

Unit 2: International Accounting Standard Committee

3 study hours
  • •State the objectives of IASC.
  • •Describe the operating structure of IASC.
  • •Explain the operating procedures of IASC for setting up accounting standards.
Week
5

Module 2: Accounting Harmonization

3h

Unit 3: Financial Reporting in the International Environment

3 study hours
  • •Define transnational financial reporting and its causes.
  • •Discuss the problems confronting users of foreign financial statements.
  • •Explain how multinational corporations accommodate foreign readers.
Week
6

Module 2: Accounting Harmonization

3h

Unit 4: Global Assessment of Disclosure Practices

3 study hours
  • •Distinguish between financial and nonfinancial disclosure.
  • •Explain the bases used for ensuring disclosure.
  • •Discuss segment disclosure, financial forecast disclosures, and information about shares and shareholders.
Week
7

Module 3: Issues with Multinational Corporations

3h

Unit 1: The Multinational Corporations

3 study hours
  • •Define multinational corporations and distinguish from transnational corporations.
  • •Explain the motives for direct foreign investment.
  • •Discuss the international perspective on consolidated financial statements.
Week
8

Module 3: Issues with Multinational Corporations

3h

Unit 2: International Financial Statement Analysis

3 study hours
  • •Explain how financial accounting reflects the environment it serves.
  • •Discuss the framework for financial statement analysis.
  • •Analyze the impact of cultural and accounting values on financial reporting.
Week
9

Module 3: Issues with Multinational Corporations

3h

Unit 3: Information Systems for Multinational Planning and Control

3 study hours
  • •Analyze how MNC affects the information system.
  • •Identify communication problems in MNCs.
  • •Examine the role of information systems in multinational planning and control.
Week
10

Module 3: Issues with Multinational Corporations

3h

Unit 4: Multinational Budgeting Systems

3 study hours
  • •Explain the fundamental and technical approaches to forecasting exchange rates.
  • •Discuss basic approaches to capital budgeting and profit planning.
  • •Outline the steps involved in building the capital budget.
Week
11

Module 4: Evaluation and Translation

3h

Unit 1: Performance Evaluation in Multinational Corporations

3 study hours
  • •Define performance evaluation.
  • •Explain profitability measures, sales growth, and cost reduction.
  • •Discuss the use of budgets as a success indicator.
Week
12

Module 4: Evaluation and Translation

3h

Unit 2: Issues to Consider when Developing MNC Evaluation Systems

3 study hours
  • •Discuss separating manager performance from subsidiary performance.
  • •Analyze treating foreign subsidiaries as profit centers.
  • •Examine the impact of currency choice on performance evaluation.
Week
13

Module 4: Evaluation and Translation

6h

Unit 3: Foreign Currency Translation

3 study hours
  • •Define exchange rates and explain the reasons for exchange rate changes.
  • •Outline the steps taken in the translation of financial statements.
  • •Familiarize yourself with the impact of foreign exchange rates changes.

Unit 4: Translation Methods

3 study hours
  • •Discuss what it means to translate a financial statement item at the historical exchange rate.
  • •Discuss what it means to translate items in the financial statement at the current exchange rate.

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

Create concept maps linking Units 3-5 accounting models and practices.

2

Practice currency translation exercises from Units 7-9 weekly.

3

Review key differences between IFRS and US GAAP from Units 10-12.

4

Focus on understanding the impact of cultural values on accounting systems from Units 13-15.

5

Prioritize studying performance evaluation methods in multinational corporations from Units 16-18.

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