| CODE | ACC5982 | ||||||||||||
| TITLE | International Accounting | ||||||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||||||
| MQF LEVEL | 7 | ||||||||||||
| ECTS CREDITS | 5 | ||||||||||||
| DEPARTMENT | Accountancy | ||||||||||||
| DESCRIPTION | Topics discussed and addressed in this study-unit include the: - Evolution of global standards and the international conceptual framework; - Role of political lobbying in standard setting; - Classification of accounting systems - the influence of culture, legal and taxation systems on accounting standards; - The role of international financial statement analysis in interpreting financial statements prepared in compliance with different accounting regulatory frameworks; - International harmonisation of accounting rules, including a discussion of the IASB-FASB Memorandum of Understanding; - IFRS adoption worldwide and its potential adoption in the U.S; - Examples of harmonisation: Share based payments; - Examples of harmonisation: Performance Reporting - The statement of Other Comprehensive Income; - Issues around the enforcement of accounting standards. Study-unit Aims: This study-unit provides the student with an understanding of accounting in an international context and an appreciation of the importance of a country’s cultural, social, economic, legal and political environment in determining the nature of accounting. In this respect, the problems of financial reporting diversity across countries as a result of the increasing internationalisation of business are explored. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Explain the development of accounting and the importance of international accounting in the increased internationalization of business; - Identify and summarise the different environmental and cultural factors influencing the development of accounting; - Assess accounting diversity and analyse the problems caused by such diversity. 2. Skills: By the end of the study-unit the student will be able to: - Distinguish between the performance of companies from different countries using their corporate annual reports; - Identify the harmonisation efforts made by various transnational regulatory bodies. Main Text/s and any supplementary readings: - Nobes, C. and Parker, R. (Current edition). Comparative International Accounting, Pearson (Main text). - Elliott, B. and Elliott, J (Current edition). Financial Accounting and Reporting, Pearson. - Picker, R., Leo, K., Wise, V., Clark K, and Alfredson K. (Current edition). Applying International Financial Reporting Standards, Wiley (Supplementary text). The study-unit will also make reference to numerous academic articles published in top tier accounting journals. |
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| ADDITIONAL NOTES | Pre-requisite Qualifications: Bachelor of Commerce with Accountancy Stream | ||||||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||||||
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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