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BUS 5613 Global Accounting and Financial Analysis


Course Description

This course focuses on accounting and financial techniques and practices from an international perspective. Covers the impact of contexts (different countries, industries, markets, and regulatory regimes) on accounting and finance. Also focuses on analytical approaches to accounting and finance data as it affects organizations and stakeholders.

Course Objectives

Upon completing this course, students will be able to:

  • Evaluate the difference between reporting and auditing standards in different countries
  • Interpret financial information compiled using different national accounting standards and those compiled using international financial reporting standards
  • Evaluate and compare the available foreign currency translations methods and their appropriateness for different business or market conditions
  • Explain the effects of general price-level changes and exchange rate fluctuations on the information quality of financial statements
  • Describe the unique issues of analyzing international business strategies and cross-country financial analyses
  • Distinguish between accounting exposure and economic exposure and appreciate the risks associated with each

Week 1


Module: Financial Reporting in the Global Arena
Lecture: Introduction 
Lecture: The Impact of Financial Reporting Differences on Information Quality

Outcomes

After completing this module, students should be able to:

  • Identify the main environmental variables that shape accounting
  • Recognize the differing role of accounting worldwide
  • Demonstrate the economic effects of accounting diversity
  • Explain the benefits of classifying countries into accounting clusters
  • Distinguish between the “fair presentation” and “legal compliance” focus of accounting

Week 2


Module: The Move to International Financial Reporting Standards
Lecture: Harmonization vs. Convergence 

Outcomes

After completing this module, students should be able to:

  • Recognize the arguments for and against harmonization
  • Identify the pressures for and the obstacles to harmonization
  • Identify the main organizations involved in harmonization
  • Examine some previous harmonization efforts
  • Compare harmonization approaches in EU and ASEAN

Week 3


Module: Accounting for Currency Exchange Rate Changes
Lecture: Impact of Exchange Rate Fluctuations

Outcomes

After completing this module, students should be able to:

  • Provide an overview of foreign exchange markets and define related terminology
  • Describe the different types of foreign exchange exposure
  • Differentiate between foreign currency transaction and translation
  • Compare the different methods of accounting for foreign currency translation
  • Describe the main features of FASB Statement No. 52 and compare it with earlier standards
  • Present the translation methodology under IAS 21

Week 4


Module: Selected Financial Reporting and Disclosure Issues in the Global Context
Lecture: The General Price Level Adjusted Model Demonstrated

Outcomes

After completing this module, students should be able to:

  • Identify the effect of inflation on financial reporting, and discuss the two main inflation-adjusted accounting models
  • Examine the issues related to accounting for goodwill and other intangible assets, and discuss the main accounting approaches related to them
  • Highlight the costs and benefits of geographic segmental disclosure, and review the U.S. and international accounting standards on segmental reporting
  • Discuss the growing demand for social reporting, including employee and environmental disclosures

Week 5


Module: Using Corporate Financial Reporting Across Borders
Lecture: Not All Translated Financial Statements Are Created Equal

Outcomes

After completing this module, students should be able to:

  • Identify the different levels at which corporations respond to foreign financial statement users
  • Recognize how users cope with global diversity in financial reporting
  • Highlight the main issues that users need to consider in conducting international financial statement analysis

Week 6


Module: Financial Reporting in Emerging Financial Markets
Lecture: Beyond Adoption of Standards

Outcomes

After completing this module, students should be able to:

  • Provide an overview of the importance of emerging capital markets to developing countries
  • Identify qualitative criteria for evaluating financial reporting in emerging capital markets
  • Describe important policy issues related to enhancing financial reporting capability in emerging capital markets

Week 7


Module: Managerial Issues in International Accounting
Lecture: Choosing Projects Based on Net Present Value

Outcomes

After completing this module, students should be able to:

  • Describe budgeting and performance evaluation issues for international firms
  • Discuss global risk management tools and strategies, including multinational capital budgeting and foreign exchange risk management
  • Identify the main constituents of cross-border transfer pricing policies, define the transfer pricing methods, and consider the issues in devising a transfer pricing strategy
  • Describe the critical role of information technology systems in the effective recording, processing, and dissemination of financial and managerial accounting information

Week 8


Module: Attaining a Professional Understanding of Global Accounting and Financial Analysis Issues
Lecture: The Changing Nature of the Global Financial Reporting and Analysis Environment

Outcomes

After completing this module, students should be able to:

  • Discuss in detail the financial responsibilities of and issues faced by business professionals in the global arena
  • Find appropriate sources to answer financial questions faced by business professionals operating across national borders
  • Complete appropriate analysis and reports to answer financial questions faced by business professionals operating across national borders

The course description, objectives and learning outcomes are subject to change without notice based on enhancements made to the course. November 2013