ACCT6362 - International Accounting

ACCT 6362 International Accounting (3 semester hours) Accounting and auditing functions and activities in various international environments are evaluated also in the context of international accounting and auditing harmonization. Causes of international differences and international classification efforts are examined. Comparison between International Financial Reporting Standards (IFRS) and prevailing US Accounting Principles (FASB) and contemplated convergence between the two systems are appraised. Accounting concepts, standards, methods and practices in foreign environments and their relationship to US accounting are assessed. Topics include foreign currency translation, consolidation, performance measurement of international entities, accounting for international operations, comparative accounting systems, transfer pricing and financial reporting of foreign and multinational corporations. Prerequisite: ACCT 6201 or equivalent or instructor consent. (3-0) Y