International Accounting
Subject Overview
The first Accounting and Finance elective, covering international accounting concepts for multinational companies — accounting diversity and IFRS convergence, international taxation and transfer pricing, foreign currency translation and hedging, and a comparison of US GAAP and IFRS including ethical issues like window dressing. A 4-credit elective theory paper.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: International accounting diversity and IFRS
Worldwide accounting diversity, international convergence of financial reporting, causes of international differences, IFRS overview, nature and structure of the IASB/IFRSF
Unit 2: International taxation and consolidation
International transfer pricing, IFRS 10 consolidated financial statements, IAS 27 separate financial statements, IFRS 3 business combinations, IAS 28 investments in associates and joint ventures
Unit 3: Foreign currency and joint arrangements
IFRS 11 joint arrangements, IFRS 12 disclosure of interests in other entities, IAS 21 effects of changes in foreign exchange rates, foreign currency transactions and hedging foreign exchange risk, translation of foreign currency financial statements
Unit 4: MNC accounting issues and standards comparison
Strategic accounting issues in MNCs, international corporate social reporting, principal differences between US GAAP and IFRS, the road map for convergence, first-time adoption of IFRS, ethical issues in international accounting including window dressing