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ACC 525 International Accounting

Globalization expands the scope of accounting practices.

8 weeks

Technology and development have shrunk our world, making it easier than ever to expand business into other countries. Just as there are cultural adjustments to be made when operating around the globe, there are also differences between how accounting practices and principles are performed in the U.S. and how they are handled in other countries.

Your Flex Fit

Where does this course fall in your Flex curriculum?
ACC 525 is one of seven advanced courses offered within the Accounting specialization.

Course Overview

The international accounting environment is different from that in the U.S. Generally Accepted Accounting Principles (GAAP) are to the gold standard in the U.S., while most other industries countries follow the International Financial Reporting Standards (IFRS). In addition to differing standards, multinational companies are also faced with other challenges such as:

  • Issues related to international business activities
  • Foreign operations
  • International corporate governance
  • Strategic issues

To meet these challenges, an accountant or financial manager must master a number of practices in addition to accounting for international business.

  • Accounting control for the multinational enterprise
  • Global accounting theory and practice
  • Social accounting concepts
  • Foreign transactions
  • International financial reporting to investors

As you explore the diversity that exists in accounting internationally, you will understand the issues that arise from each country’s unique accounting approach and methods. You will also be introduced to the classification of countries along with a model to discuss accounting differences between such classifications.

What influence does culture have on financial reporting?

Explore this and more in ACC 525.

You will see how reporting according to International Financial Reporting Standards varies from work completed following GAAP standards in key areas.

  • Disclosure requirements
  • Measurement of assets
  • Liabilities
  • Provisions
  • Employee benefits
  • Income taxes
  • Share-based payment
  • Revenue
  • Financial instruments

You will become familiar with foreign currency transactions and learn hedging strategies that can mitigate foreign exchange risk. Problems associated with analyzing foreign financial statements will become apparent to you as you learn techniques to overcome them.

Sample Course Topics

  • Introduction to International Accounting
  • Worldwide Accounting Diversity
  • International Convergence of Financial Reporting
  • International Financial Reporting Standards
  • Foreign Currency Transactions and Hedging Foreign Exchange Risk
  • Analysis of Foreign Financial Statements
  • Comparative International Auditing and Corporate Governance

What You'll Learn

In an increasingly global economy, understanding how business and finance are conducted outside our borders is key.

  • Appreciate the major influences on international financial reporting standards (IFRS).
  • Propose the response to and explain the current status of the use of IFRS in the United States.
  • See the differences between US GAAP and IFRS and evaluate the impact of some of those differences on the financial statements.
  • Know how to analyze financial statements based on reporting standards other than US GAAP.
  • Gain insight into current ethical and corporate governance topics within the management accounting.
  • Understand some of the unique issues faced by multinational enterprises versus domestic enterprises in the areas of external reporting, auditing, and managerial accounting.
  • Know how accounting is performed (the profession, external reporting, management accounting, and auditing) in a country other than the United States.

Learn More

Multinational companies must be able to navigate through added layers of accounting issues. For more information about The University of Scranton’s online Master of Business Administration degree, request more information or call us today toll-free at (866) 373-9547.

The content presented on this page is representative information for example purposes and is subject to change as course and student needs change over time.