May 22, 2024  
2018-2019 SGPP Catalog and Handbook 
2018-2019 SGPP Catalog and Handbook [ARCHIVED CATALOG]

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AC415 International Accounting (3 cr.)

Prerequisite(s): AC305 
This course examines the accounting and reporting issues of foreign owned operations faced by large international firms. Topics include the differences in the accounting principles followed in various countries, determination of the appropriate method to be used in translating and consolidating foreign owned entities with the parent organization, and the harmonization of accounting principles around the globe.

Upon completion of this course, students are expected to be able to do the following:

  1. Explain differing accounting principles followed around the world.
  2. Explain the pros and cons of one set of accounting standards to be used by all countries.
  3. Explore the differences and similarities between Generally Accepted Accounting Principles and International Financial Reporting Standards.
  4. Select the appropriate methods to be used in translating the financial statements of a foreign owned entity for consolidation with its parent organization.
  5. Explain translation, hedging, and transaction gains or losses inherent in foreign currency transactions.
  6. Summarize the basics of international transfer pricing and international taxation.
  7. Analyze financial statements of foreign entities.

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