International Accounting

Course Description

This course deals with how to prepare and issue international standards, the most important accounting standards related to international transactions and environmental and cultural factors, the study of foreign currency transactions and accounting for forward exchange contracts through the study of foreign exchange markets and accounting related problems. Different accounting methods for translation of financial statements and alternative approaches to determine conversion rates and factors affecting conversion rates. Also, the study of recent trends in international accounting such as contracts and other financial derivatives - contracts choices, future, swap contracts.

Course Aims

By the end of the course the student will be able to:

• Gaining scientific knowledge of the general framework of international accounting and the most important accounting standards related to international transactions.
• Acquisition of analytical skills by applying acquired theoretical concepts to a variety of practical cases.
• Knowledge of the theoretical and applied foundations and concepts of international transactions.
• Develop critical thinking skills by developing students' abilities to choose the appropriate accounting principles and rules for various international operations according to their nature.
• Develop students' skills in dealing with Internet networks through preparing research costs related to the subject of study.

Course Contents:

• The general framework for international accounting
• Accounting for foreign currency transactions
• Accounting for forward exchange contracts – covering foreign transactions
• Accounting for forward exchange contracts - for speculative purposes
• Translation of financial statements in foreign currency
• An international view of accounting in light of price changes
• International analysis rates

Course ID: ACCT431