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Unit of Study

International Accounting
UoS Code ACCT6002
Credit points 6
Offered Semester 1, Summer School - December, Semester 2 and Winter School
Prerequisites ACCT5001
Assumed Knowledge
Additional Information This unit of study is being run by the Discipline of International Business. All enquiries should be directed to the Discipline of International Business.
Lectures Intensive - Summer and Winter School sessions, Normal semester 1 x 1hr lecture and 1 x 2hr tutorial per week.
Assessment individual assignments (28%), group assignments (22%), and final examinations (50%)
Description Many of the topics in an international accounting unit have a domestic counterpart. However, new factors and complications arise in the international arena. Some of these are (1) diversity of laws, practices, customs, cultures, and competitive circumstances; and (2) risks associated with fluctuating exchange rates, differential rates of inflation, and unstable property rights. International accounting discusses issues from the perspective of companies that have internationalised their finance and/or their operations. It has a comparative aspect, comparing accounting across countries. It deals with corporate reporting and disclosure across national boundaries. It also deals with the harmonisation of the worldwide diversity in financial reporting, in particular, convergence around International Financial Reporting Standards. It discusses foreign currency translation, a consolidations issue that arises from multinational operations. Finally, it aims to introduce the key issues relevant for undertaking cross-border analysis of financial statements.