ACCT 230 - International Accounting and Financial Reporting

Institution:

University of Pennsylvania

Subject:

Description:

Prerequisite(s): Accounting 101, 201, 202. The objectives of the course are to broaden the students' knowledge of how generally accepted accounting principles and financial reporting practices are developed and applied in the various countries, how the differences in principles and their application impact on financial statements and business decisions, and to enhance the students' ability to think through and resolve international accounting and financial reporting problems. Development of international accounting principles (the standard setting process) and comparative practices are reviewed at the outset of the course. This is followed by discussion and resolution of several technical subjects which are used as a vehicle for further consideration of comparative practices. Inflation accounting and foreign currency translation, two subjects of importance to international business, are treated. Subjects of a managerial nature (such as accounting for hedging transaction losses by using forward contracts, management control in the foreign environment, analysis of foreign financial statements, transfer pricing and international taxation) consume most of the second half of the course.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.upenn.edu

Phone Number:

(215) 898-5000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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