International Accounting and Reporting System

Course ID
MDG 505
Level
Undergraduate
Program
BMS
Semester
Fifth
Credits
6.0
Paper Type
DSE – Global Business
Method
Lecture & Tutorial

Unique Paper Code: 61017921

To develop skill and competencies of various practices in the International Accounting and Reporting Systems. A comparative perspective of the accounting standards and practices across the different countries is the focus of the study.

Learning Outcomes:

At the end of the course, students should be able to:

  • Understand global accounting standards and the need for harmonization and convergence of accounting standards.
  • Appreciate the role of different accounting bodies in contributing to international accounting and reporting system.
  • Comprehend various technical aspects associated with International Financial Reporting Standards.
  • Compare the accounting standards and practices used globally.

Course Contents

Unit I
Unit II
Unit III
Unit IV

Unit I (3 Weeks)

Global accounting standard: Meaning, needs, benefits of accounting standards, types of accounting standards, Argument for and against Global accounting standards, Concept of Harmonization and Convergence, Obstacles in Harmonization and Convergence, Suggestions for increased convergence and harmonization.

Reference:

Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall (Chapter 1)

Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley. (Chapter 1, 7)

Frederick, D.S. Choi and G. K. Meek, International Accounting, 7th ed., Prentice Hall (Chapter 1,2)

Unit II (3 Weeks)

International Accounting Standard Committee (IASC): Objectives, Working, Composition of IASC, Reasons of Failure of IASC, IAS-I (Presentation of Financial Statements), Process of developing International Accounting Standards. International Accounting Standard Board (IASB): Creation of IASB, Organizational Structure, Standard Setting Procedures, enforcement powers of IASB and Achievements of IASB.

Reference:

Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall (Chapter 6)
www.iasplus.com

Unit III (3 Weeks)

International Financial Reporting Standards (IFRS): Main feature, Uses and objectives of IFRS, IFRS issued by IASB, Principle based vs. Rule based standards, Fair Value Accounting (FVA), Public sector and IFRS.

Reference:

Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall

Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley. (Chapter 2, 7)
www.iasplus.com

Unit IV (3 Weeks)

A Comparative Perspective of Accounting: Accounting Standards & Practices in Europe, USA, Asia and UK, Reporting & Disclosure Practices across countries, Global Accounting Standards and International Convergence.

Reference:

Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall (Chapter 3)

Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley. (Chapter 3,4)

Miller Paul B.W and Bahnson, Paul R.: Quality Financial Reporting, 1st ed., Tata McGraw Hill. (Chapter 3,4,14,15)

Frederick, D.S. Choi and G. K. Meek, International Accounting, 7th ed., Prentice Hall (Chapter 3,4,5,8)

Additional Information

Text Books


Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 7th ed., Prentice Hall
Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley.
Miller Paul B.W and Bahnson, Paul R.: Quality Financial Reporting, 1st ed., Tata McGraw Hill.

Additional Readings


Evans, Thomas G., Taylor, Martin E. and Holzman Oscar: International Accounting and Reporting. New York, 2nd ed., Macmillan.

Teaching Learning Process

Lecture, discussion, PowerPoint presentation, reference to annual reports and financial reports of companies.

Assessment Methods

Internal Assessment: 25 marks
Written Theory Exam: 75 marks

Keywords

Accounting standards, harmonization, convergence, IASB, IFRS, FVA.

Disclaimer: Details on this page are subject to change as per University of Delhi guidelines. For latest update in this regard please refer to the University of Delhi website here.

judi slot online Capsa Susun Bandar Ceme Online Terpercaya agen ion casino ionclub Slot Online idn poker sbobet casino slot online https://run3-game.net/