1. International accounting
Introduction

2. Overview
Since World War II that international trade has increased significantly, and many more goods and services are becoming part of a global economy. Dramatic changes occurring in recent times have allowed a global economy to become a reality for an increasing number of entities. The restructuring of Eastern Europe and the former Soviet Union has opened the door for free enterprise. The growth of the European Union has been responsible for reducing the economic barriers between nations by forming a single market not only are goods and services trading in international markets but also the securities of the companies involved. International securities trading has increased rapidly due to a number of forces. As companies expand into different international markets, they need to acquire the factors of production in those markets and, thus, need to raise additional capital. For example, the construction of a new manufacturing facility in France requires French francs to pay for the construction and other operating costs. International securities trading also offers investors the opportunity to diversify their portfolios against loss from currency fluctuations, political instabilities, and economic downturns

3. Course Learning Outcomes
Describe how the enhancing world environment is leading to an increased focus on international accounting standards.
Understand some of foreign currency transaction.
Understand the use of forward contracts as a hedge of an unrecognized firm commitment.
Understand the objectives of financial statement translation.
Compare the two methods used to convert the financial statement of a foreign entity into domestic currency.
Understand the needs for disaggregated data.
Describe the basic requirements of public companies in reporting segmental data.
Identify the information to be reported for each reportable segment.

4. Covered topics
Topic 1: Introduction: Historical Perspective And Contemporary Perspective. Topic 2: Development and Classification Topic 3: Comparative Accounting: Europe Topic 4: Comparative Accounting: The Americas And Asia Topic 5: Reporting and Disclosure Topic 6: Foreign Currency Translation Topic 7: Financial Reporting and Changing Prices Topic 8: Managerial Planning and Control Topic 9: Financial Risk Management Topic 10: International Taxation and Transfer Pricing

5. Movies to discuss
Inside Job Trillion Dollar Bet Floored Wall Street Warriors The Corporation

6. Movies to discuss Enron: The Smartest Guys in the Room
The Ascent of Money
Capitalism: A Love Story
Why Are We All in Debt?

7. References
Main References: Choi, Frederick D., and Gary K. Meek. International accounting. Pearson Higher Ed, Debra C. Jeter, Paul K. Chaney. Advanced accounting. Wiley Higher Ed, 2016 Additional advised references: International Accounting and Multinational Enterprises, 6th Edition Lee H. Radebaugh, Sidney J. Gray, Ervin L. Black Applying International Financial Reporting Standards Enhanced Edition Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford, Victoria Wise Advanced Accounting, 13/e Beams, Clement, Anthony & Lowensohn 2018 | Prentice Hall

8. Evaluation Assignments and homework 20 Points. Mid Term Exam 30 Points
Final Exam Points