International accounting can be viewed in terms of the accounting issues uniquely confronted by companies involved in international business. It also can be viewed more broadly as the study of how accounting is practiced in each and every country around the world, learning about and comparing the difference in financial reporting, taxation, and other accounting practices that exist across countries. More recently, international accounting has come to be viewed as the study of rules and regulations issued by international organizations most notably International Financial Reporting Standard (IFRS) issued by the International Accounting Standard Board (IASB). This book is designed to be used in a course that attempts to provide an overview of the broadly defined area of international accounting, but that focuses on the accounting issues related to international business activities and foreign operations and provides substantial coverage of the IASB and IFRS.
The unique benefits of this textbook include its up-to-date coverage of relevant material; extensive numerical examples provided in most chapters; two chapters devote to the application of International Financial Report Standards (IFRS); and coverage of nontraditional but important topics such as strategic accounting issues of multinational companies, international corporate governance, and corporate social reporting.
1. Introduction to International Accounting.
2. Worldwide Accounting Diversity.
3. International Convergence of Financial Reporting.
4. International Financial Reporting Standards: Part I.
5. International Financial Reporting Standards: Part II.
6. Comparative Accounting.
7. Foreign Currency Transactions and Hedging Foreign Exchange Risk.
8. Translation of Foreign Currency Financial Statements.
9. Additional Financial Reporting Issues.
10. Analysis of Foreign Financial Statements.
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