Management Accounting (BA2120)
- International accounting differences
- The possible causes of international differences in financial reporting
- International standards and EU laws.
- The different ways in which countries can adopt IFRS for various purposes, and the different ways in which IFRS financial statements can be prepared by companies.
- Financial reporting in the United States.
- Accounting in the world’s largest three economies after the US: China, Japan and Germany.
- How users of financial statements cope with international differences in accounting.
By the end of this module students should be able to:
- Outline the scale of international differences in financial reporting.
- Give examples of the differences, and why they are important.
- Summarise the likely causes of the differences.
- Explain how countries can be put into groups by similarities of accounting practices.
- Outline the main players in international harmonisation of accounting, and how successful they have been.
- Give examples of some IFRS accounting standards and their main instructions.
- Explain how IFRS options are chosen systematically differently in different countries.
- Outline the high-level differences between US GAAP and IFRS, giving examples of some detailed differences.
- Summarise how China, Germany and Japan have been affected by US and IFRS accounting.
- Explain how international investors might try to cope with accounting differences.
This module is assessed by a two hour unseen written examination.
- Comparative International Accounting (Nobes C. & Parker R.)