AFC3220

International financial reporting

Dr Paul Mather

6 points · Two 1-hour lectures and one 1-hour tutorial per week · Second semester · Clayton · Prerequisite: AFC2120

Objectives On completion of this subject students should be able to understand the influence of culture and societal values on financial reporting and the different approaches used to classify accounting and reporting systems; compare and contrast the main international accounting systems and practices (such as Anglo-Saxon, Germanic, Latin and Asian systems and practices); critically evaluate the need for harmonisation of accounting standards and practices; understand the main international financial reporting issues, comparative national reporting practices and harmonisation initiatives, where applicable; analyse and interpret international financial reports and assess the impact of differences in accounting methods on their analysis; and identify the main issues arising in the audit of international operations and how the auditing profession deals with these issues.

Synopsis This subject aims to provide students with an understanding of the main issues in international financial reporting. Topics covered include the influence of culture and societal values on accounting development, the different approaches to classify accounting and reporting systems; the main international accounting systems and practices (such as Anglo-Saxon, Germanic, Latin and Asian systems and practices); the recent initiatives in the area of harmonisation of accounting standards and practices; the major international financial reporting issues; comparative national reporting practices; the analysis and interpretation of international financial statements; and the major issues in the audit of international operations and how the auditing profession deals with these issues.

Assessment Tutorial participation, presentations and other written: 30% · Examination (3 hours): 70%

Prescribed texts

Radenbaugh, L H and Gray S J International accounting and multinational enterprises Wiley, 1997

Back to the 1999 Business and Economics Handbook