Authorised by Academic Registrar, April 1996
Objectives This subject aims at enlightening students about the variety in the accounting practices around the world and their implications for international business. On completion of the subject a student should be able to relate the differences in accounting rules and practices around the world with the underlying legal, economic and cultural variables of those countries; understand the role of various regulatory bodies involved in the process; better assess the implications of various fluctuations in the global financial markets on businesses; and operate as an efficient international accountant.
Synopsis The subject covers a range of areas, such as causes and effects of international differences in accounting, auditing and taxation rules and practices. It explores the accounting and reporting needs and dilemmas of Australian companies operating overseas as well as of foreign multinationals operating in Australia. Accounting practices of the UK, USA, Europe, Japan and the so called Asian `tiger' nations are analysed with their implications for Australian businesses. Role of the IASC, the UN and the IOSCO are also explored.
Assessment Tutorials and class tests: 20% + Assignment (2000-3000 words): 20% + Examination (3 hours): 60%