INTERNATIONAL MODULE
NAME: Gina Burke
COURSE TITLE AND NUMBER: ACCT 1020
MODULE TITLE: Introduction to International Accounting Concepts and Standards
DESCRIPTION OF MODULE
The module will help students in ACCT 1020 gain knowledge and understanding of
accounting systems and standards used in other countries and the cultural influences on
the systems and standards. Our US GAAP and FASB standards are not the only
accounting principles used internationally.
Objective 1:
Students in ACCT 1020 will develop greater knowledge of cultures other than their own
and the impact of diverse cultural perspectives on world events.
1a. (Knowledge) Students will increase their knowledge of cultures in the world around
them and how those cultures influence accounting systems and standards.
Objective 2:
Students will acquire increased understanding of international accounting standards.
2b. (Comprehension) Students will describe how the course-related international content
impacts their own occupational/professional development if they were to work in the area
of accounting.
Objective 3:
Students in internationalized classes will demonstrate an awareness and understanding of
the interdependence and consequences of international accounting systems and
standards.
3a. (Application) Students will recognize how events in other nations affect the United
States and how events in this country affect the accounting systems and standards of
other nations, including economic, political, and religious climates of other nations.
METHODOLOGY
This international module will be presented in week 10 of the semester or later at the
discretion of the instructor. International accounting systems and standards and cultures of
other countries will be discussed using Appendix D of the current Accounting Principles
textbook and the resources listed below. The instructor may add other resources.
Lectures/Discussions:
The instructor will present lectures on international accounting systems and standards and
the cultural influences that affect their development to serve as examples for the students’
presentations and to familiarize the students with international business terminology and
international standards.
The instructor will present handouts to describe the format to be used and the content to
be contained in the students’ written PowerPoint documents.
Readings:
Various periodicals such as the Journal of Accountancy and websites such as
http://www.ifrs.org and http://www.worldbusinessculture.com/ can be reviewed in the
research process.
Assignments:
Each student will compile a PowerPoint document covering a particular country and its
culture as it relates to the application of accounting systems and standards.
Evaluation:
The students will prepare a PowerPoint document based on the instructor’s lectures and
the student’s outside reading and research. The students will be graded on the content
and quality of their written PowerPoint document, including accuracy of information and
use of correct grammar.
Resources:
Warren, Reeve, Duchac, Accounting. 24th edition. South-Western Cengage Learning,
2012. Appendix D.
Radebaugh, Gray, Black, International Accounting and Multinational Enterprises. Third
Edition. John Wiley & Sons, 2006. (Chapters 2, 3, and 7)
The International Financial Reporting Standards website, http://www.ifrs.org.
International Committee Releases Draft Framework for Integrated Reporting,
http://www.journalofaccountancy.com, September 14, 2011.