11/13/2017 International Financial Accounting and Policy International Financial Accounting and Policy Orientation Orientation Dinuka Perera Dinuka Perera ACA, ACMA (UK), CGMA, ACMA (SL), MBA (PIM - Sri J.) ACA, ACMA (UK), CGMA, ACMA (SL), MBA (PIM - Sri J.) Content Content • Aim of the Module • Intended Learning Outcomes – Knowledge – Competencies – Skills • Content of the Module • Learning Method • Assessment Method • Reading Materials 1
11/13/2017 Aim of the Module Aim of the Module • This his modu module le ai aims s to i o impa mpart – Knowledge – Competencies & – Skills – Relating to the development of international accounting and harmonization ideas – Emphasis on IFRS, CSR, and corporate governance practices around the world Intended Learning Outcomes • Know Knowle ledge ge – Understand why there is a worldwide diversity in financial reporting and an attempt at a global convergence of these practices – Articulate how IFRS-like practice becomes diffused and what elements become debatable – Interpret financial statements in relation to foreign currency translation and exchange rate implications – Analyse the impact of international taxation and transfer pricing practices – Debate the merits of the arguments for global convergence of financial reporting 2
11/13/2017 Intended Learning Outcomes • Compet petenci encies es – Refer to international developments in financial reporting when understanding and analysing financial statements – Relate this knowledge to case scenarios • Sk Skills ills – Lead any management related discussion based on international developments in financial reporting – Prepare suitable basic management reports reflecting such skills. Content Content of the Module of the Module • Worldwide accounting diversity and convergence –10% • IFRS practices and comparative accounting –30% • Foreign currency translations, exchange rates, and financial statements -20% • International taxation and transfer pricing –15% • International auditing, corporate governance, and CSR –20% • Use of scenarios in applying this knowledge –5% 3
11/13/2017 Learni Learning Method ng Method • Formal lectures • Formal contact hours: 45 hours • Notional hours: 120 hours Assess Ass essmen ment M t Method ethod • 25% - In-course assignment: 2500 –3000 word essay showing how international accounting knowledge is important for strategic decisions n business • 15% - Group presentations • 60% - Final unseen exam: 3-hour closed book exam 4
11/13/2017 Reading Materia Reading Materials • Timothy Doupnik and Hector Perera (2014) - International Accounting, McGraw-Hill Education. • Selected articles from – International Journal of Accounting and Financial Reporting – Managerial Auditing Journal – Accounting, Auditing and Accountability Journal Thank you! 5
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