Units

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Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

As business and financial markets have become increasingly globalised, the significance of the differences in international accounting policies, and disclosure and reporting practices, has become more important, especially from the perspective of management, financial analysts and other users of financial statements. For these key interest groups, it is vital not only to be aware of international differences in accounting policies and practices, but also to be able to assess their impact on earnings and assets and key performance indicators and ratios, for example, return on assets. Additional key issues in globalised business operations relate to an understanding and appreciation of cultural diversity issues and alternative corporate strategy and governance models and the global trends in international taxation and international audit.

Aims

The study of international accounting is important since it provides pertinent information to decision makers in this age of global economy, helping them make resource allocation decisions that maximize the benefits to humankind. While international accounting was once a specialist field of inquiry, it is, today, an integral feature of the operations of global business and financial markets.
The aim of this unit is to:
- Provide you with an understanding of the unique financial reporting, auditing, taxation and corporate strategy and governance issues associated with global business operations;
- Assist you to identify and understand the motivations of the key national and international organisations that are involved in the process of creating a global set of international financial reporting standards;
- Develop the skills necessary to analyse, compare and contrast, and report on the performance levels of global corporations such as Petro-China, Wal-Mart, Coca-Cola, British Airways, Lufthansa and Japan Airlines;
- Allow you to appreciate the influence of culture on international accounting and business practices through the use of wide range of real-world cases; and
- Develop the knowledge and skills necessary for you to be culturally competent in the workplace.

Objectives

Course Learning Goals (Undergraduate)
The QUT Business School has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools.

Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context

Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue

Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences

Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output

Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding

The specific course learning goals that apply to this unit are shown in the assessment section of this unit outline.

Discipline Knowledge & Skills

On completion of this unit you should be able to:

1. Understand many of the accounting issues faced in an international business environment from the perspective of a manager or a user, free from cultural bias;
2. Appreciate the varying environmental and cultural influences an accounting development in a global context;
3. Analyse and provide strategies for dealing with international accounting issues;
4. Examine the importance of differences in international accounting policies and practices from the perspective of financial statement analysis; and
5. Apply this theoretical and technical knowledge of international accounting policy choices and practices to the interpretation and analysis of the external financial reports of leading international corporations

Content

This unit is designed to provide you with an insight into, and an appreciation of, many of the accounting problems and issues faced in an international business environment. Thus, the content examined includes issues based on a case study analysis, related to:

- the framework of financial reporting;
- comparative international accounting systems and practices across key cultural groupings;
- the influence of development factors and culture on accounting values, principles and practices;
- international financial reporting issues such as international harmonisation; international segment reporting; foreign currency transactions and hedging and comparative international analysis of financial statements; and
- international taxation planning and the claimed link with worldwide poverty.

Approaches to Teaching and Learning

Teaching and learning strategies are designed to encourage you to fulfill the aims and objectives of the unit as discussed above. Weekly lectures are used to provide a basic understanding of the issues, and this understanding will be developed through the use of workshop cases, in-class debates and presentations and an individual, cross-cultural project.

Assessment

The assessment in this unit aims to support your achievement of the learning objectives for both Discipline Knowledge and Other Graduate Capabilities. Assessment has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).Students will receive feedback in various forms throughout the semester which may include:

• Informal: worked examples, such as verbal feedback in class, personal consultation


• Formal: in writing, such as checklists (e.g. criteria sheets), written commentary


• Direct: to individual students, either in written form or in consultation


• Indirect: to the whole class

Assessment name: Decision Cases
Description: For each tutorial from week three there will be a decision/judgement-based case related to the tutorial topic for that week. Each week 2/3 students will work together to orally present opposing, debate-style arguments. The presentation should last for approximately 5 minutes - 10 minutes per student - and will be marked out of 8% by your tutor. In addition, your fellow students in the 'listening' audience, will also provide you with constructive peer feedback on your individual presentation quality. For those students not presenting each week (i.e. the 'listening' audience), the same tutorial, presentation case questions must be attempted at home with your answers then being bought along to the presentation each week. Your answers can then be expanded to include additional issues raised by the presenters and/or your tutor. Throughout the semester, tutors will randomly collect four of these presentation case responses at the completion of the presentation and the best three out of four will count towards the 12 marks.
Tutorials will commence in week two of the semester, while these presentations will start from week three and will run through to Week 13.
Approximate Due Date: At a Date of Your Choice
Internal or External: Internal
Group or Individual: Presentation/Group; Weekly Tutorial Work/Individual
Due Date: Date of your choice where possible
Relates to objectives: 1-5; and KS, CTA, PC, TW, SEU
Weight: 20%
Internal or external: Internal
Group or individual: Group
Due date: Date of your choice


Assessment name: Major Group Project
Description: This project of 1500 (+/- 10%) words involves an individual assignment which focuses on a comparative analysis of the key international accounting issues of: international accounting patterns, culture and development; corporate governance and control of global operations; international accounting standards and their global convergence; and currently controversial international accounting issues such as those related to goodwill and intangible assets. Within each group's project analysis, you will be required to overview the 2011/12 financial reports of three companies from different countries based across Anglo Saxon; Germanic/Latin; and Asian cultural grouping. Participating in the weekly decision cases and debates in the tutorials will greatly assist you with your preparation for this assessment task.
Internal or External: Internal
Group or Individual: Group
Relates to objectives: 1-5 and KS, CTA, TW, PC
Weight: 30%
Internal or external: Internal
Group or individual: Group
Due date: Week 10


Assessment name: End of Semester Examination
Description: This final examination of 2 hours and 10 minutes perusal will consist of theoretical questions and case studies. Detailed information will be provided closer to the examination

Internal or External:Internal
Group or Individual:Individual
Due Date:Central Exam Period
Relates to objectives: 1-5 and KS, CTA, SEU
Weight: 50%
Internal or external: Internal
Group or individual: Individual
Due date: Central Exam Period


Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Texts
Doupnik, T. and H. Perera (2011), International Accounting, 3rd ed., Boston, McGraw-Hill.

References
The following are useful references, including textbooks, journals and websites. Additional references can also be found at the unit's Blackboard site: http://blackboard.qut.edu.au

- Choi, F. and Meek, G. (2008) International Accounting (6th ed.) New Jersey, Pearson Educational International.
- Nobes, C. and Parker, R. (2008) Comparative International Accounting (10th ed.).Essex, England, Prentice Hall.
- Radebaugh, L. H., S. J. Gray, E.L. Black (2006), International Accounting and Multinational Enterprises, 6th ed., New York: Wiley.

Additional references in the form of current articles and country-based reports can also be found at the unit's Blackboard site.

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Risk assessment statement

There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the >Emergency video.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 24-Jan-2013