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, leverage and return on assets. Additional key issues in globalised business operations relate to an understanding and appreciation of alternate corporate strategy and governance models and the global trends in international taxation.

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 (Postgraduate)

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. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:

Course Learning Goals (Postgraduate)

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. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:

Have knowledge and skills pertinent to a particular discipline (KS)

1.1 Well-researched knowledge and critical understanding applied to issues at the forefront of a specialised discipline area
1.2 Ability to select and use effectively a range of tools and technologies to locate and/or generate information appropriate to the disciplinary context

Be critical thinkers and effective problem solvers (CTA)

2.1 Apply logical, critical and creative thinking and judgement to generate appropriate solutions to problems in the disciplinary context

Be professional communicators in an intercultural context (PC)

3.1 Ability to create and present professional documents and/or reports using high levels of analysis/synthesis/evaluation for a range of contexts and audiences
3.2 Ability to orally communicate and justify ideas and information, at a professional level, for a variety of contexts and audiences, including peers and discipline specialists

Be able to work effectively in a Team Environment (TW)

4.1 Operate effectively and with flexibility to achieve common goals in collaborative settings, using a range of skills, including leadership, negotiation, reflection, proactivity and support for team members

Have a Social and Ethical Understanding (SEU)

5.1 Apply knowledge of the ethical, social and cultural dimensions relevant to business situations, including appropriate standards or codes of practice, to provide courses of action

Unit Objectives
On completion of this unit you should be able to:

1. Understand the accounting issues faced in an international environment from the perspective of a manager or an investor
2. Appreciate the environmental and cultural influences on accounting development
3. Analyse and provide strategies for dealing with international accounting issues
4. Examine the differences in international accounting policies from the perspective of financial statement analysis
5. apply the theoretical and technical knowledge of international accounting policies and practices to the analysis of the external financial reports of leading multinational corporations

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

Content

This unit examines issues related to:

comparative international accounting systems and practices and the impact of development factors including culture

international harmonisation and disclosure trends including the global IFRS Convergence Project

international financial statement analysis which facilitates the comparative review of the performance levels of global corporations such as Petro-China, Wal-Mart, Coca-Cola, British Airways, Lufthansa and Japan Airlines

global issues for the twenty-first century related to: Foreign Currency; transactions and Hedging; Corporate Governance, Structure and Strategy; International Auditing; and International Taxation.

Details of the seminar schedule and readings for this unit will be provided in the Week One Document for this Unit.

Approaches to Teaching and Learning

Teaching and learning strategies are designed to encourage you to fulfil the aims and objectives of the unit as discussed above. Weekly seminars are used to provide a basic understanding of the issues.This unit will foster both critical inquiry and intellectual debate. An important component of the unit is a development of an understanding of the impacts of country-based development factors (e.g. legal, and econimic) and cultural issues on accounting policies and practices. The learning experiences will include important contemporary writings on controversial international accounting issues. The Osiris database and the Internet will be used to retrieve both financial statements and information about companies worldwide. This information will be used in groups to examine the importance of differences in international accounting from the perspective of financial statement analysis.

Assigned reading material will be distributed on a progressive basis throughout the semester. This unit will foster both critical enquiry and intellectual debate. By analysing and discussing the various problems, the students will broaden the scope of their analytical talents so relevant to the growing multinational business environment.

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:

- 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: Readings and Leadership Task
Description: Students will be assigned weekly readings and decision cases for their critical evaluation and presentation of summaries and decision case responses at the weekly seminar.
Length/Duration: To be advised
Formative or Summative: Formative and Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4, 5 and AOL goals: KS (1.1) CTA (2.1) PC (3.1) SEU (5.1)
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: Weekly

Assessment name: Major Group Project
Description: This project will focus on three companies chosen from across three key cultural groupings: Anglo-Saxon, Germanic/Latin and Asian. The study will include questions on cultural and environmental considerations, the differences in corporate earnings, assets and important ratios and the progress of the Global Convergence Project for International Financial Reporting Standards.
Length/Duration:
Formative or Summative: Formative and Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4, 5 and AOL goals: KS (1.1) CTA (2.1) PC (3.1) TW (4.1) SEU (5.1)
Weight: 25%
Internal or external: Internal
Group or individual: Group
Due date: Week 11

Assessment name: Final Exam
Description: The Final Examination will cover the material from weeks 1 to 13 and will consist of theoretical questions and case studies.
Length/Duration: 2 hours + 10 minutes perusal
Formative or Summative: Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4, 5 and AOL goals: KS (1.1) CTA (2.1) PC (3.1) SEU (5.1)
Weight: 55%
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

1: Weekly Readings:

Current, International Accounting, Foreign Currency Transactions/Hedging,Corporate Governance/Directors' Remuneration and International Taxation Articles


2: Prescribed Text

Nobes, C. W. and R. H. Parker (2012), Comparative International Accounting, 12 th Edition, New York: Prentice Hall.


Other References
The following are useful references:

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.

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

Radebaugh, L. H. & Gray, S. J. (2006) International Accounting and Multinational Enterprises (6th ed.). New York: Wiley.


Additional references in the form of current articles 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: 15-Feb-2013