consideration of the role played by financial accounting in the context of international business and the financial reporting and accounting complications caused by multinational business activities.
The aim of this Module is to provide the student with : The aim of this Module is to provide the student with the ability to critically evaluate and synthesise international financial accounting issues.
By the end of this module the student should be able to:
1. Critically evaluate financial accounting issues from the perspective of the multinational corporation;
2. assess financial reporting issues facing multinational corporations in the nation-state rules context;
3. critically appraise valuation concept in accounting
4. be able to prepare price-changes-adjusted financial statements
1 International Financial Reporting and Harmonisation
Drivers for international financial reporting; accounting as an international language of business; general financial reporting models; the process of harmonisation and the theory of international disclosure.
2 The Concept of Valuation in Accounting
Income measurement and capital maintenance; Income measurement under the conditions of certainty and uncertainty
3 Accounting for Changing Prices
Criticism against historical cost accounting; current purchasing power accounting; replacement cost accounting; realisable value accounting and current value accounting; fair value measurement and IFRS 13
4 Accounting treatments for Government Grants
5 Accounting treatments for pensions and foreign currency transactions.
6 Importance of Ethics to society, business and professional accountant
Nature of ethics and its application; importance of frameworks of regulations and accounting standards in business; different approaches to ethics; Ethics and ethical dilemmas in the accounting profession.
7 Corporate Governance, Disclosures and CSR
The role of corporate governance; the impact of corporate governance on management of corporations; the role of external and internal audit; the strategic and political perspectives of CSR; the role of CSR in corporate reporting
Teaching and Learning Work Loads
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SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.
Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.
We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2021/22 , and may be subject to change for future years.