International Accounting
| Numbering Code | P-MGT75 60098 LE44 | Year/Term | 2022 ・ Intensive, First semester | |
|---|---|---|---|---|
| Number of Credits | 2 | Course Type | Lecture | |
| Target Year | Target Student | |||
| Language | English | Day/Period | Intensive | |
| Instructor name |
SAWABE NORIO (Graduate School of Management Professor) TAKINISHI ATSUKO (Part-time Lecturer) |
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| Outline and Purpose of the Course | According to IFRS Foundation's survey, more than 140 jurisdictions in the world require all or most listed companies to use International Financial Reporting Standards (IFRS). In such new trend of the accounting environment, the understanding of so-called "global accounting standards" and the effects of the use of these standards is important. This course is designed to learn (1) the history and the development of International Accounting Standards (IAS) and IFRS, (2) the roles of the standard-setters of these accounting standards, and (3) the economic consequences of the adoption of these standards. Effects of IFRS adoption to listed companies and the disclosed accounting information are examples of such economic consequences. | |||
| Course Goals | The goal of this course is to understand (1) the purpose for creating so-called global accounting standards, and (2) the benefits and costs of the use of these accounting standards. In the learning process, you will have the deep understanding of the history and the development of IAS and IFRS, the roles of the standard-setters of these accounting standards, and the economic consequences of the adoption of these standards. | |||
| Schedule and Contents |
Day 1 (1) The Role of Accounting and Accounting in Action (2) Selections of Accounting Standards (3) Global Accounting Standards for Global Markets Day 2 (4) The History and the Development of IAS and IFRS (5) Accounting Standards and the Regulators (6) Economic Consequences of the IFRS Adoption: Summary Day 3 (7) A Principles-Based Accounting System (8) The Principles-Based and the Rules-Based (9) The Principles-Based and the Rules-Based Day 4 (10) IFRS-Adopting Companies and Accounting Disclosure (11) IFRS-Adopting Companies and Accounting Disclosure (12) IFRS-Adopting Companies and Investments Day 5 (13) Standard-Setting Process (14) Wrapping-up (15) The Final Exam and Feedbacks Considering the class progress, the schedule above can be modified. |
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| Evaluation Methods and Policy |
(1) Class contribution in discussion: 10% (2) Short-presentation: 20% (3) In-class assignments: 30% (4) The final exam: 40% |
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| Course Requirements | Prerequisites: General understanding of business and management | |||
| Study outside of Class (preparation and review) | Reading the class material which are schedule to be discussed in the class in advance is required. Around one-two hours are estimated to prepare for each session. Preparation for about 15 minute presentation is needed outside classroom hours. The presentation will cover some parts of the class materials provided in the course. | |||
| Textbooks | Textbooks/References | The class material such as articles and papers will be available on KULASIS. You are required to read all of them in advance before Day 1 of this course. | ||
| References, etc. |
None. |
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