Grade "A+" Accredited by NAAC with a CGPA of 3.46
To develop skill and competencies of various practices in the International Accounting and Reporting Systems. A comparative perspective of the accounting standards and practices across the different countries is the focus of the study.
At the end of the course, students should be able to:
Unit I (3 Weeks)
Global accounting standard: Meaning, needs, benefits of accounting standards, types of accounting standards, Argument for and against Global accounting standards, Concept of Harmonization and Convergence, Obstacles in Harmonization and Convergence, Suggestions for increased convergence and harmonization.
Reference:
Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall (Chapter 1)
Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley. (Chapter 1, 7)
Frederick, D.S. Choi and G. K. Meek, International Accounting, 7th ed., Prentice Hall (Chapter 1,2)
Unit II (3 Weeks)
International Accounting Standard Committee (IASC): Objectives, Working, Composition of IASC, Reasons of Failure of IASC, IAS-I (Presentation of Financial Statements), Process of developing International Accounting Standards. International Accounting Standard Board (IASB): Creation of IASB, Organizational Structure, Standard Setting Procedures, enforcement powers of IASB and Achievements of IASB.
Reference:
Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall (Chapter 6)
www.iasplus.com
Unit III (3 Weeks)
International Financial Reporting Standards (IFRS): Main feature, Uses and objectives of IFRS, IFRS issued by IASB, Principle based vs. Rule based standards, Fair Value Accounting (FVA), Public sector and IFRS.
Reference:
Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall
Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley. (Chapter 2, 7)
www.iasplus.com
Unit IV (3 Weeks)
A Comparative Perspective of Accounting: Accounting Standards & Practices in Europe, USA, Asia and UK, Reporting & Disclosure Practices across countries, Global Accounting Standards and International Convergence.
Reference:
Frederick, D.S. Choi and G. Mueller, International Accounting, Englewood Cliffs. 2nd ed., Prentice Hall (Chapter 3)
Radebaugh, Lee H., Gray, Sidney J. & Black, Ervin L.: International Accounting and Multinational Enterprises, 6th ed., Wiley. (Chapter 3,4)
Miller Paul B.W and Bahnson, Paul R.: Quality Financial Reporting, 1st ed., Tata McGraw Hill. (Chapter 3,4,14,15)
Frederick, D.S. Choi and G. K. Meek, International Accounting, 7th ed., Prentice Hall (Chapter 3,4,5,8)
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