International Accounting and Taxation

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Evaluate the tax implications of international transactions.
• Calculate and decide the most cost effective way to hedge against foreign exchange risk;
• B1.Translate foreign financial statements into local currency using appropriate rates;
• Discuss the costs and benefits of International Accounting Standardisation;

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• The impact of social, economic and cultural factors on accounting systems;
• the efforts being made to harmonise accounting systems;
• the differences in accounting systems worldwide;
• The potential influences of taxation and behavioural responses in an international context.
• The framework, theories and techniques of foreign exchange risk management;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Solve complex problems;
• Communicate complex ideas and arguments fluently and effectively in a range of different formats to a variety of different audiences.

• International Classification of Accounting Systems
• Comparative Accounting Systems
• International Standardisation of Accounting
• International Harmonisation of Accounting
• Segmental Reporting
• Foreign Currency Translation
• Introduction to International Financial Markets
• Taxation of corporate income
• Double Taxation at international level

Teaching and learning methods

This module is taught through lectures, and related seminar discussion groups. The lectures identify the key issues of the course which will be further explored in the seminars through classwork discussion.

Resources & Reading list

General Resources

CCH online. It contains UK accounting standards, international accounting standards, auditing standards, CCH UK GAAP Guide, Accountancy Magazine and company legislation

Nexis UK. This is a web-based service giving key business news and financial information on listed companies worldwide, and 250,000 unlisted companies in the UK. It is accessible from the library’s homepage (click on Subject support, Management, Databases and indexes).

Company websites. These include copies of the annual report, financial statements, and are likely to include other investor information, press releases etc.

FAME. It contains ten years' of detailed financial information on 2.6 million private and public companies in the UK and Ireland e.g. company profiles, profit and loss accounts, subsidiaries and directors and mergers and acquisitions information. It is accessible from the library’s homepage (click on Subject support, Management, Databases and indexes).

Quality daily and Sunday papers (in particular, the Financial Times). Newspaper

Blackboard webpage. There is a course Blackboard web page, and you should be registered for this automatically. The course is officially listed as International Accounting and Taxation. The web page will be used for unit information, announcements, e-mail and learning resources. Please refer to the blackboard web page frequently during the semester to access material as it becomes available.

Morningstar. The database contains information of UK's top 300,000 companies. View company fundamentals, including charts, ratios, latest news and director biographies.

Internet Resources

For library resources for Accounting and other management subjects.

Accountingweb.

Accountancy Age.

Textbooks

S.J. Gray, S.B. Salter and L.H. Radebaugh (2001). Global Accounting and Control: A Managerial Emphasis. Wiley & Sons Publication.

Miller and Oats (2016). Principles of International Taxation. Bloomberg Publishing.

F.D. Choi and G.K. Meek (2011). International Accounting: International Edition. Pearson International Edition.

C. W. Nobes and R. H. Parker (12th (The 10th and 11th editions will suffice)). Comparative International Accounting. Prentice Hall.

Lymer A & Oats L (2019). Taxation: Policy & Practice, 2019/2020. Fiscal Publications.

D Alexander & C Nobes (2007). Financial Accounting: An International Introduction. Prentice Hall.

James S & Nobes C (2019). The Economics of Taxation. Fiscal Publications.

C. Deegan and J. Unerman (2006). Financial Accounting Theory. McGraw-Hill.

S.J. Gray, L.H. Radebaugh and E.L. Black (2006). International Accounting and Multinational Enterprises. Wiley & Sons Publication.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External