The University of Southampton
Courses

MANG6025 International Accounting and Taxation

Module Overview

The module will provide students with an understanding of the nature of accounting practices and taxation of international activities. With respect to accounting it emphasises the importance of a country’s cultural, social, economic, legal and political environment in determining the nature of the rules and regulations which govern its financial reporting practices. In this respect, the problems of financial reporting diversity across countries as a result of the increasing internationalisation of business are explored. Attempts to harmonise/internationalise accounting practices by various international organisations are also examined. Aspects of multinational financial management are also examined. International transactions and organisations provide challenges for both mangers and tax authorities. Taxation can influence various aspects of an organisational including its structure, locations and internal management and control. In this context recent developments in international taxation will be examined.

Aims and Objectives

Module Aims

The aim of this module is to provide students with an understanding of the nature of accounting practices and taxation of international activities. With respect to accounting it emphasises the importance of a country’s cultural, social, economic, legal and political environment in determining the nature of the rules and regulations which govern its financial reporting practices. In this respect, the problems of financial reporting diversity across countries as a result of the increasing internationalisation of business are explored. Attempts to harmonise/internationalise accounting practices by various international organisations are also examined. Aspects of multinational financial management are also examined. International transactions and organisations provide challenges for both mangers and tax authorities. Taxation can influence various aspects of an organisational including its structure, locations and internal management and control. In this context recent developments in international taxation will be examined.

Learning Outcomes

Knowledge and Understanding

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

  • An appreciation of the differences in accounting systems worldwide;
  • Gained knowledge and insight into how social, economic and cultural factors lead to differences in accounting systems;
  • An understanding of the efforts being made to harmonise accounting systems;
  • An understanding of framework, theories and techniques of foreign exchange risk management;
  • An understanding of the potential influences of taxation and behavioural responses in an international context.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • Work as an effective member of a team;
  • Translate foreign financial statements into local currency using appropriate rates;
  • Calculate and decide the most cost effective way to hedge against foreign exchange risk;
  • Discuss the costs and benefits of International Accounting Standardisation;
  • Evaluate the tax implications of international transactions.
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • Problem solving;
  • Numeracy;
  • Written communication;
  • Working as a member of a team.

Syllabus

- 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

Learning and Teaching

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.

TypeHours
Independent Study126
Teaching24
Total study time150

Resources & Reading list

Lymer A & Oats L (2015). Taxation: Policy & Practice, 2016/2017. 

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

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

For library resources for Accounting and other management subjects.

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

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

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).

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

Accountingweb.

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).

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

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

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.

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

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

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

James S & Nobes C (2011). The Economics of Taxation. 

Accountancy Age.

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

Assessment

Formative

Written individual

Summative

MethodPercentage contribution
Examination  (2 hours) 70%
Group Presentations and Report  (2500 words) 30%

Repeat

MethodPercentage contribution
Examination  (2 hours) 100%

Referral

MethodPercentage contribution
Examination  (2 hours) 100%

Repeat Information

Repeat type: Internal & External

Costs

Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Textbooks

Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the core/ recommended text as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.

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