ACCT 670 Master Syllabus

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ACCT 670: International Accounting Master Syllabus

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Course Website: Canvas

Course Description

This course provides an overview of the broadly defined area of international accounting from a financial statement user perspective, focusing on accounting issues uniquely relevant to multinational corporations. 

Course Objectives

Upon successful completion of this course, students will have an understanding of: 

  1. The major factors that influence the development of national accounting systems and lead to diversity in financial reporting. 
  2. The consequences of diversity in accounting standards and company practices worldwide. 
  3. The arguments for and against international convergence of financial reporting standards and the current state of convergence efforts. 
  4. Certain differences between International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (GAAP) and their impact on financial statements. 
  5. The accounting implications of foreign currency transactions. 
  6. Re-measurement and translation of foreign currency financial statements and each method’s impact on financial statements. 
  7. The differences in taxation and auditing regimes across countries. 

MS in Accounting Program Learning Goals

  • Professional skills:  Our graduates will demonstrate professional skills necessary for success in the public accounting profession. 
    • Teaming & Leading - Our graduates will demonstrate the team leadership and interpersonal skills needed to form, lead, and work effectively in diverse organizational teams. 
    • Ethics and Professional Responsibility - Our graduates will understand the importance of ethical conduct and the regulatory environment of accounting. 
    • Professional Communications – Our graduates will communicate effectively to professional audiences in both written and oral forms. 
    • Analytical Decision Making - Our graduates will demonstrate analytical decision-making skills. 
    • Accounting Research - Our graduates will effectively conduct and communicate accounting research 
  • Technical skills and knowledge:  Our graduates will demonstrate and apply technical knowledge of accounting and auditing.
  • Global perspective: Our graduates will demonstrate an understanding of the role of accounting in the global business environment. 

Course Materials

REQUIRED:

  1. Material provided by instructor on Canvas
  2. Computer that meets the Costello College of Business minimum computing requirements.
  3. Simple four-function calculator 
  4. Case study “IFRS in China”, costs $4.25  

OPTIONAL: International Accounting 5e, Doupnik and Perera (McGraw Hill) 

Course Delivery

This is an in-person course. That means students are expected to attend weekly class inperson on the day/time stated on this syllabus. The in-person meetings will not be recorded for future viewing. 

Canvas
Course information and supporting materials are available through Canvas. Canvas includes all important announcements, the syllabus, lecture notes, practice problems, grades, and other relevant information.  Printed copies of lecture notes will not be provided, students should print these if they wish to use them during class. You should visit Canvas regularly for the latest information.  

Printed copies of lecture notes will not be provided, students should print these if they wish to use them during class. You should visit Canvas regularly for the latest information.  

Professionalism 
The classroom is a community, and we each bear responsibility for creating an environment conducive to learning. You will lose a portion of your final grade, at the instructor’s discretion, if you engage in behaviors that are deemed unprofessional. Some examples of unprofessional behaviors are overly casual or dismissive tone, and continual interruption.  

Student Responsibility for Learning 
The freedom and flexibility offered by higher education come with important responsibilities for the student. Be present in class, do not multitask. Stay organized and avoid procrastination with your coursework.  

Missed Class Policy 
If you miss a class for any reason, it is your responsibility to obtain the material and information covered in that class. You should connect with other students in the class to obtain the lecture notes or other class activities. After reviewing the material, please visit office hours or make an appointment with me to go over questions you may have. The policy for missed graded assignments and exams is included below. 

Technology Failures 
Please be flexible and understanding with respect to technology. Should you encounter technology issues during a graded assignment, provide as much detail/evidence as possible when making any request for accommodations. 

Grading

The grade you receive depends solely on your ability to demonstrate your mastery of the course materials. Grades will be assigned on the basis of the absolute number of points you earn during the semester. The Canvas grade book will keep track of your points earned in the class. Final letter grades will be available from Patriot Web.  

There are no “extra credit” assignments. Letter grades will be assigned based on total points earned as follows: A (90 – 100%), B+ (87 – 89%), B (80 – 86%), C+ (77 – 79%), C (70 – 76%), D (60 – 69%), and F (Below 60%). A- and B- grades may be assigned for borderline students at the instructor’s discretion. Assignments and their related points are as follows: 

Element Points Percent
Quizzes 45 12.5%
Midterm Exam 100 27.8%
Final Exam 120 33.3%
Homework Assignments 60 16.7%
Class Engagement 5 1.4%
Graduate Project 30 8.3%
Total Points 370 100,0%

Quizzes
There will be three quizzes during the semester; the quizzes will be announced in advance in-class and on Canvas; the tentative dates are included in the schedule at the end of this syllabus. The quizzes have lesser coverage than exams (usually 1 or 2 lectures) and they are designed to help students develop and apply their knowledge on topics that may be tested in an exam setting. All quizzes take place in-person during our assigned class time. You are expected to be present for all quizzes.  

Exams 
There will be a midterm exam (covering the material from the first six weeks of the course) and a comprehensive final exam, the dates of which are included in the schedule at the end of this syllabus. All exams take place in-person during our assigned class time. You are expected to be present for all examinations. 

Quiz and Exam Rules  
All quizzes and exams must be completed individually without the use of lecture notes, class materials, or any other resources. You are not allowed to communicate, in any form, with any other person while taking a quiz or exam. You are allowed to use a basic, four function calculator and scratch paper.

Quiz and Exam Make-up Policy 
If you have a justifiable conflict with taking a quiz or exam on a scheduled date, contact your professor in advance to schedule a make-up test. Quizzes and exams must be taken within a reasonable time (no more than 3 days after the scheduled date). It is the student’s responsibility to make arrangements for alternative test dates in advance. 

If an emergency arises that will prevent you from taking a scheduled quiz or exam, contact your professor as soon as possible and be prepared to provide acceptable, official documentation supporting your case. An unapproved absence will result in a grade of zero.  

Homework Assignments 
There will be homework assignments throughout the class that are intended to give students feedback on their understanding of the material prior to exams. The assignments and due dates will be announced in advance in-class and on Canvas. 

The nature and number of homework assignments will depend on our course progress. We typically have the following assignments: 

  1. One case study assignment - graded on both written communication skills and content. 
  2. One real-world application assignment - taking a concept from our class and applying it to a public company’s financial statements
  3. Two or three homework assignments - to give students experience with the types of problems that will be on the exams. 

Assignment Make-up Policy 
Assignments are always accepted before their due date. If you have a justifiable conflict with an assignment due date, contact your professor in advance to receive an approved extension. If you do not have an approved extension, you may still turn in an assignment after the due date, at a penalty of 25% each day late. 

Class Engagement 
Engagement = Preparation + Participation 
Participation in class is extremely important for several reasons. As your careers proceed, I believe that it will be necessary for you to have the ability and courage to express yourselves verbally. In addition, learning is enhanced by hearing, thinking about, and being challenged by different perspectives. 

In this course, students are expected to be present, prepared, and proactive in class discussions. Class engagement will be recorded regularly to reflect the quality of your contributions. Attendance is the bare minimum and will not receive full class participation credit. Only students with consistent and high-quality contributions to class discussion will receive full credit. Certain behaviors will detract from your class engagement grade (e.g. excessive unexcused absences or lateness, prolonged chattering, or other disruptive behavior). 

Guest Speakers: I try to arrange for guest speakers in our class. Students are expected to be present, actively engaged, and respectful of the professionals who visit the class. Being absent from a guest lecture will detract from your class engagement grade. 

Graduate Project 
The project will require students to research a topic of interest in international accounting, form an informed opinion, and express your evaluation of the issue in a written response document. Additional details about the assignment will be provided in the second half of the semester. The topic for this project is assigned by the instructor.  

Course Website

The course website is your online classroom. It is located in the university’s course management system, Canvas. Here you will perform many learning activities: see readings and assignments, interact with the instructor and your peers, work in groups, and much more.  To access your online classroom, follow these steps: 

  1. Type “mymason.gmu.edu” into your browser address line 
  2. Type your Username 
  3. Type your Password 
  4. Click Login.  
  5. New users see a Welcome page that invites them to create a profile. You can choose to create a profile later. 
  6. Existing users see the My Institution tab. 
  7. Click into the Courses tab to see your online courses for the term. 

When you are ready to leave the classroom, click the logout button in the upper-right corner of the screen.  

If Canvas is not functioning as expected, or you are unable to connect to Canvas or content within Canvas, email courses@gmu.edu for assistance.  

FASB Codification Website

The FASB website is your primary source for authoritative guidance for technical accounting research.  

  • Log into FASB codification.
    • Username – [student username] 
    • Password –[student password] 
  • Ensure that you can access the “professional view” (not the “basic view”), which will be required to complete the self-guided tutorial covered on the Midterm quiz. 
  • You may alternatively use Accounting Research Manager, which may be accessed through the George Mason library website.

Student Responsibilities

You are expected to have read the assigned chapters, watched the related guided example videos, and completed the online quizzes on the date of each class (Monday by 7pm). You are encouraged to complete all the “Now You Try” exercises in the assigned chapters, however, they will not be handed in. The amount of effort you put into studying the assigned materials will determine the quality of your responses to questions, as well as how much you learn about the course topics. I encourage you to not only read the assigned materials but to analyze them carefully. Think about each reading from both a conceptual and a practical perspective. 

Communication: Students must use their George Mason email accounts to receive important University information, including messages related to this class and correspondence with the instructor. See Masonlive to obtain your personal George Mason e-mail account. George Mason policy requires faculty to communicate exclusively through the George Mason email system. This means your instructor can respond to email from your Mason account only and cannot respond to emails you send from your personal or work email. The instructor will periodically send electronic messages to the entire class using the listserv formed by the MSA program or via the George Mason communication system. You are fully responsible for checking your e-mail regularly and for any information communicated to the class via e-mail. You should always feel free to communicate with the instructor via e-mail. 

I will try to respond to emails and questions within 24 hours during the work-week (Monday through Friday). Students who anticipate missing a deliverable due date for religious reasons should inform the instructor of their anticipated absences during the first two weeks of the module. You can find the University semester schedule and religious holidays at academic calendar and religious holiday calendar. If you have an emergency that precludes you from meeting any deadline, please inform me as soon as possible to schedule a make-up date.  You will also be required to provide documentation for why you were unable to complete the assignment by the due date.  If it is not an excused reason, you will receive a zero. There are very few excusable absences for assignments and even class.  Please plan ahead.

Proposed Schedule

Class Topic Due
1 Introduction to International Accounting 
Worldwide Accounting Diversity –Evidence of 		  
2 Worldwide Accounting Diversity –Reasons for   
  Last day to drop and receive 100% tuition refund  
3 Worldwide Accounting Diversity –Development of accounting systems Homework 1
4 QUIZ 
Worldwide Accounting Diversity –Convergence 		  
5 QUIZ 
Worldwide Accounting Diversity –US GAAP v IFRS		 Homework 2
6 QUIZ 
Worldwide Accounting Diversity –US GAAP v IFRS continued		  
7 MIDTERM EXAM  
8 The Global Economy & MNCs Homework 3
9 MNCs – Foreign Currency Transactions   
10 MNCs – Foreign Currency Transactions continued   
11 QUIZ 
MNCs – Hedging		 Homework 4
12 MNCs – Translation  
13 MNCs – Remeasurement Homework 5
14 International Tax & Audit Considerations Graduate Project
15 FINAL EXAM  

Readings and Assignments will be posted to Canvas in advance. 
The professor reserves the right to make changes to this schedule and syllabus with appropriate announcements in class and on Canvas. 

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