60.650 International Accounting

International Accounting

Course Details
Min Credits 3
Max Credits 3
Course ID 37224
Status Active

This course integrates International Financial Reporting Standards (IFRS) into a financial accounting course and leverages comparisons between US GAAP and IFRS (the two most commonly applied sets of accounting standards in the world) to enhance the development of a "critical thinking" approach to financial accounting and reporting. The goal of the course it to enhance student understanding of the links between the underlying transactions, the application of reporting standards for those transactions, and the financial reports obtained from a global/international perspective. Accounting standards set in the US and internationally (US GAAP and IFRS) are guided by general concepts but the specifics of the standards, and national cultures across different countries and geographical areas. In this course, we will consider those differences to better understand both US GAAP and IFRS accounting standards and the financial reports produced by then. In addition, the course will provide students with a basic understanding of IFRS, a relatively new set of accounting standards gaining wide acceptance throughout the world and being considered for adoption within the US.

Pre/Co-Requisites: Pre-req: MSA or non-MSA students who have completed the prerequisite of 60.601.