International Accounting and Analysis

 

Instructor:

Leevik Yulia S., Candidate of Science (Economics), Associate Professor, Department of Finance, High School of Economics
email: leevik@gsom.pu.ru

Workload:

6 ECTS

45 contact hours

Prerequisites:

No prerequisites

Course Description:

The core objective of the course is to sensitize students to the international dimensions of accounting, financial reporting and financial analysis. The world in which they will pursue their professional careers is a world dominated by global business and investment decisions. As most of these decisions are premised on financial data, knowledge of international accounting is crucial for achieving proper understanding of international business and financial communications. Accounting amounts may vary substantially according to the principles that govern them. Financial statements and other disclosures are impossible to understand without an awareness of the underlying accounting principles and business culture. It is also very important to be able to analyze and make decisions concerning profitability, operational and financial activity of a company on the base of financial statements..

On completion of this course students should be able to:
• have an idea about the place and the role of financial accounting in the system of management of the economic entity;
• understand the conceptual framework of accounting and the purpose, structure and content of the financial reporting in the modern market economy;
• understand the essence of accounting terms and to use them properly;
• have basic practical skills in financial reporting and interpreting accounting information under International Financial Reporting Standards.

Course Content (Topics and subtopics):

Topic 1. Financial statements and Business Decisions 

1.1. The accounting system
1.2. The Balance Sheet
1.3. The Income Statement
1.4. Statement of Stockholders’ Equity
1.5. Statement of Cash Flows
1.6. Relationships among statements
1.7. Responsibilities for the accounting communication process

Topic 2. Investing and Financing Decisions and the Accounting System

2.1. Overview of accounting concepts
2.2. Nature of business transactions
2.3. Accounts
2.4. Transaction analysis and accounting entries

Topic 3. Operating Decisions and the Accounting System

3.1. The operating cycle
3.2. Accrual accounting
3.3. Transaction Analysis Rules

Topic 4. Adjustments, Financial Statements, and the Quality of Earnings

4.1. Accounting cycle
4.2. Purpose and types of adjustments
4.3. Adjustment process
4.4. Preparing financial statements
4.5. End of accounting cycle

Topic 5. Communicating and Interpreting Accounting Information

5.1. Players in the accounting communication process
5.2. The disclosure process
5.3. A closer look at financial statement formats and notes

Topic 6. Reporting and Interpreting Sales Revenue, Receivables, and Cash

6.1. Accounting for net sales revenue
6.2. Measuring and reporting receivables
6.3. Reporting cash

Topic 7. Reporting and Interpreting Cost of Goods Sold and Inventory

7.1. Nature of inventory and cost of goods sold
7.2. Inventory costing methods
7.3. Evaluating inventory management
7.4. Control of inventory

Topic 8. Reporting and Interpreting Property, Plant, and Equipment; Intangibles; and Natural Resources

8.1. Acquisition and maintenance of plant and equipment
8.2. Use, impairment, and disposal of plant and equipment
8.3. Intangible assets and natural resources

Topic 9. Reporting and Interpreting Liabilities

9.1. Liabilities defined and classified
9.2. Short-term liabilities
9.3. Long-term liabilities

Topic 10. Reporting and Interpreting Owners’ Equity

10.1. Ownership of a corporation
10.2. Common stock transactions
10.3. Dividends on common stock
10.4. Stock dividends and stock splits
10.4. Statement of changes in Stockholders’ Equity
10.5. Preferred stock

Topic 11. Statement of Cash Flows

11.1. Classifications of the statement of cash flows
11.2. Reporting and interpreting cash flows from operating activities
11.3. Reporting and interpreting cash flows from investing activities
11.4. Reporting and interpreting cash flows from financing activities
11.5. Additional disclosures

Course Organization:

Lectures and seminars, questions, tasks, case studies, tests, discussions, team project.

Course Reading (the full list):

Core reading:

  • Robert Libby, Patricia A. Libby, Daniel G. Short. Financial Accounting: 8th Global Edition. McGraw-Hill Education, 2014.

Supplementary reading:

  • Timothy Doupnik, Hector Perera. International Accounting: 4th International Edition. McGraw-Hill Education, 2015.

Exam format:

In-class
Duration: 90 minutes

Grading Policy (% or points):

Course progress – 40 %, exam – 60 %.

Assessment of academic progress:

Type

Weight in the course grade

Description

In-class questions, discussions, tasks and case studies

0,10 (10%)

Individual or in small groups, in-class, open book

Midterm test

0,15 (15%)

Individual, in-class, open book

Team Project

0,15 (15%)

In small groups, at home with follow-up in-class presentation, open book

Totally:

0,40 (40%)

 
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