COURSE DESCRIPTION: Examination of international standards and practices that have resulted from differing economic, social, political, and legal environments.  Prerequisite:  ACCT 252 or consent of instructor.

COURSE OBJECTIVES: Dr. Gary Meek, one of the textbook authors, points out that many of the topics in this course have US counterparts but that additional factors and complications arise in the international arena.  These include (1) diversity of laws, practices, customs, cultures, and competitive circumstances;  (2) risks associated with fluctuating exchange rates, differential rates of inflation, and unstable property rights;  and (3) variations in taxes and tax rates.  Because the course considers how accounting adapts to these conditions, international accounting has been described as the ultimate accounting theory course.  At the conclusion of the course, you should be able to discuss (1) business issues from the perspective of companies that have internationalized their operations, (2) harmonization of the worldwide diversity in financial reporting standards, and (3) significant issues in international accounting. 

EXAMINATIONS: There will be two regular exams and a comprehensive final. Exams will cover lecture material, material from the textbook, and guest speakers' presentations.  They are closed-book, closed-notes.  It is important to contact the instructor as soon as possible to discuss your grade computation should you have to miss an examination for health or family emergency reasons or for university-sponsored events.

When objective questions are used, no credit will be given for answers marked correctly on the exam but incorrectly on the answer sheet.  Transfer all answers carefully.

ORAL PRESENTATION (20 points): You will present in class a critique of the informativeness of an annual report from a non-US, non-Canadian corporation.   Because more and more companies outside the US are using International Accounting Standards (IAS) promulgated by the International Accounting Standards Board (IASB), it is increasingly difficult to obtain statements from companies using principles that differ greatly from US practices, but you are encouraged to attempt to do so.  Nevertheless, reports in IAS are acceptable.

You should evaluate the quality of the information provided from the perspective of a potential investor.  That is, you should discuss the strengths and weaknesses of the annual report as to whether it provides relevant and reliable information to investors.  You should also include some background on the company and the GAAP of its home country. 

You must obtain and turn in the original, hardcopy version of the annual report, not the online version--therefore, you must write to the company immediately because it may take about a month to receive the report.  Write to the director of shareholder relations of at least three companies from the same country to be sure you hear from at least one.  (Addresses are available from Moody's International Manual in the Reference section of Branson Library or online from links such as the Forbes and Fortune lists at the top of this syllabus and some of the links listed on pp. 364-365 of the Choi textbook;  take your letter to the Post Office and pay for postage there if you're not sure how much postage it will take.)

Grading of your oral report will be based on its content and your speaking effectiveness, including clarity of presentation, eye contact with all sectors of the audience, and lack of reliance on notes.  (No more than half credit (10 points) can be earned if it appears you are reading your report.)  It is better to omit something from your presentation than to say things that you don't understand.  Come in for help on technical accounting issues that you encounter in your analysis.  If you wish to use PowerPoint or overhead transparencies, remember that these tools are usually for the convenience of the presenter rather than the audience.  Imagine yourself in the place of the audience and don't let visual "aids" detract from your presentation.  (See http://www.norvig.com/Gettysburg/ for an example.)

WRITTEN SUMMARY (20 points):  At the conclusion of your oral presentation, turn in a one-page word-processed summary of the presentation and turn in the annual report.  Your summary should be single-spaced in 12-point font with reasonable margins.   There will be a two-point penalty for each page or portion of a page beyond one.  This summary should not contain errors mentioned at the Tips link that appears just before the class schedule at the end of this syllabus. 

EVALUATION: Your grade will be based on the total number of points that you earn during the semester. The points associated with each of the graded areas and the total points required to earn the various grades are shown below.  The instructor reserves the right to relax the borderlines and to make judgment calls at the end of the semester.

 

Component  Points  Regular exams (2 @ 100 pts)   200  Comprehensive final  100 Oral presentation      20 Written company summary      20 Total Points   340

A (Excellent, distinguished)  306-340 points  B (Very good, above average)  272-305 points  C (Average, normal) 238-271 points  D (Below average) 204-237 points  F (Failing)      0-203 points

ADMINISTRATIVE NOTES AND ADVICE:

It will be assumed that you are aware of all material covered and all announcements made in class.  Should you ever have to miss a class, be sure to obtain this information from a classmate. 

It is university policy that "Students making satisfactory progress in their classes will be excused from classes when they are representing New Mexico State University on a university sponsored event (e.g., ASNMSU President represents NMSU at legislative session, student-athletes competing in NMSU scheduled athletic events or education field trips and conferences). Authorized absences do not relieve the student of class responsibilities. Prior written notice of the authorized absence should be provided to the instructor by the sponsoring department."

A grade of "I" (Incomplete) will be assigned only in circumstances in agreement with the current NMSU Undergraduate Catalog.

Should you ever wish to file a grievance with some administrative office or faculty member on campus, check the details of the process in the "General Information" section of the Undergraduate Catalog.  Probably the most important thing for you to know about a grade appeal (besides the fact that there is an appeals process) is that you must initiate the process by submitting a written appeal to the faculty member within 30 days of the start of the term following the term in which the grievance occurred.

In any course, always keep any graded assignments or exams that are handed back to you in case the instructor fails to record any of them.

Student misconduct is extremely rare in this course;  in the unlikely event there is a problem, it will be handled in accordance with the Student Handbook.

If you are taking this course under the S/U option, you must earn a "C" or better ("B" or better if you are a graduate student) to receive a grade of "S."

If you have, or believe you may have, a disability that interferes with your academic progress, you are encouraged to contact Services for Students with Disabilities at 646-6840 for an appointment.  Feel free to drop by their office, Garcia Annex 102.  Discuss with them any documentation you will need to receive services.  If you have already registered, please make sure that your instructors receive a copy of the accommodation memorandum from SSD within the first two weeks of classes.  No student is given accommodations for disabilities unless SSD has requested these specific accommodations for the student.  It is your responsibility to inform either your instructors or SSD representative in a timely manner if services/accommodations provided are not meeting your needs.

If you have a condition that may affect your ability to exit safely from the premises in an emergency or that may cause an emergency during class, you are encouraged to discuss any concerns with the Instructor.

Student Responsibilities:

1. Register with SSD and obtain accommodation documents early in the semester;
2. Deliver the completed accommodation and testing form(s) to the instructor(s) within the first two weeks of beginning of classes (or within one week of the date services are to commence);
3. Retrieve the signed form(s) from faculty and return to SSD within five (5) days of receipt from faculty and at least one week before any scheduled exam; and,
4. Contact the SSD Office if the services/accommodations requested are not being provided, not meeting your needs, or if additional accommodations are needed. Do not wait until you receive a failing grade. Retroactive accommodations cannot be considered.

Faculty Responsibilities:

1. Sign the ACCOMMODATION REQUEST FORM and TESTING ACCOMMODATION FORM (when presented), retain a copy, and return the original to the student within five (5) working days of receipt;
2. Contact SSD immediately if there are any questions or disputes regarding accommodation(s), disruptive behavior, etc.; and,
3. Refer the student to SSD for any additional accommodations.

Accommodations: SSD Office, 646-6840 (Garcia Annex, Rm 102) Michael Armendariz

Discrimination: EEO/ADA & Employee Relations, 646-3333 (Hadley Hall, 15) Elva Telles

All medical information will be treated confidentially.

Many accounting and BCS students have found that interning under the cooperative education (CO-OP) program is a valuable activity that sets them apart from students without practical experience.  Some employers hire almost exclusively from their internship program.  Contact the Co-op office in Garcia Annex (646-4115), visit with Celina Talamantes in the Advising Center in Guthrie Hall, and frequently check the NMSU web page links to the placement and co-op offices.

When researcher Richard Light interviewed 1,600 students at Harvard and more than 20 other higher education institutions and asked them to describe a specific, critical incident or moment that changed them profoundly, 80 percent of them chose a situation or event outside the classroom.  The evidence indicates that learning outside the classroom, especially in residential settings and extracurricular activities, is critical.

Also keep in mind that prime interviewing season for permanent positions is the fall.  Whether you are graduating in December or May, register with Placement and interview diligently in your last fall semester.  In addition to a good academic record, abilities and experiences that make you a more desirable candidate in the eyes of interviewers include computer skills, oral and written communication skills, at least one internship or comparable work experience, at least one elected office in a campus organization, student membership in a professional organization such as the AICPA (see links to student pages of this and other organizations on the instructor's home page), and fluency in a language in addition to English.

Make sure your resume has been critiqued and that you have gone through at least one simulated interview at the Placement office.  Interview "performance" is crucial to your chances for success.  Most resume readers prefer a concise, "bullet-point" format

Never take too many courses.  A course load of 16 credits during the regular semester should require 16 hours of class time plus a minimum of 32 hours of preparation time per week, for a total of 48 hours.  Add a 20-hour-per-week job on top of that and you have a 68-hour work week, which is a recipe for burnout.  A course load of just 3 credits in a summer session is significant if you have other major responsibilities.  Keep this in mind when taking on other commitments and when scheduling your courses.

 

Jan 23	Last day to add a course and, for graduating seniors, to submit degree application
Mar 11	Last day to drop a course with a "W"
Mar 17	Last day to resolve final exam overload (see inside back page of NMSU Schedule of Classes)
Apr  22	Last day to withdraw from the university (not as drastic as it sounds)

COMMUNICATION SKILLS:

For any assignments that involve writing, refer to the web page, Tips on Business Writing.

 

Class Schedule Subject to Change as Needed (especially to fit guest speakers' schedules)
Day	Date	Topic	Chapter
1	01/15	Intro to policies, standards, etc.	Syllabus
2	01/20	Intro to international accounting	1
3	01/22	Intro to international accounting	1
4	01/27	Development and classification	2
5	01/29	Development and classification	2
6	02/03	Comparative accounting--basic principles;  France, Germany	3
7	02/05	Comparative accounting--Japan, Netherlands, UK, US	3
8	02/10	Comparative accounting--developing nations	4
9	02/12	Comparative accounting--developing nations	4
10	02/17	Reporting and disclosure	5
11	02/19	Reporting and disclosure	5
12	02/24	Exam I (Chapters 1 - 5)  Bring Scantron Mini Essay Book
13	02/26	Foreign currency translation	6
14	03/02	Foreign currency translation	6
15	03/04	Foreign currency translation	6
16	03/09	Accounting for changing prices	7
17	03/11	Accounting for changing prices	7
18	03/16	Accounting for changing prices	7
19	03/18	International standards harmonization	8
20	03/30	International standards harmonization	8
21	04/01	International financial statement analysis	9
22	04/06	International financial statement analysis	9
23	04/08	Exam II (Chapters 6 - 9) Bring Scantron Mini Essay Book
24	04/13	Guest speaker, Bernadette Legarreta, Managerial planning and control	10
25	04/15	Managerial planning and control; Financial risk management	10, 11
26	04/20	Guest speaker, Nathan Hirschi, KPMG, What It's Like to Work in International Accounting in Another Country
27	04/22	Guest speaker, Raul Prieto, Wiener Strickler, LLP, International taxation and transfer pricing	12
28	04/27	International taxation and transfer pricing	12
29	04/29	Student reports--European companies
30	05/04	Student reports--European companies and Asian companies
31	05/06	Student reports--Asian companies and Latin American companies
32	05/11	Final exam (comprehensive): 10:30 a.m. -12:30 p.m. Bring Scantron Mini Essay Book