UNIVERSITY OF ST. FRANCIS 

BSAD 494 – Topics - International Accounting  - 3 semester hours

Spring, 2004  MWF 8:00-8:50 Tower Hall N219

Instructor: Tony Zordan, D.B.A., CPA, MBA

Office: N222-D   815-740-3608

Home: 773-238-5558  (before 9 p.m. only)

Email: azordan@stfrancis.edu

Office hours: M 1:00-2:00; T 11:00-12:00, WF 9:00-10:00; R 8:30-9:30; Other times by appointment

Teaching hours: MWF 8:00-8:50 (N219), 10:00-11:50 (N218), TR 9:30-10:45 (N216)

Approximate on-campus hours: MWF 7:30-4:30, TR 8:30-4:30

COURSE PREREQUISITES:

BSAD 225 - Intermediate Accounting I

COURSE DESCRIPTION: Understanding international issues is critical to the education of an informed and competent business student. International accounting introduces and examines accounting issues unique to multinational enterprises and international business activity. We consider national differences in accounting systems, the significance of international business, foreign currency issues, and efforts to harmonize international accounting standards.

COURSE OBJECTIVES:

• To learn international accounting standards.
• To learn accounting practices in numerous countries outside the U.S. and compare those practices to U.S. generally accepted accounting principles.
• To develop the ability to think analytically and independently.
• To work effectively in teams.
• To improve communication skills.

REQUIRED MATERIALS:

• Radebaugh, L. H. & Gray S. J. (2002). International Accounting and Multinational Enterprises, 5e, Wiley: New York. ISBN: 0-471-31949-X
• One 2002 or 2003 annual report of a foreign company filing in the U.S. (English language version) or a Canadian company whether or not a U.S. filer and an annual report of a U.S. company in the same industry.
• One red pen or pencil.

• AICPA Professional Standards, AICPA
• "The Wall Street Journal"
• The Internet Guide for Accountants, Kogan, Sudit, Vasarhelyi, Prentice Hall, ISBN 0-13-270968-6.
• An Introduction to Applied Professional Research for Accountants, Ziebart, Prentice Hall, ISBN 0-13-755233-5

CLASS POLICY / FORMAT:

            The above objectives will be met through papers, projects, lectures, class presentations, discussions of text material and current events, problem solving, and examinations. I expect that you will have read the assigned material before class at least once. You should attempt to outline the chapter before class and then annotate your notes from the lecture material.

            Attendance is strongly recommended and is mandatory on the days tests are given. Excessive absences (>6, or two weeks of class) will affect your grade. Each absence above this number will reduce your total points by 10. As an alternative, I may, at my discretion, assign additional work. You are responsible for all material discussed, handed out or assigned in class even if you are absent. Attendance will be taken at the beginning of class. Please make every effort to be on time for class. Please don’t wear hats in class.

            Use APA style for all written work (see appendix B). All presentations should include PowerPoint slides.

 
PROJECT 1: Literature Review

            Select eight articles from the list of journals in Appendix A and/or other relevant journals that focus on some aspect of international accounting: accounting, financial reporting, auditing, managerial accounting, information systems, taxation. The articles should either discuss accounting in a foreign country or compare U.S. accounting to that in a foreign country. Select articles dated January 2001 or later.

For each article, prepare a brief (one to two pages) synopsis. Begin each synopsis on a new page and identify the source. Provide a bibliography with all sources at the end. Be prepared to present your summary to the class on February 16.

PROJECT 2: Firm Comparison and Country Comparison

            The class will be divided into groups and each group assigned a foreign country. This project contains two parts: a firm comparison and a country comparison. For the firm comparison, obtain the English language version 2002 or 2003 annual report of a company in that foreign country filing in the U.S. or a Canadian company whether or not a U.S. filer. While it may be denominated in a foreign currency it must also include U.S. dollar amounts (unless it is a Canadian company). Also obtain an annual report of a U.S. company in the same industry. Identify differences of form and content between the two annual reports. Describe the differences systematically. Also, identify the applicable filing requirements of the SEC and explain how they have been accommodated in the foreign company’s annual report.

            For the country comparison, compare and contrast the accounting in your foreign country to the U.S. environment and U.S. GAAP. Discuss similarities and differences. Begin with environmental considerations and then accounting and financial reporting considerations. Add for next time: The paper should be at least 10 pages of text. Present your project 2 findings beginning April 5.

 EXAMS:

            There will be two exams. Each exam may consist of true/false, multiple choice, essays and problems. If you must miss an exam due to a hardship you must talk to me before the exam. Failure to do this may result in a zero for that exam. You may use calculators but you must write down formulas and steps in the process of solving the problems. Correct answers must be supported by calculations to receive credit. Also, clearly mark your answers. If you answer on the back, clearly note this.

            Cheating will not be tolerated. The guidelines on academic integrity in the University Catalog state, "students have an obligation to exhibit honesty in carrying out their academic assignments. Students may be found to have violated this obligation if they plagiarize or cheat. Plagiarism is presenting the work of others as one's own; cheating is giving, taking or accepting any illicit advantage for any course work inside or outside of the classroom."

HOMEWORK:

            In order to gain a thorough understanding of the topics covered in this class it is essential that your homework be completed before class. We will review your completed homework in class. You should be prepared to present your solutions in class and defend them. Any corrections or additions should be made in red. The homework for most chapters will be collected after class. It is worth one to three points per chapter. When submitting homework, please use these procedures: 1) Start each problem or exercise on a separate page however, two exercises may be put on one page; 2) Do not write on the back side of the page; 3) Don't submit paper with frayed edges; 4) Write your name on each page; 5) Use a staple or paper clip.

            You must make an honest effort at each problem to receive credit. In order to demonstrate honest effort you are to do the following for each assigned exercise or problem that you are unable to complete: 1) Turn in all scratch work used trying to work the problem; and 2) On a separate sheet of paper, letter the page a through f and provide the following information:

            a. The problem attempted.

            b. The amount of time you spent trying to work the problem.

            c. Identify the requirements you were able and unable to work.

            d. State what you did not understand about the problem and its requirements.

            e. State which pages in the textbook you read in your attempt to solve the problem.

            f. Identify by page number which examples in the text you looked at for assistance.

 
            No late homework will be accepted (i.e., after the end of the class in which it is covered). Normally, your homework cannot "attend" class without you. Cheating or plagiarism will not be tolerated. Again, see the guidelines on academic integrity in the University Catalog.

            Additional readings and problems will be assigned at my discretion.

 QUIZZES:

            Quizzes may be given on some chapters either before (in an effort to encourage students to come prepared for class by reading the assigned material) or after the chapter is discussed in class. Each will be worth approximately five points. The lowest grade will be dropped. No make-up quizzes will be given.

WITHDRAWAL / DROP:

            In order to drop this course, see your advisor on or before January 23, 2004. (Be sure to have your PIN.) In order to withdraw from this course submit the appropriate form, signed by myself and your advisor, to the Registrar by Friday, April 26, 2004.

GRADING SYSTEM:

            Two exams                               150 points        A = 90-100%

            Project 1                                  100 points        B = 80- 89.99%

            Project 2                                  150 points        C = 70- 79.99%

                                                                                    D = 60- 69.99%

            Homework/etc.                          25 points        F = Below 60%

            Total approximate                  425 points
                                                                                =======       

 Note: Skim all appendixes, read all footnotes. Additional HW may be assigned.

Students with disabilities who require reasonable accommodations to fully participate in course activities or meet course requirements are encouraged to register with the Office of Disability Services to discuss access issues. Please contact Dr. MeShelda A. Jackson by email mjackson@stfrancis.edu or phone 815-740-3461.

Love is not a feeling, it’s an act of your will.

List of journals

Accounting Horizons*

Accounting Review*

Barrons

Business and Economic Review

Business Economics

Business International

Business Week*

Business Month

Chief Financial Officer

The CPA Journal

The Economist*

Euromoney

Financial Analysts Journal

Financial Times

Financial Management

Forbes*

Fortune*

Harvard Business Review*

International Journal of Accounting

International Management

Journal of Accountancy*

Journal of Accounting, Auditing, & Finance*

Journal of Applied Management & Entrepreneurship*

Journal of Business*

Journal of Business Research*

Journal of Finance

Journal of International Business Studies

Management Accounting

Management Accounting Research*

Practical Accountant*

Quarterly Journal of Economics*

Wall Street Journal*

* Hard copy in USF library

Appendix B

Guidelines for written work

All papers should be prepared using a word processor with standard font (like Courier or Times New Roman), size 10 or 12, double spacing, and one-inch margins on all sides. I strongly suggest you use the Writing Center. Follow APA (American Psychological Association) style. In the body of your paper refer to the author’s last name and year, e.g., "According to Ward (1995)…" or "E32 proposes that goodwill be recognized as an asset (Ward, 1995)."  Examples of book (no page numbers) and journal article references follow.

 Tabachnick, B. G. & Fidell, L. S. (1989). Using Multivariate Statistics (2^nd ed.). New York: Harper & Row.

 Ward, T. J. (1995). Using information from the statement of cash flows to predict insolvency. Journal of Commercial Lending, 77(7), 29-36.

 White, G. I., Sondhi, A. C., & Fried, D. (1998). The Analysis and Use of Financial Statements. (2^nd ed.) New York: Wiley.

 Zavgren, C. V. (1983). The prediction of corporate failure: the state of the art. Journal of Accounting Literature, 2, 1-37.

 __________. (1985). Assessing the vulnerability to failure of American industrial firms: a logistic analysis. Journal of Business Finance & Accounting, 12(1), (Spring), 19-45.

 Zmijewski, M. E. (1984). Methodological issues related to the estimation of financial distress prediction models. Journal of Accounting Research, 22, (Supp.), 59-82.