Discussion A5

Think back and consider all that you have learned in the first nine modules of this course. What elements of international accounting stood out to you as the most complicated, interesting, or difficult? If you were to share with a coworker what you felt was the most important element of international accounting, what would it be? Finally, how can you apply what you have learned in this course at your previous, current, or future employment? Your initial post should thoroughly address the question prompt and be supported with research. Be sure to properly cite your reference(s).

Course Topics

· Evaluate diversity in accounting practices for their impact on the effectiveness of financial accounting and reporting in a global economy

· Differentiate between generally accepted accounting principles and International Financial Reporting Standards as they apply to the transparency and effectiveness of financial statements

· Assess the implications of the United States converging with International Financial Reporting Standards by critically evaluating the impact it will have on financial reporting in a global economy

· Analyze the process of international financial statement analysis for its impact on the decision-making process in a multinational organization

· Interpret how foreign currency rates impact financial statement creation in accordance with applicable rules and regulations

· Examine the implications of variances in international tax laws on organizational strategy under generally accepted accounting principles and International Financial Reporting Standards reporting requirements