18 Jun WHAT WILL THIS MEAN FOR THE IN
WHAT WILL THIS MEAN FOR THE INCOME AND RISK OF THE COMPANY?
September 20, 2018Posted by: kajo No Comments
ACC 680 Final Project Guidelines and Rubric
Overview
There seems to be a general misconception that accountants working in many organizations—such as a local CPA firm or an organization that is not publicly
traded—will not be impacted by the concerns of international accounting. Globalization, however, continues to shrink the global market into a seemingly smaller playing field, making connections from businesses of any size and location to other businesses even more likely and more crucial. Companies that may not have felt the impact of globalization and these accounting concerns in the past are likely to be feeling them now. This course will approach international accounting concepts and dilemmas critically, examining the differences and impact of conducting business globally.
The purpose of the final project in this course is to foster this critical thinking in regard to key concepts in international accounting. The project will explore the impact of diversity in accounting practices, the differences and impact of generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS), and how international rules and regulations influence business practices.
In this assignment, you will demonstrate your mastery of the following course outcomes:
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
Prompt
For this project, consider this scenario: you have worked very hard and have just earned a promotion at Quality CPA firm. As part of your new responsibilities, you will be advising an influential client on their international aspirations. Their business has been booming and they are seriously considering expanding their operation overseas. They are concerned about the political and financial risks of such an undertaking.
You will build a multimedia presentation (utilizing audio, if possible, with speaker notes to elaborate) that addresses the upper management of this company. You will choose a country other than the United States. This country will be presented as a potential destination for the company, although other countries can be included, as the global market is the focus. The presentation must explore the company’s potential expansion into the chosen country, the global market in general, and how the expansion will impact their operations.
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