international accounting


International Accounting and Reporting refers to a global language for business affairs so that the company accounts are understandable and comparable across international boundaries. It helps you to gain an understanding of how international accounting is interpreted and applied in the preparation of financial statements.

International Accounting and Reporting System subject aims to develop skill and competencies of various related practices. A comparative perspective of the accounting standards and practices across the different countries will be taught in the course.

Here we present Delhi University TYBMS Sem 5 Syllabus – International Accounting And Reporting System:

Unit 1 – 12 lectures

  1. Global accounting standard – Meaning, needs
  2. Benefits of accounting standards
  3. Types of accounting standards
  4. Argument for and against Global accounting standards
  5. Concept of harmonization and convergence
  6. Obstacles in harmonization and convergence
  7. Suggestions for increased convergence and harmonization

Unit 2 – 10 lectures

  1. International Accounting Standard Committee (IASC) – objectives, working
  2. Composition of IASC
  3. Reasons of failure of IASC
  4. IAS – I (Presentation of financial statements)
  5. Process of developing international accounting standards

Unit 3 – 9 lectures

  1. International Accounting Standard Board (IASB)
  2. Creation of IASB
  3. Organizational structure
  4. Standard setting procedures
  5. Enforcement powers of IASB and achievements of IASB

Unit 4 – 10 lectures

  1. International Financial Reporting Standards (IFRS) – Main feature
  2. Uses and objectives of IFRS
  3. IFRS issued by IASB
  4. Principle based vs rule based standards
  5. Fair value accounting (FVA)
  6. Public sector and IFRS

Unit 5 – 15 lectures

  1. A comparative perspective of accounting
  2. Accounting standards and practices in Europe, USA, Asia and UK
  3. Reporting and disclosure practices across countries
  4. Global accounting standards and
  5. International convergence


Textbooks and References:

  • International Accounting – Frederick, D.S. Choi and G. Mueller
  • International Accounting and Multinational Enterprises – Radebaugh, Lee H., Gray, Sidney J, & Black, Ervin L.
  • Quality financial reportin – Miller Paul B.W and Bahnson, Paul R.
  • Oscar – International Accounting and Reportin – Evans, Thomas G., Taylor, Martin E. and Holzman
  • International Accounting – Rathore, Shirin.
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