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Course ID: AIOPS
Accounting for International Operations
This course provides an accounting and managerial perspective on the complex financial reporting issues which can arise when conducting foreign operations or engaging in foreign currency transactions. It offers an in-depth treatment, through discussion of principles and numerous illustrative case studies, of virtually all aspects of controlling and reporting the results of international operations. (Available in 4 – 12 hour format).
Learning Objectives
- Gain an understanding of the drivers of economic exposure to foreign exchange fluctuations (at both the subsidiary and financial instruments level).
- Gain an understanding of how the determination of a subsidiary’s functional currency affects the financial reporting.
- Recognizing the principles underlying the accounting for international operations — and when key rules make exceptions to the principles.
Major Topics
- Key differences between economic and accounting exposure to foreign exchange rate movements.
- Overview of Topic 830 – Foreign Currency Matters and Key Details.
- How the choice of functional currency affects accounting systems design and reported financial results.
- Foreign currency derivatives and hedges.
- Comprehensive case studies and spreadsheet examples that can be adapted to a company’s own operations.
- Key differences between U.S. GAAP and International Financial Reporting Standards.
Advanced Preparations
None.
Who Should Attend
Accountants and finance professionals that expect to be dealing with foreign operations.
Fields of Study
AccountingPrerequisites
Experience conducting foreign operations or engaging in foreign currency transaction.