The Undergraduate International Accounting Course.

Abstract The article reports that at the micro-level, international accounting can be defined as accounting for firm-level business activity that crosses national boundaries or is conducted in a location other than the firm's domicile country. This definition excludes the study of foreign legal, political, economic and social environments except as these environmental elements affect the accounting function of the international business firm. It also excludes the study of accounting principles of a given country unless that study relates to international business activity. The study of comparative accounting principles is, however, an element of international accounting since it is related to transnational financial reporting for investors. International accounting encompasses all areas of accounting--managerial accounting, financial accounting, accounting theory, auditing and taxes. If these areas are to be covered from a multinational perspective, determining the content of the undergraduate course is indeed a primary consideration. Financial Accounting for International Operations has been included in the advanced accounting course. It includes accounting for foreign trade, foreign branches, and foreign joint ventures as well as translation of foreign subsidiary financial statements.