FLORIDA GULF COAST UNIVERSITY
ACCT 6255–INTERNATIONAL ACCOUNTING
Instructor: Carl Pacini, PhD, JD, CPA, CFSA
Office: Room 163-Academic 3 Bldg.
Course Website: http://elearning.fgcu.edu
This is the ANGEL learning platform on which you will find the
course syllabus and announcements. You are responsible for
regularly checking this site.
Office Hours: M &W - 10:00-11:30 am;
T 1:00—3:00 pm
CRN # 10194
Class Time &
Place: Wednesdays 5:00 pm – 7:45 pm
Griffin Hall—Room 215
Last Date to
Withdraw: March 25, 2005
Required Materials: International Accounting, Fourth edition
by Frederick Choi, Carol Frost, and Gary Meek
Instructor-prepared material and outside articles available in the
Prerequisite: ACCT 3132–Intermediate Accounting II or its equivalent
YOU ARE EXPECTED TO READ AND UNDERSTAND THE CONTENTS OF THIS
SYLLABUS. IT IS VERY POSSIBLE THAT I COULD ASK YOU AN EXAM QUESTION
THAT IS BASED ON MATERIAL IN THIS SYLLABUS.
• To introduce some of the key differences in accounting systems worldwide
• To discuss some of the important accounting dimensions of global business
and the major topics that comprise the field of international accounting
• To identify the key environmental influences on business and accounting
• Discuss the major factors influencing the development of accounting and
information disclosure worldwide
• To briefly discuss culture as a major determinant of accounting practices
and rules worldwide
• To identify the major international pressures for accounting change
• To discuss different ways to classify accounting systems
• Show how Geert Hofstede’s cultural values and four key accounting
constructs relate to each other in developing accounting standards and
• Show how accounting is similar within different country groups and how
these groups are different from other groups: Anglo-Saxon countries,
Nordic countries, Germanic countries, Latin countries, and Asian countries
• To examine the players, processes, and pressures involved in the
movement for harmonization of international accounting standards
• To compare and contrast international accounting standards with US
GAAP in several key areas
• To learn planning and analytical skills and communication skills
This course is designed to help the student achieve the following outcomes:
• To encourage and promote critical thinking, a skill necessary to succeed
today as an accounting professional. This means each student should be
able to comprehend an unfocused set of facts, identify, and if possible,
anticipate problems, and find acceptable solutions.
• To improve the student’s communication skills. Each student should be
able to locate, obtain, and organize information from both human and
electronic sources. Each student will also learn to defend his or her views
through written work.
• To enhance the student’s interpersonal skills. Cooperative learning or
working in teams is one key way of promoting achievement of this outcome.
In addition to the program outcomes noted above, this course promotes the
following core competencies:
• Acquisition of a global perspective by each student to help their future
employers (or their own businesses) better compete in international and
• Development of an ability to formulate decisions that integrate practical,
economic and ethical considerations; and
• Appreciation of the vagaries and uncertainties of real life business
situations and the importance of life-long learning
Attendance and Participation:
Attendance and completion of assignments are considered minimum requirements
for all students. Penalties may be assessed in the final determination of your course
grade for unreasonable deficiencies in either or both of these requirements. The penalty
may take the form of a reduction in letter grade, the assignment of a failing grade or a
grade of incomplete. This penalty assessment policy applies regardless of performance
on written examinations and the form of the penalty is at the discretion of the instructor.
Also, please note that 70 points toward your final grade involves attendance. Each
student starts the semester with 70 points for attendance. Each time you miss class after
one absence you lose 7 points from your attendance grade. The instructor retains the
discretion to approve excuses on a case-by-case basis. If you miss class for a medical
reason do not ask the instructor to be excused without written documentation from a
medical doctor or nurse practitioner. Participation in FGCU team athletic events is also a
reasonable excuse for missing class.
Each student starts this class with an A. It is your job to keep it.
Two exams will be given in this course. Each exam will consist of short-answer
essays and possibly objective questions. Each exam will be non-cumulative but it is
assumed that each student will remember the material already learned that is necessary
to answer a given question.
Each student’s grade will be based on the following:
Exam 1 120 points
Exam 2 150 points
Attendance 70 points
Homework 80 points
Class Participation/Readings 80 points
Total Points 500 points
The grading scale for final grades is: Grade Total Points
F Below 300
Make-up exams will not be given without the instructor’s approval. If you miss an exam without a reason approved by the instructor, you may receive a ―0". The instructor’s discretion is final. If you hand in the project or a homework assignment late, you may
have points deducted from your grade.
Please bear in mind that you are responsible for all material assigned even if it is not covered in a class lecture. You are also responsible for material
presented in class that is not covered in the textbook. You are also responsible for
any outside reading material assigned by the instructor.
Article Summary Homework: Each article listed in the Seminar Reading Assignments
below will be outlined or summarized by two members of the class. The persons
assigned to each article will prepare a summary of the article, including discussion
questions, and lead the discussion in class. Discussion leaders must lead their
discussion from the front of the room. Please make a copy of your outline or summary for
each person in the class. Being an article discussion leader counts heavily towards your
class participation grade.
Although lectures are used in this course, a substantial portion of class time
will be spent discussing questions, exercises, and readings. Individual student
participation in these discussions requires that text material be read before class and
that homework assignments be completed before class. The instructor will assign
various discussion questions, exercises, and cases to done for certain classes as the
semester progresses. Homework assignments will be collected on a regular basis. Each
assignment is worth up to a maximum of 10 points. ALL HOMEWORK ASSIGNMENTS ARE TO BE WORD-PROCESSED. HANDWRITTEN ASSIGNMENTS WILL NOT BE
Please make a copy of each homework assignment so you are ready to engage in
discussion of the various questions we will address throughout this course.
Schedule of Assignments:
Ch. 1–Introduction (pp.1-33) Discussion questions -1,2,4,5,7, 8
Exercises - 2, 5, 8, 9
Ch. 2–Development and Classification Discussion questions- 1,3,4,5,6,9,10,12
(pp. 41-58) Exercises-2, 5, 9
Ch. 3–Comparative Accounting I Discussion questions -1,2,3,4,5,10,11
(pp. 65-95) Exercises - 1,3,5,7,9
EXAM I–Chapters 1,2, and 3
Chapter 5–Reporting and Disclosure Discussion questions - 1,2,3,5,7,8,9
(pp. 145-199) Exercises – 4,7,9,11
Chapter 6 – Foreign Currency Discussion Questions 2,3,5,6,9,12
Translation (pp. 203-241) Exercises – 3,6,8,12
Chapter 8–International Accounting Discussion Questions - 1,2,3,5,6,7,8,11
Harmonization (pp. 248-275) Exercises – 1,8
Seminar Reading Assignments
(We may not have time to cover all the assigned readings).
Louis, H. 2003. The Value Relevance of the Foreign Translation Adjustment. The
Accounting Review 78(4): 1027-1047.
Kimbro, M.B. 2002. A Cross-Country Empirical Investigation of Corruption and It’s
Relationship to Economic, Cultural, and Monitoring Institutions: An Examination of the
Role of Accounting and Financial Statements Quality. Journal of Accounting, Auditing & Finance 17(4): 325-349.
Pacini, C., H. Rogers, and J. Swingen. 2002. The OECD Convention on Combating
Bribery of Foreign Public Officials in International Business Transactions: A New Tool to
Promote Transparency in Financial Reporting. Advances in International Accounting 15:
Smith, A. 2002. Testing the Stability of the Global Concept of Culture in an Accounting
Context. Accounting Enquiries 11(2): 227-248.
Evans, L. 2004. Language, Translation, and the Problem of International Accounting
Communication. Accounting, Auditing & Accountability Journal 17(2): 210-248.
Nobes, C. 2003. On the Myth of Anglo-Saxon Financial Accounting: A Comment.
International Journal of Accounting 38: 95-104.
Garrido, P., A. Leon, and A. Zono. 2002. Measurement of Formal Harmonization
Progress: The IASC Experience. International Journal of Accounting 37: 1-26.
Robb, S.W.G., L. Single, and M. Zarzeski. 2001. Nonfinancial Disclosures Across
Anglo-American Countries. Journal of International Accounting Auditing & Taxation
Chanchani, S. and R. Willet. 2004. An Empirical Assessment of Gray’s Accounting Value
Constructs. The International Journal of Accounting 39: 125-154.
Stolowy, H. and A. Jeny-Cazavan. 2001. International Accounting Disharmony: The
Case of Intangibles. Accounting, Auditing & Accountability Journal 14(4): 477-496.
Douthett, E.B., J. Duchac, I. Haw, and S. Lim. 2003. Differential Levels of Disclosure and
the Earnings-Return Association: Evidence from Foreign Registrants in the United States.
International Journal of Accounting 38: 145-162.
Kinnunen, J. and M. Koskela. 2003. Who is Miss World in Cosmetic Earnings
Management? A Cross-National Comparison of Small Upward Rounding of Net Income
Numbers Among Eighteen Countries. Journal of International Accounting Research
Olibe, K.O. 2001. Assessing the Usefulness of SEC Form 20-F Disclosures Using Return
and Volume Metrics: The Case of UK Firms. Journal of Economics and Finance
Rahman, A., H. Perera, and S. Ganesh. 1999. Accounting Practice Harmony, Accounting
Regulation and Firm Characteristics. Abacus 38(1): 46-77.
Bohren, O., J. Haug, and D. Michalsen. 2004. Compliance with Flexible Accounting
Standards. The International Journal of Accounting 39: 1-19.
EXAM 2–Chapters 5, 6, and 8 and class readings.
THE INSTRUCTOR RESERVES THE RIGHT TO CHANGE THE SYLLABUS.
Ethics have become an extremely important topic in today’s environment. An
accountant’s only product is his/her service which is measured by his/her integrity and
professionalism. It is expected that no academic dishonesty will occur. Cheating on any
assignment will be pursued according to the appropriate procedures outlined in the
Student Conduct Code. Cheating includes plagiarism on any of the assigned projects.
All students are expected to demonstrate honesty in
their academic pursuits. The university policies regarding issues of
honesty can be found under the Student Code of Conduct on page
11, and under Policies and Procedures on pages 18-24 of the
Student Guidebook. All students are expected to study this
document which outlines their responsibilities and consequences for
violations of the policy.
The syllabus may be changed at the instructor’s discretion as circumstances may warrant.
DISABILITY ACCOMMODATION SERVICES
Florida Gulf Coast University, in accordance with the Americans with Disabilities
Act and the university’s guiding principles, will provide classroom and academic
accommodation to students with documented disabilities. If you need to request
accommodations in this class due to a disability, or you suspect that your academic
performance is affected by a disability, please see me or contact the Office of
Multi-Access Services. The Office of Multi-Access Services is located in the Student
Services Building, Room 214. The phone number is (239) 590-7925.