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    SPRING 2005

Instructor: Carl Pacini, PhD, JD, CPA, CFSA

Office: Room 163-Academic 3 Bldg.

Phone: 239-590-7344

    Course Website:

     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 1:003:00 pm

CRN # 10194

Class Time &

     Place: Wednesdays 5:00 pm 7:45 pm

     Griffin HallRoom 215

Last Date to

    Withdraw: March 25, 2005

Final Exam

    Date: TBA

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 3132Intermediate Accounting II or its equivalent




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

    practices worldwide

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

Program Outcomes:

     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.

    Core Competencies:

     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

    domestic markets;

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

     A 460-500

     A- 445-459

     B+ 435-444

     B 415-434

     B- 395-414

     C+ 385-394

     C 350-384

     D 300-349

     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.

Homework Assignments:

     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



     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. 1Introduction (pp.1-33) Discussion questions -1,2,4,5,7, 8

     Exercises - 2, 5, 8, 9

Ch. 2Development and Classification Discussion questions- 1,3,4,5,6,9,10,12

    (pp. 41-58) Exercises-2, 5, 9

Ch. 3Comparative Accounting I Discussion questions -1,2,3,4,5,10,11

    (pp. 65-95) Exercises - 1,3,5,7,9

EXAM IChapters 1,2, and 3

Chapter 5Reporting 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 8International 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

    10: 71-83.

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

    2: 39-68.

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

    25(3): 343-357.

    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 2Chapters 5, 6, and 8 and class readings.



     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.


     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.

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