Accounting for International Operations

 
 Tittle  Accounting for International Operations
 Department  Accounting in Production Sphere
 Type (compulsory/optional)  Optional
 Cycle (first/second)  Second cycle
 Semester when the component is delivered  2-nd semester
 Course description  The primary purpose of this course is to provide an overview of accounting concepts on foreign economic activity and international operations. Enterprises that engage foreign economic activities should to keeping the financial and management accounting, preparing statistical reports and financial statements. Making accounting for foreign operations, the enterprises use: Chart of Accounts and its application, national accounting standards, international accounting standards and other laws of Ukraine, resolutions, instructions about foreign economic activity. We will have a look at them and will have general examples and exercises of accounting for international operations through the lectures and seminars.
 Course content Topic 1. General standards of organization and accounting for international operations
Topic 2. International treaties and their accounting tasks
Topic 3. Accounting of monetary and financial operations
Topic 4. Accounting for payment and credit operations
Topic 5. Accounting for import operations
Topic 6. Accounting of export operations
Topic 7. Accounting for foreign investments
Topic 8. Disclosure of information about international operations in the financial statements
 Learning outcomes   - the ability to use conditions of international contracts which have effect on the accounting business transactions;
- apply terms of delivery and transportation of goods by Incoterms;
- operating methodology of determine exchange difference and reflect it at the accounting;
- the ability to collect detailed records about payment and credit transactions in a foreign economic activity of enterprise;
- independently analyze specifics of export and import operations and their impact on accounting;
- make the best financial decision and prepare financial statements at the part of international operations.
 Contact hours (lectures/seminars)

 15/15
 
Prerequisites

 Theory of Accounting, Economy
 Number of ECTS credits allocated

5 credits