International Accounting (CPE Course)

CPE Credit: 25 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $175

Course Description
International accounting standards are used as the basis for financial reporting outside of the United States. The original documents are lengthy and difficult to research. The International Accounting course solves this problem by condensing the key elements of the standards into a single volume. This course describes the key elements of each accounting topic, how accounting information is to be disclosed, and where to look in the source documents for additional information. The text contains hundreds of practical examples that show how to apply international accounting standards to real-world situations, as well as sample journal entries and usage tips. In short, International Accounting is a handy reference for accountants who need quick answers to difficult problems.

Author: Steven Bragg

Course Number: AC1147

Table of Contents (general topic areas)
Part 1. Presentation of Financial Statements (9 chapters)
Part 2. Assets, Liabilities, and Equity (10 chapters)
Part 3. Revenue and Expenses (8 chapters)
Part 4. Revenue and Expenses (4 chapters)
Part 5. Broad Transactions (9 chapters)
Part 6. Specific Industries (7 chapters)
Part 7. Environmental Accounting (1 chapter)

Learning Objectives

  • Cite the accounting principles upon which international accounting standards are based.

  • Specify the types of formats in which the balance sheet can be presented, and the circumstances under which different financial statement layouts are required.

  • Identify the various sections and line items contained within the statement of cash flows.

  • State the circumstances under which control is exercised over an investee.

  • Specify the circumstances under which financial statements are restated.

  • Cite the indicators of hyperinflation, and when such an environment is no longer considered to exist.

  • State the adjustments needed to derive basic earnings per share and diluted earnings per share.

  • Identify the proper accounting for revenue in an interim period, and note how the integral view alters the accounting for interim periods.

  • State the rules for determining whether a segment of a business is reportable.

  • Specify the rules for determining joint control of an entity.

  • Identify the circumstances under which an entity is considered to be an associate.

  • Specify the factors under which a structured entity is created, and note how to deal with different end dates for the financial statements of subsidiaries.

  • State the underlying accounting transactions for the periodic and perpetual inventory systems, as well as the derivation of the gross profit and retail methods.

  • Recognize the calculation methods for accelerated depreciation.

  • Identify the circumstances under which intangible assets can be accounted for separately.

  • State the uses for investment property, as well as the accounting for it.

  • Cite the circumstances under which impairment occurs, and the indicators of impairment.

  • Recognize the situations when an asset can be designated as held for sale, and the accounting rules that apply to such an asset.

  • Identify the types of events that can create a provision.

  • Identify the evaluation criteria for a contract, the components of the transaction price, and when the expected value method should be used.

  • Specify the treatment of a payment made with a noncash asset.

  • Identify the content of a refund liability account.

  • Recognize when a contract modification can be accounted for as a separate contract.

  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, asset repurchases, and breakage.

  • Specify the accounting for a legal obligation related to harmful products.

  • Recognize the situations under which contract liabilities occur, and when disaggregation is used.

  • Identify the types of post-employment benefit plans, and the accounting for the various types of benefit plans.

  • State the impact of stock price volatility on stock options, and the accounting for a compound financial instrument issued to an employee.

  • Identify the basis of measurement for a deferred tax asset.

  • Specify the criteria used to discern the acquirer in a business combination, and the accounting for contingent consideration.

  • State the classification criteria for a financial liability, a hedging instrument, and a financial asset derecognition.

  • Specify the circumstances under which the highest and best use concept is employed, and examples of the fair value hierarchy.

  • Specify the criteria used to identify a functional currency and a presentation currency.

  • Cite the circumstances under which borrowing costs can be capitalized.

  • Identify the reasons why a lease can be useful for a lessee.

  • Specify the leasing rules related to asset substitution.

  • Recall how the 12-month lease exception works.

  • Specify the criteria for designating an entity as a related party.

  • Classify events as being after the reporting period or as new events.

  • Specify the types of items that do and do not trigger an adjustment to the financial statements if they occur after the date of the financial statements.

  • Describe how insurance contracts are to be separated into groups for accounting purposes, as well as the accounting for the initial and subsequent measurement of the contracts.

  • Cite the accounting rules for biological assets, and identify the characteristics of these assets.

  • State the recognition criteria for a government grant, and recognize the accounting for these grants.

  • Recognize the special accounting treatment for regulatory deferral accounts.

  • Specify the recordation rules for exploration costs and the indicators for mineral asset impairment testing.

  • Specify the types of infrastructure facilities to which a service concession arrangement might apply, as well as the accounting for such an arrangement.

  • Identify the relevant accounting for the hedge of a net investment in a foreign operation, as well as the liabilities associated with the Directive on Waste Electrical and Electronic Equipment, and the recognition criteria for non-cash payments to owners.

  • Recognize the sources of greenhouse gases.

  • Identify the consolidation methods used for emissions reporting.

  • Recognize the methods used to value the cost of carbon.

  • Recognize the accounting recommendations in the IFRIC 3 Emission Rights document.

  • Identify the different types of environmental metrics.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.