Kyiv National Economic University named after Vadym Hetman

Accounting in Foreign Countries

The aim of masteringthe discipline required of students' knowledge and practical skills in accounting in foreign cranes, given the generally accepted principles and international accounting standards.
Tasks of the course: learning general issues as accounting of foreign countries that formed within the British-American, Continental, South American and international and in-depth analysis of the accounting systems of countries with developed market economies.
Results of educational:
As a result of the course students should know: features of accounting in different countries; International Financial Reporting Standards, their composition and general characteristics; financial statements of foreign countries, its composition, purpose and requirements thereto; method of financial reporting in the US and Western Europe; records of cash in hand and bank accounts; account current financial investments; types of receivables, account discounts granted and return the goods, the method of calculation of provision for doubtful debts; records received and discounted bills; inventory accounting system; methods of stock assessment, reflection stocks in the financial statements; recognition and measurement of fixed assets, depreciation methods; recognition and initial measurement of intangible assets, depreciation methods and the elimination of intangible assets; account of long-term investments in bonds and order and discount amortization of premiums; account of long-term investments in shares and procedure for revaluation; appointment, composition and method of preparation of consolidated financial statements; classification and measurement of liabilities; records of income, expenses and the procedure for determining financial results; classification and accounting equity, retained earnings and dividends, etc.
Contents of the subjectis revealed in the following topics: Common principles and accounting system. The financial statements, its meaning and interpretation. Accounting for cash. Accounting for accounts receivable. Accounting inventory. Accounting for long-term assets. Accounting for financial investments and consolidated reporting. Accounting obligations. Accounting for equity and the distribution of profits in companies.