The general objective of this course is to expose students to 
the financial accounting issues faced by multinational firms. By 
the end the course, the student should be able to:
• Describe the international efforts to converge financial 
reporting standards, with emphasis on the convergence of IFRS 
and U.S. GAAP 
• Account for various transactions using International Financial 
Reporting Standards (IFRS)
• Understand major differences between IFRS and U.S. GAAP 
• Appreciate the complexities of creating accounting standards 
for recognition, measurement, disclosure, and at the conceptual 
level
• Evaluate and apply judgment to the relevance of various 
accounting treatments for a selected issue 
• Understand approaches for accounting for the effects of 
inflation on financial statements

1. Course introduction
2. Convergence of global accounting standards
3. The conceptual framework
4. Accounting for assets using IFRS
5. Accounting for liabilities using IFRS
6. Other IFRS accounting issues which may include first-time 
adoption of IFRS, revenue recognition, leasing, or financial 
instruments
7. Inflation accounting

This course upholds the principles of the UGA Student Honor 
Code: "I will be academically honest in all of my academic work 
and will not tolerate academic dishonesty of others." A Culture 
of Honesty, the University's policy and procedures for handling 
cases of suspected dishonesty, can be found at www.uga.edu/ovpi. 
Any violations of this policy including, but not limited to, 
cheating or plagiarism, will be reported to the appropriate 
university authority.