Solution for QID #83390: Jubail University College Department of Business Administrat | StudyHelpMe

Jubail University College Department of Business Administration Semester 431 Assignment 1 Section No: Course Name: Course Code: Student ID INTERNATIONAL ACCOUNTING ACCT 304 Student Name Group Discussion Topic: Contemporary concerns of Multinational Organisations Instructors: Zakiya Abdul Samad Discussions: Week 3 - 5 Report Submission Deadline: Week 6 Thursday Cover Page Instructions and steps for the assignment Objectives: This assignment aims to provide opportunity for the students to discuss their learning and critically evaluate contemporary issues in International Accounting Field. It targets the course learning objective 4.1: Demonstrate effective communication skills consistent with the business and professional environment. . Instructions: • • • • • Each team should have 4 to 6 members. You will communicate with each other only virtually. (Blackboard) Each team will select one topic from the below list and discuss the issue on the discussion forum. At the end of the discussion week, the team will prepare a discussion report. a. Universal Accounting Standards: What are the advantages of having a single set of accounting standards used worldwide? What are some of the major problems caused by worldwide accounting diversity a multinational corporation? b. IFRS Vs GAAP: What are the differences that exist between IFRS and U.S. GAAP? Provide three examples of the differences in the recognition and measurement under IFRS. c. Hedging Currency Risks: What does hedging mean? Why do companies hedge foreign exchange risk? Under what conditions can hedge accounting be used to account for a foreign currency option used to hedge a forecasted foreign currency transaction? d. Foreign Risk Exposure: What factors create a balance sheet (or translation) exposure to foreign exchange risk? How does balance sheet exposure compare with transaction exposure? e. Inflation Accounting: Why is it important that, in countries with high inflation, financial statements be adjusted for inflation? In what ways do International Financial Reporting Standards (IFRS) address the issue of accounting for changing prices (inflation)? f. International Tax: What are the mechanisms used by countries to provide relief from double taxation? Under what circumstances is it advantageous to take a deduction rather than a credit for taxes paid in a foreign country? g. Transfer Pricing: How can transfer pricing be used to reduce the amount of withholding taxes paid to a government on dividends remitted to a foreign stockholder? The team will then submit an experience and learning report before Thursday – Week 6 through the submission link on Blackboard. Format the report professionally and submit through Blackboard only as a .doc file. (no .pdf, .pages or any other format please). Plagiarized work will not be marked. The Report should have following headers: 1. Introduction: Introduce the topic and explain the questions, the purpose of the report and topics. 2. Discussion summary: Briefly Summarize the theme of your team topics, the points/ observations presented, the discussion points and the final agreement of the team. 1 3. Conclusion: Team conclusion about the learning and the experience from the assignment task. Conclude with at least three concluding points. Research and referencing are important. Please use APA style of referencing. 4. Team Member Contribution Table: a table indicating the extent of work done by each one of you. References and Appendix. Rubrics: Your assignment will be evaluated according to this Assignment Grading Criteria Criteria Report Content (60%) Group Dynamics (20%) Marking Points • Provides a sound introduction to the topic and previews major points. • Responses thoroughly cover the topic elements in a substantive manner. • Response demonstrates critical thinking and analysis. • Paper structure is clear and easy to follow. Ideas flow in a logical sequence. • The conclusion thoroughly reviews the major points. Writing Style, Grammar, APA • Teamwork Table is completed with details. • Discussion demonstrate a clear understanding of the key elements of assignment questions. Y/N Grade • Active discussion and involvement from all group member • Discussion spread over at least three days and about 2-3 meaningful discussion from each member • The tone is appropriate to the content and assignment. Individual • Demonstrated sufficient understanding of the Participation group topic (20%) • Played an important role in the discussion and responded well to team questions • Used examples and illustrations to clarify the topic • Participate sufficiently and spread the discussion to at least three days and a minimum of 3 posts. Total (100) Wish you the best of learning and Experience!! 2 - Start your Report from Here – 3