International Accounting

International Accounting

International Accounting Standards

Applying to the standard documentation of accounting "standard" means a set of documented rules of accounting.

Accounting standards can be of two types: domestic and international. Internal standards – is norms on accounting issued for use within the country. International accounting standards - these are the standards developed by the International Accounting Standards Committee (IASC) and recommended for the use in the world practice.

There is a close relationship between domestic and international standards. As a rule, internal accounting standards are primary. During the development of international standards internal standards are analyzed, the current practice of accounting of any phenomenon in different countries is studied, and then recommendations on accounting of international character are forming.  At the same time domestic accounting standards should be built on the basis of international standards.

International standards do not reject the national requirements for record keeping and preparation of financial statements in individual countries.

Financial Accounting - lesson planning

  1. Introduction to accounting
  2. The regulatory framework
  3. Accounting conventions
  4. Sources, records and books of prime entry
  5. Ledger accounts and double entry
  6. From trial balance to financial statements
  7. Sales tax
  8. Inventory
  9. Tangible non-current assets
  10.  Intangible non-current assets
  11.  Accruals and prepayments
  12.  Irrecoverable debts and allowances
  13.  Provisions and contingencies
  14.  Control accounts
  15.  Bank reconciliations
  16.  Correction of errors
  17.  Preparation of financial statements for sole traders
  18.  Incomplete records
  19.  Partnerships
  20.  Introduction to company accounting
  21.  Preparation of financial statements for companies
  22.  Events after the reporting period
  23.  Statements of cash flows
  24.  Information technology

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