International Accounting

​International accounting

Mr. Fabián Mendoza​

What is accounting?

What do we mean when we say "international" accounting?

The system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results

International accounting is focused on using specific accounting standards that are as relevant when you are balancing the books of a company overseas or in your own country.

Multiple Choice

All accounting over the world has the same rules?

• Yes

• No

​Four requierements for international accounting

By the International Financial Reporting Standards

​-Statement of Financial Position

-Statement of Comprehensive Income

-Statement of Changes in Equity

-Statement of Cash Flow

​Four requierements for international accounting

Some text here about the topic of discussion

The comprehensive statement, which is also known as a profit and loss statement, shows the income and expenses of a company.

​-Statement of Comprehensive Income

The statement of position describes a company’s shareholder equity, assets, and liabilities. It’s also called a “balance sheet.”

​-Statement of Financial Position

​Four requierements for international accounting

Some text here about the topic of discussion

The cash flow statement just looks at the cash as it comes in and goes out. It doesn’t count material assets, unsold stocks or other equities, or accounts receivable.

-Statement of Cash Flow

The statement of changes in equity outlines items that have been bought or sold as the company conducts business.

-Statement of Changes in Equity

Multiple Choice

The definition: "...outlines items that have been bought or sold as the company conducts business." belongs to...

• Statement of Financial Position

• Statement of Comprehensive Income

• Statement of Changes in Equity

• Statement of Cash Flow

​Why is international accounting important?

Since so many companies are doing business internationally and have multi-national offices, there is a need for international specialists who can translate statements and make general purpose financial statements that are transparent for stakeholders and for creditors as well. The best specialists will be experienced in both managerial accounting and financial accounting but will also know taxation and financial accounting.

Open Ended

In other words, why do you think we should learn international accounting?

Wrap up

What did we talk about today?

What are the 4 requierements of international accounting?

Why is international accounting important?​