Purpose

To develop and offer a remote access international accounting course that will facilitate students 

• Identifying differences and similarities in the national cultures of the four countries that could impact business practices with the individual countries
• Identifying differences and similarities in the financial reporting standard setting process of the four countries and the IASC and discuss how these processes evolved within the constraints of the national culture
• Identifying differences and similarities in accounting profession in the different countries and the impact that may have on the harmonization of accounting standards 
• Studying and understanding the reporting requirements of various topics in each of the four countries and the IASC, if applicable
• Identifying current international "hot topics" 
• Working together to reach a group consensus on the above items with both your national team and international team
• Interacting with professional accountants and standard setters from the participating countries
• Accomplishing the above by using current communicative and collaborative technology

Justification

Individuals are living in a global economy. For business professionals, this creates a need to learn to operate and actively participate in an international arena. If accounting is the language of business, and that language is to communicate information to international users, it behooves accounting professionals to work together to form a common business language. Part of this common business language can be in the form of international accounting standards that are adhered to by players operating within the global economy.

Many accounting professionals have concluded there will be harmonization of accounting standards among nations. The questions are (1) when will the harmonization occur, (2) who will develop the standards, (3) who will implement the standards, and (4) who will enforce the standards?

To answer the questions, individuals from different countries will need to work together to form consensus. This process will be eased somewhat if the individuals recognize and respect the cultures and existing accounting rules the individuals are currently operating under. The process will also be eased if individuals are familiar with and able to use current technology, which frees them from the constraints of time and space.

The globalization and apparent desire of many accounting professionals to harmonize accounting standards creates a need for accounting educators to:

• familiarize themselves and their students with the events and changes in accounting outside their own country
• provide a means to communicate and collaborate with current technology, and
• provide a means to reach group consensus.

Participants

Project Administrators

• Dr. Sharon Lightner, SDSU- Project Coordinator

Faculty, Student Participants, Standard Setters and Consultants
A  university in each of four countries will be identified to participate in the course.  From each university contact will come:

• A  faculty member, who may or may not  have expertise in international accounting.  The faculty member will identify five students, a standard setter, and  practicing accountants from their country to participate in the course.
• Each of the five students must be proficient in the English language, have completed at least one financial accounting class, have access in the Internet and have moderate computer skills.  These students will comprise a "national team".
• A standard setter willing to attend class to discuss standard setting in that particular country and the possible harmonization of accounting standards.
• Practicing accountants willing to attend several class sessions related to specific accounting topics.

The student participants will be members of two teams:

• National Team (NT):: There will be four national teams. Each national team will be comprised of the five student participants from the same country. The students of each NT will provide information about their national culture, the history and process of standards setting within their country, and the national standards of specific accounting topics.
• International  Team (IT): There will be five international teams. Each IT will be comprised of a student participant from each of the four countries. The students of each IT will discuss the cultural information provided by the national teams, suggest a process for developing international standards and apply this process to develop an international standard for several specific accounting topics.