need help in international accounting

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Need help on a paper. for milestone one rubric  also attached is the final paper rubric for more details on milestone one paper

need help in international accounting
ACC 680 Milestone One Guidelines and Rubric In Module Two , you will prepare a draft of the section of your final presentation that covers the topic of global business . Your work should include an emphasis on diversity, culture, and potential issues with conducting accounting business internationally. For this project , consider this scenario: you have worked very hard and have just earned a promotion at Quality CPA firm. As part of your new responsibilities, you will be advising an influential client on their international aspirations. Their business has been booming and they are seriously considering expanding their operation overseas. They are concerned about the political and financial risks of such an undertaking. You will build a multimedia presentation (utilizing audio, if possible, with speaker notes to elaborate) that addresses the upper management of this comp any. You will choose a country other than the United States. This country will be presented as a potential destination for the comp any, although other countries can be included, as the global market is the focus. The presen tation must explore the company’ s potential expansion into the chosen country, the global market in general, and how that will impact their operations. Specificall y, the following critical elements must be addressed: I. Global Business : For this part of the assessment, convey to your audience the differences between accounting practices around the world. A. Explain the influence of environmental issues of diversity on ac counting practices. B. Evaluate the impact of the chosen country’s culture on their financial accounting standards. 1. What accounting principles could help inform your response (i.e., Hofstede’s dimension of culture, Gray’s accounting values, etc.)? C. Evaluate t he impact of potential issues on business operations that may arise when conducting accounting business in the chosen country. Rubric Guidelines for Submission: Your multimedia presentation should include 10 –15 slides , which must be accompanied by speaker notes and may contain audio if you wish. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more in formation, review these instructions . Critical Elements Exemplary (100% ) Proficient (90% ) Needs Improvement (70% ) Not Evident (0% ) Value Global Business: Diversity Meets “Proficient” criteria and demonstrates a nuanced understanding of the underlying issues in the environmental factors Explains the influence of environmental issues of diversity on accounting practices Explains the influence of environmental issues of diversity on acco unting practices but explanation lacks depth or detail Does not explain the influence of environmental issues of diversity on accounting practices 30 Global Business: Culture Meets “Proficient” criteria and supports evaluation with accounting principles Evaluates the impact of culture of the chosen country on financial accounting standards around the world Evaluates the impact of culture of the chosen country on financial accounting standards around the world but evaluation is cursory Does not evaluate th e impact of culture of the chosen country on financial accounting standards around the world 30 Global Business: Potential Issues Meets “Proficient” criteria and provides keen insight into the potential issues that may arise when conducting business in the chosen country Evaluates the impact of potential issues on business operations that may arise when conducting business in the chosen country Evaluates the impact of potential issues that may arise when conducting business in the chosen country but evaluation is cursory Does not evaluate the impact of potential issues that may arise when conducting business in the chosen country 30 Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is prese nted in a professional and easy -to- read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submis sion has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that pr event understanding of ideas 10 Total 100%
need help in international accounting
ACC 680 Final Project Guidelines and Rubric Overview There seems to be a general misconception that accountants working in many organizations —such as a local CPA firm or an organization that is not publicly traded —will not be impacted by the concerns of international accounting. Globalization, however, conti nues to shrink the global market into a seemingly smaller playing field, making connections from businesses of any size and location to other businesses even more likely and more cruc ial. Companies that may not have felt the impact of globalization and the se accounting concerns in the past are likely to be feeling them now. This course will approach international accounting concepts and dilemmas critically, examining the differences and impact of conducting business globally. The purpose of the final proj ect in this course is to foster t his critical thinking in regard to key concepts in international accounting. The project will explore the impact of diversity in accounting practices, the differences and impact of generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS), and how international rules and regulations influence business practices. In this assignment , you will demonstrate your mastery of the following course outcomes:  Evaluate diversity in accounting practices for their impact on the effectiveness of financial accounting and reporting in a global economy  Differentiate between generally accepted accounting principles and International Financial Reporting Standards as they apply to the transpa rency and effectiveness of financial statements  Assess the implications of the United States converging with International Financial Reporting Standards by critically evalua ting the impact it will have on financial reporting in a global economy  Analyze the process of international financial statement analysis for its impact on the decision -making process in a multinational organization  Interpret how foreign currency rates impact financial statement creation in accordance with applicable rules and regulation s  Examine the implications of variances in international tax laws on organizational strategy under generally accepted accounting principles and International Financial Reporting Standards reporting requirements Prompt For this project , consider this scena rio: you have worked very hard and have just earned a promotion at Quality CPA firm. As part of your new responsibilities, you will be advising an influential client on their international aspirations. Their business has been booming and they are s eriously considering expanding their operation overseas. They are concerned about the political and financial risks of such an undertaking. You will build a multimedia presentation (utilizing audio, if possible, with speaker notes to elaborate) that addresses the upper management of this company. You will choose a country other than the United States. This country will be presented as a potential destination for the company , although other countries can be included, as the global market is the focus. The presentat ion must explore the company’s potential expansion into the chosen country, the global market in general, and how the expansion will impact their operations. Specifically, the following critical elements must be addressed: I. Global Business : For this part of the assessment, convey to your audience the differences between accounting practices around the world. A. Explain the influence of environmental issues of diversity on accounting practices. B. Evaluate the impact of the chosen country’s culture on their finan cial accounting standards. 1. What accounting principles could help inform your response (i.e., Hofstede’s dimension of culture, Gray’s accounting values, etc.)? C. Evaluate the impact of potential issues on business operations that may arise when conducting acc ounting business in the chosen country. II. Accounting Standards : For this part of the project , explain to your audience the differences between generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) and the imp lications in converging with IFRS. A. Differentiate between the reporting requirements for GAAP and IFRS. B. Given these differences, determine which reporting standard(s) would be most appropriate for your company, given their desire to expand globally and why they would be appropriate. C. Distinguish the disclosure requirements for GAAP and IFRS. D. Given these differences, determine which disclosure standard(s) would be most appropriate for your company given their desire to expand globally , and explain why they would be appropriate. E. Assess the impact that the convergence of GAAP and IFRS will have on investors of companies in the United States and i n the global market. F. Assess the impact that the convergence of GAAP and IFRS will have on firms similar to your company. In other words, h ow will its effect on investors and the global market affect the company ? G. Explain the role of International Accounting Standards Board (IASB) in harmonization . How is the board created? In other words, how does t his support convergence? 1. What are your thoughts on how this may or may not impact your company? III. Global Market : For this part of the project , you will explain to your audience the impact that expanding into the global market will have on your decision -maki ng tools and processes. A. Analyze the potential issues in financial statement analysis when conducting business in the chosen country. B. Make recommendations on how your company could avoid these finan cial statement analysis issues. C. Analyze the international f inancial statement analysis process for potential benefits . In other words, w hat would be the benefits of international financial statement analysis despite the potential issues? IV. International Business Practice: For this part of the project , you will explain the implications of variances in international tax laws on organizational strategy. You will also explain how foreign currency transactions impact financial statement creation in accordance with GAAP . A. Explain how foreign currency exchange rates wil l impact the income potential or financial risk of the company given their expansion into the global market. 1. What will this mean for the income and risk of the company? 2. How will foreign currency exchange rates impact financial statements? B. Make recommendati ons for tools or strategies the company could use to help mitigate these risks. C. Explain the benefits of international tax laws or treaties if your company e xpanded to your chosen country. D. Provide examples of possible tax incentives offered by countries to attract investments or promote exports. E. Explain the tax disadvantages that should be considered by your company and your inv estors when expanding globally. Milestones Milestone One : Global Business In Module Two , you will prepare a draft of the section of your final presentation that covers the topic of global business . Your work should include an emphasis on diversity, culture, and potential issues with conducting accounting business internationally. This milestone will be graded with the Milestone One Rubric. Milestone Two : Accounting Standards In Module Five , you will prepare a draft of the section of your final presentation that covers the topic of accounting standards . Your work should review the different reporting requirements for GAAP and IFRS. From there, you wi ll make a decision about which reporting standard is best for your company as well as which disclosure standards would be most appropriate. You will assess the convergence of GAAP and IFRS , including an exp lanation of the harmonization role provided by IASB. Finally, you will provide an analysis on how IASB impacts your company. This milestone wil l be graded with the Milestone Two Rubric. Milestone Three : Global Market In Module Seven , you will prepare a draft of the section of your final presentation that covers the topic of the global market . Specifically, you will analyze potential issues in financial statement analysis in your company’s country of choice and make a recommendation on how to avoid these issues. You will also weigh the benefits of the international financial statement analysis process. This milestone wil l be graded with the Milestone Three Rubric . Milestone Four : International Business Practice In Module Eight , you will prepare a draft of section of your final presentation that covers the topic of international business practices . You will include an explanation of how foreign currency change rates will impact the company and make recommendations on how to miti gate these risks. You will also touch on the key points of international tax laws, the benefits of tax incentives, and potential tax disadvantages. This milestone wil l be graded with the Milestone Four Rubric . Final Project Submission : International Accounting Presentation In Module Nine , implement the recommended changes or improvements from the three milestone assignments and submit the final project fully com pleted. It should include all previous sections . You will include an explanation of how for eign currency change rates will impact the company and make recommendations on how to mitigate these risks. You will also touch on the key points of international tax laws, the benefits of tax incentives, and potential tax disadvantages. This submission wi ll be graded with the Final Project Rubric (see the next page) . Deliverabl es Milestone Deliverable Module Due Grading One Global Business Two Graded separately ; Milestone One Rubric Two Accounting Standards Five Graded separately ; Milestone Two R ubric Three Global Market Seven Graded separately ; Milestone Three Rubric Four International Business Practice Eight Graded separately ; Milestone Four Rubric Final Submission: International Accounting Presentation Nine Graded separately ; Final Project Rubric Final Project Rubric Guidelines for Submission: Your multimedia presentation must be accompanied by speaker notes and may contain audio if you wish. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more in formation, review these instructions . Critical Elements Exemplary (100% ) Proficient (90% ) Needs Improvement (70% ) Not Evident (0% ) Value Global Business: Diversity Meets “Proficient” criteria and demonstrates a nuanced understanding of the underlying issues in the environmental factors Explains the influence of environmental issues of diversity on accounting practices Explains the influence of environmental issues of diversity on accounting practices but explanation lacks depth or detail Does not explain the influence of environmental issues of diversity on accounting practices 5.4 Global Business: Culture Meets “Proficient” criteria and supports evaluation with accounting principles Evaluates the impact of culture of the chosen country on financial accounting standards around the world Evaluates the impact of culture of the chosen country on financial accounting standards around the world but evaluation is cursory Does not evaluate the impact of culture of the chosen country on financial accounting standards around the world 5.4 Global Business: Potential Issues Meets “Proficient” criteria and provides keen insight into the potential issues that may arise when conducting business in the chosen country Evaluates the impact of potential issues on business operations that may arise when conducting business in the chosen country Evaluates the impact of potential issues that may arise when conducting business in the chosen country but evaluation is cursory Does not evaluate the impact of potential issues that may arise when conducting business in the chosen country 5.4 Accounting Standards: Reporting Meets “Proficient” criteria and demonstrates a nuance d understanding of the differences between reporting requirements in GAAP and IFRS Distinguishes between the reporting requirements for GAAP and IFRS Distinguishes between the reporting requirements for GAAP and IFRS but differentiation is inaccurate or lacks detail Does not distinguish between the reporting requirements for GAAP and IFRS 5.4 Accounting Standards: Reporting Standard(s) Meets “Proficient” criteria and provides keen insight into which standards would be most appropriate for th e company in the given scenario Determines which reporting standards would be most appropriate for the company in the given scenario Determines which reporting standards would be most appropriate for the company in the given scenario but determination lacks depth or detail Does not determine which reporting standards would be most appropriate for the company in the given scenario 5.4 Accounting Standards: Disclosure Meets “Proficient” criteria and demonstrates a nuanced understanding of th e differences between disclosure requirements in GAAP and IFRS Distinguishes between the disclosure requirements for GAAP and IFRS Distinguishes between the disclosure requirements for GAAP and IFRS but differentiation is inaccurate or lacks detail Does not distinguish between the disclosure requirements for GAAP and IFRS 5.4 Accounting Standards: Disclosure Standard(s) Meets “Proficient” criteria and provides keen insight in which standards would be most appropriate for the company in the given scenario Determines which disclosure standards would be most appropriate for the company in the given scenario Determines which disclosure standards would be most appropriate for the company in the given scenario but determination lacks depth or deta il Does not determine which disclosure standards would be most appropriate for the company in the given scenario 5.4 Accounting Standards: Investors Meets “Proficient” criteria and provides keen insight into impact of convergence of GAAP and IFRS on investors in the United States and in the global market Assesses the impact that convergence of GAAP and IFRS will have on investors in the United States and in the global market Assesses the impact that convergence of GAAP and IFRS will have on investors in the United States and in the global market but assessment is cursory Does not assess the impact that convergence of GAAP and IFRS will have on investors in the United States and in the global market 5.4 Accounting Standards: Firms Meets “Proficient” criteria and makes connections between how the impact of convergence on investors and the global market will also inform the impact of convergence on firms similar to the company in the scenario Assesses the impact that conv ergence of GAAP and IFRS will have on firms similar to the company in the scenario Assesses the impact that convergence of GAAP and IFRS will have on firms similar to the company in the scenario but assessment is cursory Does not assess the impact that convergence of GAAP and IFRS will have on firms similar to the company in the scenario 5.4 Accounting Standards: Harmonization Meets “Proficient” criteria and offers opinions on how IASB and harmonization may or may not impact the company in the scenario Explains the role of IASB in harmonization Explains the role of IASB in harmonization but explanation lacks depth or detail Does not explain the role of IASB in harmonization 5.4 Global Market: Potential Issues Meets “Proficient” criteria and provides keen insight into how the process of reviewing financial statements may influence the company in the scenario Analyzes the process of reviewing financial statements for potentials issues when expanding into the global market Analyzes the process of reviewing financial statements for potentials issues when expanding into the global market but analysis lacks depth or detail Does not analyze the process of reviewing financial statements for potentials issues when expanding into the global market 5.4 Global Market: Recommendations Meets “Proficient” criteria and communicates recommendations in a professional manner that is also easy for the client to understand Makes recommendations for how the company in the scenario c ould avoid issues of international financial statement analysis Makes recommendations for how the company in the scenario could avoid issues of international financial statement analysis but recommendations are inappropriate or lack detail Does not make recommendations for how the company in the scenario could avoid issues of international financial statement analysis 5.4 Global Market: Potential Benefits Meets “Proficient” criteria and provides keen insight into the analysis of the international financial statement review process for potential benefits Analyzes the international financial statement review process for potential benefits Analyzes the international financial statement review process for potential benefits but analysis l acks depth or detail Does not analyze the international financial statement review process for potential benefits 5.4 International Business Practice: Currency Exchange Rates Meets “Proficient” criteria and illustrates how foreign currency exchange rates will impact the creation and analysis of financial statements Explains how foreign currency exchange rates will impact income potential and financial risk for the company in the given scenario Explains how foreign currency exchange rates wil l impact income potential and financial risk for the company in the given scenario but explanation lacks depth or detail Does not explain how foreign currency exchange rates will impact income potential and financial risk for the company in the given scena rio 5.4 International Business Practice: Recommendations Meets “Proficient” criteria and communicates recommendations in a professional manner that is also easy for the client to understand Makes recommendations for tools or strategies the company in the scenario could use to help mitigate these risks Makes recommendations for tools or strategies the company in the scenario could use to help mitigate these risks but recommendations are inappropriate or lack detail Does not make recommendatio ns for tools or strategies the company in the scenario could use to help mitigate these risks 5.4 Internati onal Business Practice: Benefits Meets “Proficient” criteria and demonstrates a keen insight into the benefits of international tax laws or treaties that would benefit the company Explains the benefits of international tax laws or treaties for the company in chosen country Explains the benefits of international tax laws or treaties for the company in the chosen country but explanation lacks depth or detail Does not explain the benefits of international tax laws or treaties for the company in the chosen country 5.4 International Business Practice: Tax Incentives Meets “Proficient” criteria and examples demonstrate a keen insight into the tax incentives offered by countries to attract companies Provides examples of possible tax incentives offered by countries to attract companies Provides examples of possible tax incentives offered by countries to attract companies but exa mples provided are inappropriate or vague Does not provide examples of possible tax incentives offered by countries to attract companies 5.4 International Business Practice: Tax Disadvantages Meets “Proficient” criteria and provides keen insi ght into the disadvantages that should be considered Explain s the tax disadvantages that should be considered by the company in the scenario Explain the tax disadvantages that should be considered by the company in the scenario but explanation lacks depth or detail Does not explain the tax disadvantages that should be considered by the company in the scenario 5.4 Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is prese nted in a pro fessional and easy -to-read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 2.8 Total 100%

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