International Finance and Accounting

University of Colorado Boulder via Coursera

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Provider

Coursera
Pricing

Paid Course
Languages

English
Certificate

Paid Certificate Available
Duration & workload

9 hours 21 minutes
Sessions

On-Demand
Subtitles

English

Found in

Part of

International Business

Overview

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This course provides a thorough introduction to international finance and accounting — the nervous system of global business! You will begin by exploring the global financial system and important topics in financial management, including cross-border payment methods, tax planning, and transfer pricing. You will then cover the fundamentals of the foreign currency exchange (forex) market, addressing its size, scope, and key risk management "hedging" strategies. Next, you will turn to international financial accounting, with a comparative look at GAAP and IFRS accounting standards. Finally, the course discusses international accounting management, focusing on tax and forex accounting and the importance of strong international accounting systems. Upon completion of the course, you will be empowered with actionable expertise in international finance and accounting management! This course is designed to benefit anyone engaged in or curious about international business, especially those interest in foreign currency exchange, international finance, or cross-border transactions. Only a basic understanding of business concepts is required; key topics are briefly reviewed to accommodate participants with diverse backgrounds. This approach ensures that anyone interested in international business can participate confidently and succeed in the course.

Syllabus

Introduction to International Finance and Accounting

This course provides a thorough introduction to international finance and accounting — the nervous system of global business! You will begin by exploring the global financial system and important topics in financial management, including cross-border payment methods, tax planning, and transfer pricing. You will then cover the fundamentals of the foreign currency exchange (forex) market, addressing its size, scope, and key risk management "hedging" strategies. Next, you will turn to international financial accounting, with a comparative look at GAAP and IFRS accounting standards. Finally, the course discusses international accounting management, focusing on tax and forex accounting and the importance of strong international accounting systems. Upon completion of the course, you will be empowered with actionable expertise in international finance and accounting management! This course is designed to benefit anyone engaged in or curious about international business, especially those interested in foreign currency exchange, international finance, or cross-border transactions. Only a basic understanding of business concepts is required; key topics are briefly reviewed to accommodate participants with diverse backgrounds. This approach ensures that anyone interested in international business can participate confidently and succeed in the course.

International Finance

In this module, you will explore the broad field of international finance. You’ll start by examining the key differences between international and domestic finance. Next, you’ll gain an overview of the dynamic, self-regulating International Financial System, and assess the crucial roles played by various financial and governmental institutions within this system. You will then dive into the mechanics of cross-border payments, discovering the wide range of methods used to conduct international transactions—spoiler: it’s much more than just writing a check. Finally, you’ll look at the vital responsibilities you may face as an international financial manager, including handling international payments, dealing with complex and varied local tax regulations, and setting appropriate transfer prices for intra-company shipments in multinational organizations.

Foreign Exchange

Foreign exchange risk can have a huge financial impact on your foreign operations, especially across global supply chains. In the first lesson, you’ll define money and currency, and then explore the details and examples of foreign currency (forex) transactions. In the second lesson, you’ll dive into foreign exchange risk, often called forex exposure. You’ll discover how any business or organization involved in international transactions is vulnerable to translation, transaction, and operating forex risk. Through real examples, you’ll see just how significant the negative effects of forex risk can be. If you’re dealing with cross-border currency transactions, you need to stay alert—and cautious—when it comes to foreign exchange risk!

Managing Forex Risk

In the previous module, you explored three types of foreign exchange (forex) risk and looked at examples of their potential financial impacts. Now, you might be wondering, “OK, I get it, but what do about them?” In this module, you’ll find answers to this question as you delve into a range of forex hedging techniques. You’ll learn how hedging methods can help you reduce your financial risk. For forex risk specifically, you’ll discover both non-financial hedging approaches—such as cash flow netting—and financial hedging options like forwards, swaps, futures, and options. In the second lesson, you’ll also get a closer look at the global financial markets where foreign exchange and hedging transactions take place.

International Accounting

In this final module of the course, you’ll discover the critical role international accounting plays within a multinational company. You’ll start by comparing and contrasting the two dominant sets of international accounting standards—IFRS and GAAP—and their associated auditing standards, IASB and GAAS. Next, you’ll review the principal activities that take up the time of international financial managers, such as forex accounting and tax accounting. Finally, you’ll explore the trends that are reshaping the responsibilities and the evolving role of international accountants in the 21st century.