Accounting for international operations can be extremely complicated. There is a confusing array of international, national and local regulations and standards that have to be met, along with a huge number of policy decisions that must be made.
Here is your opportunity to receive up-to-the-minute knowledge of the latest developments, best practices and strategies for dealing with international accounting, tax, currency and financial planning issues from our unique team of financial executives from international companies, Big 4 leaders and regulators.
• International operations accounting challenges
• Recent international accounting developments
• Mechanics of preparing consolidated financial statements
• The ethics and disclosure process in an international environment
• Transfer pricing issues
• Managing the global contracting process
• International cash and bank management
• Accounting for foreign currency transactions and hedging activities
• Local statutory GAAP vs. US GAAP vs. IFRS
• SOX process: internal controls
• Training/policies and field inspection
WHO SHOULD ATTEND
CFOs, controllers, directors and any accounting, tax or finance professionals who work for multinational companies or any company that has international operations. It is also ideal for accountants and consultants who serve these companies.
LEARNING OBJECTIVE To update financial professionals who deal with international operations on the latest developments, best practices
and strategies for handling international accounting, tax and financial planning issues.
PREREQUISITE None. ADVANCE PREPARATION None. PROGRAM LEVEL Update. NASBA FIELD OF STUDY Accounting.
DELIVERY METHOD Group-Live.
This program is also available via live webcast
Webcast - International Operations Accounting Conference 2013: Current Trends in Accounting, Tax & Financial Planning Strategies
DAY ONE AGENDA
Deluxe Continental Breakfast & Registration
8:00 – 8:45 AM
Welcome & Opening Remarks
8:45 – 9:00 AM
Setting the Tone: Challenges of International Operations Accounting
9:00 – 9:30 AM
This keynote presentation will highlight the many special challenges faced by financial professionals dealing with international operations due to the rapidly changing global environment, including currency fluctuations, international debt crisis, differing accounting standards, changing regulations and more.
Recent Accounting Developments
9:30 – 10:45 AM
• FASB/IASB projects update
• SEC recent developments
• PCAOB update
10:45 – 11:00 AM
Mechanics of Preparing Consolidated Financial Statements
11:00 AM – 12:30 PM
• What consolidation platforms does your company use?
– General ledger
– A consolidations tool
• Consolidation process controls
• Best practices
12:30 – 1:30 PM
The Ethics & Disclosure Process in an International Environment
1:30 – 3:00 PM
• Ethics process for international units
• FCPA and other relevant regulations
3:00 – 3:15 PM
Transfer Pricing Issues
3:15 – 5:00 PM
• Update on the latest developments in transfer pricing from case laws and regulatory announcements
• Identifying risks associated with transfer pricing strategies
• Determining likelihood of attack by global tax authorities
• Reducing taxes, avoiding controversies and protecting the organization
• Tax planning steps to save money now and in the future
5:00 – 6:00 PM
DAY TWO AGENDA
Deluxe Continental Breakfast
7:45 – 8:30 AM
8:30 – 8:45 AM
Managing the Global Contracting Process
8:45 – 9:45 AM
• Controls of pricing issues, litigation issues, etc.
• Roles and responsibilities: accounting, tax and legal
International Cash & Bank Management
9:45 – 10:30 AM
• Roles and responsibilities: treasury, accounting and tax
• Treasury: cash movement and bank account control
• Accounting: records management and bank reconciliation
10:30 – 10:45 AM
Accounting for Foreign Currency Transactions & Hedging Activities
10:45 AM – 12:15 PM
A panel featuring financial professionals from international companies will reveal how their companies profitably run their foreign currency transactions and hedging processes, including internal controls and best practices for managing currency transactions.
12:15 – 1:15 PM
Local Statutory GAAP vs. US GAAP vs. IFRS
1:15 – 2:45 PM
A panel featuring financial executives from international companies will provide you with firsthand guidance on dealing with the local accounting requirements in different countries. They will share with you how their companies effectively deal with maintaining different accounting books, critical control processes, local statutory reporting, tax filing and other responsibilities.
2:45 – 3:00 PM
SOX Process: Internal Controls
3:00 – 4:00 PM
• SOX requirements and process controls for international units
– Key vs. non-key controls
– SOX 404 scoping for international units
• Coordination with key stake holders, including internal audit and external auditors
• Disclosure process controls
Training/Policies & Field Inspection
4:00 – 4:45 PM
A panel of financial executives from international companies will share with you how their companies train and monitor their financial professionals in international locations, support them, establish corporate policies and conduct field inspections.
Jay T. Chu, CA, CPA, is Director of Internal Controls and Accounting Operations at Xerox Corporation. He is responsible for the corporation’s internal control programs and field accounting. The corporation’s accounting operations group is responsible for ensuring the application of the business unit accounting policies, practices and procedures worldwide, as well as the direct management of most operating unit accounting programs in major areas including treasury accounting operations. Their internal controls group manages the Sarbanes-Oxley project management office, internal controls programs and the direct management of internal control managers located in all major countries. Mr. Chu served in financial planning, accounting, field finance, sales operations and marketing positions in Canada prior to his assignment at Xerox Corporate headquarters in Stamford, Connecticut.
Chad Chevalier, Assistant Controller, Mead Johnson Nutrition
Judy Croxford, Director of Ethics, Xerox Corporation
Erin Devine, Senior Manager, Retail and Consumer, PwC
Dennis Ethier, Assistant Controller, Xerox Corporation
Michael Flaherty, JD, Partner, WTP Advisors
Dan Gentzel, Director, Hedge Accounting Solutions, Chatham Financial
John Liang, Director, Transaction Services, PwC
Susan Markel, Managing Director, AlixPartners, LLP, former Chief Accountant, Division of Enforcement, SEC
Bob McDonough, Vice President, Corporate Tax, Nuance Communications
Tina Pantaleo, Director, Transaction Services, Capital Markets and Accounting Advisory
Thomas Peyton, Manager, Reporting Systems, Alcon, Eyecare Division of Novartis AG
Cean Tan, Director, Derivatives Accounting, Reporting and Accounting Innovation, Sun Bank
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