Accounting for International Operations Self-Study Webinar (10 Hours)


International operations present an additional level of complexity for financial accounting professionals. But this self-study webinar cuts through the maze, providing timely guidance on:

  • Dealing with the ins and outs of establishing operations in foreign countries
  • The Foreign Corrupt Practices Act (FCPA) and the increased scrutiny by the SEC and the Department of Justice
  • Accounting for foreign currency transactions and consolidating foreign subsidiaries
  • Hedging issues and the problems of accounting for derivatives

To gain a solid understanding of US GAAP rules relating to foreign operations and the practical know-how to set up foreign accounting operations in compliance with the Foreign Corrupt Practices Act (FCPA) and IFRS.

  • Accounting for foreign currency transactions
  • Preparing consolidated financial statements that include foreign subsidiaries as mandated by ASC 830 (FAS 52)
  • Determining when hedging is appropriate
  • Meeting the documentation, financial statement presentation and disclosure requirements of ASC 815 (FAS 133) and its amendments
  • Understanding FCPA requirements, including rules relating to the internal accounting control environment
  • ASC 740 (FAS 109) foreign operations problems and overview of foreign taxes
  • Specialized financial statement disclosure requirements related to foreign operations
  • How to set up a new office in a foreign country, including a handy checklist
  • An update on the work of the IASB and the US FASB
  • Sarbanes-Oxley and foreign operations

• Identify the sources of information for general foreign political and economic information

• Identify the sources for information on foreign markets for US goods and services

• Identify basic challenges to operating in a foreign country

• Recognize a common residency threshold for purposes of local taxation in foreign countries

• Recognize common local labor laws applicable to foreign workers

• Recognize the maximum fines under the Foreign Corrupt Practices Act

• Recognize the FCPA’s business purpose test

• Recognize red flags in the context of the FCPA

• Identify the entities subject to the FCPA

• Identify selected SEC enforcement actions under the FCPA

• Recognize the goal of risk management

• Recognize the level from which risk management should be viewed

• Identify the characteristics associated with internal control

• Identify those entities the COSO framework was designed for

• Recognize the general objectives of the COSO framework

• Identify the party responsible for determining the functional currency of the reporting entity

• Recognize the factors determining an entity’s functional currency

• Recognize the circumstances under which an entity would either translate or remeasure its financial statements for the effective functional currency

• Recognize the most common hedges against portfolio exposure

• Identify the overall objective in using derivatives to hedge

• Identify the characteristics of recent ASUs effecting hedge accounting

• Recognize those circumstances causing the termination of hedge accounting


Working knowledge of US GAAP rules.


No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: