BMGT8114, also known as Accounting in the Global Era, is a dynamic course offered by Capella University. This course explores the complexities of accounting in the global business environment, focusing on international financial reporting standards, cross-border transactions, and the implications of globalization on accounting practices. Through BMGT8114, students gain a comprehensive understanding of the challenges and opportunities associated with accounting in the global era.

Course Overview:

Accounting in the Global Era encompasses a wide range of topics related to international financial reporting and the convergence of accounting standards across countries. The course aims to equip students with the necessary knowledge and skills to navigate the complexities of global accounting practices and understand the impact of international financial reporting on business decision-making.

Key Topics Covered:

1. Globalization and Accounting:
   • Understanding the impact of globalization on accounting practices
   • Exploring the drivers and challenges of international financial reporting harmonization
   • Comparative analysis of accounting systems across different countries
2. International Financial Reporting Standards (IFRS):
   • Overview of the International Financial Reporting Standards (IFRS)
   • Comparing IFRS with national accounting standards (e.g., US Generally Accepted Accounting Principles – GAAP)
   • Understanding the convergence efforts between IFRS and GAAP
3. Accounting for Cross-Border Transactions:
   • Multinational corporations and their accounting challenges
   • Foreign currency translation and hedging strategies
   • Consolidation of financial statements for global subsidiaries
4. Global Corporate Governance and Ethics:
   • Corporate governance models across different countries
   • Ethical considerations in international financial reporting
   • The role of regulatory bodies in ensuring transparency and accountability
5. International Taxation and Transfer Pricing:
   • Tax implications of global business operations
   • Transfer pricing strategies and their impact on financial reporting
   • Anti-avoidance measures and international tax regulations