Accounting plays vital role in business and society locally and internationally. The study of international accounting is especially important for multinational companies with operations across national boundaries where reporting is required both in the country of origin and its current location. Three important accounting processes that are affected because of the international dimension of a firm relate to measurement, disclosure and auditing. The differences that may arise because of culture, business practices, political and regulatory structures, legal systems, currency values, local inflation rates, business risks and tax codes influence a firm’s financial reporting and the way business is conducted in the MNCs. This course focuses on the development of international accounting practice in some parts of the world. It also makes comparisons of accounting practices and the related issues arising from the differences mentioned earlier.