Providing appropriate training is critical in small and large organizations. Multinational corporations are faced with many issues related to financial reporting, finance and taxation. A refresher course on these topics would benefit any multinational corporation especially if they have recently expanded into new markets. The following is a summary of topics that could be discussed in such a course:

Foreign Currency Transactions

Accounting issues and alternatives – foreign exchange gains and losses and application of the deferral approach and the accrual approach

Determining the fair Value of derivatives and reflecting the changes in FV on the statements

Forward contracts and hedging specifically hedges of foreign-currency-denominated assets and liabilities.

Translation of foreign currency financial statements including application of the current rate and temporal methods of translation

Discussion of applicable requirements of the International Financial Reporting Standards and the US generally accepted accounting principles

International Taxation

Tax-planning strategies in various tax jurisdictions and key issues related to the foreign tax credits

Examples of applicable tax treaties and ‘treaty shopping’

Available tax incentives including export incentives

International Transfer Pricing

Definition and objectives of international transfer pricing

Advantages and disadvantages of the profit split method, comparable profits method, cost-plus method, resale price method, comparable price method

Harvard University Case Study: https://www.hbsp.harvard.edu/product/W14368-PDF-ENG

This course outline has been suggested by AllaVolodina who teaches in university and corporate settings. AllaVolodina has developed a variety of course outlines for universities (including York University), as well as to enable companies to pick the one that will fit their training needs.  Check out AllaVolodina blog: allavolodina.com.