Department Welcome
International Accounting and Finance Department
Head of Department Welcome Message
Welcome to the International Accounting and Finance Department.
The Department was founded in 2022. It aims to produce leaders who increase the competitiveness of their organizations through effective analysis and communication of financial accounting information for decision making. The department aims, through dynamic and continuous improvement of curricula, to prepare students for graduate studies, professional certifications, and diverse career opportunities, nationally, regionally, and internationally. Moreover, the graduates will be endowed with high ethical standards to act in a socially responsible manner.
The Department reviews its academic plan on a regular basis so that the plan takes into consideration any new developments in society needs and in market demands. This also contributes in improving the competitiveness of the Department's graduates in the labor markets.
Finally, the Department includes faculty members who have received their degrees from distinguished universities and in different areas of accounting and finance. They are also keen in participating in local, regional, and international conferences and publishing in international Journals.
Upon graduation from the department, graduates are eligible to apply for admission to Master’s degree program in Accounting and Finance or any related field. Moreover, students are poised for entry level positions in financial management, commercial and investment banking, External and Internal Auditors, Tax Accountant, and many more.
Program Description Paragraph
The International Accounting and Finance Department provides students with the theoretical knowledge and practical skills to be innovative, well-informed, and experienced accounting and finance professionals. The Department will equip the students with the intellectual skills they need to work in the dynamic, fast-changing financial and accounting services industry. Moreover, the Department will equip the students to meet the main professional certificates such as CPA and CMA, which are internationally recognized. Through case studies, real-life projects, field trips, and internships, students with a degree in Accountancy and Finance acquire a solid foundation in accounting and finance while applying key concepts and theories in and out of class.
Introduction Video for International Accounting and Finance
See what we have to offer in this exclusive welcome video.
Academic Members
List and details of academic members of the department.
Study Plan
Details about the study plan and curriculum.
Course Curriculum: 133 Credit Hours
Guidance Plan
Guidelines and plan for student guidance.
Course Curriculum: 133 Credit Hours
List of Competencies
International Accounting and Finance - List of Competencies
- Knowledge:
- A1-Demonstrate a solid understanding of International Accounting Standards and best practices.
- A2- Ability to assess -in-depth- the various relevant issues related to financial risk factors at personal, organizational and social levels.
- A3- Ability to articulate and explain technical and conceptual issues in relation to solving real-life risk events using a range of accounting and financial management strategies and applications.
- A4- Demonstrate an understanding of the potential critical risk that various organizations could face.
- Thinking skills:
- B1- Ability to analyze past, present and future events using the best available information, tools and techniques.
- B2- Demonstrate an adequate understanding of the use of different numerical and quantitative methods related to accounting and financial analysis.
- B3- Demonstrate an understanding of the various interactions between humans and systems.
- B4- Demonstrate an ability to propose different meaningful future scenarios according to the currently –available resources.
- Practical Skills:
- C1- Utilize the skills gained from studying accounting and financial functions to enhance decision making.
- C2- Demonstrate an ability to deploy International Standards and best practices of Accounting and Finance in business organizations.
- C3- Demonstrate an ability to provide advice for business organizations on how to improve their accounting and financial practices.
- Communication skills:
- D1- Demonstrate debating skills in aspects related to accounting and financial systems and an ability to communicate with media and other local authorities about various threats.
Course Description
Detailed descriptions of the courses offered.
| 507101 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | - | - | |
| This course enhances students' knowledge of basic theory and practice concepts of accounting for service and merchandising businesses. It introduces the concepts of accounting, accounting principles, assumptions, accounting equations, recording, posting, summarizing, and communicating the financial information related to business transactions based on a double entry system. The course develops students' interpersonal skills in the measurement of business income (revenue and expenses) and financial position (assets, liabilities, equities), and prepares the students to apply quantitative and qualitative concepts in the accounting cycle for service and merchandising businesses. Students' creative and critical skills will be exposed to the International Financial Reporting Standards (IFRS). | ||||
| 507102 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | - | - | |
| This course provides an overview of business financial management. Emphasis is on financial statement analysis, time value of money, management of cash flow, risk and return, and sources of financing. Upon completion, students should be able to apply practical skills to interpret the principles of financial management and this will enhance their communication skills related to trending issues in the world nationally and internationally. | ||||
| 507112 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507101 | - | |
| This course is considered as an extension of Principles of Accounting (1). It is designed to provide a complete picture of financial accounting. It includes: Accounting for receivables, inventories, cash, accounting problems relating to long-lived assets, and short-term liabilities. | ||||
| 507211 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507102 | - | |
| This course is an in-depth analysis of financial considerations relating to maximizing the value of a corporation. Major topics include evaluation of a firm's financial performance, financial forecasting, corporate securities and financing the long-term requirements of the firm, cost of capital, debt levels and capital structure choice, pay-out policy, and evaluation of alternative methods of financing. | ||||
| 507212 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507112 | - | |
| This course is designed to give you a deeper appreciation and understanding of financial accounting as you are introduced to the international financial reporting standards (IFRS). Topics include accounting theory and practice, the conceptual framework of United States (U.S.) generally accepted accounting principles (GAAP). It also includes issues related to measurements of the elements of financial statements; Students learn to prepare the income statement and irregular items, the balance sheet, a statement of retained earnings, the cash flow statement according to international financial reporting standards (IFRS). | ||||
| 507231 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 0507211 | - | |
| This course is the second in a two course sequence (Intermediate Accounting I and Intermediate Accounting II) that provides for the preparation and understanding of financial information. Intermediate Accounting II includes topics tested on the Financial Accounting and Reporting (FAR) section of the CPA exam. This course is part of the CPA Exam Preparation Series, which is intended to meet the education requirement to sit for the CPA exam. Topics covered are in the globe age and relatively more complex and more detailed. Topics include Acquisition and Disposition of property, Plant and Equipment, Depreciation, Impairments, and Depletion, Intangible Assets, Revenue Recognition, Accounting for Leases and Accounting Changes and Errors Analysis. | ||||
| 507241 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507211 | - | |
| This course is designed for business graduates whose core areas of interest are international financial accounting and taxation. This course introduces the federal income tax structure and Jordanian income tax law, emphasizing the individual taxpayer, including employees, sole proprietors, and investors. This course also provides exposure to basic concepts that apply equally, or with slight modification, to taxpayers other than individuals. The course will also cover the financial concepts and mechanisms that affect Companies in an international environment. Foreign currency management and hedging. Capital structure, financing and cost of capital for Multinational Companies (MNC). | ||||
| 507321 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507112 | - | |
| To build accounting students' knowledge and skills of the tools, processes and techniques management accountants use in providing different management reports and in supporting various managerial decisions in service and manufacturing organization. Issues introduced in this course include: Cost behavior, cost classification, cost accumulation, job-order costing, process costing, cost allocation, income statement of manufacturing companies and activity based costing. Moreover, this course provides an introduction to management accounting, profit planning and budgeting, flexible budgets, divisional performance measurement, and differential analysis. | ||||
| 507331 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507211 | - | |
| This course introduces accounting and finance students to accounting fundamentals for financial institutions such as banks, companies, and insurance companies. This course also enables the candidate to understand the Islamic Banking operating system deeply. It is designed to introduce students to basic issues in Islamic Accounting, Accounting treatment for Islamic banking services including understanding the difference between conventional accounting and Islamic accounting, the features of the Islamic financial systems and the accounting of transactions, apply the concepts of uniformity and disclosure to financial statement preparation and analysis as perceived and stated by Sharia code, contemporary Islamic applications of financial market instruments. | ||||
| 507332 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507112 | - | |
| This course aims at equipping students with the initial knowledge related to auditing and assurance services. It focuses on the role, importance and demand for different types of auditing, CPA profession and professional responsibilities and ethics. Besides, this course illustrates the auditor's objectives, responsibility and liability in professional and legal settings to investigate frauds, and auditor's role in resolving litigations and conflict resolutions. In addition, this course introduces the auditor's civil and criminal legal liabilities and illustrates the litigious environment in which CPAs practice and other aspects of forensic accounting. Furthermore, this course explains different types of audit reports and audit risks. Further, it discusses types of audit evidence and audit planning. Likewise, it introduces the International Standards on Auditing (ISAs) and the role of the International Federation of Accountants (IFAC). | ||||
| 507341 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 2 | 2 | 507211 | - | |
| This course explains the role of money in the economy and the main core principles of money and the financial system. It also describes how capital markets operate and thoroughly examines the features and characteristics of the wide array of securities traded in the market and the different types of markets including the money, capital, Eurodollar bonds foreign bond stock, derivative markets and the globalization of these markets. The topics of equities, fixed income securities and derivatives are focused on throughout the course. Students will apply some information by using a computer in the lab. | ||||
| 507342 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507211 | - | |
| This course provides an introduction to the management of financial institutions and intermediaries. The course focuses on the importance of ensuring good organizational functioning within institutions to manage the varied types of risk that they may be exposed to. The course examines the principles of the theory and practice of defining and measuring various types of risk these institutions can be exposed to, and effective policies for successful risk management. | ||||
| 507345 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 2 | 2 | 0507212 | - | |
| The course objective is to provide students with the fundamental methods and relevant theories to evaluate the company's performance and financial securities. This course examines performance evaluation from accounting and financial perspectives. It focuses on finance and accounting concepts and practice. The course deals with the Financial statement analysis information and the use of this information for business analysis, such as analyzing a company's business environment, its strategies, and its financial position and performance, accounting analysis that's to help improve risk assessment, forecasting, and for decision-making purposes. These business decisions extend to equity and debt valuation, credit risk assessment, earnings predictions, audit testing, compensation negotiations, and countless other decisions. Students will apply some information by using a computer in the lab. | ||||
| 507346 | 0 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 2 | 2 | 0507211 | - | |
| This course highlights current issues in information systems with an emphasis on practical application. Also, other issues are covered such as: design and operation of accounting systems; relevance of data processing and statistical methods to the system of financial information and control. This course creates a framework for accounting information systems by combining knowledge about business as it relates to information systems, information technology, and accounting. Students will examine the REA (Resources, Events, and Agents) enterprise ontology as it relates to databases which can be used to store and retrieve information for decision-making within an organization. Students learn that in competitive organizations of today, and tomorrow, accountants cannot simply prepare and report information; they must take a more active role in understanding and creating systems and processes that impact the organization's bottom line. Students will apply information by using a computer in the lab. | ||||
| 507347 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507211 | - | |
| The course covers the current best practices in corporate financial management including financial planning and working capital management. In addition, the course also introduces topics on lease financing, hybrid securities and derivatives, trust funds, mergers and acquisitions and international corporate finance. | ||||
| 507348 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 2 | 2 | 507211 | - | |
| The aim of this course is to expose students to the theory and practice of managing investment portfolios and measuring their performance. It covers the types of orders and investment strategies in the capital markets internationally and domestically. The main part of the course concerns equity markets. It covers individual security selection and valuation in the process of constructing portfolios and the effects of international and domestic diversification on the risk and return of these portfolios. It focuses on analytical tools and their applications in optimal asset allocation with respect to investment aims in the financial sector. Measuring risk and return, the capital asset pricing model (CAPM), and the study and evaluation of mutual funds' performance as an application of the portfolio management tools are major focuses of this course. It provides a lasting conceptual framework for viewing the investment process and analyzing future ideas and changes in the investment environment. Students will apply some information by using a computer in the lab. | ||||
| 507412 | 0 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | - | - | |
| This course provides in depth analysis topics built on the foundation of Intermediate Accounting (IFRS). Topics covered are in the globe age and relatively more complex and more detailed. Topics include Non-Current Liabilities, Stockholders' Equity, Dilutive Securities and Earnings Per-Share, Investments, Statement of Cash Flows and Full disclosure in financial reporting. All of the above topics tested on the Financial Accounting and Reporting (FAR) section of the CPA exam. This course is part of the CPA Exam Preparation Series, which is intended to meet the education requirement to sit for the CPA exam. | ||||
| 507420 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507231 | - | |
| The purpose of this course is to provide comprehensive coverage of the accounting and reporting principles used in a variety of business entities. This course covers advanced accounting topics in depth including Business combination, Stock investments- Investor Accounting and reporting, consolidated Financial Statements, Consolidation Techniques and procedures, Intercompany profit Transactions- Inventories, Intercompany profit Transactions- Plant Assets, Upstream and Down Sales, international accounting and Foreign Currency Financial Statement. | ||||
| 507421 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507332 | - | |
| This course is a continuation of Auditing and Forensic Accounting. Therefore, it focuses on Planning and fieldwork aspects of auditing in conjunction with the International Standards on Auditing. In particular, it illustrates different stages of audit planning and materiality requirements (ISA 300) and material misstatements (ISA 315). It focuses on different types of risks (inherent risk, control risk, planned risk, and accepted audit risk) (ISA 330) and audit sampling (530). Further, this course illustrates audit documentation requirements (ISA 230). In addition, this course illustrates internal controls frameworks and auditor's responsibilities for evaluating and reporting on internal control. Besides, this course illustrates the application of such requirements on a selected transaction cycle for example test of controls and substantive tests related to sales and collection cycle. Finally, this course illustrates the requirements of forming an auditor's opinion (ISA 700). | ||||
| 507425 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507112 | - | |
| This course discusses accounting issues in a globe age by illustrating accounting issues and treatments resulting from globalization and internationalizing economic activities. In particular; it discusses the factors contributing to the importance of international accounting and the differences in accounting systems and practice across countries and the environmental factors contributing to such differences, and appropriate classification to handle this issue. In addition, it illustrates accounting treatment to deal with such issues such as the translation of foreign financial statements and adjusting for the differences in accounting treatments across countries. In addition, it illustrates the accounting treatments for foreign currency transactions and FX accounting and FX risk-hedging instruments accounting. In addition, it provides comparison of disclosure practices among some major economies and harmonization and standardizations experiences and applying IFRSs. | ||||
| 507431 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 505103 | - | |
| This course introduces the student to the environment of international finance and its management. The topics covered include the foreign exchange market; foreign exchange risk management; international parity conditions; currency forecasting; international financing; international financial markets; multinational working capital management; international investment management; political and country risk analysis; multinational capital budgeting; currency futures and options; and financial innovations. | ||||
| 507491 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | Completion of 90 Cr Hrs. | - | |
| The aim of practical training is to enable students to practice the learned theories and concepts within a business organization. Students from any business discipline undergo a training that is closely monitored by an instructor and the management/supervisor of the organization to ensure that the student cultivates the sound professional attitudes and ethics needed in the workplace. | ||||
| 507499 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | Department Approval+ Completion of 99 Cr. Hrs. | - | |
| This course takes the form of a dissertation carried out by graduating students in partial fulfillment of the BSc in Accountancy and Finance. The course is designed to train students to undertake scientific research and bridge the gap between theory and practice in accounting and finance. Students choose an appropriate research project, justify it, develop it, develop their research methodology and analyze, synthesize and evaluate information, then communicate significant knowledge and understanding. The research should be related to the program. An academic advisor is assigned to advise the students at various stages of the project. | ||||
| 507251 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 505103 | - | |
| The main goal of the "International Economics" course is to introduce students to both classical and modern theories of international trade in goods and services. The course begins with an introduction to International Economics. Next, it introduces a framework for learning about tools of analysis for international trade models. We then turn our attention to tariffs & nontariff barriers and arguments for and against protection. International trade and economic growth will be covered as an important topic. We, then, will elaborate major topics in the balance of payments, the foreign exchange market, and international monetary systems. The final section of the course provides an introduction to some of the more advanced topics in international banking, debt and risk. | ||||
| 507261 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 2 | 2 | 507211+903182 | - | |
| Excel-based financial modelling is a core required skill for professional areas such as Corporate Development, Investment Banking (Mergers & Acquisitions, equity research, equity and debt capital markets), risk management, asset management, treasury, and other financial areas. This is due to the fact that decisions in a business context need to be transparent and supported by profound financial analysis. Therefore, the main objective of the course is to acquire the ability to successfully build and apply basic financial models that can be used in corporate financial decision making processes. Students will apply some information by using a computer in the lab. | ||||
| 507271 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 0505101 | - | |
| This course explores the principles of risk management faced by an individual or firm and the various methods for their treatment include insurance. The course provides an understanding of the foundations, applications and selection of insurance. Fundamentals of life and health insurance as well as property and liability insurance will be included. Enterprise risk management for corporations, financial risk management. | ||||
| 507281 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 903103 | - | |
| Financial Mathematics is a building block to learners in the field of finance. The topics expose the user to fundamental concepts such as cash flows, present value, future value, yield and probability that form the basis for further advanced learning. | ||||
| 507351 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 2 | 2 | 0507102 | - | |
| This course presents and analyzes the main kinds of financial derivatives, covering the basic properties and the pricing fundamentals of futures, options and swaps. It also explores trading and hedging strategies involving financial derivatives. Finally, time permitting special topics such as exotic options and credit derivatives are explored. The course also shows how derivatives are used to achieve various hedging and speculating objectives, introduces a framework for pricing derivatives, and studies several applications of derivative-pricing techniques outside derivative markets. It lays the ground for a rigorous risk management course and other advanced quantitative courses, such as stochastic finance. Students will apply some information by using a computer in the lab. | ||||
| 507352 | 0 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | - | - | |
| This course covers the topic of managing the banking sector and e-banking and security. It involves the examination of the banking structure and current regulatory environment taking into consideration the main risks which may threaten the stability of the system, and some techniques to prevent these risks such as the bank governance system and the role of Basel Accords in regulating the banking system. | ||||
| 507424 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507212+507211 | - | |
| As a research oriented course, this course explores contemporary issues that accounting and finance professionals will face in the foreseeable future including related theories and empirical findings. Such issues include fair value measurements, international risk management and governance, earnings management, financial tech and block-chain and digital money, sustainability and environmental accounting, capital markets based research in accounting (CMBRA), accounting information usefulness in investing and credit decision. | ||||
| 507434 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507231 | - | |
| This course provides theoretical and conceptual foundation of accounting by illustrating the nature of normative and positive accounting theories; for the normative theories, this course discusses theoretical and empirical evidence of the usefulness of alternative accounting methods employing the conceptual framework case and the case of accounting for changing prices. It illustrates different types of normative accounting theories such as true income theories and decision usefulness theories. In addition, it discusses the nature and usefulness of financial statements. For the positive accounting theories, it discusses the bonus hypothesis and debt covenant hypothesis to explain earnings management and illustrates theoretical and empirical evidence to explain earnings management. Besides, this course introduces the capital markets based research in accounting (CMBRA) and its role in accounting theorization. In addition, this course discusses some methodological notions such as deductive vs. inductive reasoning in accounting research. | ||||
| 507435 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507211 | - | |
| This course will give you a broad and solid introduction to the basics of real estate finance and investment. This course examines the process and techniques of analyzing real property as an investment medium as well as the effects of market conditions and government policies upon real estate investment. This course examines the fundamentals of real estate finance and development from a legal perspective. It serves as a foundation course for real estate majors and provides an introduction to real estate for other students. It attempts to develop skills in using legal concepts in a real estate transactional setting. The course will be of interest to students contemplating careers in accounting, real estate development, real estate finance, city planning, or banking. And understand the origination process of commercial real estate loans. | ||||
| 507436 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507211 | - | |
| Behavioral Finance is considered by many to be one of the most important emerging topics in finance. The purpose of this course is to provide an understanding of the behavioral biases that individual's exhibit and the effects of these biases on financial markets domestically and internationally. Standard finance theory assumes that individuals such as investors or financial managers are rational expected utility maximizers. Behavioral finance argues that some financial phenomena can be better understood admitting that some investors are not fully rational and arbitrageurs have limits to how aggressively they could trade, and how this may affect the international and domestic markets. A number of stock market anomalies will be presented and analyzed. | ||||
| 507437 | 3 CH. | Prerequisite | Co-requisite | |
|---|---|---|---|---|
| 3 | 0 | 507332 | - | |
| This course will serve as a general introduction to professional ethics in the accounting and financial environments. It discusses the fundamental ethical theories and ethical issues in business, the professional and social responsibilities of the accountants and auditors, and ethical behavior by management. | ||||
Program Learning Outcomes
International Accounting and Finance Program Learning Outcomes
Student learning outcomes describe what students are expected to know and be able to do by the time of graduation. By the time of graduation, the International Accounting and Finance Department's program must enable students to attain an ability to:
PLO1. Select and apply appropriate accounting and financial management techniques to organizational business planning, decision-making and control.
PLO2. Prepare financial statements of entities, including groups of companies, using relevant financial information, accounting techniques and standards, and analyze and interpret such financial statements.
PLO3. Use relevant management accounting techniques with cost information, for planning, decision-making, performance evaluation and control, within different business settings.
PLO4. Apply international accounting standards, international financial reporting standards and international auditing standards in business organizations ethically and responsibly.
PLO5. Communicate the analysis of financial information and recommendations to a variety of different audiences
PLO6. Examine practical, theoretical and ethical issues associated with the use of different methodologies, paradigms and methods of analysis.
PLO7. Demonstrate the ability to use appropriate software and apply technology to accounting and finance to complete business-related tasks and requirements.
PLO8. Demonstrate the ability to create and maintain positive customer relations by understanding the practices fostering customer retention and loyalty.