Many of the topics in an international accounting unit have a domestic counterpart. However, new factors and complications arise in the international arena. Some of these are (1) diversity of laws, practices, customs, cultures, and competitive circumstances; and (2) risks associated with fluctuating exchange rates, differential rates of inflation, and unstable property rights. International accounting discusses issues from the perspective of companies that have internationalised their finance and/or their operations. It has a comparative aspect, comparing accounting across countries. It deals with corporate reporting and disclosure across national boundaries. It also deals with the harmonisation of the worldwide diversity in financial reporting, in particular, convergence around International Financial Reporting Standards. It discusses foreign currency translation, a consolidations issue that arises from multinational operations. Finally, it aims to introduce the key issues relevant for undertaking cross-border analysis of financial statements.

This unit is taken by students accepted into the U.S.A. Industry Placement Program while they undertake a professional placement with a business, government or nongovernment organisation that has a particular focus on business interests. It includes preparatory coursework in reflective, professional practice and concurrent coursework on research methods, report and other professional writing skills. Assessment includes a reflective journal, research report related to the work placement, and oral presentations all based on the internship placement and international work and study experience.

This unit is taken by students accepted into the Europe Industry Placement Program while they undertake a professional placement with a business, government or non-government organisation that has a particular focus on business interests. It includes preparatory coursework in reflective, professional practice and concurrent coursework on research methods, report and other professional writing skills. Assessment includes a reflective journal, research report related to the work placement, and oral presentations all based on the internship placement and international work and study experience. Further information and application process is outlined at http://sydney.edu.au/business/study/opportunities/industry_placement_program

Globalisation enables successful businesses to tap into the international economy to find new and bigger markets for their goods and services. Entering the global marketplace also means greater risk, as businesses deal with new customers, and are forced to operate in unfamiliar legal environments where the "normal" rules of business often don't apply. This unit aims to provide students with an understanding of how the global economy is regulated (if at all), and to provide the tools needed to use international business law to minimise the risks of doing business in the global economy. Questions addressed include: What is international business law and what do I need to know?; What institutions ensure a level playing field for my business?; How do I make an agreement to sell my goods to foreign customers?; How do I protect those goods in transit?; How do I ensure payment for goods and services I provide?; How do I build a presence in a foreign market through local agents and distributors?; What considerations apply to entering and borrowing from foreign capital markets?; How can I safely do business online in the global virtual economy?; What if things go wrong?; and How do I fight foreign disputes by my rules and in my court?

China has recently become the second biggest economy in the world and is Australia's most important trading partner. Australian businesses are increasingly engaging with China. This unit addresses the frequently asked question of how to do business with China. It addresses China's unique business environment which has resulted from its unique culture, history and demography, and examines the business regulations, tax system, and the administrative and compliance issues businesses will face when carrying on business with China. The unit first outlines the business environment in terms of culture, history, economics, demography, and government administration. It then provides students with an understanding of the legal environment that businesses will face in China. Through a hypothetical case study, different aspects of business regulation such as contract, entity structure, mergers and acquisition, property and intellectual property rights, the tax system, different tax types and associated international issues, and social insurance are analysed.

Taxation strategy of an international business has significant impact on not only the overall financial performance of the enterprise, but also the quantum of tax revenue that governments can collect. The increasing globalisation and integration of operations of multinational enterprises, together with the ingenuity of the army of tax advisors, provides ample opportunities for international tax planning. This unit introduces students to international tax principles and practices. Students will learn how the international tax rules are implemented in practice, and tax strategies that international businesses can adopt to minimise their global tax liabilities. Case studies on major multinational enterprises, such as Apple and Google, will be used to analyse and evaluate the international tax rules and business tax strategies. This unit will cover the fundamental residence and source principles, the taxation of inbound and outbound investments, the taxation of international finance, and common international tax strategies of multinational enterprises, including tax arbitrage between tax rules of entity classifications, the tax treatment of debt and equity, and transfer pricing.

In our highly globalised and integrated world economy, understanding international dimensions of financial management is essential for businesses. This unit provides a greater understanding of the fundamental concepts and the tools necessary for effective financial decision making by business enterprises, within a global setting.

Collaboration to achieve competitive advantage is one of the most commonly recommended cross border strategies. However, international alliances can take many different forms, and they can serve many different purposes. Managing international alliances raises a series of different issues for the alliance partners to manage. This unit examines the issues raised and considers the reasons for success and failure of international alliances. It looks at the forms that partnerships can take, it examines the methods for choosing among potential partners, it examines the potential forms of collaboration and the level of resources each may require. Managing the partnership for maximum advantage, avoiding possible risks, and deciding how and when to end the partnership, all are further issues that managers must consider. The unit considers these questions in the framework of general theoretical approaches, and pays particular attention to discussion of individual cases.

In order to succeed in international business, both corporations and individuals need broad decision-making abilities. Business decision-making tools yield more coherent and justifiable results when used with an understanding of the ethical, social and environmental aspects of the process. This applies to various situations in the international business setting including business relations with government, customers, employees, and NGOs. This unit is designed to look at these non-financial elements in the decisions made within the international business context. Upon completion of this unit, students will have enhanced skills and knowledge relevant to the understanding of ethical issues and ethical decisions making in international business organisations.

The triad regions, Japan, the United States, and the European Union, together are the homes of almost all of the world's largest 500 corporations. They account for a large majority of world exports. They provide most of the world's outward flows of foreign direct investment, and in addition, they are the recipients of most of inward FDI flows. However, they are very different, in firm structure, in regulatory environment, and in the relations between private firms and government agencies. Dealing with them as competitors, customers, suppliers, or partners requires international managers to be aware of these differences and to vary their strategy accordingly. This unit compares the structure and operations of triad firms, and the ways that government agencies frame the operating environment in each region. The unit initially looks at the ways firms in each region seek competitive advantage, and how governments have supported them. It then examines a series of cases where firms have moved from their home region into another, at the ways in which they have attempted to transfer their competitive advantage, and at the reasons for their successes and failures. In addition to the specific knowledge of the habits and tendencies of Japanese, United States, and European firms, the techniques of analysis developed in this unit are applicable to a wide range of competitive situations across the global economy.

The special project in International Business provides students with an opportunity to undertake a supervised research project on an approved topic.

Exporting is a key international business activity, especially for small and medium-sized enterprises (SMEs). This unit covers both the theory and practice of export management. The main areas covered in the unit are: 1) preparing to export (export stimulation, export readiness and planning), 2) forming and maintaining relationships with intermediaries (including legal considerations), 3) managing risks and export finance, 4) filling export orders. The unit therefore covers both the operational and strategic challenges associated with the exporting process.

For small open economies such as Australia's, new business opportunity identification and exploitation are often critical to firms' long-term growth and survival. Identifying new markets, developing new products and implementing new business models are highly-regarded and valuable skills for entrepreneurs and business managers alike. In addition to exploring the special problems (and advantages) associated with entrepreneurial start-ups, the unit explores commercialisation and corporate venturing. Topics include opportunity recognition, strategy development, business planning and investor documentation, venture capital and other funding sources, as well as entrepreneurial and creative leadership. The unit is structured around learning from engaged practice, and requires students to work with startup and early stage businesses.

Businesses are increasingly challenged to build sustainability into their core business model. This unit centres on business- and corporate-level strategy, focussing on sustainability and the development of skills and knowledge required to formalise controls and systems while sparking and coping with rapid entrepreneurial growth. Topics include harnessing and leveraging resources and capabilities, internationalising ventures, social and environmental sustainability, mergers and acquisitions and avoiding the pitfalls of rapid growth. It also explores the processes involved in strategy formulation, including decision-making and design thinking. The unit is structured around learning from engaged practice, and requires students to work with businesses in their search for balanced growth options and their appropriate funding.

Entrepreneurial business opportunities do not always relate to early-stage or start-up businesses. Later-stage business investments, whether buying existing businesses or turning around failing enterprises, are a significant and growing focus of entrepreneurial activity. This unit explores the process of acquiring and reinvigorating established businesses and how to secure private equity funds (leveraged buy-outs) or corporate funding. The focus is on opportunity evaluation, business model innovation, management and revitalisation rather than financial structuring. Students have the opportunity to apply the functional skills learned in core strategy, finance, marketing, and management units to real opportunities. As well as being of interest to those wishing to acquire and manage their own business, the unit is appropriate for those working in 'big' business and the financial markets.

Intellectual property (IP) represents theproperty of an individual's mind, intellect, and proprietary knowledge.There are a number of means ofprotecting IP, including patents, copyright andtrademarks.Creating IP does not necessarily meanan individual own the rights to use it, as most forms require individuals to take formal steps toregister their IP and obtain the legal rights of ownership(both in Australiaand internationally).This unit covers aspects including the concept of IP, how to identify andprotect it in a local and international context, creating theconditions toencourage and leverage IP in a commercial context, how to manage a portfolio ofIP, and enforcement scenarios. The unit concentrates on how to utilise IP tocreate, controland exchange value, with particular attention paid to thepractice of open innovation.

Social entrepreneurs are committed to furthering a social mission through enterprises that rank social, environmental or cultural impact on a par with, or even above, profit. Intersecting the business and not-for profit worlds, social entrepreneurship addresses many complex local and global problems. This unit critically introduces the concept and develops frameworks for understanding social entrepreneurship (also referred to as social enterprise and social innovation). Teaching and learning utilises case studies, and includes the opportunity to apply theory to real-world experiences. Topics include creating innovative social enterprises, sustainable business models, philanthropy and funding, impact assessment, and leadership. The unit is structured around learning from engaged practice, and provides the opportunity to work with social enterprises.

This course is aimed at making you feel more comfortable and confident with the negotiation process. The course is taught as a `flipped classroom¿, meaning that the content of the course is primarily taught outside of class, through brief written lectures, and class time is used to assimilate that knowledge through at least a dozen marked role-play negotiations, debriefs of those negotiations, problem-solving workshops and international negotiation case study analysis. You will also be taught how to develop your own negotiation strategies and tactics using a combination of multiple psychological, economic and legal concepts from the course.

Do you have an Emerging Market Strategy? This is a question that an increasingly large number of company managers, especially in the developed western world, are trying to answer. This unit lays the foundations of strategy making in emerging markets, with an emphasis on four of the largest emerging markets of the world today - Brazil, Russia, India and China - often termed as the BRIC countries. Utilising frameworks from mainstream strategy and international business disciplines, the unit analyses emerging markets from the perspective of primarily two simultaneous phenomena - multinationals from developed markets trying to tap into emerging markets, and companies from emerging markets globalising their operations and consequently changing the global competitive landscape.

This unit focuses on China's globalising business environment from an enterprise perspective by analysing the way in which enterprises are embedded in a dynamic economic, legal and political environment and the consequences that arise for enterprise management and entrepreneurship. The unit combines theoretical analysis of the interrelationship of markets, firms and institutions with detailed, practical case studies of domestic and transnational business activities. Students are able to familiarise themselves with different types of enterprises including the local private sector, state-owned enterprises and foreign owned enterprises operating in China as well as Chinese enterprises expanding into global markets through joint ventures, strategic alliances and mergers and acquisitions.

Global outsourcing and offshoring have become established business practices utilised by global firms in order to better compete internationally as well as domestically. The phenomenon has gained significant momentum in the last decade. Now, even advanced tasks that are closer to the core activities of the firm are being offshored and outsourced. This has had a major impact on the design and boundaries of the firm in the context of continual globalisation of firm operations. This unit introduces students to the concept of disaggregation of work in the context of increased globalisation. Students learn how firms implement offshoring and outsourcing of activities and the consequent performance implications. Case studies on major multinational enterprises from the financial services and technology sector are used to analyse and evaluate the offshoring and outsourcing strategies. This unit covers the fundamental organisational design elements, the evolution of offshoring and outsourcing, governance models, impact on financial performance, role of culture, regulation and technology, all in the context of an increasingly globalised business.Global outsourcing and offshoring have become established business practices utilised by global firms in order to better compete internationally as well as domestically. The phenomenon has gained significant momentum in the last decade. Now, even advanced tasks that are closer to the core activities of the firm are being offshored and outsourced. This has had a major impact on the design and boundary of the firm in the context of continual globalisation of firm operations. This unit introduces students to the concept of disaggregation of work in the context of increased globalisation. Students learn how firms implement offshoring and outsourcing of activities and the consequent performance implications. Case studies on major multinational enterprises from the financial services and technology sector is used to analyse and evaluate the offshoring and outsourcing strategies. This unit covers the fundamental organisational design elements, the evolution of offshoring and outsourcing, governance models, impact on financial performance, role of culture, regulation and technology, all in the context of an increasingly globalised business.

India has gained prominence in last two decades and largely viewed as second to China in the development race. While India has significantly liberalised its economy, it remains a difficult market to successfully penetrate and offers unique challenges and opportunities. This unit focuses on achieving a comprehensive understanding of India as a significant global actor and unravel the complexities of the market it represents. Particular emphasis is given to India's institutional environment that epitomises the market conditions for local and international business to succeed in India as well as enhance their global competitiveness. Furthermore, this unit focuses on individual and firm level attributes that are necessary to survive and prosper in the Indian marketplace. How Indian businesses are globalising their operations on the basis of unique competencies is also discussed.

This unit aims to build a systematic approach to analysing contemporary developments in the global business environment. Topics covered include political regulation and political risk, international cooperation on trade and investment, the diversity of capitalism, technological and social change, and business responses to climate change. Business responses to the global business environment is a focus, with students actively learning through real world cases, problem-solving and workshops. The unit provides students with the opportunity to develop skills in comparative and country analysis, assessing and managing risk and identifying business opportunities, designing risk identification and forecasting systems, as well as a consideration of ethics and human rights in business.

The effective management of employees from diverse backgrounds poses a significant challenge for many international organisations, as well as for domestic firms which inevitably face the dilemma of workforce diversification. However, as organisations move from domestic to global business arenas, meeting this cross-cultural challenge is also one of the key levers for achieving competitive advantage. For managers working in such contexts, the ability to carefully observe and analyse cross-cultural situations is fundamental to individual and organizational success. The underlying driver in achieving this success is the understanding of one's cultural assumptions and how these impact interactions with others, decision making processes and even perception of the world around us. This unit addresses these issues.

This unit of study, third in the sequence of six core units students complete in the MIB program, focuses on how international companies win and lose in global competition. Topics include international strategies such as entry mode choices, cross-border strategic alliances, joint ventures, and mergers & acquisitions. The emphasis of the unit is on the application of contextual knowledge about international business and strategic management theories as tailored to emerging markets, and in particular to analyse decisions faced by companies operating in the Asia Pacific region.

While Global Strategy (MIBS6003) lays out the concepts and theory relevant to a firms' entry into a new market, this unit focuses on how to successfully implement and manage foreign market operations. The key question addressed is how to manage operations of foreign subsidiaries successfully and sustainably. The unit firstly discusses the process of setting up global operations and managing the social and economic impact of global operations on host countries. It then focuses on issues related to managing the network of foreign subsidiaries, including managing international acquisitions and strategic alliances, and the flow of personnel, innovation, and knowledge within this network. To complement the conceptual discussions, students are involved in a global strategy simulation game in which they manage a simulated multinational company and its subsidiary network, as well as develop a plan to revamp existing global operations.

The International Business Project is completed at the end of the Master of International Business program or International Business specialisation within the Master of Commerce. Students engage in a real life miniconsulting project where they will work on a project brief provided by participating companies and designed in consultation with academic staff. Students work in small groups of approximately three to five students, and are supervised by an academic member of staff. Project work is completed over a cumulative twelve-week period, and is aimed primarily at defining and solving problems related to the relevant international dimensions of the participating company's operations. Projects may be with companies based in Australia or overseas. Overseas projects may include an international study tour that the Discipline may organise from time to time. While most projects will be sourced and organised by the Discipline of International Business, under exceptional circumstances, the Unit Coordinators and / or the Program Director may also allow students to work on their own projects. On completion of the project, students are expected to demonstrate that they have achieved the program learning goals.

This unit aims to give students an understanding of international marketing concepts by using the framework of marketing mix elements of product, price, distribution and promotions, and highlights their importance in a rapidly changing global economy. Topics include the `scope and environmental factors (PEST)¿ including `culture¿; ¿globalisation verses internationalisation and multinational corporations¿; `international and global products, services and brands¿, `market size assessment¿; `foreign market selection¿; `foreign market entry mode¿; `pricing for int¿l markets¿; int¿l distribution channels¿; and `int¿l promotions (global vs. multinational approaches) and strategies¿. Understanding these concepts help students develop skills in designing and implementing marketing strategies in diverse international country contexts.

This unit considers the opportunities and challenges associated with managing people in international and cross-cultural contexts, with specific emphasis on international recruitment, selection, preparation, placement, management development, performance management, reward and remuneration. The unit considers the implications of internationalisation and globalisation for human resource management (HRM), the different levels of international business activity, the difference between domestic and international HRM, the challenges of cross-cultural management, models of cross-cultural management, and specific international HR processes, including selection, development, performance management, remuneration and repatriation. The unit provides students with a practical understanding of the issues and challenges associated with managing employees in international, global and cross-cultural contexts.