Announcements

January 2011

New Summer Accounting Study Abroad Program

We are excited to announce the launch of a new Summer program focused on international accounting based in Nicosia, Cyprus.
 
As some of you may know, Cyprus is one of the leading accountancy and financial services hubs in the European Union and the University of Nicosia is one of the leading trainers of accountants in the world (more details below).
 
This 4.5 week summer program is geared toward US accounting students who would like to:

• Gain a familiarity with IFRS (International Financial Reporting Standards) which will increasingly integrate with US accounting standards
• Visit leading accounting and other financial services firms at one of the leading financial centers in the European Union
• Learn from some of the leading accounting training professionals in Europe

Details about the program can be found at the link below:

Summer in Cyprus: International Accounting
 
About Cyprus
 
Cyprus is the only country in the European Union other than the UK that has historically been on an Anglo-Saxon accounting system (IFRS). The island has had this system since its inception because it was a British colony. It adopted it in 1981, while the rest of the EU countries were on the Franco-Germanic system and did not adopt IFRS until 2005. Cypriot expertise in IFRS is thus well-known in Europe.
 
Cyprus is also known for its well regarded tax and shipping regime that has turned it into a financial and business hub in the region. It has the highest per capita rate of chartered accountants (certified accountants) in the world and is the leading investment hub for Russia and the former Eastern bloc states.
 
About The University of Nicosia
 
The University of Nicosia is the biggest and one of the best universities in the country, while at the same time one of the leading educators in accounting in the world.  Its undergraduate training degree gets students 9 exemptions out of the 14 tests that are part of the ACCA (UK) test for certification. Its professional training division helps students prepare for these exams.
 
In 2008, 2 of the top 6 scores on the ACCA in the entire world came from University of Nicosia students
In 2009, 3 of the top 6 scores in the entire world came from University of Nicosia students
 
With the establishment of this new program we are offering business, accounting, finance students a unique opportunity to become well equipped in IFRS before entering industry.
 
About IFRS
 
The International Accounting Standards Board has adopted the International Financial Reporting Standards (IFRS) with the overall objective to create a sound foundation for future accounting standards that are principles-based.
 
As of 2008, 113 countries around the world – including all of Europe – require IFRS reporting.

Most importantly for US-based accounting students, the United States is also progressively moving towards converging US GAAP with IFRS and integration with IFRS will be one of the key topics in the accounting field for the next decade
 
Coursework
 
The 4.5 week program includes 6 credits in Financial Reporting and International Taxation.