What is the London Accounting Study Abroad?

London, England and Istanbul, Turkey will be your campus for two great weeks during May 2010. Students will spend the first three weeks of Spring Term at BYU focusing on completing coursework for BUS M 430 (International Business) and ACC 545 (International Accounting). We will then fly to London and have meetings with the International Accounting Standards Board (IASB), the Institute of Chartered Accountants in England and Wales (ICAEW), The Association of Chartered Certified Accountants (ACCA), accounting firms, and other experts in IFRS and the global convergence process. In addition to business trips, we plan to visit historical sites and the vibrant London theater district. An added highlight will be a three-day visit to Istanbul, Turkey where we will learn about the IFRS adoption process and challenges faced by businesses in a non-English speaking country.

The timing of this study abroad program coincides with 2010 Spring Term. The program is designed so that coursework can be completed by the time you begin your internships in June. However, you have until the last day of Spring Term to complete of all the course requirements.

This program is designed specifically for accounting students who have finished their first year in the MAcc; however, interested students who will have finished the Jr. Core accounting curriculum by the program start date may also apply. As part of the curriculum, students will complete a certificate program in International Financial Reporting Standards (IFRS). This certificate program will give you a solid foundation in IFRS. The experience you will gain through the coursework and the actual time abroad is part of the School of Accountancy’s (SOA) mission of preparing students for global careers.

Learning Opportunities

• Students will meet with and be able to discuss international accounting practices with executives from leading companies and international accounting bodies in London.
• Student will learn about the challenges of transitioning to IFRS in a non English speaking country through visits with accounting professionals in Turkey.
• Students will learn about the standard setting process from those that work on standards.
• Students will attend an IASB meetings listening to members discuss and debate standards.
• Students will be able to see, experience, and understand the subtle differences in international accounting standards.
• Finally, students will experience cultural and historical sites in London, one of the most dynamic and influential cities in the world, as well as the culturally and historically rich city of Istanbul, Turkey.

Academic Program Details

Participants in the International Accounting Study abroad program will earn six course credit hours through enrollment in two of the following courses:

• ACC 545: International Accounting (3 credit hours)
• BUS M 430: Introduction to International Business (3 credit hours)
• BUS M 490R: Special Topics in International Business (3 credit hours--only if you have previously taken BUS M 430)

Program Director

Dr. Ervin Black, associate professor and PricewaterhouseCoopers Fellow, was a faculty advisor for the Asia Study abroad program in business in 2004.   Black was awarded the Marriott School’s outstanding researcher award in 2007 and has received multiple teaching and research awards in his past 12 years of teaching. He received a Ph.D. in accounting from the University of Washington, a bachelor’s degree in international relations from BYU, and an MBA from BYU. Before pursuing an academic career, Black had 7 years of professional experience, mostly in financial and quantitative analysis.

Greg Burton, associate professor and Deloitte & Touche Fellow, has met with businesses and consulted in more than 30 countries. Burton was awarded the Ernst & Young outstanding teaching award in 2005 and has received multiple teaching awards and recognitions. He received a Ph.D. in accounting from the University of South Carolina, and bachelor’s and master’s degree in accounting from Utah State University. Before pursuing an academic career, Burton was a senior manager with KPMG and spent two years with the firm living and working in Southeast Asia. He frequently consults with and conducts executive education seminars for companies including: PricewaterhouseCoopers, Illinois Society of CPAs, Georgia Society of CPAs, Global Industries, Financial Professionals Consultants International, and the worldwide Association of Chartered Certified Accountants. He has made business presentations in China, Croatia, Czech Republic, England, France, India, Ireland, Malaysia, Mexico, Singapore, Sweden, Thailand, and the United Arab Emirates. Professor Burton recently served as the 2008-2009 academic fellow at the Securities and Exchange Commission in Washington, D.C.

Donna Street holds the Mahrt Chair in Accounting at the University of Dayton and is president of the International Association of Accounting Education and Research. She is the former President of the International Accounting Section of the American Accounting Association and Past President of Beta Alpha Psi. Professor Street is a leading expert in international accounting, especially global convergence of accounting standards.

Preparation for Study Abroad

Due to the rigorous schedule of this study abroad program, all students who are accepted into the program are required to attend a pre-departure orientation classes.

Recommended pre-departure reading includes the following found on the IAS Plus Website: iasplus.com:

• IFRS in your Pocket
• IASB Projects and Meetings/ IASB Projects/Timetable
• IASB Structure/IASB Chronology
• IFRSs in Europe
• IAASB Auditing Standards

Schedule and Time Commitment

• Students will study at BYU for two weeks 27 April – 14 May
• Students will travel from Salt Lake City to London 18 May – 30 May
• Business and cultural briefings, as well as class lectures, will be held daily during the trip.
• Because of the demanding travel schedule, excellent physical health is required. The group will walk—and if late for the train (tube) run—approximately 7 miles a day.

Where do Students Live?

Students will stay in hotels or hostels.  All housing and travel will be arranged by BYU International Study Programs.

What Funding Sources are Available?

• Regular BYU tuition scholarships, Pell grants, and Federal Insured Student Loans may be applied to Business Study Abroad Programs.
• Students who submit the financial aid section of the International Study Programs (ISP) application and who have a current FAFSA form on file at the Financial Aid Office, will be considered for a study abroad scholarship awarded through the Kennedy Center.
• School of Accountancy scholarships for $1,000
• Private grants and scholarships outside of BYU may assist: kennedy.byu.edu/isp.

Application Process

• Complete the online application at kennedy.byu.edu/isp/online/app.
• Application deadline: 31 January 2010
• Applicants will be contacted for an interview by the director.
• Students who are accounting majors may apply.  Since this program will be held in conjunction with the University of Dayton, the limit on the number of participants will be about 15 students from BYU.
• ISP and the GMC reserve the right to cancel this program, revise its offerings, or make any adjustments to the preliminary cost estimates due to conditions beyond its control.

How Much Does This Study Abroad Cost?

Students need to pay the $25 ISP application fee. After acceptance into the program, students will be expected to the estimated $3,500–3,700 program fee. BYU requires each student leaving campus to get HTH Worldwide health insurance, however this fee is included in the program fee.  Tuition, travel in London, group tours, accommodations, medical insurance, and approximately one-half of all meals are included in the program fee.

Students will be responsible for their airfare to and from London, the remaining meals, and any other educational and personal expenses incurred during the program.

Choose your adventure.