The University of Transnational Business Law provides the most comprehensive training for students seeking positions as; government officials, business executives, journalists, educators, civic and religious leaders, and other interested citizens in order to help them better understand the world and the foreign policy choices facing transnational and international trade.
International law is the set of rules generally regarded and accepted as binding in relations between states and between nations. It serves as a framework for the practice of stable and organized international relations. International law differs from state-based legal systems in that it is primarily applicable to countries rather than to private citizens. National law may become international law when treaties delegate national jurisdiction to supranational tribunals such as the European court of Human Rights or the International Criminal Court. Treaties such as the Geneva Conventions may require national law to conform to respective parts.
Much of international law is consent-based governance. This means that a state member of the international community is not obliged to abide by this type of international law, unless it has expressly consented to a particular course of conduct. This is an issue of state sovereignty. However, other aspects of international law are not consent-based but still are obligatory upon state and non-state actors such as customary international law and peremptory norms (jus cogens).
International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards. They are the rules to be followed by accountants to maintain books of accounts which is comparable, understandable, reliable and relevant as per the users internal or external.
IFRS, with the exception of IAS 29 Financial Reporting in Hyperinflationary Economies and IFRIC 7 Applying the Restatement Approach under IAS 29, are authorized in terms of the historical cost paradigm. IAS 29 and IFRIC 7 are authorized in terms of the units of constant purchasing power paradigm.
IFRS began as an attempt to harmonize accounting across the European Union but the value of harmonization quickly made the concept attractive around the world. However, it has been debated whether or not de facto harmonization has occurred. Standards that were issued by IASC (the predecessor of IASB) and are still within use today go by the name International Accounting Standards (IAS), while standards issued by IASB are called IFRS. IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). On 1 April 2001, the new International Accounting Standards Board (IASB) took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and Standing Interpretations Committee standards (SICs). The IASB has continued to develop standards calling the new standards "International Financial Reporting Standards".
International education can mean many different things and its definition is debated. Some have defined two general meanings according to its involvement of students. The first refers to education that transcends national borders by the exchange of people, for example, by students traveling to study at an international branch campus, as part of a study abroad program or as part of a student exchange program. The second is a comprehensive approach to education that intentionally prepares students to be active and engaged participants in an interconnected world.
The International Baccalaureate defines the term according to criteria such as the development of citizens of the world in accordance to culture, language, and social cohesion, building a sense of identity and cultural awareness, encrypting recognition and development of universal human values, encourage discovery and enjoyment of learning, equip students with collectivist or individualistic skills and knowledge that can be applied broadly, encourage global thinking when responding to local situations, encourage diversity and flexibility in teaching pedagogies and supply appropriate forms of assessment and international bench marking.
International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries. International finance examines the dynamics of the global financial system, international monetary systems, balance of payments, exchange rates, foreign direct investment, and how these topics relate to international trade.
Sometimes referred to as multinational finance, international finance is additionally concerned with matters of international financial management. Investors and multinational corporations must assess and manage international risks such as political risk and foreign exchange risk, including transaction exposure, economic exposure, and translation exposure.
Some examples of key concepts within international finance are the Mundell–Fleming model, the optimum currency area theory, purchasing power parity, interest rate parity, and the international Fisher effect. Whereas the study of international trade makes use of mostly microeconomic concepts, international finance research investigates predominantly macroeconomic concepts.
The disappearing of economic boundaries is partially due to the proliferation of electronic communication, which allows instantaneous information transfer for sales, marketing, manufacturing and outsourcing. Furthermore, growing distribution networks, supply chains, and transportation hubs simplify the movement of products. The broad networks of worldwide financial institutions reduce currency issues. Thus, business professionals are increasingly servicing the needs of customers around the world. Consumers want the convenience offered by mobile devices; businesses have an opportunity to attract and retain customers by building a presence, promotions, advertising and rewards on mobile technology platforms.
Technology results in change, and businesses that do not adapt to these changes swiftly enough get consumed by them. Agility can be a tremendous asset to companies in this rapidly evolving technological age. However, the companies that fare the best in an ever-shifting marketplace are those that have the foresight to stay ahead of the curve. A business without a social media presence is a business excluded from one of the fastest growing media markets of our time.
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.
- International trade studies goods-and-services flows across international boundaries from supply-and-demand factors, economic integration, international factor movements, and policy variables such as tariff rates and trade quotas.
- International finance studies the flow of capital across international financial markets, and the effects of these movements on exchange rates.
- International monetary economics and international macroeconomics study flows of money across countries and the resulting effects on their economies as a whole.
- International political economy, a sub-category of international relations, studies issues and impacts from for example international conflicts, international negotiations, and international sanctions; national security and economic nationalism; and international agreements and observance.