Bachelor
2024/2025
International Financial Reporting Standards
Type:
Elective course (Economics)
Area of studies:
Economics
Delivered by:
School of Finance
Where:
Faculty of Economic Sciences
When:
4 year, 2, 3 module
Mode of studies:
offline
Open to:
students of one campus
Language:
English
ECTS credits:
6
Contact hours:
62
Course Syllabus
Abstract
This course is designed for undergraduate students who have some experience with accounting methods and practices. The course covers International Financial Reporting Standards (IFRS) Concepts Framework and major formats of financial statements according to IFRS. Following that, the course is focused on recognition, measurement and disclosure for such elements of financial accounting as Revenue, Inventory and biological assets, Long-term assets as Property, Plant and Equipment, Intangible assets and Provisions. Accounting for Impairments of Long-term assets is also covered. The course contains concepts of accounting and reporting for Lease operations (financial and operating leases). One class is focused on the Cash Flow Statement preparation techniques. The course also covers the crucial topic of Financial Instruments. The last part of the course deals with the consolidated financial statements. It covers the main concepts of control, subsidiaries and affiliates, single and consolidated statements. After this course, the students will be able to deal with special items (e.g. intra-companies transactions and unrealized gains), and to prepare basic consolidated financial statements. Finally, the methods of accounting at the date of acquisition – that is, goodwill, measuring the consideration transferred, measuring the net assets acquired – will be examined. The course does not require extensive knowledge of mathematics and statistics.