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Course Syllabus

Master 2023/2024

Financial Statements: How to Read?

Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Type: Elective course (Finance)
Area of studies: Finance and Credit
Delivered by: Department of Accounting, Analysis and Audit
Where: Faculty of Economics
When: 2 year, 1, 2 module
Mode of studies: offline
Open to: everyone
Instructors: Natalia Feruleva
Master’s programme: Finance
Language: English
ECTS credits: 6
Contact hours: 56

Course Syllabus

Full SyllabusAsk Question

Abstract

During the course the students acquire knowledge about the types, purpose and content of corporate financial statements as well as skills such as formation and analysis of financial statements prepared in accordance with IFRS and RSA. The main objective of the course is to develop students' understanding of the basic principles of formation and analysis of financial statements in accordance with IFRS and RAS.The main feature of the course is the opportunity to assess the impact of the transition to IFRS on the financial performance of Russian companies, and deal with the real case devoted to analysis of financial statements. The course will be delivered by a TeDo ( Technologies of Trust-Audit) specialist with experience in auditing and reviewing financial statements prepared in accordance with IFRS and RAS.It is recommended to pass the course devoted to IFRS before participation in this course.
Learning Objectives

Learning Objectives

  • Financial reporting is a source of information for decisions making by interested users: investors on the basis of this data determine the feasibility and profitability of their investments; lenders use data statements to make decisions about the possibility of granting borrowing company; shareholders are interested in the profit margin; suppliers are interested in assessment of the buyers consistency. But in order to properly interpret the financial data, to minimize the likelihood of making wrong management and economic decisions, it is necessary to understand the content of the report in order to know the impact of the indicators on the financial performance of the company. The aim is to enable university elective participants to acquire: -knowledge of the types, the purpose and content of financial statements of commercial organization; - abilities and skills of financial statement application for the analysis of the financial position of companies and financial planning. These competences are system-wide, necessary for all directions, the profile and specialization of graduates. These competencies are vital for successful business activities in the professional spheres selected by graduates. The main objective of the course is to develop students' understanding of the basics of financial reporting in accordance with IFRS.
Expected Learning Outcomes

Expected Learning Outcomes

  • Apply a set of diagnostics to assess the quality of the accounting in financial statements.
  • Demonstrate deep knowledge and critical understanding of theories, principles, concepts and methodologies in financial statement analysis.
  • Apply transaction analysis to examine and record the effects of operating activities on the financial statements.
  • - describe objectives of financial reporting as per IASB conceptual frameworks
  • - elaborate upon what IAS1 and IAS7 of IASB prescribe in relation to the preparation and presentation of financial statements
  • Analyzes financial statements
  • Students understand the content of firms’ primary financial statements
  • Students understand the relationship between firms’ primary financial statements
  • -able to prepare financial statements in accordance with IFRS
  • -able to assess the impact of transactions on the balance sheet.
Course Contents

Course Contents

  • Topic 1. Composition, content and the principles of financial reporting for commercial organizations
  • Topic 2. Formation of financial statements
  • Topic 3. Analysis of financial statements
Assessment Elements

Assessment Elements

  • non-blocking Homework (Analysis of financial statement)
    Students analyse financial statement prepared according to IFRS and Russian Accounting Standards, compare data and interpret the results.The final work is submitted to the teacher for verification.
  • non-blocking Final test
    Final test (according to ACCA F7)
  • non-blocking Test 1 The principles of financial reporting in accordance with IFRS
  • non-blocking Test 2 Balance sheet and P&L preparation
  • non-blocking Test 3 Cash flow statement preparation
  • non-blocking Test 4 Analysis of financial statement
Interim Assessment

Interim Assessment

  • 2023/2024 2nd module
    0.1 * Final test + 0.1 * Homework (Analysis of financial statement) + 0.12 * Test 1 The principles of financial reporting in accordance with IFRS + 0.48 * Test 2 Balance sheet and P&L preparation + 0.1 * Test 3 Cash flow statement preparation + 0.1 * Test 4 Analysis of financial statement
Bibliography

Bibliography

Recommended Core Bibliography

  • David Alexander, Ann Jorissen, Martin Hoogendoorn, Carien van Mourik, & Collette Kirwan. (2020). International Financial Reporting & Analysis, Edition 8: Vol. Eighth edition. Cengage Learning.
  • Анализ финансовой отчетности, составленной по МСФО : учебник / Н.С. Пласкова. — 2-е изд., перераб. и доп. — М. : Вузовский учебник : ИНФРА-М, 2019. — 269 c. - Режим доступа: http://znanium.com/catalog/product/995416
  • Бухгалтерский учет с основами МСФО : учебник и практикум для академического бакалавриата, Дмитриева, И. М., 2018
  • Дмитриева, И. М.  Бухгалтерский учет с основами МСФО : учебник и практикум для вузов / И. М. Дмитриева. — 6-е изд., перераб. и доп. — Москва : Издательство Юрайт, 2021. — 319 с. — (Высшее образование). — ISBN 978-5-534-13537-4. — Текст : электронный // Образовательная платформа Юрайт [сайт]. — URL: https://urait.ru/bcode/468560 (дата обращения: 27.08.2024).
  • Международные стандарты финансовой отчетности (МСФО) : учебник / Ю.А. Бабаев, А.М. Петров. — М. : Вузовский учебник : ИНФРА-М, 2019. — 398 с. - Режим доступа: http://znanium.com/catalog/product/983170
  • Методика и практика подготовки первой отчетности по МСФО в группе компаний: Монография / А.М. Петров, А.Н. Коняхин - М.: КУРС, НИЦ ИНФРА-М, 2019. - 319 с. - Режим доступа: http://znanium.com/catalog/product/1025274
  • Рожнова, О. В., Кейсы для изучения МСФО : учебное пособие / О. В. Рожнова. — Москва : Русайнс, 2020. — 207 с. — ISBN 978-5-4365-2291-3. — URL: https://book.ru/book/934125 (дата обращения: 26.08.2024). — Текст : электронный.
  • Штефан, М. А.  Бухгалтерская (финансовая) отчетность организации : учебник для вузов / М. А. Штефан, О. А. Замотаева, Н. В. Максимова ; под редакцией М. А. Штефан. — Москва : Издательство Юрайт, 2021. — 346 с. — (Высшее образование). — ISBN 978-5-534-14915-9. — Текст : электронный // Образовательная платформа Юрайт [сайт]. — URL: https://urait.ru/bcode/485439 (дата обращения: 27.08.2024).

Recommended Additional Bibliography

  • Financial Statement Fraud and Financial Stability. (2019). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.A19809A6
  • Lin, S., Riccardi, W. N., Wang, C., Hopkins, P. E., & Kabureck, G. (2019). Relative Effects of IFRS Adoption and IFRS Convergence on Financial Statement Comparability. Contemporary Accounting Research, 36(2), 588–628. https://doi.org/10.1111/1911-3846.12475
  • Picker, R. (2016). Applying IFRS Standards (Vol. Fourth edition). Chichester, West Sussex, United Kingdom: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1639476
  • Богопольский, А. Б., МСФО: теория и практика применения : учебник / А. Б. Богопольский, О. В. Рожнова. — Москва : Русайнс, 2020. — 345 с. — ISBN 978-5-4365-2353-8. — URL: https://book.ru/book/934925 (дата обращения: 26.08.2024). — Текст : электронный.
  • МСФО в России: практика применения, проблемы адаптации, перспективы развития : монография / ; под ред. Г. И. Алексеевой, Е. Н. Домбровской, Коллектив авторов. — Москва : Русайнс, 2021. — 164 с. — ISBN 978-5-4365-6351-0. — URL: https://book.ru/book/939932 (дата обращения: 27.08.2024). — Текст : электронный.
  • Оценка компаний: анализ и прогнозирование с использованием отчетности по МСФО: Справочное пособие / Антилл Н. - М.:Альпина Паблишер, 2016. - 440 с.: ISBN 978-5-9614-0625-2 - Режим доступа: http://znanium.com/catalog/product/1002851

Authors

  • Егорова Екатерина Игоревна
  • FERULEVA Natalia VALEREVNA