Financial Reporting, general issues

Introduction

The course is about preparing and understanding financial statements according to IFRS. IFRS is an internationally accepted set of accounting standards used by listed firms in the EU/EEA and elsewhere in the world. Expertise in IFRS is needed for professional auditors, accounting preparers and accounting users. The course is compulsory for students in the Master of Accounting and Auditing.

The course set-up is flipped classroom. This means that students are expected to study the materials at home using the textbook and videos. They will also have to do exercises online to get access to the next videos. More difficult exercises will be dealt with in class.

Course content

• Basic accounting concepts and techniques
• IFRS conceptual framework.
• Financial reporting standards, eg.
  • Business combinations and consolidation
  • Revenue recognition
  • Leasing
  • Fixed assets and provisions
  • Cash flow statements