The course provides participants with an overview of corporate financial reporting under International Financial Reporting Standards (IFRS). It will introduce the International Accounting Standards Board (IASB), its conceptual framework, and the legal framework for the application of IFRS (e.g., IAS Regulation). An overview of all applicable standards will be provided, with some standards covered in more detail. The course covers the requirements for the presentation and disclosure of information in general-purpose financial statements (IFRS 18, IAS 1, IAS 7) and the calculation and presentation of earnings per share (IAS 33).

Furthermore, the course focuses on selected standards that are foundational for understanding the recognition, measurement, and presentation of assets, liabilities, income, and expenses in IFRS-compliant financial statements. This includes accounting issues related to property, plant, and equipment (IAS 16), investment property (IAS 40), intangible assets (IAS 38), fair value measurement (IFRS 13), impairment (IAS 36), revenue recognition (IFRS 15), inventory (IAS 2), non-financial liabilities (IAS 37), and financial instruments (IFRS 9).

Accounting for investments and group accounting, however, will be covered in more detail in another course (Advanced Topics in IFRS).

After completing this course, students will be able to:

1. Describe the purpose and scope of IFRS and the objective of general-purpose financial statements.
2. Explain the structure, elements, and qualitative characteristics of IFRS financial statements.
3. Apply recognition and measurement rules from selected IFRS standards to typical transactions.
4. Interpret the impact of different accounting policies and measurement choices on financial statements.
5. Identify areas of professional judgment and discretion within IFRS and assess their consequences for transparency and comparability.
6. Understand and interpret financial statements and disclosures using IFRS terminology and concepts.
7. Understand the role of IFRS in capital markets and its interaction with financial analysis, valuation, and investor decisions.

This course is a PI course with 80% attendance, this means students need to attend 80% of the lectures, irrespective of whether lectures are held on campus or online.

The course combines lectures, exercises, and interactive discussions to provide a comprehensive learning experience. The teaching approach includes:

• Conceptual input and technical explanations of IFRS standards,
• Illustrative application through examples and extracts from financial statements,
• Pre-class quizzes to guide preparation and encourage engagement,
• In-class discussions to foster analytical thinking,
• Opportunities to discuss the implications of IFRS for finance professionals,
• A guest lecture/workshop on current IFRS topics (e.g., IFRS 18).

Relevant reading materials, exercises, and current IFRS updates will be provided via Canvas. Students are also encouraged to consult the IASB website and industry sources to stay updated on IFRS developments.

To successfully pass the course, students must achieve a minimum of 50% of the total possible points. 

The assessment structure is as follows:

• 20% Class Preparation & Participation
• 40% Midterm Exam
• 40% Final Exam

Successful completion of the courses "Orientierungskurs Finanzwirtschaft" and "Internes Rechnungswesen".

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