The course provides participants with an overview of corporate reporting under International Financial Reporting Standards (IFRS), enhances their knowledge of selected IFRS standards and preparation of (consolidated) financial statements. The course presents an overview of accounting for financial instruments as well as international operations in accordance with IFRS. Accounting for liabilities and shareholders’ equity is also covered. Furthermore, the course deals with business combinations and consolidated financial statements. Finally, the course provides in depth knowledge on the institutional framework of corporate reporting within the European Union. Annual reports and other corporate reporting requirements are discussed.

By attending this course, students obtain thorough knowledge about the key concepts and elements of corporate reporting under IFRS. They learn about the preparation and structure of IFRS (consolidated)financial statements and notes, as well as their role within annual reports.The students also acquire practice-relevant knowledge in the areas of IFRS like: financial instruments, consolidated financial statements and the institutional framework of corporate reporting. After completing this course, the students have good understanding of the scope of IFRS and institutional infrastructure shaping corporate reporting. This course helps them to understand and critically evaluate IFRS financial statements as well as apply IFRS recognition and measurement rules on typical situations independently. The students completing this course are also able to assess the potential benefits and disadvantages of IFRS, follow practical and political developments in the international financial reporting environment and formulate their own opinion.

The course consists of lectures, practical examples and discussions. They serve to explain the key concepts of IFRS, their application in practice as well as preparation of financial statements and annual reports. The lectures are partly based on international text books and partly on the text of IFRS standards and other regulation. Relevant chapters in the books and additional material will be announced throughout the course. Homepage of the IASB will serve as a source for identifying the most current IFRS-related issues.

• Test 1: 25%
• Test 2: 30%
• Final exam: 45%

The students are expected to have a general understanding of financial accounting.