Syllabus

Title
4439 International Accounting I - Financial Reporting
Instructors
Mag. Magdalena Kuntner
Contact details
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
02/18/19 to 02/22/19
Registration via LPIS
Notes to the course
Dates
Day Date Time Room
Thursday 03/07/19 09:00 AM - 01:00 PM TC.5.02
Thursday 03/14/19 09:00 AM - 01:00 PM TC.5.02
Thursday 03/21/19 09:00 AM - 01:00 PM TC.5.02
Thursday 03/28/19 09:00 AM - 01:00 PM TC.5.02
Thursday 04/04/19 09:00 AM - 01:00 PM TC.5.02
Friday 04/05/19 11:00 AM - 01:00 PM TC.3.10
Friday 05/10/19 11:00 AM - 12:30 PM TC.3.05
Contents

The course provides participants with an overview of financial accounting according to International Financial Reporting Standards (IFRS). It outlines the specifics of IFRS and provides knowledge of selected IFRS. The course starts with the introduction of the International Accounting Standards Board (IASB), which is the global standard setter, and the Conceptual Framework for Financial Reporting, which serves as the basis for developing IFRS. An overview of the applicable IFRS is provided and selected standards (e.g., IAS 1 "Presentation of Financial Statements", IAS 16 "Property, Plant and Equipment", IAS 36 "Impairment of Assets", IAS 2 "Inventories") are covered in detail. When presenting the selected IFRS, the underlying concepts are covered first and their practical application is demonstrated in examples.

Learning outcomes

By attending this course, students obtain good knowledge about the key concepts and elements of financial reporting according to IFRS. The students acquire practice-relevant knowledge in some selected areas of IFRS like property, plant and equipment and inventories. After completing this course, the students have a good understanding of the scope of IFRS and the institutional infrastructure surrounding it. This course helps them to understand and critically evaluate main specifics of IFRS as well as apply IFRS recognition and measurement rules on typical situations. The students completing this course are also able to assess the benefits of IFRS as well as the accounting discretion within IFRS.

Attendance requirements

This course is a PI course with mandatory attendance.

All students must attend the first class!

Teaching/learning method(s)

The course consists of lectures, practical examples and class discussions and a final exam. They serve to explain the key concepts of IFRS and their application in practice. The lectures are based on the text of IFRS standards. Relevant additional material will be announced throughout the course.

At the end of the introductory lesson, examples on the accounting topics which are covered in class will be assigned to the students. In groups, the students will work on solutions for the examples and present those solutions in class at a later date. 

Basic knowledge of accounting is recommended in order to be able to participate in the course.

Assessment

Assessment is based on

  • active participation (10 %),
  • presentations of examples (45 %) and
  • the final exam (45 %).

In order to pass the course, students are required to achieve more than 50 % of the total reachable points.

presentation of examples: Thursday, April 4th, 2019 and Friday, April 5th, 2019

final exam: Friday, May 10th, 2019, 11:00-12:00

Prerequisites for participation and waiting lists

For participants of the Cross-Functional Management Program and WU-incomings only.

For questions concerning enrolment and waiting lists please contact the Coordinator of the Cross-Functional Management Programme at cfm@wu.ac.at.

All students must attend the first class!

Recommended previous knowledge and skills

Basic knowledge of accounting is recommended in order to be able to participate in the course.

Availability of lecturer(s)
Last edited: 2019-05-08



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