The course provides participants with an overview of corporate financial reporting under International Financial Reporting Standards (IFRS) and a deeper knowledge of selected IFRS standards. The course will introduce the International Accounting Standards Board (IASB) and its conceptual framework. It will explain the legal framework for the application of IFRS (e.g., IAS Regulation, Stock Exchange Regulations) and discuss the impact of accounting harmonization on accounting and reporting practices around the world. An overview of all applicable standards will be provided with some standards covered in more detail. For example, the course thoroughly presents accounting issues related to property, plant and equipment (IAS 16), revenue recognition (IFRS 15), fair value measurement (IFRS 13), non-financial liabilities (IAS 37), leasing (IFRS 16) 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).

By attending this course, students obtain thorough knowledge about the key concepts and elements of corporate reporting under IFRS. After completing this course, the students have a good understanding of the scope and legal environment of IFRS. They learn about the preparation and structure of IFRS financial statements and notes. This course helps them to understand and critically evaluate IFRS financial statements as well as apply IFRS recognition and measurement rules. The students completing this course are also able to assess the benefits of IFRS as well as the accounting discretion within IFRS, follow practical and political developments in the international financial reporting and formulate their own opinions, and know the relevant institutions and stakeholders and how they interact.

See revised syllabus under Learning Activities.

Due to the so-called Corona crisis, we switch to distance learning. We will use Microsoft Teams for our (virtual) collaboration. In the online class, the focus will be on discussing the main concepts, the rationale for the relevant rules and illustration through some practical examples. The lectures are partly based on an international textbook and partly the text of IFRS standards and other reading material. See for relevant chapters of the textbook and for other sources the revised syllabus under Learning Activities.