In case of limited access to the WU campus during WS 2020/21, the course will be held in a synchronous hybrid mode. Participants will be divided into groups; the size of the groups will depend on the capacity of the lecture hall(s). Each session only one group will be present in class on a rotating basis, the other group(s) can follow the course online via livestream. Students will be informed about the groupings via email on a timely basis.

The assessment will be similar to the assessment in case of unlimited access to the WU campus. There will online quizzes and a final exam. The final exam will be held on campus.

The quizzes will be held online via learn@wu. Therefore two additional dates will be necessary:

· Thursday, 10.12.2020,  9 - 10:00 am. Therefore, the session on 10.12.2020, starting at 6:00 pm will end one hour earlier at 8:30 pm.

· Tuesday, 15.12.2020,  5 - 6:00 pm. Therefore, the session on 15.12.2020, starting at 09:00 am will end one hour earlier at 11:00 am.

The final exam will be held in presence.

Regarding the cooperation with our partner (the case studies) we will inform you in time.

Generally, this course is a PI course with 80% attendance. However, due to the special situation, there will not be compulsory attendance.

This course deals with the economic and technical fundamentals of consolidated financial statements and their accounting implications from the perspective of IFRS. The relevant accounting standards covered include IFRS 3 (business combinations), IFRS 10 (consolidated financial statements), IFRS 11 (joint arrangements) and IAS 28 (investments in associates and joint ventures). Furthermore, topics such as currency translation (IAS 21), related party disclosures (IAS 24) or accounting for discontinued operations (IFRS 5) are discussed.

At the end of the course, students are able to assess the relevance of consolidated financial statements for corporate practice and the effects of business combinations on nonconsolidated as well as on consolidated financial statements. Furthermore, they can draw up such consolidated financial statements by making the basic assessments required and performing the necessary calculations. Finally, they are able to deal with the requirements of related accounting standards that are of special relevance for (international) groups.

This course is a PI course with 80% attendance. Students that do not meet this limit for attendance will not be allowed to pass the course.

The course consists of lectures, practical examples and discussions. The lectures are partly based on international textbooks and partly on the text of IFRS. Relevant chapters in the books and additional material will be announced and partly also provided throughout the course.

At the end of the course, students work out case studies and get the opportunity to present them to as well as discuss them with partners from corporate practice. Further information on these business partnerships will be announced at the beginning of the course.

The Assessment is based on:

· Two quizzes: 15 % each

· Case study: 25%

· Final exam: 45 %

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

Good knowledge of bookkeeping and accounting.