The first part of this course deals with an introduction into the current state of non-financial reporting standards in Europe. For that purpose, the most common voluntary and mandatory reporting standards are covered with a particular focus on the GRI Standards and the EU Non-Financial Reporting Directive (NFRD). The other part of 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)

At the end of the course, students are able to critically reflect on the role of accounting and non-financial reporting for achieving sustainable development. Furthermore, they can assess the most commonly used voluntary and mandatory non-financial reporting standards in Europe for companies and stakeholders and apply these standards in a European setting. In addition they 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.

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.

Good knowledge of bookkeeping and accounting.