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.

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 comprises both presence modules and an online sequence:

• The course starts with two presence modules that cover the key aspects of international standard setting and the legal framework for the application of IFRS in the EU and Austria. Students will learn the major concepts and principles of IFRS reporting laid out in the IFRS conceptual framework. In addition, students learn how to use IFRS standards to solve practical accounting problems and the tasks of the online sequence of the course.
• Subsequently, students are required to work independently through several online modules within a specified timeframe; the modules cover various individual IFRSs. Students become familiar with the relevant accounting standards and their practical application.
• After passing the online modules, another presence module at WU serves as a wrap-up-session in order to discuss the contents of the online modules and to prepare for the final case study. This repeats relevant contents and deepens the understanding for the subject matter.
• Additionally, a presence module is held in the form of a workshop with practitioners that covers the individual standard IFRS 9 and to show practical aspects of working with IFRS. Besides gaining practical insights on (the application of) IFRS 9, this module helps students to reflect more deeply on the subject matter.

One online module consists of a set of learning materials and a quiz covering the contents of these materials. For all parts of the course, students are provided with a slide deck and additional relevant materials. For the online sequence, students have to work through the materials on their own and are provided with further readings. For each standard included in the learnings materials, an online quiz has to be passed to be awarded attendance for the online module. Furthermore, three integrative online quizzes have to be passed to achieve 15 points each for the final grade each. The order in which the online modules are passed can be chosen by the students; the order and timing for the two integrative online quizzes will be announced. The main task of the various online quizzes is to provide (automated) written feedback to students on their learning progress with regards to each of the online modules.

Finally, a collection of accounting cases for the relevant standards is provided online, including solutions. Students are required to work through them during the various online modules to which they refer to. The collection also serves as point of orientation for the tasks that have to be solved for the final case study and will be covered in the last presence module at WU. Students can vote for the examples out of the collection which they want to discuss. This gives them additional feedback on their overall-progress at the end of the entire course.

For communication during the online sequence, an online forum is established. Students can pose their questions to the subjects covered by the online modules and are given further instructions if required. Any question is typically answered within two working days.

Further information on the contents of the online tests and recommended sequences for working through the learning materials are provided online at the beginning of the course. The course's total workload amounts to 100h: 50h are attributed to the online sequence and 50h to the presence modules and final case study. The approx. workload for each of the online modules (incl. cases from the collection) is further allocated based on their complexity.