1185 Specialization in Business Administration Course I - IFRS Accounting
Lukas Obernauer, MSc (WU)
Contact details
Weekly hours
Language of instruction
09/14/23 to 09/17/23
Registration via LPIS
Notes to the course
Day Date Time Room
Tuesday 10/03/23 10:00 AM - 01:30 PM TC.4.27
Friday 10/06/23 10:00 AM - 01:30 PM TC.4.01
Tuesday 10/10/23 11:00 AM - 02:30 PM TC.3.05
Wednesday 10/18/23 11:00 AM - 01:00 PM D5.0.001
Friday 10/20/23 10:00 AM - 01:30 PM TC.5.03
Tuesday 10/24/23 10:30 AM - 02:00 PM TC.4.01
Friday 10/27/23 09:00 AM - 12:30 PM TC.5.15
Monday 11/06/23 10:00 AM - 12:00 PM TC.0.01

The course provides participants with an overview of financial accounting according to International Financial Reporting Standards (IFRS). It outlines the objectives, basic concepts and principles of IFRS. The course starts with an introduction of the International Accounting Standards Board (IASB), its structure and standard-setting process, and the Conceptual Framework for Financial Reporting, which serves as the basis for developing IFRS and sets out the concepts for the preparation and presentation of financial statements. An overview of all applicable standards is provided and selected standards (e.g., IAS 1 Presentation of Financial Statements, IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets) are covered in detail. When presenting the selected IFRS, the underlying concepts are covered first and their practical application is demonstrated next.

Learning outcomes

By attending this course, students will understand the regulatory framework, objectives, key concepts and elements of financial reporting according to IFRS. They are able to use the Conceptual Framework to analyse financial reporting issues. Students understand the methods recognition and measurement under IFRS (e.g., fair value measurement) and the role of judgment when applying principles-based standards. After completing this course, students should understand and be able to critically evaluate main aspects of IFRS financial statements. They should be able to assess issues relating to accounting discretion and managerial reporting incentives.

Attendance requirements

This course is a PI course with 80% attendance, this means students need to attend 80% of the lectures, irrespective of whether lectures are held on campus or online. In case the attendance threshold is not met, students will be deregistered from the course

Teaching/learning method(s)

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



  • Quizzes: 15 %
  • Test 1: 40 %
  • Test 2: 45 %

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

Marking scheme:

1 100 - 88 points

2 87,5 - 76 points

3 75,5 - 63 points

4 62,5 - >50 points

5 <= 50 points

Prerequisites for participation and waiting lists

This course is a PI course with 80% attendance. Students who are not present in the first unit will be deregistered and the place will be given to some other student from the waiting list.


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Recommended previous knowledge and skills

Students should have good knowledge of double entry bookkeeping and accounting in unconsolidated financial statements (UGB, HGB or other national accounting standards). Students are expected to have knowledge from an undergraduate financial accounting course.

Availability of lecturer(s)
Last edited: 2023-09-18