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), 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, this means students need to attend 80% of the lectures, irrespective of whether lectures are held on campus or online.

The course consists of lectures, practical exercises and discussions. They serve to explain the key concepts of IFRS and their application in practice. The lectures are partly based on an international textbook and partly the text of IFRS standards and other reading material. Relevant chapters and additional material will be announced throughout the course. The homepages of the IASB and others will serve as a source for identifying the most current IFRS-related issues

• 15% Class Participation & Practice Quizzes
• 15% Quizzes
• 30% Homework/Case Study
• 40% Final Exam

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

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