Students will learn the value of harmonization in accounting rules and the basics about different accounting practices worldwide. The course explains the development process of the IFRS standards and the institutions involved in the process with a special focus of the standards’ implementation in the EU. Particular IFRS standards and the underlying concepts for their application will be discussed and analyzed in detail.
- Principles and Concepts (Reporting (IAS 1), Fair Value (IFRS 13), Revenue Recognition (IFRS 15))
- IFRS Accounting: Non-Current Assets (PPP (IAS 16), Intangible Assets (IAS 38), Impairment Testing (IAS 36), Leasing (IFRS 16))
- IFRS Accounting: Current assets (Inventories (IAS 16), Borrowing Costs (IAS 23))
- IFRS Accounting: Financial Instruments (IFRS 7, IFRS 9)
- IFRS Accounting: Provisions (IAS 37) and Employee Benefits (IAS 19)
- Written exam, 60 minutes.
- Students can choose to write the exam in English or German.
- Kieso / Weygandt / Warfield (2017, or 2020), Intermediate Accounting: IFRS, 3rd (or 4th) Edition, Hoboken, NJ: Wiley.
- Pellens / Fühlbier / Gassen / Sellhorn (2017): Internationale Rechnungslegung, 10. Auflage, Stuttgart: Schäfer-Poeschel.
- Original Standards (IFRS & IAS).
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