ACC 303: Financial Accounting: Annual and consolidated financial statements


  • Introduction to financial accounting
  • Overview on accounting theories
  • Definition of assets, liabilities, revenues and expenses
  • Recognition and measurement rules
  • Fundamentals of group accounting

Learning outcomes
Students will acquire specific knowledge in the areas of financial accounting and group accounting. In addition, they are able to critically assess the definition of assets, liabilities, revenues and expenses as well as the rules for recognition and measurement within the context of different accounting theories.
During exercise classes, tutorials and the team competition, this knowledge is applied to specific practical situations while considering and scrutinizing various aspects and points of view. Moreover, students need to assess the effects of different decision alternatives on the various stakeholders of a business (e.g. shareholders, managers, government, etc.) in order to develop appropriate strategies and action plans. The results of these considerations are presented in written form. This requires a clear understanding and analysis of the respective problem sets. Results need to be presented convincingly in a structured and comprehensible manner. Teamwork and leadership are further objectives of the course, as students form groups during the team competition.

Necessary prerequisites
semester 3 or higher

Recommended prerequisites

Forms of teaching and learningContact hoursIndependent study time
Lecture2 SWS5 SWS
Exercise class2 SWS4 SWS
Tutorial1 SWS3 SWS
ECTS credits6
Graded yes
Form of assessmentWritten exam (90 min)
Restricted admissionno
Further information
Performing lecturer
Prof. Dr. Jens Wüstemann
Prof. Dr. Jens Wüstemann
Frequency of offeringFall semester
Duration of module 1 semester
Range of applicationB.Sc. Bus. Adm.
Preliminary course work
Program-specific Competency GoalsCG 1, CG 2, CG 4
  • Wüstemann/Wüstemann, Bilanzierung case by case, 10th ed., Frankfurt a. M. 2018
  • Hommel/Rammert/Wüstemann: Konzernbilanzierung case by case, 6th ed., Frankfurt a. M. 2018
  • Moxter, Bilanzrechtsprechung, 6th ed., Tübingen 2007
Course outlineA. Introduction to financial accounting
§ 1. Purpose and determination of German GAAP
B. Recognition criteria
§ 2. Assets
§ 3. Revenue recognition
§ 4. Liabilities
§ 5. Accruals and deferrals
C. Measurement criteria
§ 6. Acquisition and production costs
§ 7. Liabilities
§ 8. Depreciation
§ 9. Impairment
D. Consolidated accounting
§ 10. Definition of parent and subsidiary
§ 11. Fundamentals of group accounting
§ 12. Classification and disclosure requirements
§ 13. Management discussion and analysis (MD&A)