ACC 510 (ACC 5100): Financial Accounting
Contents
The lecture provides a normative understanding of the principles of accounting (GoB) as the foundation for corporate financial reporting in Germany – from small and medium-sized enterprises to publicly listed stock corporations. Following an overview of the concept and system of GoB, the recognition principles for assets in the annual financial statements are systematically developed and illustrated using examples. This includes, in particular, the definition and attribution of (intangible) assets, revenue recognition, and prepaid expenses.
Subsequently, the principles of liability recognition are discussed, including the concept of liabilities, the timing of recognition, provisions for anticipated losses, and deferred income. Finally, valuation principles are addressed, with a focus on acquisition and production costs, the valuation of liabilities, depreciation, and the concept of fair value (Teilwert).
Learning outcomes
Students acquire in-depth knowledge of recognition and measurement principles for assets and liabilities in accordance with German GAAP. They are able to describe the norms, analyze them from an accounting theoretical perspective and critically assess them.
Moreover, participants are capable of analyzing and resolving more complex accounting issues by referring to case law of the Federal Fiscal Court (Bundesfinanzhof) as well as a broad body of academic literature. The interdisciplinary orientation of the course offers students deeper insights into the linkage between business administration and law.
Through the collaborative development and presentation of practical case studies in groups (in cooperation with FALK), students enhance their ability to identify and analyze problems and to present them in a structured and comprehensible manner. As part of the case study presentations, key competencies such as presentation skills, teamwork, and leadership are further strengthened.
Necessary prerequisites
Not taken ACC 512
Recommended prerequisites
Bachelor-level knowledge of financial accounting
| Forms of teaching and learning | Contact hours | Independent study time |
|---|---|---|
| Lecture | 2 SWS | 9 SWS |
| Case Study Presentation | 2 SWS | 4 SWS |
| Exercise class | 2 SWS | 4 SWS |
| ECTS credits | 8 |
| Graded | yes |
| Workload | 240h |
| Language | German |
| Form of assessment | Case study presentation (25%) and written exam, Bring Your Own Device: Students work on campus in a lecture hall on their own device in the ILIAS exam system (with supervision) (90 min, 75%) |
| Restricted admission | yes |
| Further information | – |
Examiner Performing lecturer |  | Prof. Dr. Jens Wüstemann Prof. Dr. Jens Wüstemann |
| Frequency of offering | Spring semester |
| Duration of module | 1 semester |
| Range of application | M.Sc. MMM, M.Sc. Bus. Edu., M.Sc. Econ., M.Sc. Bus. Inf., LL.M., MAKUWI, M.Sc. MMFACT, M.Sc. MMOSCM |
| Preliminary course work | – |
| Program-specific Competency Goals | CG 1, CG 2, CG 4 |
| Literature | Moxter, Adolf: Bilanzrechtsprechung, 6. ed., Tübingen 2007. Wüstemann, Jens/ |
| Course outline | I. System of German GAAP (GoB) § 1. Objectives § 2. Determination of GoB § 3. System of GoB II. Asset Recognition § 4. Definition of an Asset § 5. Specific Features of Intangible Assets § 6. Attribution of Assets § 7. Revenue Recognition § 8. Prepaid Expenses III. Liability Recognition § 9. Definition of a Liability § 10. Initial Recognition of Liabilities § 11. Provisions for Anticipated Losses § 12. Deferred Income IV. Measurement § 13. Measurement of Acquired Assets § 14. Measurement of Self-Constructed Assets § 15. Measurement of Liabilities § 16. Depreciation and Amortization § 17. Impairment |