Contents
The lecture introduces the most relevant IFRS standards and their informational impact on capital markets. After an analysis of the institutional background of the international harmonization process in financial reporting, we will focus on key accounting issues such as revenue recognition and financial instruments. We will illustrate the effects using current accounting practices of multinational entities, go into major research findings and apply the knowledge to case studies from accounting practice. We will conclude the lecture by an assessment of the importance of accounting for corporate governance and controlling (inside perspective) and for capital-market-oriented financial statement analysis (outside perspective).
Learning outcomes
Students will know about economic consequences of financial reporting and about the role accounting information plays on capital markets, understand the special role of IFRS on international capital markets, be familiar with the main IFRS accounting rules and their impact on financial statements, and demonstrate orally and in writing their comprehension in the solution of case studies.
Necessary prerequisites
Not taken ACC 515
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 | English |
Form of assessment | Case study presentation (25%) and written exam (90 min, 75%) |
Restricted admission | no |
Further information | – |
Examiner Performing lecturer | Prof. Jannis Bischof Prof. Dr. Jannis Bischof, Prof. Dr. Jens Wüstemann (Lecture) and Dr. Ulrich Störk (Case Studies) |
Frequency of offering | Fall 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 |
Preliminary course work | – |
Program-specific Competency Goals | CG 1, CG 2 |
Literature | Picker, R., K. Clark, J. Dunn, D. Kolitz, G. Livne, J. Loftus, and L. van der Tas (2016), Applying International Financial Reporting Standards, 4th edition, John Wiley, ISBN 978-1-119-15922-3 |
Course outline | Introduction to IFRS Institutional Framework Revenue Recognition Inventory and Cost of Goods Sold Measurement and Impairment of Long-Lived Assets Financial Instruments Equity Non-financial Liabilities (Provisions, Employee Benefits) Leases |