ACC 451: Financial Accounting II: IFRS

The course Financial Accounting II covers international financial accounting as defined by the International Financial Reporting Standards (IFRS). In the lecture, individual standards will be presented in detail. The focus lies on the recognition and valuation of the annual statement. In particular, the lecture goes into detail about IFRS 15 (Revenue from Contracts with Customers), IAS 12 (Income Taxes), IAS 16 (Property, Plant & Equipment), IAS 38 (Intangible Assets), IAS 36 (Impairment of Assets), IFRS 16 (Leases), as well as IAS 37 (Provisions, Contingent Liabilities and Contingent Assets).

Learning outcomes
Participants of the course gain an overview of the major concepts and methods in the field of international financial accounting. Students acquire detailed knowledge of accounting according to IFRS. Participants apply this knowledge to subject-specific issues. Based on the acquired knowledge, they are capable of analyzing and discussing further issues and coming up with solutions.

Necessary prerequisites
Not taken ACC 402; semester 4 or higher

Recommended prerequisites

Forms of teaching and learningContact hoursIndependent study time
Lecture1 SWS4 SWS
Exercise class1 SWS3 SWS
ECTS credits3
Graded yes
Form of assessmentWritten exam (60 min)
Restricted admissionno
Further information
Performing lecturer
Prof. Dr. Dirk Simons
Prof. Dr. Dirk Simons
Frequency of offeringSpring semester
Duration of module 1 semester
Range of applicationB.Sc. BWL
Preliminary course work
Program-specific Competency GoalsCG 1, CG 2
  • Ernst & Young (2021), International GAAP 2021, Wiley
  • Ruhnke, K. und D. Simons (2018), Rechnungs-legung nach IFRS und HGB, 4. Auflage, Schäffer-Poeschel.
Course outlineModule 1: Accounting Fundamentals
Module 2: Revenue Recognition
Module 3: Property, Plant & Equipment
Module 4: Intangible Assets
Module 5: Impairment and Deferred Taxes
Module 6: Leases
Module 7: Provisions