International Accounting

This course is designed to familiarize you with today’s world of accounting under International Financial Reporting Standards (IFRS).

IFRS are developed by the International Accounting Standards Board (IASB) in London, and they are currently required or allowed as the basis for the financial reporting of companies in more than 100 countries around the globe. In the European Union, all stock-listed companies are required to prepare their consolidated financial statements in accordance with IFRS.

The objectives for this course are as follows:

• To provide a systematic overview of financial reporting according to IFRS.
• More specifically, to make you appreciate why IFRS are relevant in Europe and in other countries around the world, and to familiarize you with the institution behind IFRS accounting, the International Accounting Standards Board, IASB.
• To introduce to you the Conceptual Framework that underlies IFRS. Financial accounting is based on informed judgments and estimates. Therefore, to prepare and to interpret IFRS financial statements competently one needs not only technical expertise, but also a solid and critical understanding of the objectives and the other concepts of IFRS.
• To advance your knowledge and understanding of IFRS financial statements (Balance Sheet, Income Statement, Cash Flow Statement etc.).
• To discuss the most important accounting topics and the relevant IFRS rules and requirements for recognition, measurement and disclosure that are of relevance to managers, analysts, investors, and other users of financial reporting information.