[ 514IFACIFRK21 ] KS (*)Basics of International Financial Reporting and Perspectives on Digitalization

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Workload Ausbildungslevel Studienfachbereich VerantwortlicheR Semesterstunden Anbietende Uni
3 ECTS B1 - Bachelor 1. Jahr Betriebswirtschaftslehre Vera Schiemer-Haberl 2 SSt Johannes Kepler Universität Linz
Quellcurriculum Bachelorstudium International Business Administration 2021W
Ziele (*)The class starts with an introductory section, covering basic knowledge of accounting/double-entry bookkeeping and the effects of corporate actions on a firm’s financial statements. Additionally, the course provides further insights into the forthcoming digitalization impact on the accounting process and the future productivity benefits, given the implementation costs of electronic filing and digital reporting.

The second part of the course will introduce selected International Financial Accounting Standards (IFRS) as required accounting rules for listed entities in the European Union and will highlight the underlying fundamental principles of (consolidated) financial statements prepared according to IFRS. The course aims at providing students with a profound knowledge of selected IFRS that cover the most crucial standards, beginning with the basics of financial statements’ presentation and finishing with accounting basics for financial instruments. For comprehension, the course covers the significant differences between IFRS and US-Generally Accepted Accounting Principles (GAAP), e.g., GAAP historical cost and IFRS fair value, and the impact of such variations on the users of financial statements.

By the end of the course, the students will have a basic understanding of the most common international accounting standards and the accounting process itself. Furthermore, they will be able to understand and interpret financial statements according to IFRS.

Lehrinhalte (*)The following subjects are covered by the course:

  • Basics of accounting/double-entry bookkeeping and the accounting process
  • Selected IFRS as
    • Conceptual Framework and underlying concepts of IFRS
    • Presentation of Financial Statements (IAS 1)
    • Property, Plant and Equipment (IAS 16)
    • Impairment of Assets (IAS 36)
    • Financial Instruments (IFRS 9)
    • Fair Value Measurement (IFRS 13)
    • Revenue from Contracts with Customers (IFRS 15)
Beurteilungskriterien (*)In-Class Participation, written exam, homework
Lehrmethoden (*)The course follows an integrated concept, consisting of theoretical input, practical application of knowledge by solving examples, and group discussions. The lectures start with theoretical input supported by a slide presentation summing up the respective IFRS's major rules accompanied by selected examples solved in-class. Class participants are asked to prepare further examples for the following lecture as homework by applying the theoretical knowledge presented in the lectures. All examples will then be solved and discussed in class.
Abhaltungssprache Englisch
Literatur (*)
  • Powerpoint Slides and Examples sold as script
  • Additional material (e.g. case studies & further readings) will be provided for download in KUSSS
Lehrinhalte wechselnd? Nein
Teilungsziffer 100
Zuteilungsverfahren Zuteilung nach Vorrangzahl