| 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.
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