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International Financial Reporting Standards

2019/2020
Учебный год
ENG
Обучение ведется на английском языке
4
Кредиты
Статус:
Курс по выбору
Когда читается:
2-й курс, 1 модуль

Преподаватель

Программа дисциплины

Аннотация

The course International Financial Reporting Standards (IFRS) is a course that focuses on the preparation of financial statements and the interpretation of information in the financial statements under IFRS.
Цель освоения дисциплины

Цель освоения дисциплины

  • The objective of this course is to help students learn how to prepare and interpret the information in financial statements under International Financial Reporting Standards (IFRS).
Результаты освоения дисциплины

Результаты освоения дисциплины

  • Student demonstrates deep knowledge and critical understanding of theories, principles, concepts and methodologies in finance
  • Student uses strong analytical skills and applies them to solve practical problems.
  • Student demonstrates a range of generic skills including information and time management, team and project work, computing and autonomous learning, digital skills
Содержание учебной дисциплины

Содержание учебной дисциплины

  • Topic 1. Principles of IFRS
    The principles of accrual accounting. Tthe difference between accrual accounting and cash accounting. Deferred revenue, deferred expenses, accrued revenue, and accrued expenses
  • Topic 2. Preparing and analyzing the financial statements and notes under IFRS
    Preparing the balance sheet, income statement, statement of equity, and statement of cash flows. For the statement of cash flows, using both the direct method and the indirect method. Using the balance sheet to analyze a firm’s liquidity and capital structure. Using the income statement to analyze a firm’s efficiency. Using the statement of equity to analyze a firm’s dividend policy. Using the statement of cash flows to understand the difference between cash flows from operations and net income.
  • Topic 3. Revenue
    Revenue recognition under IFRS. The main principles of IFRS 15. Concepts such as variable consideration and revenue reversals. Accounting for default risk for credit sales. Hhow accounts related to revenue are presented in the financial statements and notes. Using relevant information to analyze a firm’s credit policy
  • Topic 4. Inventory
    Different methods of recording events involving inventory (e.g., LIFO and FIFO). Write-downs. Cost of goods sold. Adjusting items in the financial statements when different methods for inventory are used. Using relevant information to analyze a firm’s inventory policy
  • Topic 5. Equity
    Recording equity issuances, share repurchases, dividends, bonus issues, and stock splits. How equity accounts are presented in the financial statements and notes. Calculating earnings per share
  • Topic 6. PP&E
    The revaluation model and the cost model. Gross PP&E versus net PP&E. Recording the purchase, use, and sale of PP&E. Different depreciation methods. Impairments. PP&E, and the statement of cash flows. Ggains and losses on sales, net income, and the statement of cash flows. Using relevant information to analyze a firm’s investment decisions
  • Topic 7. Financial instruments
    Investments in debt and equity instruments. Different types of derivatives and hedges (e.g., cash-flow hedges). Financial liabilities. Finding the net present value of financial instruments. Using relevant information to analyze a firm’s risk-management practices
  • Topic 8. Foreign-exchange translations
    Local currency, functional currency, and presentation currency. Recording business activities that involve a foreign subsidiary. Determining the functional currency. Translating other currencies into the functional currency
  • Topic 9. Consolidation
    Mergers and acquisitions. Goodwill. Consolidation. Non-controlling interests
  • Topic 10. Leases
    Differences between IFRS 16 and IAS 17. Different methods of accounting for leases. Differences between lease accounting for the lessor and the lessee. Initial measurement and subsequent measurement
Элементы контроля

Элементы контроля

  • mid-term (in-class, open-book, 20% of the final evaluation) (неблокирующий)
  • group project (home assignment, 20% of the final evaluation) (неблокирующий)
  • exam (closed-book, 60% of the final evaluation) (неблокирующий)
Промежуточная аттестация

Промежуточная аттестация

  • Промежуточная аттестация (1 модуль)
    0.6 * exam (closed-book, 60% of the final evaluation) + 0.2 * group project (home assignment, 20% of the final evaluation) + 0.2 * mid-term (in-class, open-book, 20% of the final evaluation)
Список литературы

Список литературы

Рекомендуемая основная литература

  • Bakker, E. (2017). Wiley IFRS 2017 : Interpretation and Application of IFRS Standards. Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1477431

Рекомендуемая дополнительная литература

  • Picker, R. (2016). Applying IFRS Standards (Vol. Fourth edition). Chichester, West Sussex, United Kingdom: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1639476