International Accounting

Single vs. group accounts, the structure of IASB and the application of IFRS (in Europe and worldwide), the basic principles of accounting according to IFRS (frameworks, balance sheet relevant items in general, value standards), the components of IFRS financial statements, the structure, presentation and disclosure, the approach and evaluation of fixed assets (including accounting for borrowing costs, accounting for assets held for sale and investment property), the recognition and measurement of intangible assets, impairment tests, lease accounting, accounting for financial instruments, accounting for inventories and construction contracts, accounting for accruals, accounting for current and deferred taxes.

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Lüdenbach/Christian: IFRS Essentials, LexixNexis

Planned learning activities and teaching methods

Integrated class, combining lectures and joint preparation of examples and short cases

Assessment methods and criteria

Continuous assessment; 30 points can be received through participation in class and 70 points through a written final exam.

Prerequisites and co-requisites

Managerial accounting, financial accounting, corporate accounting, civil law basics

Infos

Degree programme

European Economy and Business Management (English)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

English

Curriculum

Full-Time

Academic year

2021

Semester

5 WS

Incoming

No

Learning outcome

On successful completion of the module, the students will be familiar with the framework of European business activities and the different functions of single and group accounts. The graduate will also possess basic knowledge in the field of international financial reporting (standard setting process, endorsement process in the EU, structure and content of IFRS financial statements). Further, they will have knowledge of treating recognition and valuation of assets and liabilities according to IFRS and are therefore able to account for the main items in IFRS financial statements. He / she will be able to participate in the preparation and analysis of (consolidated) financial statements, which were created in accordance with international accounting regulations.

Course code

1389-13-01-VZ-EN-49