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Бакалавриат 2019/2020

Международные стандарты финансовой отчетности

Лучший по критерию «Новизна полученных знаний»
Статус: Курс по выбору (Экономика)
Направление: 38.03.01. Экономика
Когда читается: 4-й курс, 2 модуль
Формат изучения: Full time
Преподаватели: Даунинг Джеффри Дейл, Еременко Татьяна Викторовна
Язык: английский
Кредиты: 3

Course Syllabus

Abstract

The course consists of lectures (14 hours) and seminars (14 hours). Academic support for the course is provided via LMS, where students can find: guidelines and recommendations for doing the course; guidelines and recommendations for self-study; samples of assessment materials.
Learning Objectives

Learning Objectives

  • This course’s objective is to help students learn how to do the following: - to understand and apply the principles of IFRS; - to record firms’ business activities (e.g., the issuance of equity, the sale of goods and services) under IFRS; - to prepare firms’ financial statements and notes under IFRS. The topics of this course relate to these objectives.
Expected Learning Outcomes

Expected Learning Outcomes

  • Students understand and apply the principles of IFRS.
  • Students are able to record firms’ business activities under IFRS.
  • Students are able to prepare firms’ financial statements and notes under IFRS.
Course Contents

Course Contents

  • Topic 1. Principles of IFRS
    Relevant subjects: - the principles of accrual accounting; - the 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
    Relevant subjects: - 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. Equity
    Relevant subjects: - 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 4. Revenue
    Relevant subjects: - 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; - how accounts related to revenue are presented in the financial statements and notes; - using relevant information to analyze a firm’s credit policy.
  • Topic 5. PP&E
    Relevant subjects: - 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; - gains and losses on sales, net income, and the statement of cash flows; - using relevant information to analyze a firm’s investment decisions.
  • Topic 6. Financial instruments
    Relevant subjects: - 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 7. Consolidation
    Relevant subjects: - mergers and acquisitions; - goodwill; - consolidation; - non-controlling interests.
Assessment Elements

Assessment Elements

  • non-blocking Mid-term exam
    Individual, in-class, open-book.
  • non-blocking Group project
    In groups, at home.
  • non-blocking Final exam
    Individual, in-class, closed-book.
Interim Assessment

Interim Assessment

  • Interim assessment (2 module)
    0.6 * Final exam + 0.2 * Group project + 0.2 * Mid-term exam
Bibliography

Bibliography

Recommended Core Bibliography

  • Mirza, A. A. (2010). Wiley IFRS : Practical Implementation Guide and Workbook (Vol. 3rd ed). Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=363480

Recommended Additional Bibliography

  • Bragg S.M. IFRS Made Easy [Electronic resource] / S.M. Bragg. – John Wiley & Sons, 2010. – 282 p. – URL: https://ebookcentral.proquest.com/lib/hselibrary-ebooks/detail.action?docID=699462