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Магистратура 2019/2020

Международные стандарты финансовой отчетности

Лучший по критерию «Полезность курса для Вашей будущей карьеры»
Лучший по критерию «Полезность курса для расширения кругозора и разностороннего развития»
Статус: Курс по выбору (Финансы)
Направление: 38.04.08. Финансы и кредит
Когда читается: 2-й курс, 1 модуль
Формат изучения: Full time
Преподаватели: Даунинг Джеффри Дейл
Прогр. обучения: Финансы
Язык: английский
Кредиты: 4

Course Syllabus

Abstract

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.
Learning Objectives

Learning Objectives

  • 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).
Expected Learning Outcomes

Expected Learning Outcomes

  • 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
Course Contents

Course Contents

  • 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
Assessment Elements

Assessment Elements

  • non-blocking Mid-term (in-class, open-book, 20% of the final evaluation)
  • non-blocking Group project (home assignment, 20% of the final evaluation)
  • non-blocking Exam (closed-book, 60% of the final evaluation)
Interim Assessment

Interim Assessment

  • Interim assessment (1 module)
    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)
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