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Regular version of the site

International Financial Reporting Standards 1, 2

2022/2023
Academic Year
ENG
Instruction in English
3
ECTS credits
Delivered at:
Практико-ориентированные магистерские программы факультета экономических наук
Course type:
Compulsory course
When:
1 year, 1 module

Instructor

Course Syllabus

Abstract

This course is designed for graduate students who have some knowledge accounting methods and practices. The course covers International Financial Reporting Standards (IFRS) Concepts Framework and major formats of financial statements according to IFRS. Following that, the course is focused on recognition, measurement, and disclosure for such elements of financial accounting as Cash and Cash Equivalents, Receivables, Inventory and biological assets, Long-term Fixed and Intangible assets. The course includes the concepts of accounting and reporting for Lease operations (financial and operating leases). This course is a part of compulsory core courses of the online Master degree program and is designed to ensure the basic professional competences of the master student in the field of financial reporting.
Learning Objectives

Learning Objectives

  • formation of students' comprehensive view of financial statements compiled in accordance with international standards
Expected Learning Outcomes

Expected Learning Outcomes

  • - reflect business transactions on financial accounts in accordance with IFRS and perform accounting procedures at each stage of the accounting cycle; - analyze the main provisions of IFRS standards, scope, objectives and methods of their application; - analyze the financial statements of organizations prepared in accordance with IFRS;
  • - understand the role of international standards in the process of globalization of the economy and the role of IFRS in increasing the reliability of the information economic space. - get a comprehensive understanding of the global approach to the financial accounting system; - apply international financial reporting rules (i.e International Financial Reporting Standards/IFRS - IAS, IFRS)
Course Contents

Course Contents

  • The conceptual and regulatory framework for financial reporting
  • An overview of the standards: Accounting for Assets and Financial Instruments
  • Recording transactions and events
  • How to prepare financial statements
  • Cash Flows: Introduction and Basic Definition
  • How to analyze and interpret the financial statements
  • Accounting for Long-term Assets
  • Accounting in a Nutshell
Assessment Elements

Assessment Elements

  • non-blocking Test
  • non-blocking Project
  • non-blocking Project
Interim Assessment

Interim Assessment

  • 2022/2023 1st module
    0.4 * Test + 0.3 * Project + 0.3 * Project
  • 2023/2024 1st module
    0,5 test+0,5 project
Bibliography

Bibliography

Recommended Core Bibliography

  • Association of Chartered Certified Accountants (Great Britain), & BPP Learning Media (Firm). (2017). ACCA : For Exams in September 2017, December 2017, March 2018 and June 2018: Vol. Eleventh edition. BPP Learning Media.

Recommended Additional Bibliography

  • Kieso, D. E. (2014). Intermediate Accounting: Vol. Second edition. Wiley.