GRA 6226 Financial Reporting, general issues

GRA 6226 Financial Reporting, general issues

Course code: 
GRA 6226
Department of Accounting and Operations Management
Course coordinator: 
Tonny Stenheim
Hans Robert Schwencke
Course name in Norwegian: 
Financial Reporting, general issues
Product category: 
Master of Accounting and Auditing
2017 Autumn
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

IFRS is an internationally accepted set of accounting standards. All listed firms in the EU/EEA are required to use these standards in their consolidated financial statements, and most other firms in EU/EEA-area are allowed to use IFRS in their financial statements. Thus, high expertise in IFRS is needed for professional auditors, accounting preparers and accounting users. The course is compulsory for students in the Master of Accounting and Auditing.

Learning outcomes - Knowledge

The students shall obtain advanced knowledge about fundamental topics in IFRS regulation such as accounting for revenues, intangible assets, provisions, impairment losses, financial instruments, pensions and taxes. The student shall also obtain advanced knowledge about business combinations and consolidated financial statements.

Learning outcomes - Skills

The students shall be able to prepare consolidated and separate financial statements according to IFRS. The students shall also be able to discuss IFRS regulation with reference to the IASB’s conceptual framework.

Learning Outcome - Reflection

The students should be able to critically assess current IFRS regulation and practice.

Course content

Basic accounting concepts and technics. IFRS conceptual framework. Financial reporting standards.

Learning process and requirements to students

Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on itslearning or text book.

Software tools
No specified computer-based tools are required.

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
Grading scale:
Grading rules:
Internal and external examiner
Examination when next scheduled course
100Yes4 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • Accounting standards (document)
Individual Written examination with supervision
Exam category:Submission
Form of assessment:Written submission
Weight: 100
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • Accounting standards (document)
Duration:4 Hour(s)
Comment:Written examination with supervision
Exam code:GRA62261
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam organisation: 
Ordinary examination
Total weight: 
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.