GRA 6226 Financial Reporting, general issues
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.
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.
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.
The students should be able to critically assess current IFRS regulation and practice.
Basic accounting concepts and technics. IFRS conceptual framework. Financial reporting standards.
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.
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 category||Weight||Invigilation||Duration||Support materials||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination when next scheduled course
|100||Yes||4 Hour(s)||Individual||Written examination with supervision|
|Form of assessment:||Written submission|
|Support materials:|| |
|Comment:||Written examination with supervision|
|Resit:||Examination when next scheduled course|
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.