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GRA 6297 Financial Reporting II

GRA 6297 Financial Reporting II

Course code: 
GRA 6297
Department: 
Accounting and Operations Management
Credits: 
6
Course coordinator: 
Annelies Renders
Course name in Norwegian: 
Financial Reporting II
Product category: 
Master
Portfolio: 
Master of Accounting and Auditing
Semester: 
2025 Spring
Active status: 
Active
Level of study: 
Master
Teaching language: 
English
Course type: 
One semester
Introduction

The course is about preparing and understanding financial statements according to International Financial Reporting Standards (IFRS). IFRS is an internationally accepted set of accounting standards used by listed firms in the EU/EEA and elsewhere in the world. 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 course will be set up as a flipped classroom. This means that students are expected to study the materials at home using the textbook and videos. They will also have to do exercises online to get access to the next videos. More difficult exercises will be dealt with in class.

Learning outcomes - Knowledge

After having completed the course, the students should have obtained advanced knowledge about essential topics in IFRS regulation such as fair value accounting and measurement, financial instruments, consolidation, fair value accounting for non-financial assets, impairments, and tax accounting.

Learning outcomes - Skills

At the end of the course, studens will be able to prepare consolidated and separate financial statements according to IFRS. Students will also be able to discuss IFRS regulation with reference to the IASB’s conceptual framework.

General Competence

After the course, the students should be able to critically assess and apply current IFRS regulation and practice.

Course content

- Fair value accounting: theory and measurement
- Financial instruments
- Tax accounting
- Consolidation
- Fair value for non-financial assets
- Impairments

Teaching and learning activities

 

The course is set up as a flipped classroom. This means that students are expected to study the materials at home using the textbook and videos. They will also have to do exercises online to get access to the next videos. More difficult exercises will be dealt with in class. Students are expected to prepare for the more difficult exercises before coming to class.

Software tools
No specified computer-based tools are required.
Qualifications

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.

Disclaimer

Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge

Students need to have taken GRA 6226 first before they can take the exam of GRA 6297.

Assessments
Assessments
Exam category: 
School Exam
Form of assessment: 
Written School Exam - digital
Exam/hand-in semester: 
First Semester
Weight: 
100
Grouping: 
Individual
Support materials: 
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • IFRS Standards (Red Book) Part A
Duration: 
3 Hour(s)
Exam code: 
GRA 62971
Grading scale: 
ECTS
Resit: 
Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching
12 Hour(s)
Student's own work with learning resources
120 Hour(s)
Examination
6 Hour(s)
Individual problem solving
40 Hour(s)
Sum workload: 
178

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.