Fin­an­cial Re­port­ing – In­ter­me­di­ate – IFRS

Course content

The course purpose is to provide students with a deep knowledge of financial reporting under IFRS (International Financial Reporting Standards) on an intermediate level. IFRS are global accounting standards which are applied in 150 member countries. Since 2005, all publicly listed European companies are obliged to prepare their consolidated statements according to IFRS. The course is especially relevant for students who aim to work as accountants, auditors, consultants, or financial analysts.

The course builds on financial reporting at an introductory level and focuses on an in-depth discussion of selected IFRS issues.

• We analyze definition, recognition, and measurement issues related to assets, liabilities, equity, income, and expenses
• We analyze different accounting choices/practices and discuss them in a broader context (e.g. links to political economy)
• We critically reflect upon ambiguous accounting terminology as well as regulatory loopholes, which provide CEOs/CFOs with room for strategic maneuvering
• We address ethical issues by discussing implications of discretionary leeway under IFRS
• We look at standard-setters' efforts to revise accounting standards aimed at restricting structuring activities by preparers (e.g. lease regulation, regulation for revenue recognition)

The course involves a combination of lectures, case studies, and review & practice sessions. The course builds on research on transnational governance and the political economy of accounting standard-setting. It is dialogue-based and requires preparation (studying relevant chapters in the textbook; working with annual reports) and active participation.