6 ECTS credits
163 h study time
Offer 2 with catalog number 4009038ENR for all students in the 1st semester at a (E) Master - advanced level.
In the Financial Statement Analysis section, we attempt to guide users of financial statement information through the process that leads to the preparation of financial statements and to provide them with ways of interpreting the information in those financial statements as accurately as possible.
A company's financial reporting is discussed in its broader context. In doing so, we focus mainly on the individual (statutory) financial statements of limited liability companies and only to a limited extent on consolidated financial statements.
We begin by outlining the theoretical framework. In particular, we consider a number of fundamental concepts relating to the content and form of financial statements and financial reporting obligations. We also discuss the theory of external reporting. We then review the main analytical techniques used to evaluate financial statements and provide an insight into the creativity that companies sometimes display in preparing their financial statements.
In addition, in a 'detailed study', we focus on learning to read and understand simple financial statements prepared in accordance with current Belgian accounting law.
The section on 'Auditing' discusses aspects of financial auditing, in particular the statutory audit of financial statements by a statutory auditor or an audit firm.
In the first title, we discuss the 'audit profession'. We begin by explaining some key audit concepts. We then focus on the development and organisation of the profession, both in Belgium and at European and international level, in the second title, 'The Belgian audit profession'. The third section describes the 'audit process' according to the ISAs issued by the International Auditing and Assurance Standards Board (IAASB). Our aim is to provide the reader with a general overview of how an auditor audits financial statements.
The purpose of this book is to provide the reader with a general overview of how a statutory auditor audits financial statements, without going into detail about the specific audit activities in relation to the different cycles.
PowerPoint presentations: we will try to make these available on Canvas at the latest the day before the lecture.
Lectures are in Dutch.
Additional study material:
Students:
The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.
Within the Written Exam category, the following assignments need to be completed:
The final exam (closed book) is written in both 1st and 2nd examination session and consists of open questions, multiple choice and right/wrong questions. Higher pass mark will be applied in the grading of multiple choice and correct/false questions. No optional oral continuation is provided.
A number of sample questions will be made available on Canvas during the semester.
This offer is part of the following study plans:
Master of Business Engineering: Standaard traject (only offered in Dutch)
Master of Business Economics: Standaard traject (only offered in Dutch)
Master of Teaching in Social Sciences: communicatiewetenschappen (90 ECTS, Etterbeek) (only offered in Dutch)
Master of Teaching in Economics: standaard traject (90 ECTS, Etterbeek) (only offered in Dutch)