Advanced Accounting and International Financial Statements

6 ECTS credits
168 u studietijd

Aanbieding 2 met studiegidsnummer 4001692FNR voor alle studenten in het 1e semester met een gespecialiseerd master niveau.

Semester

1e semester

Inschrijving onder examencontract

Niet mogelijk

Beoordelingsvoet

Beoordeling (0 tot 20)

2e zittijd mogelijk

Ja

Inschrijvingsvereisten

Studenten die dit opleidingsonderdeel opnemen, moeten minstens ingeschreven of geslaagd zijn voor ‘Jaarrekeninganalyse en Auditing’. Voor studenten in de Master of Business & Technology en voor studenten in de master International Business, gelden er geen bijkomende inschrijvingsvereisten. For students of the Master International Business and Master Business & Technology: no additional prerequisites

Onderwijstaal

Engels

Faculteit

Faculteit Sociale Wetensch & SolvayBusinessSchool

Verantwoordelijke vakgroep

Business

Onderwijsteam

Veronique Weets (titularis)
Thomas Selleslagh

Onderdelen en contacturen

0 contacturen Exam
30 contacturen Lecture
142 contacturen Self study

Inhoud

The content of the course is as follows:

• Introduction to international financial reporting: The first part of the course describes international financial accounting and gives the context for the study of IFRS (International Financial Reporting Standards)
• Basic concepts in IFRS: Treats the basic concepts of international accounting, the choice of accounting policies and the presentation of financial statements.
• Revenue recognition and inventories: Although basic concepts of revenue recognition are straight-forward, many accounting accidents are linked with the recognition of revenue. In this part students are introduced to IFRS 15 - Revenue from contracts with customers and IAS 2 - Inventories
• Accounting for fixed assets: How to treat property, plant and equipment and intangible assets in accordance with IFRS.
• Accounting for non- financial liabilities: This part consists of the treatment of provisions and other non-financial liabilities
• Leases: Discussion of IFRS 16 - Leases.
• Financial instruments: In this part an introduction of accounting for financial instruments is given. Students have to be able to account for basic financial assets, financial liabilities, equity instruments and derivatives.
• Income taxes: The last part treats the recognition of actual and deferred income taxes

Studiemateriaal

Digitaal cursusmateriaal (Vereist) : Advanced Accounting and International Financial Reporting, Weets V., Canvas

Bijkomende info

Teaching Methods

• Lecture: collective contact-dependent moments during which the lecturer engages with learning materials.
• Exercises or Practicals (Practical): collective or individual contact-dependent moments during which the students are guided to actively engage with learning materials
• Independent or External Form of Study (Self): independent application of the material discussed in class on real IFRS financial statements

This description of the teaching methods is indicative, in order to assess the expected study load.

Regular students

Lectures including discussions of cases: 30 hours (10 x 3 hours)

Self:  142 hours

• refreshing basic accounting: 24 hours (3 days of 8 hours)
• preparation of the lectures using the reading material and preparing exercises, amounting to 4 hours per week: 52 hours (13 x 4 hours)
• individual study of financial statements in accordance with IFRS, amounting to 2 hours per week: 26 hours (13 x 2 hours)
• preparation exam: 40 hours (5 days of 8 hours)

Working students

There is no specific support for working students, but all lectures are recorded and available via Canvas.

Interessing links:
www.iasb.org
www.efrag.org
www.iasplus.com
http://europa.eu.int/comm/internal_market/accounting/ias_en.htm#adopted-commission

Leerresultaten

Algemene competenties

European listed entities have to prepare their consolidated financial statements in accordance with IFRS (International Financial Reporting Standards). Next to that, more and more non-listed entities are confronted with these international standards for financial reporting

In the course,the basic principles of IFRS are treated. Specific standards are illustrated by case studies.

At the end of the course the students are expected to give a theoretically well-founded solution for a case that relates to the subjects treated. They should be able to read IFRS financial statements and give a well-founded opinion of the quality of these financial statements. Next to that we also expect a general insight and overview of developments relating to IFRS.

Beoordelingsinformatie

De beoordeling bestaat uit volgende opdrachtcategorieën:
Examen Mondeling bepaalt 50% van het eindcijfer

Examen Schriftelijk bepaalt 50% van het eindcijfer

Binnen de categorie Examen Mondeling dient men volgende opdrachten af te werken:

• Mondeling Examen met een wegingsfactor 50 en aldus 50% van het totale eindcijfer.
  
  Toelichting: Theoretical links and application of material on IFRS Financial statements is tested during oral exam with possibility to prepare

Binnen de categorie Examen Schriftelijk dient men volgende opdrachten af te werken:

• Schriftelijk Examen met een wegingsfactor 50 en aldus 50% van het totale eindcijfer.
  
  Toelichting: Capacity to resolve IFRS Cases is tested during written exam with possibility to use course material (no internet connection)

Aanvullende info mbt evaluatie

The written exam is open book and consists of cases similar to the cases treated in class, together with a question regarding the IFRS financial statements studied during the teaching period.

The oral exam is closed book. Students have preparation time for some theoretical questions.
 

Toegestane onvoldoende

Kijk in het aanvullend OER van je faculteit na of een toegestane onvoldoende mogelijk is voor dit opleidingsonderdeel.

Academische context

Deze aanbieding maakt deel uit van de volgende studieplannen:
Master handelsingenieur: Standaard traject
Master in de toegepaste economische wetenschappen: Standaard traject
Master of International Business: Standaard traject (enkel aangeboden in het Engels)
Master of Business Engineering: Business and Technology: Standaard traject (enkel aangeboden in het Engels)
Educatieve master in de economie: standaard traject (90 ECTS, Etterbeek)