Dit vak wordt in het Engels aangeboden. Omschrijvingen kunnen daardoor mogelijk alleen in het Engels worden weergegeven.
Doel vakThis course provides an overview of the main accounting issues in
preparing the financial statements of large listed enterprises. In line
with reporting requirements for listed
companies in the European Union, the course is based on IFRS (Bridging
theory and practice - knowledge). You will practice your knowledge by
applying IFRS to a range of issues (Bridging theory and practice -
knowledge). In studying and applying IFRS, we will pay particular
attention to the role of judgment in the standards (Broadening your
horizon - responsibility). We also consider the significance of XBRL,
in combination with IFRS, for the future development of financial
reporting (Broadening your horizon - IT).
After following this course, you will be familiar with:
- the objectives of the International Accounting Standards Board
(IASB) and its general approach to standard-setting;
- the IASB’s Framework and its key concepts with respect to
recognition, measurement and performance presentation;
- the main requirements concerning recognition and measurement of
the IAS/IFRS selected for this course. This course does not deal with
disclosure and presentation requirements unless specifically indicated;
- the style in which accounting standards, and specifically those
of the IASB, are written.
- XBRL and its role in an IFRS context.
You should then be able to:
- read and understand an accounting standard by yourself, to
understand at least its main provisions concerning recognition and
measurement, to summarize these in the form of journal entries and to
discuss the impact of the prescribed treatments, compared to possible
alternatives, on reported income and financial position;
- give a reasoned opinion on questions concerning the application
of the standards covered in this course, including application of
- recognize and explain how IFRS has been applied in practice on
the basis of extracts from financial statements of listed companies;
- discuss and evaluate aspects of standards in terms of their
internal consistency, consistency with other standards, their agreement
with the Framework, or the overall policies of the IASB.
Inhoud vakAt the core of company financial reporting is the representation of
financial position and financial performance in the balance sheet and
income statement. Measuring these accounting numbers can be complex
(think of uncertainty in provisions, or of financial instruments). In
today's world, International Financial Reporting Standards (IFRS) play
an important role in dealing with this complexity. In practice, IFRS
can function as just a set of rules that needs to be complied with.
However, it can also be seen as an evolving body of knowledge in which
relevant accounting issues are identified and analyzed, and in which
solutions are offered that aim to be principles-based and that are
consistent with a set of underlying concepts. That is how IFRS is used
in this course. We don’t use a textbook, but we use IFRS to become
familiar with important accounting issues, to understand how they can be
resolved, to reflect on the solutions offered in IFRS, and to see how
even very detailed rules still require very important judgments from
While the course will not turn you into an IFRS specialist, you will
acquire a knowledge of issues and concepts that will allow you to follow
intelligently future developments in financial reporting. You will also
develop your practical skills in working with accounting standards so
that you can find and apply more detailed knowledge when needed in
practice or further specialized studies.
OnderwijsvormWeblectures; lectures (4 hours per week); discussion classes (2 hours
ToetsvormWritten exam; bonus points can be earned with optional assignments.
Vereiste voorkennisThis course requires intermediate knowledge of financial accounting,
including preparation of consolidated financial statements, equivalent
to the contents of the course Financial Accounting (E_EBE2_FAC),
LiteratuurIFRS International Financial Reporting Standards: Issued at 1 January
2019 ('Red Book').
Aanbevolen voorkennisThe course assumes basic knowledge of common transactions and
arrangements, such as lease contracts, pension arrangements, business
combinations, and common financial instruments including derivatives.
The greater your familiarity with these topics, the easier it will be to
appreciate their discussion in IFRS.
|Faculteit||School of Business and Economics|
|Vakcoördinator||prof. dr. C. Camfferman RA|
|Examinator||prof. dr. C. Camfferman RA|
prof. dr. C. Camfferman RA
dr. D. Detzen
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