INTERNATIONAL FINANCIAL REPORTING STANDARDS

Course Description

This course will provide basic knowledge regarding the international financial reporting standards. Each standard and the concepts within the standards will be analyzed in a detailed way. Students will have the ability to analyze the uniformity of reporting from the international perspectives. Which is describing the organizational structure of the key in setting IFRSs, describe the purpose of a conceptual framework-who uses it and why, explain the qualitative characteristics that make information in financial statement useful, discuss the going concern assumption underlying the preparation of financial statements, define the basic elements in financial statement-assets, liabilities, equity, income, and expenses, distinguish between alternative bases for measuring the element of financial statements, and outline concepts of capital

INTERNATIONAL FINANCIAL REPORTING STANDARDS

Evaluation Tools (Active Term)

No evaluation items have been defined.

Course outcomes

1. 01 1.Prepare income statement according to IFRS.
2. 02 2.Prepare balance sheet according to IFRS.
3. 03 3.Analyze the effects of transactions and events on an entity’s financial condition and demonstrate an understanding of IFRS.
4. 04 4.Employ professional judgment applying IFRS technical concepts to prepare and present financial statements and related disclosures.

Course Syllabus

Reference Books & Course Materials

1. 01 1. International Financial Reporting Standards, Authors:R.Picker, K.Leo, J.Loftus,V.Wise, K.Clark,K.Alfredson, 3rd Edition, WILEY.

Learning Outcomes

1. L01 1.Prepare income statement according to IFRS.
2. L02 2.Prepare balance sheet according to IFRS.
3. L03 3.Analyze the effects of transactions and events on an entity’s financial condition and demonstrate an understanding of IFRS.
4. L04 4.Employ professional judgment applying IFRS technical concepts to prepare and present financial statements and related disclosures.

Program Outcomes

1. P01 PO1 Been able to demonstrate their learned skills and knowledge regarding business related issues and research which they can use continuously in their personal and business life.
2. P02 PO2 Obtained theoretical and practical information from the courses that allowed students to learn and work independently.
3. P03 PO3 Been ensured that they learnt by increasing their level of knowledge and skills which are necessary in their field.
4. P04 PO4 Increased their creativity and analytical thinking and developed crucial skills which are needed to be applied both in their studies, research, and future careers.
5. P05 PO5 Adopted and implemented ethical principles and moral values regarding the use of technology in their studies and professional lives by creating an awareness on using the technological imperatives.
6. P06 PO6 Designed their theoretical and practical knowledge in a way that they could make use of in a collaborative usage and various working contexts.
7. P07 PO7 Enrolled in intercultural or international projects which could provide opportunities to develop their skills and implement them successfully in their studies, research and future careers.
8. P08 PO8 Improved their communication skills successfully and been able to implement them in various international education, research and work context by increasing their social capital.
9. P09 PO9 Been able to implement their learnt knowledge and research skills into practice through scenarios, case studies, empirical articles and real-life observations.
10. P10 PO10 Created awareness and developed ethical undertaking by incorporating the learnt theories with environmental approaches to be further implemented into their research and careers.

Po-Lo Matrix