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 organisational structure of the key in setting IFRSs, describe the purpose of a conceptual framework-who uses it and why, explain the qualitative chararcteristics that make information in finacial statement useful, discuss the going concern assumption underlying the prepration 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 identify the IASB and its conceptual framework
2. 02 differentiate between shareholders' equity: share capital and reserves
3. 03 discuss Fair value measurment
4. 04 discuss the type of prvisions and financial instrument recognition criteria

Course Syllabus

Reference Books & Course Materials

1. 01 picker, leo, loftus, wise, clark, and alfredson. Applying internatinal financail reporting standards, 3rd edition

Learning Outcomes

1. L01 Evaluating the methods and thecniques of applying IFRS SOLO 5
2. L02 Preparing financial statements according to IFRS SOLO 5
3. L03 Demonstrate an understanding the basics of IASB SOLO 4
4. L04 Evaluating accounting for current and non-current assets and liabilities SOLO 5
5. L05 Generating accounting for current non-current assets and liabilities SOLO 5

Program Outcomes

1. P01 1. Gained the necessary skills to learn and adopt a spirit of continuous learning in their professional life.
2. P02 2. Developed various skills by working independently via specific learned techniques that both triggered individual efforts and encouraged collaborative work.
3. P03 3. Acquired the essential knowledge and skills to apply key theories, models and applications within the global business context.
4. P04 4. Adopted and applied critical and strategic thinking together with research capabilities for efficient and effective business decisions.
5. P05 5. Utilized and managed ethically information technologies required for contemporary business world.
6. P06 6. Been equipped with conceptual and analytical skills necessary for team work within global organizations.
7. P07 7. Displayed their learnt communication skills that are required to effectively interact in a cross cultural and diverse international work environment.
8. P08 8. Applied their acquired knowledge within the changing work environment.
9. P09 9. Developed an understanding of ethical perspectives and social responsibilities to be used at work and in personal life.

Po-Lo Matrix