SYLLABUS

University: Technical University of Košice

Faculty: Faculty of Economics

Department: Department of Finance

Course Number: 35000367

Course Name: International Accounting Standards

Type, scope and method of learning activities:
Course Type:
Recommended scope of the course content (in hours):
Full-time study (hours per week): -
Part-time study (hours per semester): WT
Study Method:

Number of credits: 3

Recommended semester of study: WT

Recommended semester

Study programme

Study grade

Study Method

1.rok WT

Finance, Banking and Investment (FBI_Ing_D_en)

Master

Attendance

Level of study:

Prerequisites:

Course completion requirements:
Assessment and completion of the course: Graded credit test
Continuous assessment:
Final assessment: Student passes the final assessment and passes the examination when he or she meets the requirement to obtain at least 51% out of 100%.
Assessment is focused on the application of theoretical knowledge to examples of standards that require the calculation of values and subsequent accounting. The assessment also includes the correct presentation of the items accounted for and their interpretation. The evaluation is carried out by a written exam (in the scope of evaluation min. 51%, max. 100%), which consists of examples for calculation, accounting and interpretation of results.

Overall assessment: Overall assessment is the sum of the assessments obtained by students in the assessment period. The overall result is determined in accordance with the internal regulations of the Technical University in Košice. (Study Regulations, the internal regulation principles of doctoral studies)

Learning outcomes:
The aim of the course is to provide students with an explanation of the conceptual framework of financial reporting, explain the methods of valuing assets and liabilities, clarify the various IAS and IFRS standards, and know how to correctly apply these standards to specific areas of accounting. The student should know the criteria according to which the need and requirement of accounting and reporting according to these standards arises. The aim is also for the student to be able to prepare financial statements according to IAS and IFRS, including the preparation of an annual report. The main teaching method is lectures from the subject, supplemented by case studies in which students apply international accounting standards. In the lecture, the individual standard is explained, demonstrated by an example by calculating and posting an example.

After completing the course, the student should have:
- knowledge of the correct application and interpretation of IAS and IFRS as well as differences from national accounting legislation. It will master the use of fair value, the concept of present value in valuing assets and liabilities, the use of effective interest rates and amortized cost.
- skills - can handle accounting, accounting of financial instruments, consolidate financial statements.
- competencies - The course provides skills and competencies to prepare financial statements and annual report, calculate various indicators (EBITDA, EPS), analyze statements and interpret results.
The course uses classical teaching methods (verbal), as well as alternative (case study) and analytical-synthetic learning process.

The course uses classical (verbal) and alternative teaching methods (discussion of case studies). It is a combination of exposure method - method of direct knowledge transfer by lecture and motivational method - case study and practicing the curriculum on examples. The teaching process in the case of case studies and examples is a process in which inputs (students, case studies, other sources of education), a transformation system (faculty, facilities) and outputs (students with knowledge, skills and competences) are managed.

Brief course content:
1:L: Conceptual Framework of International Accounting Standards and International Financial Reporting Standards IAS , IFRS . Valuation of assets and liabilities. Materiality and aggregation of items.
2:L: Presentation of Financial Statements . Statement of financial position and Statement of comprehensive income.
3:L: Cash flow calculation method. Statement of changes in equity.
4:L: Inventories and their valuation . Accounting for increasing and decreasing of inventories, the net realizable value of inventories.
5:L: Property, plant , equipment , intangible assets , the amortization and impairment of assets.
6:L: Business combinations and consolidated financial statements.
7:L: Accounting for leases . Income tax. Reporting of earnings per share and reporting of employee benefits.
8:L: Definition and presentation of operating segments.
9:L: Effects of changes in foreign exchange rates . Disclosure of related party transactions.
10:L: Accounting for government grants and disclosure of government assistance.
11:L: Accounting for revenues from contracts with customers..
12:L: Reporting of non-current assets held for sale and discontinued operations.
13:L: Financial instruments : - accounting, amortized cost method, presentation , reporting.

Recommended Reference Sources:
Harrison, W.T., Horngren, C.T., Thomas, C.W., Tietz, W.M., and Suwardy,T. Financial Accounting: International Financial Reporting Standards. Pearson: 2017. ISBN 978-1-292-21114-5.
Mackenzie, B., Coetsee, D., Colyvas, B., et al. Wiley IFRS 2012: Interpretation and Application of International Financial Reporting Standards. New Jersey. ISBN 978-0-470-92399-3.
Libby, R., Libby, P.A., Short, D.G. Financial Accounting. McGraw-Hill Irwin 2011. ISBN 978-0-07-811102-0.
IFRS in your pocket. Deloitte 2021. Available on: www.iasplus.com

Recommended optional program components:
An alternative path for the student will be a relevant portfolio of student assignments that he or she can present in the exercises. The student's set of works will be evaluated by the relevant teachers according to the scope, quality and level of the presentation.

Languages required for the course completion:

Notes:

Course assessment:
Total number of students assessed: 12

25%

58%

Teacher:
Ing. Radoslav Tušan, PhD.

Last modified: 31.08.2023

Approved by: person(s) responsible for the study program