Course detail

International acouting standarts

FP-FmusPAcad. year: 2016/2017

The subject is focused on harmonization of accounting in the sense of International Financial Reporting Standards application. The subject deals with the Conceptual framework, with standards IAS/IFRS and with preparation of financial statements in accordance with the International Financial Reporting Standards.

Language of instruction

Czech

Number of ECTS credits

6

Mode of study

Not applicable.

Guarantor

prof. Ing. Mária Režňáková, CSc.

Department

Institute of Finances (ÚF)

Learning outcomes of the course unit

Students will gain the knowledge and skills in preparation of financial statements under the International Financial Reporting Standards and in transformation of the financial statements prepared in accordance with the Czech accounting law into the financial statements under IFRS.

Prerequisites

Accounting of business entities in accordance with the Czech accounting law.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The lectures present students theoretical and practical bases ofInternational Financial Reporting Standards. Then students aplly theoretical knowledge and methods on practical cases.

Assesment methods and criteria linked to learning outcomes

Credit:
Student has to write and submit the assigment on a given topic. The possible topics are following:
- The international accounting harmonisation and its expected development.
- The application of a chosen IFRS standard in the practice.
- The comparison of basic differences between Czech accounting standards and IFRS with the selection of possible issues resulting from this comparison.
- The application of a chosen IFRS standard in the practice of Small and Medium Enterprises.
The share of the assignment on the overall subject evaluation is 50%.

Exam:
The final exam has a written form on computer. The knowledge of presented topics and the ability of using the achieved skills in solving the given task are expected for successful pass of the final exam. The time reserved for test is 60 minutes. The share of the final exam on the overall subject evaluation is 50%.

Course curriculum

International accounting harmonisation
Authorities concerned with standards creation and actualization
International Financial Reporting Standards
Characteristics of particular IFRS/IAS

Work placements

Not applicable.

Aims

Students will gain skills and knowledges in the field of preparation of financial statements according to the International Financial Reporting Standards. Students will be able to convert given financial statements based on Czech accounting regulations to the financial statement based on the IFRS.
Students will get basic knowledges in the field of IFRS and they will be able to compare IFRS with the valid Czech legislation. Furthermore, students will get basic knowledges of IFRS for Small and Medium Enterprises.

Specification of controlled education, way of implementation and compensation for absences

Attendance on seminars is not compulsory but is controlled.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

Not applicable.

Recommended reading

Not applicable.

Classification of course in study plans

  • Programme MGR Master's

    branch MGR-UFRP , 1 year of study, winter semester, compulsory

Type of course unit

 

Lecture

39 hod., optionally

Teacher / Lecturer

Ing. Jiří Ficbauer, CSc., MBA

Syllabus

1. The introduction. The explanation of the exam requirements. The core of the accounting harmonisation and its expected development.
2. The brief characteristics of IFRS and its perspectives.
3. The authorities concerned with the standards creation and their actualization.
4. The list and the structure of IFRS, IFRIC and SIC. The conceptual framework of IFRS. Characteristics of particular IFRS/IAS. From IFRS 1 to IFRS 3.
5. Characteristics of particular IFRS/IAS. From IFRS 4 to IFRS 9.
6. Characteristics of particular IFRS/IAS. From IFRS 10 to IFRS 15.
7. Characteristics of particular IFRS/IAS. The IFRS 16 and the IAS from IAS 1 to IAS 10.
8. Characteristics of particular IFRS/IAS. From IAS 12 to IAS 21.
9. Characteristics of particular IFRS/IAS. From IAS 23 to IAS 28.
10. Characteristics of particular IFRS/IAS. From IAS 29 to IAS 36.
11. Characteristics of particular IFRS/IAS. From IAS 37 to IAS 41.
12. IFRS for Small and Medium Enterprises.
13. Summary.