Financial Accounting

Aims of the course

1. Upgrade the knowledge of financial accounting from elementary to intermediate level.
2. Deeper understanding of preparation of accounting information for external users.
3. Students will learn how to use theoretical knowledge in problem solving faced by preparers of financial statements.
4. Teach students the contents and preparation of group accounts.
5. Confront students with ethical dilemmas in accounting.

Course syllabus

1. Annual report – regulative framework of financial reporting, disclosures under The Companies Act and IFRS, main differences between SAS and IFRS
2. Risk reporting and non-financial reporting on sustainability (GRI guidelines, ESG)
3. Measurement of assets and liabilities (continued)
3.1. Fixed assests, short-term assets for sale, investment property and leases
3.2. Financial instruments (assets and debts) – classification and measurement according to MSRP, disclosure of risks involved
3.3. Contingent liabilities, provisions and long term deferred revenue
4. Accounting treatment of discounts, rebates, super rebates, cash discounts, assignments, compensations and sales of receivables
5. Disclosure of off-balance sheet transactions
6. Segment reporting and analysis of segment performance
7. Comprehensive income statement
8. Group of companies and consolidated financial statements
9. Transfer pricing
10. Tax accounting:
10.1. VAT calculation
10.2. Corporate income tax
10.3. Deferred taxes
11. Accounting and ethics

Course director(s)

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  • Office Hours
  • Tuesday at 10:15 in P-320
 
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