Content, progress and pedagogy of the module

The module advances the student´s theoretical and practical understanding of financial accounting and the processes behind the preparation of financial statements. It provides the students with an understanding of the international accounting standards (IAS/IFRS) and the ability to handle more complicated accounting issues. It develops student´s understanding of the conceptual framework, the structure and the content of the International Financial Reporting Standards (IFRS) (e.g. property plant and equipment, intangibles, provisions, statement of cash flow), and the practical application of the standards, covering the development of financial statements and their underlying methods, concepts, principles and measurement theories. The student is instructed to prepare and understand financial statements and disclosures, and to examine several complex topics and their effect on financial reporting.

Learning objectives

Knowledge

The objective is that the student after the module possesses the necessary knowledge on:

• the structure and content of international accounting standards (IAS/IFRS).
• the theories, principles and legal requirements for preparing financial statements according to the international accounting standards.
• the valuation and reporting of items belonging to assets, liabilities and stockholders’ equity, and the definitions and principles of revenues and costs.

Skills

The objective is that the student after the module possesses the necessary skills in:

• preparing financial statements according to the international accounting standards (including the statement of profit and loss, financial position, statement of changes in stockholders’ equity, and cash flow).
• apply the accounting standards in intermediate as well as more advanced situations.

Competences

The objective is that the student after the module possesses the necessary competences in:

• identifying, analysing and solving general and specific issues regarding international financial accounting and reporting.
• analysing the issues of the financial statements according to principles in international accounting standards (IAS/IFRS).
• using accounting principles and theory to critically evaluate and discuss accounting standards.

Type of instruction

For information see § 17.

Exam

Exams