117-0043/05 – International Financial Reporting Standards (IFRS)
Gurantor department | Department of Accounting and Taxes | Credits | 5 |
Subject guarantor | Ing. Jana Hakalová, Ph.D. | Subject version guarantor | Ing. Jana Hakalová, Ph.D. |
Study level | undergraduate or graduate | Requirement | Compulsory |
Year | 1 | Semester | summer |
| | Study language | Czech |
Year of introduction | 2019/2020 | Year of cancellation | |
Intended for the faculties | EKF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
The course will introduce students to the principles of accounting and reporting under international financial reporting standards in comparison with the Czech accounting practices.
The course includes the most important currently in force updated the IAS / IFRS, including examples of practical applications.
The interpretation will be compared with any standard applicable accounting regulations in the Czech Republic and the differences with the introduction of IAS/ IFRS.
Teaching methods
Lectures
Tutorials
Summary
The aim of the course is to familiarise students with the principles of reporting according to the International Financial Reporting Standards in comparison with Czech accounting practice. The students will learn the issue of selected international standards (IAS/IFRS) including their practical application on examples. Part of the lectures and seminars will be a comparison of each standard with the current accounting legislation in the Czech Republic and the introduction of differences in relation to IAS/IFRS.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
Other conditions are not determined.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
Framework syllabus of lectures:
1. Principles of regulation and harmonization of accounting in the global scale, convergence of IFRS and US GAAP. The conceptual framework of IFRS and International Financial Reporting Standards Overview, IFRS 1 – First-time Adoption of International Financial Reporting Standards, IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors.
2. IAS 1 – Presentation of Financial Statements, IAS 10 – Events after the Reporting Period, IAS 27 –Consolidated and Separate Financial Statements, IAS 7 – Statement of Cash Flows.
3. IAS 2 – Inventories.
4. IAS 16 – Property, Plant and Equipment
5. Valuation approaches used in IAS/IFRS (valuation of assets and liabilities at the time of their acquisition, or creation, valuation during assets holding and liabilities duration), IAS 21 – The Effects of Changes in Foreign Exchange Rates, IAS 23 – Borrowing Costs.
6. IAS 36 – Impairment of Assets, IAS 38 – Intangible Assets.
7. IAS 17 – Leases.
8. IAS 19 – Employee benefits, IAS 41 – Agriculture.
9. IAS 39 – Financial Instruments: Recognition and Measurement, IAS 32 – Financial Instruments: Presentation, IFRS 7 – Financial Instruments: Disclosures, IAS 37 – Provisions, Contingent Liabilities and Contingent Assets, IAS 18 – Revenue and others.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction