117-0043/06 – International Financial Reporting Standards (IFRS)

Gurantor departmentDepartment of Accounting and TaxesCredits5
Subject guarantorIng. Jana Hakalová, Ph.D.Subject version guarantorIng. Jana Hakalová, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory type B
Study languageCzech
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
BAR36 doc. Ing. Dagmar Bařinová, Ph.D.
HAK30 Ing. Jana Hakalová, Ph.D.
PAL36 Ing. Marcela Palochová, Ph.D.
PS150 Ing. Yvetta Pšenková, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit 2+2

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



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:

MACKENZIE, Bruce. Interpretation and Application of International Financial Reporting Standards. Hoboken: John Wiley & Sons, 2014. 1055 p. ISBN 978-1-118-73409-4. HAKALOVÁ, Jana, KRAJŇÁK, Michal, KRYŠKOVÁ, Šárka, LOSOVÁ, Miroslava, PALOCHOVÁ, Marcela a Yvetta PŠENKOVÁ. Účetnictví, audit, daně a pojistné v České republice v pojmech: česko-anglicky. Brno: Tribun EU, s.r.o., 2021. 100 s. ISBN 978-80-263-1627-5.

Recommended literature:

ALFREDSON, K. Applying international financial reporting standards. Milton: John Wiley & Sons, 2009. ISBN 978-0-470-81967-8.

Way of continuous check of knowledge in the course of semester


Other requirements

Other conditions are not determined.


Subject has no prerequisities.


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

Full-time form (validity from: 2019/2020 Summer semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Credit Credit 85  85 3
Mandatory attendence participation: Attendance at seminars is set at a minimum of 75%.

Show history

Conditions for subject completion and attendance at the exercises within ISP: Preparation of seminar work in the scope of min. 6 pages on the topic News in accounting (IFRS), taxes, and insurance premiums from 1 January 2023 and execution of the credit in due time.

Show history

Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2024/2025 (N0488A050004) Finance and Accounting (S01) Finance P Czech Ostrava 1 Choice-compulsory type B study plan
2023/2024 (N0488A050004) Finance and Accounting (S01) Finance P Czech Ostrava 1 Choice-compulsory type B study plan
2022/2023 (N0488A050004) Finance and Accounting (S01) Finance P Czech Ostrava 1 Choice-compulsory type B study plan
2021/2022 (N0488A050004) Finance and Accounting (S01) Finance P Czech Ostrava 1 Choice-compulsory type B study plan
2020/2021 (N0488A050004) Finance and Accounting (S01) Finance P Czech Ostrava 1 Choice-compulsory type B study plan
2019/2020 (N0488A050004) Finance and Accounting (S01) Finance P Czech Ostrava 1 Choice-compulsory type B study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction

2022/2023 Summer
2021/2022 Summer
2020/2021 Summer
2019/2020 Summer