Financial Reporting Standards

obowiązkowe
specjalnościowy

w sali

The main objective of the lecture is to introduce students to practical aspects of Financing Reporting Standards and International Reporting Standards.

1. Accounting vs Financial Reporting.

2. History of international financial reporting regulations.

3. Role and goals of the system of International Financial Reporting Standards/ International Accounting Standards;

4. Financial statements and their elements – presentation

– IAS 1 Presentation of Financial Statements,

-IAS 7 Statement of Cash Flows

- IFRS 1 First-time Adoption of International Financial Reporting Standards,

5. Introduction to consolidation of Financial Statements.

-IFRS 10 - Consolidated Financial Statements.

6. The recognition of revenues and revenues’ accounting

IFRS 15 -Revenue from Contracts with Customers,

IFRS 8 - Operating Segments

6. Types of receivables- typical receivables operation , bad debts, aging of receivables – IAS 36

7. Inventory (Stocks) and its accounting - Cost of inventories, methods of inventories’ valuation, cost of goods sold and its accounting - IAS 2 - Inventory

6. Intangible Assets IAS 38

7. Fixed assets and its depreciation - IAS 16 Property, Plant and Equipment; IFRS 5 - Non-current Assets Held for Sale and Discontinued Operations

8 . Equity and methods of external financing

-bank credits and its recording – IAS 23 - Borrowing Costs

- leasing and its recording – IFRS 16 - Leases

- capital Stock

9 Financial Assets and Financial instruments – IFRS 7 Financial Instruments: Disclosures, IFRS 9 - Financial Instruments

10. Consolidation of financial statements

IAS 27 - Separate Financial Statements

IAS 28 - Investments in Associates and Joint Ventures

IFRS 3 -Business Combinations

11. Financial ratios

a/ liquidity ratios

b/ profitability ratios

c/ efficiency/turnover ratios

d/ other ratios

12. Practical cases analysis;

13. Solving the cases of presentation of financial data with agreement with IFRS rules

M.Bojańczyk, Corporate Accounting in the Unstable World,AFiB Vistula, Warsaw 2017

Financial Accounting an International Introduction”, David Alexander, Christopher Nodes

International Accounting Standards

International Financial Reporting Standards

Papers of ACCA Exam Financial Reporting

1.Graduate has advanced knowledge in the area of economic sciences, in particular finance and its place in the system of sciences, including the modern approach to creating finance - business relations and setting goals (building relationships, expert teams and results).

2. Student has advanced knowledge of the contemporary theories of finance sciences, including application of these theories to build business strategies

3. Student has advanced knowledge about the methods of establishing and running a business and methods of its financing as well as the use of advanced methods of improving efficiency, including effective financing of an innovative organization.

Activity during the classes– 10 %

Final Exam - 90 %