The course provides participants with an overview of corporate financial reporting under International Financial Reporting Standards (IFRS) and a deeper knowledge of selected IFRS standards. The course will introduce the International Accounting Standards Board (IASB) and its conceptual framework. It will explain the legal framework for the application of IFRS (e.g., IAS Regulation, Stock Exchange Regulations) and discuss the impact of accounting harmonization on accounting and reporting practices around the world. An overview of all applicable standards will be provided with some standards covered in more detail. For example, the course thoroughly presents accounting issues related to property, plant and equipment (IAS 16), revenue recognition (IFRS 15), fair value measurement (IFRS 13), non-financial liabilities (IAS 37), and financial instruments (IFRS 9). Accounting for investments and group accounting, however, will be covered in more detail in another course (Advanced Topics in IFRS).

By the end of the course, students will be able to:

• Understand the core principles and conceptual framework of IFRS.
• Identify key institutions and stakeholders (e.g., IASB, regulators, investors) and their roles in IFRS development.
• Interpret and analyze IFRS financial statements, including disclosures and notes.
• Apply IFRS recognition and measurement rules to real-world financial scenarios.
• Critically evaluate financial reporting decisions and the role of discretion in IFRS application.
• Follow and assess current political and practical developments in international financial reporting.

This course is a PI course with 80% attendance, this means students need to attend 80% of the lectures, irrespective of whether lectures are held on campus or online.

The course follows an interactive, application-driven approach, including:

• Lectures – Explanation of IFRS principles and their real-world applications.
• Practical Exercises – Hands-on analysis of financial reports.
• Class Discussions – Critical discussions on IFRS flexibility, financial reporting challenges, and investor perspectives.
• Up-to-Date Materials – Content based on international textbooks, IFRS standards, and real-world financial reports.

Relevant reading materials, exercises, and current IFRS updates will be provided via Canvas. Students are also encouraged to consult the IASB website and industry sources to stay updated on IFRS developments.

To successfully pass the course, students must achieve a minimum of 50% of the total possible points. 

The assessment structure is as follows:

• 25% Class Preparation & Participation
• 30% Quizzes
• 45% Final Exam

Successful completion of the courses "Orientierungskurs Finanzwirtschaft" and "Internes Rechnungswesen".

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