Accounting Theory and IFRS (IFRS)

Course description

Due to increased globalization of financial markets and internationalization of operations of large corporate organizations, there is a need of a single set of high quality financial reporting standards. International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB), have been issued to fill this need. Many major countries have either mandated IFRS or have established time lines to adopt or converge with IFRS in the near future. IFRS have been mandated by the European Union (EU) parliament since January 2005 for companies listed on regulated markets.

This course provides an increased understanding of how to apply IFRS:s in accounting for practical circumstances, and discusses IFRS:s in the light of accounting theory, thereby creating an ability in the student 1) to understand the complexities of selected elements of financial reporting and accounting principles applicable to IFRS, 2) apply this knowledge to these elements of financial reporting, and 3) to, from a theoretical perspective, scrutinize and challenge conceptions around IFRS.

Intended Learning Outcomes

The overall aim of the course is to provide the students with knowledge regarding the relationship between accounting theory and the current development of standard setting and standards and to combine these in order to know how to undertake recognition and valuation of transactions in financial reporting. Upon completion of the course, students should be able to:

Knowledge and understanding
1. Define and explain concepts and methods relating to accounting theory towards the IASB conceptual framework.
2. Understand the general principles regarding methods for recognition and measurement of selected elements of International Financial Reporting Standards.

Skills and abilities
3. Based on knowledge of accounting theory, apply methods for recognition and measurement requirements for elements of financial statements according to IFRS by the International Accounting Standards Board.

Judgement and approach
4. Reflect on the linkage between accounting theory and methods for recognition and measurement of transactions to elements of financial reporting in IFRS.
5. Combine achieved skills regarding elements of financial reporting in order to undertake recognition and measurement of transactions using International Financial Reporting Standards.

Change semester  

Course title:
Accounting Theory and IFRS
Semester: Autumn term 2019
Study period: 4
Rate of studies: 100%
Level: Graduate level (second cycle)
Credits: 7.5
Language of instruction: English

Course code: FE5427



Course coordinator:
Christina Gabrielsson
Head of course:
Bino Catasús
Bino Catasús
Student services:
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