Undergraduate Studies
Academic Year 2025-26
Selected Topics in IFRS Accounting
Files and Links
- Course Outline .pdf (Greek)
- Course Outline .pdf (English)
- Full Description @courses.xrh
- Link to e-class
5th or 7th Semester
Course id
ECTS
Course type
The purpose of this module is to cover the basic concepts of accounting recognition and measurement related to a number of specific IFRSs.
There is performed a thorough analysis of the Conceptual Framework of IFRS, in the European Union and elsewhere in the world, along with coverage of more specialised topics on accounting for inventories, tangible and intangible assets and their impairment. The module covers in detail IFRS accounting for financial instruments (classification, recognition and measurement after initial recognition). Other topics analysed in this module involve concepts covered by specific IFRSs e.g. the calculation of basic and diluted earnings per share, accounting for provisions and contingent assets and liabilities, revenue recognition, change in accounting policies and estimates, related party transactions, recognition of operating segments.
All accounting topics are covered and analysed through the systematic use of numerical examples and book-keeping exercises, so that relevant accounting recognition and treatment is presented in its complete form
At the end of the semester the students should be able to:
– Understand the role and importance of the Conceptual Framework for the efficient application of IFRS, along with the basic principles that guide the use of the Standards and the expected qualitative characteristics of IFRS-compatible financial reporting
– Possess an efficient overview and understanding of the basic accounting matters covered by IFRS.
– Understand how to apply and chose among a set of provided alternatives and solutions for the recognition and measurement of a series of accounting topics covered by specific Standards.
– Understand the degree of discretion that exists for corporate managers about recognition and measurement post-initial recognition when applying specific IFRSs, and how this discretion affects financial reporting quality.
– Understand the basic problems and practical challenges that may occur in the everyday business world regarding the recognition and measurement after initial recognition for a series of accounting topics covered by IFRS.
General Abilities
- Search, analysis and synthesis of financial data and relevant information.
- Critical thinking on scientific topics related to the content of the module, relevant decision-making.
- Development of analytical and synthetic thinking, ability for autonomous work.
- Working in an international environment, understanding the challenges of applying accounting rules in an international environment.
- Working in a multidisciplinary environment, collaborating with scholars of closely related scientific fields.
- Production of creative and deductive thinking and critical reasoning
Module content
Conceptual Framework of IFRS: content and analysis, the role and function of the International Accounting Standards Board (IASB), fundamental and enhancing characteristics of accounting information based on the Framework, process followed in order to produce, modify and adopt new IFRS, IFRICs.
- IFRS accounting for inventories (IAS 2) and Agriculture (IAS 41).
- Tangible asset (PP&E) recognition and measurement after initial recognition, cost and revaluation models, accounting treatment for costs incurred on PP&E after initial recognition, depreciation principles according to IFRS – component approach, exchanges between non-monetary assets (IAS 16).
- Investment properties (IAS 40)
- Interest capitalisation when acquiring or self-constructing PP&E (IAS 23).
- Accounting for state grants (IAS 20).
- Impairments, impairment reversals (IAS 36).
- Asset depletion (IFRS 6).
- Intangible assets, Research and Development Expenses – R&D, accounting for goodwill (IAS 38).
- Provisions, contingent liabilities and assets, provision of warranties and guarantees- accounting handling (IAS 37).
- Earnings per share, basic and diluted (IAS 33)
- Financial instruments: Classification of financial instruments by their issuer into equity or debt instruments based on IAS 32, accounting for compound instruments, convertible bonds, split accounting: separation of convertible debt into its debt and equity components
- Financial instruments: Long-term obligations, premium/discount bond issuance, bond premium/discount amortisation, effective interest rate method, zero coupon notes issuance: accounting treatment, measurement of long-term obligations at fair value (IFRS 9)
- Financial instruments: Accounting recognition and measurement for financial assets and liabilities; debt, equity, derivative instruments; SPPI (solely payments for principal and interest) test (IFRS 9)
- Financial instruments: Bookkeeping (journalising, use of T accounts) for accounting events related to financial instruments: measurement at fair value through profit and loss/at fair value through other comprehensive income, measurement at amortised cost, expected loss model (IFRS 9).
- Classification of investments into investment in affiliates (IAS 28) and subsidiaries (IFRS 10), basic principles.
- Accounting for leases (IFRS16)
- Revenue recognition – 5 step process, specialised topics on revenue recognition (provision of guarantees and warranties, sales returns) (IFRS 15).
- Change in accounting policies and estimates (IAS 8).
- Related party transactions (IAS 24).
- Events after the end of the reporting period (IAS10).
- Segment reporting (IFRS 8).
- Interim financial reports (IAS 34).
