INTRODUCTION TO IFRS

The module builds upon students’ knowledge of financial accounting and broadens their technical competence and critical understanding of financial reporting by introducing the theory and practice behind the application of International Financial Reporting Standards. The topics analysed include the following:

• Global convergence to IFRS
• The Conceptual Framework of Financial Reporting
• Revenue recognition issues
• Asset valuation (tangible and intangible non-current assets, inventories, receivables, financial instruments)
• Liability measurement
• Provisions and contingent liabilities
• Consolidated financial statements