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International Financial Reporting Standards

Type of study Follow-up Master
Language of instruction Czech
Code 117-0043/06
Abbreviation IFRS
Course title International Financial Reporting Standards
Credits 5
Coordinating department Department of Accounting and Taxes
Course coordinator Ing. Jana Hakalová, Ph.D.

Subject syllabus

Framework syllabus of lectures:
1. Principles of regulation and harmonization of accounting in the global scale, convergence of IFRS and US GAAP. The conceptual framework of IFRS and International Financial Reporting Standards Overview, IFRS 1 – First-time Adoption of International Financial Reporting Standards, IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors.
2. IAS 1 – Presentation of Financial Statements, IAS 10 – Events after the Reporting Period, IAS 27 –Consolidated and Separate Financial Statements, IAS 7 – Statement of Cash Flows.
3. IAS 2 – Inventories.
4. IAS 16 – Property, Plant and Equipment
5. Valuation approaches used in IAS/IFRS (valuation of assets and liabilities at the time of their acquisition, or creation, valuation during assets holding and liabilities duration), IAS 21 – The Effects of Changes in Foreign Exchange Rates, IAS 23 – Borrowing Costs.
6. IAS 36 – Impairment of Assets, IAS 38 – Intangible Assets.
7. IAS 17 – Leases.
8. IAS 19 – Employee benefits, IAS 41 – Agriculture.
9. IAS 39 – Financial Instruments: Recognition and Measurement, IAS 32 – Financial Instruments: Presentation, IFRS 7 – Financial Instruments: Disclosures, IAS 37 – Provisions, Contingent Liabilities and Contingent Assets, IAS 18 – Revenue and others.

Literature

MACKENZIE, Bruce. Interpretation and Application of International Financial Reporting Standards. Hoboken: John Wiley & Sons, 2014. 1055 p. ISBN 978-1-118-73409-4.
HAKALOVÁ, Jana, KRAJŇÁK, Michal, KRYŠKOVÁ, Šárka, LOSOVÁ, Miroslava, PALOCHOVÁ, Marcela a Yvetta PŠENKOVÁ. Účetnictví, audit, daně a pojistné v České republice v pojmech: česko-anglicky. Brno: Tribun EU, s.r.o., 2021. 100 s. ISBN 978-80-263-1627-5.

Advised literature

ALFREDSON, K. Applying international financial reporting standards. Milton: John Wiley & Sons, 2009. ISBN 978-0-470-81967-8 .