| Course Unit Code | 117-0043/06 |
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| Number of ECTS Credits Allocated | 5 ECTS credits |
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| Type of Course Unit * | Choice-compulsory type B |
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| Level of Course Unit * | Second Cycle |
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| Year of Study * | First Year |
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| Semester when the Course Unit is delivered | Summer Semester |
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| Mode of Delivery | Face-to-face |
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| Language of Instruction | Czech |
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| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
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| Name of Lecturer(s) | Personal ID | Name |
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| PS150 | Ing. Yvetta Pšenková, Ph.D. |
| BAR36 | doc. Ing. Dagmar Bařinová, Ph.D. |
| HAK30 | Ing. Jana Hakalová, Ph.D. |
| PAL36 | Ing. Marcela Palochová, Ph.D. |
| Summary |
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| The aim of the course is to familiarise students with the principles of reporting according to the International Financial Reporting Standards in comparison with Czech accounting practice. The students will learn the issue of selected international standards (IAS/IFRS) including their practical application on examples. Part of the lectures and seminars will be a comparison of each standard with the current accounting legislation in the Czech Republic and the introduction of differences in relation to IAS/IFRS. |
| Learning Outcomes of the Course Unit |
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The course will introduce students to the principles of accounting and reporting under international financial reporting standards in comparison with the Czech accounting practices.
The course includes the most important currently in force updated the IAS / IFRS, including examples of practical applications.
The interpretation will be compared with any standard applicable accounting regulations in the Czech Republic and the differences with the introduction of IAS/ IFRS.
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| Course Contents |
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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.
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| Recommended or Required Reading |
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| Required Reading: |
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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.
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ELLIOTT, Barry and Jamie ELLIOTT. Financial Accounting and Reporting. 20th ed. Harlow: Pearson, 2022. 832 p. ISBN 978-1-292-39980-5.
KRUPOVÁ, Lenka. Leasingy podle IFRS. Praha: 1. VOX, a.s. – Nakladatelství, 2017, 116 s. ISBN 978-80-87480-54-0.
VAŠEK, Libor. Účetnictví – výkaznictví vybrané oblasti IFRS. Praha: Institut certifikace účetních, a.s., 2016. 200 s. ISBN 978-80-87985-09-0. |
| Recommended Reading: |
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| ALFREDSON, K. Applying international financial reporting standards. Milton: John Wiley & Sons, 2009. ISBN 978-0-470-81967-8. |
JANOUŠKOVÁ, Martina. Mezinárodní standardy účetního výkaznictví. Cvičné příklady. 14. vyd. Praha: INSTITUT CERTIFIKACE ÚČETNÍCH, a.s., 2015. 254 s. ISBN 978-80-87985-00-7.
PROCHÁZKA, David. Ekonomické dopady implementace IFRS v Evropě. Praha: Vysoká škola ekonomická v Praze, Nakladatelství Oeconomica, 2015. 154 s. ISBN 978-80-245-2097-1.
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| Planned learning activities and teaching methods |
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| Lectures, Tutorials |
| Assesment methods and criteria |
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| Task Title | Task Type | Maximum Number of Points
(Act. for Subtasks) | Minimum Number of Points for Task Passing |
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| Credit | Credit | 85 | 85 |