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International Accounting - B

Course code
Course type
MSc Course
Weekly Hours
HS 2023
Prof. Dr. Martin Glaum
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.

This course is designed to provide students with an understanding of the theory and practice of financial accounting and reporting in an international context.

Throughout this course, students will

  • learn about the main functions of financial accounting and reporting.
  • understand why accounting historically has developed differently across countries, and why there has been a drive towards an international harmonization of accounting regulation and practice in more recent years.
  • get (re-) acquainted with the basic techniques of financial accounting.
  • become familiar with the components of financial statements (balance sheet, income statement, cash flow statement), and comprehend how they relate to each other.
  • get introduced to International Financial Reporting Standards (IFRS), which are required or allowed as the basis for the financial reporting of companies in more than 100 countries around the globe; in the European Union, all stock-listed companies are required to prepare their consolidated financial statements in accordance with IFRS.
  • also learn about the most important differences between IFRS and U.S. Generally Accepted Accounting Principles (US-GAAP), which form the basis for the accounting of companies that are listed on US stock-exchanges.
  • become aware of the economic consequences of financial reporting, from the perspectives of preparers and of users of IFRS financial statements.
Date Time
Friday, 01.09.2023 11:30 - 15:15
Monday, 04.09.2023 11:30 - 15:15
Wednesday, 06.09.2023 15:30 - 18:45
Wednesday, 13.09.2023 15:30 - 18:45
Thursday, 14.09.2023 11:30 - 13:00
Thursday, 21.09.2023 15:30 - 18:45
Friday, 22.09.2023 09:45 - 13:00
Wednesday, 27.09.2023 15:30 - 18:45
The readings are based mainly on the following textbooks: Alexander/Jorissen/Hoogendoorn/van Mourik/Kirwan (2023), International FinancialReporting and Analysis, 9th edition, Cengage Learning.Harrison/Horngren/Thomas/Tietz/Suwardy (2018), Financial Accounting, 11th edition, Pearson.Picker/Clark/Dunn/Kolitz/Livne/Loftus/van der Tas (2016), Applying International Financial Reporting Standards, 4th edition, Wiley.Stolowy/Ding/Paugam (2020), Financial Accounting and Reporting, A Global Perspective, 6th edition, Cengage Learning.
Before each class, you should acquaint yourself with the relevant standards and read the assigned readings. In the lectures and in-class discussions, we will discuss accounting and reporting issues – their conceptual underpinnings, the relevant standards, corporate practices, and international differences in rules or interpretations. To deepen your understanding, we will also discuss practical exercises and examples. You can then further practice and test your knowledge of the topics covered in class with the quizzes and exercises which will be available on Moodle after each class.
Exam (100%)
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