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International Financial Reporting

Course code
Course type
MSc Course
Weekly Hours
HS 2021
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 reporting, with a focus on International Financial Reporting Standards (IFRS).

IFRS are global financial reporting standards independent from individual national jurisdictions. They are developed by the International Accounting Standards Board (IASB) in London, and they 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 exchange-listed companies are required to prepare their consolidated financial statements in accordance with IFRS.

The main course objectives are as follows:

  • to (re-) acquaint you with the basic techniques of financial accounting.
  • to introduce to you the institutions and processes behind IFRS accounting, in particular, the International Accounting Standards Board, IASB.
  • to present to you the Conceptual Framework that underlies IFRS. Financial accounting is based on estimates and judgments. Therefore, to prepare and to interpret IFRS financial statements competently one needs not only technical expertise, but also a solid and critical understanding of the objectives and the other concepts of IFRS.
  • to familiarize you with the components of IFRS financial statements (Balance Sheet, Income Statement, Cash Flow Statement etc.) and to understand how they relate to each other.
  • to discuss the most important accounting topics that are of relevance to managers, analysts, investors, and other users of financial reporting information, and to explain the
    relevant IFRS rules and requirements for recognition, measurement and disclosure.
  • and to raise your awareness of the economic consequences of financial reporting, from the perspectives of preparers and of users of IFRS financial statements.
Date Time
Wednesday, 01.09.2021 15:30 - 18:45
Wednesday, 08.09.2021 15:30 - 18:45
Friday, 17.09.2021 11:30 - 15:15
Tuesday, 28.09.2021 11:30 - 15:15
Wednesday, 29.09.2021 15:30 - 18:45
Tuesday, 05.10.2021 15:30 - 18:45
Thursday, 07.10.2021 15:30 - 17:00
Tuesday, 12.10.2021 15:30 - 18:45
Friday, 22.10.2021 14:00 - 15:30
Theories featuring in this course include accounting theory, information economics, and agency theory. To apply and critically assess accounting methods, students will employ critical reasoning skills. Research articles discussed in this course frequently apply multiple regression analysis and other econometric techniques.
The readings are based mainly on the following textbooks: Alexander/Jorissen/Hoogendoorn/van Mourik/Kirwan (2020), International Financial Reporting and Analysis, 8th 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.
The course will feature a combination of preparatory readings, in-class lectures and discussions, individual and group case studies as well as a final exam.
Exam 100%
International Accounting (BSc, or equivalent)
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