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International Financial Reporting

Course code
ACCT601
Course type
MSc Course
Weekly Hours
2,5
ECTS
5.0
Term
HS 2022
Language
Englisch
Lecturers
Dennis Jullens
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). They are developed by the International Accounting Standards Board (IASB) in London, and they are required or allowed 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 course takes the user perspective of financial reporting; analysts, investors, bankers, consultants use financial statements to assess performance, make forecasts of performance and use these forecasts in economic decisions such as investing, M&A or lending.

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 the Conceptual Framework that underlies 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 both preparers and of users of IFRS financial statements.
Date Time
Monday, 05.09.2022 11:30 - 15:15
Monday, 12.09.2022 11:30 - 15:15
Monday, 19.09.2022 11:30 - 15:15
Monday, 26.09.2022 11:30 - 15:15
Wednesday, 05.10.2022 08:00 - 13:00
Monday, 10.10.2022 11:30 - 15:15
Monday, 17.10.2022 11:30 - 15:15
  • 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 the Conceptual Framework that underlies 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 both preparers and of users of IFRS financial statements.
The lectures, articles and relevant financial statements will be provided on Moodle. As a reference book, I recommend ‘Understanding Financial Accounting: A guide for non-specialists’ by Winfield, Graham and Miller (2021, Oxford University Press)
Exam 100%
International Accounting (BSc, or equivalent)
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