040125 KU Internationale Rechnungslegung B (MA) (2021S)

This course focuses on contemporary development in financial accounting and the international harmonization process. IASB, and the EU are major players in the harmonization process of financial accounting, and they have specific implication in national contexts. On the one hand, accounts have to be suitable for the national context and on the other hand, financial accounting requirements must also be internationally useful. These dual requirements on accounting necessitate specific demands on the development of models and standards for financial accounting. As of 2005, all public companies in the EU use the IASB's accounting standards.
This implied new conditions for recognition in all EU Member States. Multinational companies must also handle financial accounting and contextual differences regarding their financial reporting, which are parts also covered in the course.

The course will provide participants with knowledge of accounting and reporting for international groups by introducing students to International Financial Reporting Standards (IFRS) at an intermediate level.

Intended Learning Outcomes (ILO)
On completion of the course the students will be able to
Knowledge and understanding
1. be oriented about the foundations and developments of contemporary financial accounting in an international context
2. analyze how developments in international standard settings affect the role of financial accounting as an information source within national and international context
Skills and abilities
3. analyze independently how contemporary accounting issues have developed in different contexts
4. apply research-based literature to describe and analyze particular aspects of voluntary corporate disclosures related to own projects
Judgement and approach
5. display a reflective approach to the role of theory in contemporary financial accounting
6. independently define and treat a relevant question based on relevant theories and practices

The course is aimed at the student's acquirement of in-depth knowledge of financial accounting for various types of companies. Furthermore, students will deepen their capacity for independent analysis of different financial accounting problems in an international context.