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Fundamentals of international financial reporting

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Course information

Module:  8a-d Internationale Accounting and Auditing I
Credits: 4 SWS / 7,5 Credits
Language: German/Englisch
Format: tba
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Lecturer: Prof. Dr. Christiane Pott
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Lecturer: Sandra Chrzan
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  1. Introduction to International Financial Reporting
  2. Institutional Framework of IFRS
  3. Fundamentals of accounting according to IFRS
  4. Recognition and measurement of selected balance sheet items


The globalisation of the financial markets already led at the end of the 1990s to more and more companies in Germany preparing financial statements according to international standards in addition to the obligatory financial statements under commercial law. A driver for this was the admission of securities to trading on the stock exchanges in New York, London and Tokyo. After capital market-oriented accounting according to International Accounting Standards (IAS) had become widespread in Europe, the American Security and Exchange Commission (SEC) mandatorily required accounting according to US GAAP for the admission of securities to the American market. In order to standardise accounting in Europe, the EU Commission decided on the mandatory application of IFRS for consolidated financial statements of capital market-oriented companies from 2005.

IFRS differ fundamentally from German commercial accounting. The focus is no longer on creditor protection and capital maintenance, but primarily on the informational interests of shareholders. Therefore, the IFRS follow the principle of the true and fair view. In addition to the differences in content, the IFRS are also written in case law and are not adopted through a legislative process, but are developed by the IASB in several stages.

This module teaches the basics of accounting according to the regulations of the International Accounting Standards Board (IASB). The principles of accounting according to International Financial Reporting Standards (IFRS), the accounting systems and the standards for recognition, measurement and disclosure are explained. Furthermore, the supplementary reporting elements (e.g. notes, management commentary) are dealt with. In addition, significant differences to accounting according to the German Commercial Code (HGB) are pointed out.


Examination modalities according to the Bachelor Regulations

At the end of the summer semester (main examination date) - related to the material of lecture and exercise - a 90-minute written exam is offered. 7.5 ECTS credit points can be acquired. At the beginning of the winter semester, a make-up examination date is held under the same conditions as the main examination.

Notes on the examination

Please refer to the information sheet for all information on the permitted aids for the digital examinations from the Chair "International Accounting and Auditing".

Knowledge acquired during the course

After successful attendance of the course, you will be familiar with the basic concept of International Financial Reporting Standards (IFRS) and will be able to prepare annual financial statements according to IFRS largely independently on the basis of these standards and to interpret published financial statements. You will also acquire the competence to critically analyse discussion papers and exposure drafts on the (further) development of new and existing standards.

Perspectives in practice

The knowledge of international accounting to be acquired is an important prerequisite for employment in the financial departments of large nationally and internationally active companies, for the tasks of credit and financial analysts in credit institutions and, above all, for employment in auditing, tax consulting and management consulting companies.

Prior knowledge

The course assumes basic knowledge of HGB accounting; this knowledge can be acquired, for example, in the course "Accounting" (Module 4a).

Literature references

Heuser, Paul J./Theile, Carsten: IFRS Handbuch: Einzel- und Konzernabschluss, 5. Auflage, Verlag Dr. Otto Schmidt, Köln 2012.
Pellens, Bernhard/Fülbier, Rolf Uwe/Gassen, Joachim/Sellhorn, Thorsten: Internationale Rech­nungs­legung, 9. Auflage, Schäffer-Poeschel, Stuttgart 2014.
Wiley-VCH (Hrsg.): International Financial Reporting Standards (IFRS) 2014, 8. Auflage, Wiley-VCH, Weinheim 2014.


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Location & approach

The campus of TU Dort­mund University is located close to interstate junction Dort­mund West, where the Sauerlandlinie A 45 (Frankfurt-Dort­mund) crosses the Ruhrschnellweg B 1 / A 40. The best interstate exit to take from A 45 is "Dort­mund-Eichlinghofen" (closer to Campus Süd), and from B 1 / A 40 "Dort­mund-Dorstfeld" (closer to Campus Nord). Signs for the uni­ver­si­ty are located at both exits. Also, there is a new exit before you pass over the B 1-bridge leading into Dort­mund.

To get from Campus North to Campus South by car, there is the connection via Vogelpothsweg/Baroper Straße. We recommend you leave your car on one of the parking lots at Campus North and use the H-Bahn (suspended monorail system), which conveniently connects the two campuses.

TU Dort­mund University has its own train station ("Dort­mund Uni­ver­si­tät"). From there, suburban trains (S-Bahn) leave for Dort­mund main station ("Dort­mund Hauptbahnhof") and Düsseldorf main station via the "Düsseldorf Airport Train Station" (take S-Bahn number 1, which leaves every 20 or 30 minutes). The uni­ver­si­ty is easily reached from Bochum, Essen, Mülheim an der Ruhr and Duisburg.

You can also take the bus or subway train from Dort­mund city to the uni­ver­si­ty: From Dort­mund main station, you can take any train bound for the Station "Stadtgarten", usually lines U41, U45, U 47 and U49. At "Stadtgarten" you switch trains and get on line U42 towards "Hombruch". Look out for the Station "An der Palmweide". From the bus stop just across the road, busses bound for TU Dort­mund University leave every ten minutes (445, 447 and 462). Another option is to take the subway routes U41, U45, U47 and U49 from Dort­mund main station to the stop "Dort­mund Kampstraße". From there, take U43 or U44 to the stop "Dort­mund Wittener Straße". Switch to bus line 447 and get off at "Dort­mund Uni­ver­si­tät S".

The H-Bahn is one of the hallmarks of TU Dort­mund University. There are two stations on Campus Nord. One ("Dort­mund Uni­ver­si­tät S") is directly located at the suburban train stop, which connects the uni­ver­si­ty directly with the city of Dort­mund and the rest of the Ruhr Area. Also from this station, there are connections to the "Technologiepark" and (via Campus Süd) Eichlinghofen. The other station is located at the dining hall at Campus Nord and offers a direct connection to Campus Süd every five minutes.

The AirportExpress is a fast and convenient means of transport from Dortmund Airport (DTM) to Dortmund Central Station, taking you there in little more than 20 minutes. From Dortmund Central Station, you can continue to the university campus by interurban railway (S-Bahn). A larger range of international flight connections is offered at Düsseldorf Airport (DUS), which is about 60 kilometres away and can be directly reached by S-Bahn from the university station.

The facilities of TU Dortmund University are spread over two campuses, the larger Campus North and the smaller Campus South. Additionally, some areas of the university are located in the adjacent "Technologiepark".

Street navigation from and to the TU Dortmund University:

OpenStreetMap Routing Machine

The document and the graphic represent the motorways and federal highways around the TU Dortmund University in a very simplified way:

Environment map (PDF)

Environment map (graphic)

This interactive map helps you find and navigate between facilities and buildings on campus:

Interactive campus map

This document contains a simple campus map in German and English:

Campus map (PDF)