Fundamentals of international financial reporting

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

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

The module aims to provide students with the skills required for a start in a commercial
a career in a commercial field, in particular commercial accounting and auditing.
auditing, are necessary.
Students pay particular attention to the increasing importance of accounting in accordance with
IFRS accounting, whereby the relevance of HGB accounting is emphasized by comparing selected accounting
accounting is taken into account by comparing selected accounting issues. By
by examining various balance sheet items in the light of different accounting philosophies
the students' analytical skills are challenged and encouraged.
Students are instructed to analyze specific issues, compare them with the
competing accounting objectives and to concretize them into an adequate balance sheet presentation.
to concretize them. In addition, independent analyses and independently
transfer services are required.

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.

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

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.

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.

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