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Lecturer(s)
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Paseková Marie, doc. Ing. Ph.D.
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Homola David, Ing. Ph.D.
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Course content
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Basic requirements for financial statements under IFRS Conceptual framework of IFRS IAS 7 Statement of Cash flow IAS 24 Related Party Disclosures IAS 12 Income Taxes IFRS 1 First-time Adoption of International Financial Reporting Standards IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IAS 23 Borrowing Costs IFRS 16 - Leases IAS 32 Financial Instruments: Presentation IFRS 7 Financial Instruments: Disclosures IFRS 9 Financial Instruments IFRS 15 Revenue from Contracts with Customers IAS 21 The Effects of Changes in Foreign Exchange Rates IAS 20 - Accounting for Government Grants and Disclosure of Government Assistance IFRS 3 Business Combinations IFRS 10 Consolidated Financial Statements
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Learning activities and teaching methods
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Lecturing, Practice exercises
- Participation in classes
- 52 hours per semester
- Home preparation for classes
- 38 hours per semester
- Preparation for course credit
- 25 hours per semester
- Preparation for examination
- 35 hours per semester
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| prerequisite |
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| Knowledge |
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| Knowledge of financial accounting. |
| Knowledge of financial accounting. |
| Knowledge of financial accounting. |
| Knowledge of financial accounting. |
| Knowledge of the subject Fundamentals of International Accounting. |
| Knowledge of the subject Fundamentals of International Accounting. |
| Knowledge of the subject Fundamentals of International Accounting. |
| Knowledge of the subject Fundamentals of International Accounting. |
| Skills |
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| Orientation in financial statements. |
| Orientation in financial statements. |
| Orientation in financial statements. |
| Orientation in financial statements. |
| learning outcomes |
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| Knowledge |
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| Students are able to understand the differences between Czech Accounting rules and International Financial Reporting Standards for practical applications. |
| Students are able to understand the differences between Czech Accounting rules and International Financial Reporting Standards for practical applications. |
| Characterize the structure and content of financial statements |
| Characterize the structure and content of financial statements |
| Explain the reasons for related party disclosure |
| Explain the reasons for related party disclosure |
| Explain the reporting and measurement of elements of interim financial statements |
| Explain the reporting and measurement of elements of interim financial statements |
| Understand the issue of operating segments |
| Understand the issue of operating segments |
| Describe the adjustments that a company must make when transitioning from its previous accounting principles to IFRS in its opening balance sheet |
| Describe the adjustments that a company must make when transitioning from its previous accounting principles to IFRS in its opening balance sheet |
| Define non-current assets held for sale and investment property |
| Define non-current assets held for sale and investment property |
| Characterize financial assets and financial liabilities |
| Characterize financial assets and financial liabilities |
| Explain the process of business combinations and clarify their specifics |
| Explain the process of business combinations and clarify their specifics |
| Explain the consolidation process |
| Explain the consolidation process |
| Skills |
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| Prepare a statement of cash flows using the indirect method |
| Prepare a statement of cash flows using the indirect method |
| Calculate and post deferred tax |
| Calculate and post deferred tax |
| Calculate the amount of capitalized interest |
| Calculate the amount of capitalized interest |
| Familiarize yourself with revenue recognition methods for accounting and reporting long-term contracts |
| Familiarize yourself with revenue recognition methods for accounting and reporting long-term contracts |
| Explain the reporting of government subsidies and grants |
| Explain the reporting of government subsidies and grants |
| Describe the revaluation method and the current rate method |
| Describe the revaluation method and the current rate method |
| Apply the rules for reporting (accounting) expenses and liabilities in relation to employee benefits |
| Apply the rules for reporting (accounting) expenses and liabilities in relation to employee benefits |
| teaching methods |
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| Knowledge |
|---|
| Practice exercises |
| Practice exercises |
| Lecturing |
| Lecturing |
| assessment methods |
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| Oral examination |
| Oral examination |
| Written examination |
| Written examination |
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Recommended literature
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International Financial Reporting Standards (IFRS) 2019 13e - Deutsch-Englische Textausgabe der von der EU gebilligten Standards. English & German (IFRS) Deutsche?Englische) (German Edition). Wiley. ISBN 3527509828.
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PKF International Ltd. Wiley IFRS 2017: Interpretation and Application of IFRS Standards.. John Wiley & Sons, Ltd. Print, 2017. ISBN 781119340225.
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Wiley Interpretation and Application of IFRS Standards (Wiley Regulatory Reporting) 1st Edition. Wiley, 2019. ISBN 978-1119577355.
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ABBAS A. M., GRAHAM, H., LIESEL, K. Wiley IFRS: Practical Implementation Guide and Workbook. Wiley Regulatory Reporting. 3rd Edition. ISBN 978-0470647912.
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PACTER, P. Pocket Guide to IFRS? Standards - the global financial reporting language. IFRS Foundation, 2017. ISBN 978-1-911040-49-1.
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