International acouting standarts
FP-FmusKAcad. year: 2019/2020
The subject is focused on the issues of the harmonization of financial reporting in the sense of the application of the International Financial Reporting Standards. The subject deals with the Conceptual Framework, with IAS/IFRS standards and with preparation of financial statements in accordance with the International Financial Reporting Standards.
Learning outcomes of the course unit
Students gain knowledge and skills for work with individual accounting standards and for producing financial statements in accordance with International Financial Reporting Standards.
Accounting of business entities in accordance with the Czech accounting law.
Recommended optional programme components
Recommended or required reading
MLÁDEK, R. Postupy účtování podle IFRS. Praha: Leges, 2009
JÍLEK, J. SVOBODOVÁ, J. Účetnictví podle Mezinárodních standardů účetního výkaznictví. Praha: Grada Publishing, a.s., 2011. ISBN 978-80-247-4710-1.
FICBAUER, J, FICBAUER, D. Mezinárodní účetní standardy a daňové systémy. Ostrava: KEY Publishing, 2012.
DVOŘÁKOVÁ, D. Finanční účetnictví a výkaznictví podle mezinárodních standardů IFRS. Praha: Bookretail s.r.o., 2011. ISBN 978-80-251-3652-2.
IFRS www.ifrs.org IFRS www.kacr.cz/ceske-zneni-ifrs-preklad-eu
STROUHAL, J. Slovník pojmů IFRS. Praha: Wolters Kluwer,a.s., 2014, ISBN 978-80-7478-545-0.
FINCH Clare. A student´s guide to International Financial Reporting Standards. 2nd ed. Wokingham: Kaplan Publishing (UK), 2008. ISBN 978-1-84710-708-4
HARRISON Walter, T. et al. Financial Accounting. International Financial Reporting Standards. 8th ed. Singapore: Pearson Education South Asia, 2011. ISBN 978-981-06-8457-0
Planned learning activities and teaching methods
In 3 hours of lectures per week students will have explained to them the theoretical and practical bases of the issues of the International Financial Reporting Standards.
Assesment methods and criteria linked to learning outcomes
The overall subject assessment consists of the assessment of the seminar work and the written test dealing with the topic of the subject. The seminar work is assessed at the scale of 0 to 100 points, the seminar works with assessment lower than 50 points need to be remake. The seminar work assessment has a 50 per cent weight on the overall subject assessment.
The written test consists of 30 multiple-choice questions, while the time for completing the test is 60 minutes. The questions are grouped by categories; each group could be assessment with different number of points. There are positive points for a correct answer, minus one point for a wrong one and none point for no answer. The written test assessment has a 50 per cent weight on the overall subject assessment.
Language of instruction
The essentials of accounting harmonisation and its development
Concise characteristics of IFRS and assumed further development of IFRS
Bodies concerned in the creation and updating of standards
IFRS – list and breakdown of IFRS, IFRIC and SIC , conceptual framework of IFRS,
Characteristics of individual requirements of IFRS/IAS -IFRS 1 to IFRS 41
IFRS for SMEs
The basic objectives of the course are
- to gain a basic knowledge in the field of the full text of the international financial reporting standards in comparison with the applicable Czech legislation
- to gain a basic knowledge in the field of the international financial reporting standards for SMEs
- the creation of conditions for the application of acquired knowledge in related specialist subjects and in solving problems from practice.
Specification of controlled education, way of implementation and compensation for absences
The teaching will take form of the lectures only, the dates of the lessons are following: October 7th, October 14th and October 21st, each time from 8 am to 1 pm.