Předmět Intermediate Accounting: Generally Accepted Principles (1FU496)

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Materiál	Typ	Datum	Počet stažení

Obsah

(1) International harmonisation of accounting. Role of International Financial Reporting Standards (IFRSs) – history, principles, development, worldwide use, specifics of adoption in selected EU countries.(2) The conceptual framework for financial reporting under IFRSs - objective and users, qualitative characteristics of useful financial information and elements of financial statements.(3) Financial statement – content, structure and format of financial statements, relation among the statements, accompanying notes. Examples of real annual reports including financial statements.(4) Segment reporting.(5) Revenue from contracts with customers - sale of goods, rendering services, construction contracts.(6) Non-current assets – structure and general requirements on classification and presentation. Measurement of non-current assets – initial measurement, impairment, effect of government grants and borrowing costs.(7) Property, plant and equipment. Investment property.(8) Intangible assets. Internally generated assets, research and development.(9) Leases of assets.(10) Impairment of assets. Non-current assets held for sale and discontinued operations.(11) Inventory – retailing and manufacturing entities, entities rendering services.(12) Financial instruments – classification, measurement, presentation. Effective interest rate method.(13) Foreign currency – functional currency and presentation currency. Translation of amounts denominated in foreign currencies.(14) Employee benefits.(15) Provisions, contingencies and commitments.(16) Income taxes - current tax presentation, principle and effects of deferred income tax.(17) Related parties reporting.(18) Adoption of IFRS by a company - technical issues.

Získané způsobilosti

Upon successful completion of this course, students will be able:- explain IFRSs and their up-to-date influence on financial reporting in the world including the differences between old and new EU-countries;- describe both due process of IFRSs and endorsement process in the EU;- recognise and measure entity`s transactions and events, included in the scope of the course, in compliance with IFRSs;- prepare relevant disclosures related to transactions and events discussed in the course.

Literatura

TypAutorNázevMísto vydáníNakladatelRokISBNZCHAUDHRY, A.Interpretation and application of International financial reporting standards 2015.Hoboken:John Wiley & Sons, 2015.978-1-118-88955-8DHARRISON, W T.Financial accounting : international financial reporting standards.Harlow:Pearson, 2014.978-0-273-77780-9DMCKEITH, J. -- COLLINS, B.Financial accounting and reporting.London:McGraw-Hill Higher Education, 2013.978-0-07-713836-3DInternational Accounting Standards Board: IFRS Bound Volume 20xx (Blue Book for current year)

Požadavky

For successful passing of the course, students are required to obtain at least 50 % from semester tasks and at least 50 % from final test

Garant

doc. Ing. David Procházka, Ph.D.

Vyučující

doc. Ing. David Procházka, Ph.D.