Checking date: 09/05/2022

Course: 2022/2023

International Accounting
Study: Bachelor in Finance and Accounting (201)

Coordinating teacher: FLOROPOULOS , NIKOLAOS

Department assigned to the subject: Department of Business Administration

Type: Electives
ECTS Credits: 6.0 ECTS


Requirements (Subjects that are assumed to be known)
It is an advanced subject. For this reason, it is necessary to have all the knowledge of: - Introduction to Accounting - Financial Accounting
By the end of the course students should have: - Advanced knowledge of international accounting regulation. And be able to: - Analyse, account and interpret complex transactions from an accounting perspective. - Solve any new accounting problem using the knowledge acquired in this and previous courses. - Understand the effect of accounting policies on the figures reported on the financial statements. - Deal with particular problems related to advanced international accounting issues. Skills development: - Initiative and self-learning. - The ability to select and assign priorities within restricted resources and to organize work to meet tight deadlines. - Work in teams. - Present, discuss, report and defend views effectively. - Be able to deal with complex accounting issues. Attitudes: - Compliance with the fundamental ethical principles. - Commitment to continual improvement and lifelong learning. - Critical thinking and analysis of situations.
Skills and learning outcomes
Description of contents: programme
Part I: Introduction to international accounting 1. The regulatory framework. Differences National GAAP-IAS/IFRS-US GAAP. 2. Presentation of financial statements. 3. Accounting policies, estimates and errors (IAS 8). Part II: Topics in international accounting 4. Accounting for biological assets (IAS 41). 5. Non-current assets. Advanced topics: 5.1. Borrowing costs (IAS 23). 5.2. Government grants (IAS 20). 5.3. Licenses (IAS 38). 5.4. Fair value measurement (IFRS13). 5.5. Goodwill (IFRS 3). 6. Impairment of assets (IAS 36): 6.1. Impairment tests and recoverable amounts. Reversals. 6.2. Cash-generating units. 7. Accounting for Leases (IAS 17, IFRS 16): 7.1. Operating and finance leases. 7.2. Sale and leaseback transactions. 8. Provisions and events after the reporting period: 8.1. Provisions, contingent liabilities and contingent assets (IAS 37). 8.2. Adjusting and non-adjusting events. 8.3. Going concern issues arising after end of the reporting period. 9. Revenues recognition and performance measurement (IFRS 15): 9.1. IFRS 15 and the five-step model. 9.2. Identifying performance obligations. Determining and allocating transaction price. 9.3. Satisfaction of performance obligations and contract costs. Part III: Advanced topics in international accounting 10. Financial reporting in hyperinflationary economies (IAS 29): 10.1. Financial Statements at historic cost and current value. 10.2. Economies which stop being hyperinflationary. 11. Related party transactions and changes in foreign exchange rates: 11.1. Control and significant influence (IAS 24). 11.2. Related parties transactions. Disclosure (IAS 24). 11.3. Foreign exchange accounting. Gain and losses with foreign currency (IAS 21). 11.4. Translation to a presentation currency (IAS 21). 12. Earnings-per-share (IAS 33): 12.1. Basic and diluted EPS. 13. Segment reporting (IAS 8): 13.1. Operating segment. 13.2. Reportable segments. Part IV: Specialized Topics in International Accounting: Not-for-profit, and Public sector 14. Accounting for Not-for-profit (NPOs): 14.1. Definition of NPOs. 14.2. IFRS for SMEs. Adaptation to Non-for-profit. 15. Public Sector Accounting: 15.1. Public Sector Entities. 15.2. International Public Sector Accounting Standards (IPSAS). 16. Disclosures in financial statements of banks and building societies 16.1. Accounting policies and financial statements. 16.2. Specific contingencies and commitments.
Learning activities and methodology
Students will learn the theory related to this course with the guidance and material provided in class. This knowledge will be practiced and mastered through practical classes and tutorials. Moreover, students will work and practice the knowledge absorbed in class with homework and cases in class. This course consists of 6 ECTS. The objective of the theory and practical classes is to learn advanced and complex topics in accounting.
Assessment System
  • % end-of-term-examination 50
  • % of continuous assessment (assigments, laboratory, practicals...) 50
Calendar of Continuous assessment
Basic Bibliography
  • MELVILLE, A. International Financial Reporting: A practical Guide.. Pearson International. 2022
  • Wiley. Interpretation and Application of IFRS Standards. John Wiley & Sons, Ltd. 2019

The course syllabus may change due academic events or other reasons.