International Financial Reporting Standards

Academic Level: BSc
Credit Value: 5 ECTS
Hours in class: 32 hours
Lecturer: prof. Olga Solovyeva
Faculty of Economics
Lomonosov MSU
Course outline
Introduction to IFRSs:
Scope of IFRSs (financial, management and tax accounting; financial accounting, financial statements and financial reporting);
Users and their informational needs, objective of financial statements;
Regulation of financial accounting in different countries, reasons for differences, accounting models (British-American, Continental, South-American)
IFRSs as global standards: IFRSs role, structure of IASCF (former IASC), IFRSs - content
Framework for the Preparation and Presentation of Financial Statements:
Underlying assumptions;
Qualitative characteristics;
Elements of financial statements
Recognition criteria
Measurement bases
Accounting equation and its link to different financial statements
General requirements to the presentation of financial statements (IAS 1)
Statement of financial position: structure and content (IAS 1)
Statement of comprehensive income: structure and content (IAS 1)
Other financial statements (IAS 1)
Property, Plant and Equipment (IAS 16)
Intangible Assets (IAS 38)
Inventories (IAS 2)
Debtors/receivables (Provision for doubtful debts) (Framework, IAS 39, general practice)
Financial investments (non-derivative): financial assets at fair value through profit and loss, held-to-maturity investments, available-for-sale financial assets (IAS 39)

14 мар 2011