Advanced accounting

The advanced accounting course focuses on selected financial accounting and reporting topics under IFRS standards. The first part of the course covers itemized topics such as : - IFRS conceptual framework ; - Revenue recognition ; - Long term contracting ; - Property, plant and equipment ; - Goodwill and other intangible assets ; - Accounting for financial instruments ; - Accounting for foreign currency denominated transactions ; - Current and deferred taxation ; - The Cash Flow Statement ; - Segment reporting. The second part of the course is dedicated to group accounting and financial reporting and covers : - accounting for business combinations (mergers and acquisitions) ; - consolidated financial statements (methods, processes and preparation of consolidated group accounts). Where applicable, the course highlights the key differences between IFRS and U.S. accounting and Belgian accounting legislation

To be in a position to :

• understand IFRS individual and consolidated financial statements ; 
• prepare such statements in a low to medium complexity environment ; 
• prepare a cash flow statement.

Connaissances et compétences pré-requises ou co-requises

Succesfull completion of a solid course of introduction to financial accounting  as part of the bachelor curriculum is a practical preprequisite for this advanced accounting course at master level.  

• Theory : lecture in classroom, including basic examples ;
• Case studies : advanced exercises, to be prepared in advance of the case study sessions in workgroups supervised by a case study assistant.

Références, bibliographie et lectures recommandées

• Financial Accounting, Reporting and Analysis, by Elliot & Elliot. International edition. London.
•  International Accounting Standards Board (IASB) : IAS/ IFRS standards and SIC pronouncements

Support(s) de cours

• Université virtuelle

Informations complémentaires

This course is delivered  by two professors  (Prof. P.-H. Bonnefoy and Prof. J.-P. Loozen).

Campus

Solbosch

Méthode(s) d'évaluation

• Examen écrit

Examen écrit

Closed books written examination, of the long form type (3 h 1/2) 

Construction de la note (en ce compris, la pondération des notes partielles)

Written examination rated on 20.

Langue(s) d'évaluation

• anglais