MPF_AACC International Accounting

Faculty of Economics and Administration
Autumn 2017
Extent and Intensity
2/1/0. 8 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Oleksandra Lemeshko (lecturer)
Ing. Petr Valouch, Ph.D. (lecturer)
Ing. Oleksandra Lemeshko (seminar tutor)
Ing. Petr Valouch, Ph.D. (seminar tutor)
Guaranteed by
Ing. Petr Valouch, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Mgr. Jana Nesvadbová
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Mon 17:10–18:45 P312
  • Timetable of Seminar Groups:
MPF_AACC/01: Thu 17:10–18:45 P312, O. Lemeshko
Prerequisites
( BPF_FIU1 Financial Accounting 1 ) && ( BPF_FIU2 Financial Accounting 2 ) && (! MPF_AIAC International Accounting ) && (!NOWANY( MPF_AIAC International Accounting ))
The course International Accounting is a follow-up to the basic courses of accounting at other high schools and knowledge gained there. No special prerequisites are demanded.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 19 student(s).
Current registration and enrolment status: enrolled: 0/19, only registered: 0/19
fields of study / plans the course is directly associated with
there are 6 fields of study the course is directly associated with, display
Course objectives
Course learning objectives are:
(1) to provide an understanding of true and fair view in accounting and reporting;
(2) to develop and train critical thinking and professional judgement while accounting and reporting under IFRS and IFRS for SME;
(3) to give a complex up-to-date insight into IFRS for SME;
(4) to apply the obtained theoretical knowledge in real-world settings.
Learning outcomes
At the end of this course a student should be able to:
- describe and explain basic principles, assumptions and approaches of IFRS for SMEs;
- use basic methods of accounting viewing economic processes in companies according to IFRS for SMEs;
- analyze simple economic problems, establish basic procedures to assess an impact of accounting and financial solutions on entity's business result according to IFRS for SMEs;
- compile financial statements of an entity according to IFRS for SMEs;
- transit to IFRS for SMEs.
Syllabus
  • 1. IFRS for SMEs. Concepts and Principles.
  • 2. Financial statements presentation. Consolidated financial statements.
  • 3. Accounting policy, estimates and errors. Property, plant and equipment.
  • 4. Intangible assets, business combinations and goodwill.
  • 5. Lease. Impairment of assets.
  • 6. Inventories. Provisions and contingencies.
  • 7. Financial instruments.
  • 8. Equity and liabilities. Revenue.
  • 9. Income tax. Foreign currency transactions.
  • 10. Transition to IFRS for SMEs.
Literature
    required literature
  • International financial reporting standard for small and medium-sized entities (IFRS for SMEs). London: International Accounting Standards Board, 2009, 230 s. ISBN 9781907026171. info
    recommended literature
  • IFRS made easy. Edited by Steven M. Bragg. Hoboken, N.J.: Wiley, 2011, x, 266 p. ISBN 9781118003626. info
Teaching methods
Lecture of the theory, on the seminars accounting of basic economic operations typical for companies using IFRS for SMEs. Compilation of simplified financial statements. Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.
Assessment methods
Claims for exam:
- 85% participation of seminars is required (i.e. absence at max 2 seminars is allowed).
- 60% of final grade can be received during final exam and 40% of final grade can be received during seminars. 40% is splitted into 2 midterm tests (10% each) and 1 presentation (20%) or activity at the seminars (20%).
- In case of practical presentation (i.e. exercise), the exercise is chosen by a student or by a lecturer always minimally one week in advance. Unless the student is excused (he/she is ill), the student has to present the exercise at specified date. Topics for theoretical presentations should be agreed with a lecturer at the beginning of the semester.
- Two midterm tests, minimum required amount is 60% of correct answers. Tests contain theoretical (questions) and practical part (exercises).
- Final test is a written exam.
Language of instruction
English
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
Teacher's information
https://is.muni.cz/auth/predmet/econ/podzim2017/MPF_AACC
The course is also listed under the following terms Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.
  • Enrolment Statistics (Autumn 2017, recent)
  • Permalink: https://is.muni.cz/course/econ/autumn2017/MPF_AACC