Course description

ANNOTATION OF THE CONTENT OF THE COURSE

_____ ACCOUNTING AND REPORTING ACCORDING TO INTERNATIONAL STANDARDS

(name of academic discipline)

______ normative discipline

(normative / selective)

__cycle of professional and practical training

(cycle of disciplines according to the curriculum)

The subject of the discipline

formation of students’ basic theoretical knowledge and practical skills in the organization and methods of accounting and reporting according to international standards.

The purpose of the discipline

to teach students to correctly apply theoretical knowledge and practical skills of building a system of accounting, organization and maintenance of assets, capital, liabilities and financial reporting in accordance with international standards, as well as analysis of information with recommendations for further management.

The main tasks

mastering the theoretical study of the requirements of international accounting standards and financial reporting; systematization of acquired knowledge on the formation of the accounting system at the enterprise; ensuring the assimilation of methodological approaches and practical techniques for preparing financial statements in accordance with international standards; formation of skills to interpret and use reporting information for management decisions; study of the organization of accounting according to international standards; mastering the methodology of transformation of financial statements prepared in accordance with national standards into reporting in accordance with international standards.

The place of the discipline in the structural and logical scheme of master’s training

The discipline “Accounting and Reporting by International Standards” is a mandatory component of the preparation of masters in accounting and taxation. It is based on knowledge formed in the study of such disciplines as “Microeconomics”, “Accounting”, “Financial Accounting”, “Management Accounting”, “Business Analysis”, “Organization of Accounting and Optimization of Taxation” and forms a knowledge base for study such disciplines as “Strategic Accounting and Analysis”, “Organization and methods of financial investigations”, “Analysis by type of economic activity”, “Accounting in the management of economic entities”.

Requirements for competencies, knowledge and skills

As a result of studying the discipline, the student must have the following competencies:

general:

– Ability to identify, pose and solve problems.

– Ability to communicate in a foreign language.

– Ability to conduct research at the appropriate level.

– Ability to work in an international context.

– Appreciation and respect for diversity and multiculturalism.

– Ability to act on the basis of ethical considerations (motives).

– Ability to abstract thinking, analysis and synthesis.

special:

– The ability to generate and use accounting information to make effective management decisions at all levels of enterprise management in order to increase the efficiency, effectiveness and social responsibility of the business.

– Ability to organize the accounting process and regulate the activities of its performers in accordance with the requirements of enterprise management.

– Ability to apply theoretical, methodological and practical approaches to the organization of accounting, control, planning and optimization of tax calculations.

– Ability to prepare financial statements in accordance with international standards, to correctly interpret, disclose and use relevant information to make effective management decisions.

– Ability to apply methods and techniques of analytical support of modern management systems, taking into account the development strategy of the enterprise in conditions of uncertainty, risk and / or asymmetry of information.

a) know:

– purpose and ways of harmonization of accounting and financial reporting;

– structure and content of international accounting standards and financial reporting;

– tasks and the need to apply international accounting standards and financial reporting;

– differences in the order of accounting and preparation of financial statements in accordance with international and national standards;

– the essence of methodological principles and methods of accounting for assets. liabilities, equity required by International Accounting Standards;

– methods of filling out financial statements in accordance with the requirements of international standards;

– the procedure for presenting financial statements in accordance with international standards.

b) be able to:

– apply accounting and financial reporting standards;

– fill in the reporting forms used in international practice: statement of financial position at the end of the period, statement of comprehensive income for the period; statement of changes in equity for the period; cash flow statement for the period; notes containing a summary of significant accounting policies and other explanations; additional report on the financial condition at the beginning of the comparative period;

-use accounting information to make management decisions;

– apply best practices in the organization of accounting according to international standards in domestic accounting practice.

Program learning outcomes

generate financial statements in accordance with international standards for businesses at the corporate level, disclose and use relevant information for management decisions;
know the theory, methodology and practice of forming accounting information at the stages of the accounting process and control for current and potential management needs of business entities, taking into account professional judgment;
organize, develop, model accounting systems and coordinate the activities of accounting staff, taking into account the needs of business management;
have innovative technologies, justify the choice and explain the application of new methods of preparation and provision of accounting information for the management of the entity;
apply scientific research methods in the field of accounting, auditing, analysis, control and taxation and implement them in professional activities and business practice.

SECTION 3. THEMATIC PLAN OF THE COURSE

Topic number

Name topics

Topic 1 The value of International Accounting Standards and Financial Reporting, the procedure for their development and implementation
Topic 2 Accounting policy: purpose, objectives, form of presentation under IFRS
Topic 3 Accounting for long-term assets
Topic 4 Accounting for cash and cash equivalents
Topic 5 Inventory accounting
Topic 6 Accounting for equity and liabilities
Topic 7 Liabilities and payments to employees
Topic 8 The essence and requirements for financial reporting
Topic 9 Financial reporting according to international standards and its characteristics