Course description

SUMMARY OF THE CONTENTS OF THE COURSE

Standardization of accounting and reporting

(title of the course)

Selective discipline

(regulatory / selective)

Specialization “Accounting, Analysis and Audit”

(cycle of disciplines in the curriculum)

Subject of the course

Modern basic theoretical knowledge and practical skills in the organization and methodology of accounting and reporting according to international standards.

The purpose of the course

Formation of theoretical knowledge and practical skills of building accounting system, organization and keeping at the enterprises of accounting of assets, capital, obligations and preparation of financial statements according to international standards.

The main tasks

In the course of studying the discipline, students are tasked with the following tasks:

mastering the theoretical requirements of international accounting standards and financial reporting;
systematization of the acquired knowledge on formation of the accounting system at the enterprise;
study of accounting organization by international standards;
assimilation of methodological approaches and practical techniques for preparation of financial statements by international standards;
developing the ability to interpret and use reporting information to make management decisions;
mastering the method of transformation of financial statements, prepared according to national standards, into reporting according to international standards.

The place of the discipline in the structural and logical scheme of preparation of bachelors / masters

The discipline of Accounting and Reporting Standardization is a selective training course for Bachelor of Accounting and Taxation. Her studies are organically related to such disciplines as “Accounting (General Theory)”, “Financial Accounting”, “Accounting in Economics”, “Business Analysis”, “Public Sector Accounting”, “Management Accounting” »,« Information systems and technologies in accounting and taxation »,« Accounting and reporting in taxation »,« Reporting of enterprises »,« Reporting in the public sector of economy »and others.

Requirements for competences, knowledge and skills

As a result of studying the discipline, the student should be formed the following competencies:

common:

– ability to think abstractly, analyze and synthesize;

– the ability to learn and master modern knowledge;

– ability to work in a team or autonomously;

– ability to communicate in the state language both verbally and in writing;

– the ability to conduct research at the appropriate level.

special:

– analyze the development of systems, models and methods of accounting and reporting at the national and international levels in order to substantiate the feasibility of their introduction in the enterprise;

– understand the peculiarities of implementing IAS and IFRS in the operation of Ukrainian enterprises.

The study of the discipline “Standardization of accounting and reporting” implies the achievement of such a qualification level of specialist training, for which he must:

a) to know:

the nature, objectives and necessity of using accounting and reporting standards;
a list of major national and international accounting and reporting standards, their structure and content;
the procedure for the development, approval and dissemination of accounting and reporting standards;
bodies responsible for developing and implementing accounting and reporting standards in Ukraine and internationally;
approaches to recognition of assets, liabilities, capital, income and expenses in accordance with the requirements of national and international accounting and reporting standards;
common and distinguishing features and features of applying national and international accounting and reporting standards;
the nature of the choice of accounting policies and forms of IFRS financial statements and their differences from financial statements according to national accounting standards;
organizational and methodological aspects of accounting and preparation of financial statements in accordance with the requirements of current standards;
the purpose and ways of harmonizing accounting and financial reporting;
the task and necessity of applying international accounting standards and financial statements;

– differences in accounting procedures and financial reporting according to international and national standards;

– the method of completing the financial statements and the procedure for presenting them in accordance with the requirements of international standards.

b) be able to:

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

-Use accounting information to make management decisions;

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

Content of the discipline by topic

Topic 1. The essence and types of accounting and reporting standards.
Topic 2. The values ​​and main features of International Accounting Standards (IAS).
Topic 3. Organization of the Committee on International Accounting Standards.
Theme 4. Stages of traditional processes of development of the international accounting standards.
Topic 5. International Financial Reporting Standards (IFRS).
Topic 6. General principles of operation of the International Financial Reporting Standards system.
Topic 7. Content of International Standards.
Topic 8. The relationship and impact of standardization of accounting and reporting on the financial and economic activities of business entities.