Key Topics in Financial Accounting (2225.YR.005792.1)

General information

Type:	OPT	Curs:	1	Period:	S semester
ECTS Credits:	3 ECTS

Teaching Staff:

Group	Teacher	Department	Language
Year 1	Giulia Redigolo	Economía, Finanzas y Contabilidad	ENG

This course is restricted to MSc in Finance students.

Students should have basic accounting knowledge acquired from previous courses.

This course builds on the knowledge previously acquired in Financial Analysis and Reporting. You have learned that financial information can take a huge variety of presentation forms and need to be read with expertise eyes in order to interpret it and take appropriate decisions. Some topics may not be so easy to understand and are time consuming for companies when certain situations arise. We will deepen some of these issues, always from an accounting perspective, in a way that should allow you to ask proper questions to your teams and external collaborators, and to review in a critical way the financial information you are provided with.

The Key Topics in Financial Accounting (KTFA) course focuses on financial statements as the main information system provided by companies that allows user decision making. The course is based on International Financial Reporting Standards (IFRS) and introduces most recent developments in the accounting principles and their main reporting implications. In addition, this course provides an integrated approach to financial accounting that will increase your ability to analyze and interpret financial information coming from alternative sources (e.g., financial statements, footnote disclosure, non-financial information etc.). Finally, the course introduces further topics in accounting such as voluntary disclosure and new information channels.

The learning objectives of the course are the following:

- Have a good understanding of the main accounting issues related to the implementation of International Financial Reporting Standards (IFRS);
- Be familiar with the main principles that govern the preparation and presentation of financial statements;
- Understand how principles and accounting policy choices may affect the financial statements and reflect the underlying economic of a company;
- Learn how to integrate different accounting information in order to provide solutions to accounting and financial reporting issues;
- Appraise corporate disclosure policies and identify situations in which managers may be biasing their reporting and communication.

1. IFRS Adoption around the world, the Conceptual Framework and the role of Regulators

2. Accounting for Intangible Assets according to IFRS

3. Accounting for investments: Business Combinations and Consolidation

4. Accounting for Tangible Assets according to IFRS

5. Financial Instruments

6. Operating Segments

7. Accounting Quality: Managerial Incentives and Earnings Management

8. Voluntary Disclosure: Earnings Forecasts and the benchmark beating game

9. Other current topics in financial accounting

The course combines theoretical lectures with examples, cases and academic research outputs to help students deepen their understanding of the core concepts in financial accounting. Lectures will be delivered by the Professor and by experts in different areas.
Participants will work on examples and cases that will allow them to integrate concepts and standards in order to understand the financial implications, and provide solutions to financial reporting issues. In addition, participants will learn from experts/researchers how companies deal with the most relevant and complex topics derived from accounting policies and corporate governance.

The primary reference material for this course is constituted by the International Financial Reporting Standards (IFRS) official pronouncements. Synopsis and updated principles text will be provided to students in electronic format. The course will also draw from academic research articles, extracts of which will be provided via the Moodle platform.

Additional material may be supplied during the course for participants to extend and deepen course concepts and their application.

E-books:
Wiley IFRS 2015: Interpretation and Application of International Financial Reporting Standards
PKF International Ltd, 2015 | Wiley

International Financial Reporting Standards
IFRS Foundation
Official Pronouncements

Financial Statement Analysis and Security Valuation. By Stephen H. Penman (Columbia University)
McGraw-Hill Education; 5th Edition (2013)


Additional bibliography:
Consolidated Financial Statements: a step-by-step approach. P. Mahony & N. MacLochlainn. 3rd Edition (2017)
International Financial Accounting and Reporting. Connolly, Ciaran (2013). 4th Edition. Chartered Accountants Ireland
Winning investors over. Baruch Lev. Harvard Business School Publishing Corporation (2011)

Group	Teacher	Department
Year 1	Giulia Redigolo	Economía, Finanzas y Contabilidad