Course ID: | ACCT 7690. 3 hours. |
Course Title: | International Financial Reporting Standards |
Course Description: | A financial accounting course which explores the accounting
treatments for various topics using International Financial
Reporting Standards (IFRS), exploring accounting topics at both
the conceptual and practical levels. Emphasis is placed on
comparison to U.S. GAAP for learning and scrutinizing the
relevance of information provided by accounting standards. |
Oasis Title: | Intl Fin Reporting Standards |
Prerequisite: | ACCT 5020/7020 or permission of department |
Semester Course Offered: | Offered fall semester every year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | The general objective of this course is to expose students to
the financial accounting issues faced by multinational firms. By
the end the course, the student should be able to:
• Describe the international efforts to converge financial
reporting standards, with emphasis on the convergence of IFRS
and U.S. GAAP
• Account for various transactions using International Financial
Reporting Standards (IFRS)
• Understand major differences between IFRS and U.S. GAAP
• Appreciate the complexities of creating accounting standards
for recognition, measurement, disclosure, and at the conceptual
level
• Evaluate and apply judgment to the relevance of various
accounting treatments for a selected issue
• Understand approaches for accounting for the effects of
inflation on financial statements |
Topical Outline: | 1. Course introduction
2. Convergence of global accounting standards
3. The conceptual framework
4. Accounting for assets using IFRS
5. Accounting for liabilities using IFRS
6. Other IFRS accounting issues which may include first-time
adoption of IFRS, revenue recognition, leasing, or financial
instruments
7. Inflation accounting |
Honor Code Reference: | This course upholds the principles of the UGA Student Honor
Code: "I will be academically honest in all of my academic work
and will not tolerate academic dishonesty of others." A Culture
of Honesty, the University's policy and procedures for handling
cases of suspected dishonesty, can be found at www.uga.edu/ovpi.
Any violations of this policy including, but not limited to,
cheating or plagiarism, will be reported to the appropriate
university authority. |