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Lecturer(s)
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Hinke Jana, Doc. Ing. Ph.D.
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Černá Marie, Ing. Ph.D.
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Course content
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- Introduction to accounting systems - Harmonisation and standardization of accounting, the definition and meaning of IFRS for SMEs - Interpretation of the conceptual framework - Part I, - Interpretation of the conceptual framework - II. part of the concept and basic principles of IFRS for SMEs - Fixed assets and its depiction in accounting, the concept of fixed assets in accordance with IFRS for SME - Inventories treatment for inventories under IFRS for SME - Cash, cash equivalents, receivables, financial assets, investment - a concept according to IAS / IFRS and IFRS for SME - Equity, the concept of equity according to IFRS for SME - Liabilities, provisions, contingent liabilities and contingent assets, the concept according to IAS / IFRS and IFRS for SME - Income and expenses in the concept of IAS / IFRS and IFRS for SME - Financial statements according to IAS / IFRS, the financial statements in accordance with IFRS for SMEs, interim financial reporting - Disclosure of related parties, changes in accounting estimates, fundamental errors and changes in accounting policy, the events after reporting date, the solutions adopted IFRS for SME - The consolidated financial statements according to IAS / IFRS and IFRS for SMEs.
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Learning activities and teaching methods
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- Contact hours
- 39 hours per semester
- Preparation for an examination (30-60)
- 40 hours per semester
- Team project (50/number of students)
- 25 hours per semester
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| prerequisite |
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| Knowledge |
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| For successful graduation of the course is important to know the financial reporting in accordance with the laws of the Czech Republic, ie. basic accounting principles and techniques, as well as valuation, accounting and reporting of the main components of statements and compiling statements themselves. |
| learning outcomes |
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| Student is able to: - Define the obligation to keep financial reporting under IAS/IFRS and IFRS for SME, - Describe the structure of the IAS/IFRS and IFRS for SME, define the manner of their creation, - Define the issues, which focus on individual standards, respectively - sections, - Formulate approaches and methods of valu,ation, accounting and reporting of financial statement items, - Evaluate the accuracy of valuation, accounting and reporting according to IAS/IFRS, IFRS for SME and U.S. GAAP, - Define the diversity of IAS/IFRS, IFRS for SME from the accounting system maintained in accordance with Czech laws and the accounting system of U.S. GAAP, - Use the acquired knowledge in the accounting and reporting in the business entity, respectively - in preparing the financial statements of the business entity. |
| Skills |
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| Can present data from financial statements prepared according to international accounting systems, is aware of the impact of differences on the results of financial analysis. Can predict the development of the national accounting system, res. degree of harmonization towards international accounting systems. |
| Competences |
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| N/A |
| N/A |
| teaching methods |
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| Knowledge |
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| Practicum |
| Self-study of literature |
| One-to-One tutorial |
| Interactive lecture |
| Skills |
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| Practicum |
| One-to-One tutorial |
| Competences |
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| Interactive lecture |
| One-to-One tutorial |
| Practicum |
| assessment methods |
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| Knowledge |
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| Test |
| Project |
| Skills |
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| Test |
| Project |
| Competences |
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| Test |
| Project |
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Recommended literature
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IASB. IFRS. London, 2021. ISBN 978-1-911629-82-5.
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Joanne M. Flood. Wiley GAAP 2021: Interpretation and Application of Generally Accepted Accounting Principles. London, 2021. ISBN 978-1-119-73618-.
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Mládek, Robert. IFRS and US GAAP : accounting policies and procedures = IFRS a US GAAP : postupy účtování. Vydání první. 2017. ISBN 978-80-7502-194-6.
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Wiley. Interpretation and Application of IFRS Standards 2020. London, 2020. ISBN 978-1-119-69936-1.
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