Course prerequisite

Validation of the modules in semester 1

Course overview

A theoretical and practical presentation of the three main international accounting frameworks: IFRS, US GAAP and Swiss GAAP.

Learning objectives

At the end of this course, students should be able to:

·       Understand the specificities of international accounting frameworks, when compared to local statutory accounting (Swiss Law – “Code des Obligations”)

·       Understand the historical and theoretical issues underlying international accounting and the emergence of international standards

·       Understand the different phases of the global project for international accounting convergence

·       Identify and apply the accounting principles inherent to international accounting

·       Know the accounting treatment for and the financial reporting of the main components of the financial statements (assets, liabilities, equity, income, and expenses) in compliance with an international accounting framework (primarily IFRS), and how it differs from the Swiss Law’s accounting guidance

·       Know the main differences between the three major international accounting frameworks (US GAAP, IFRS, Swiss GAAP)

Course evaluation

Midterm: to be confirmed

Final exam (individual) in week 16: 100% (grading structure according to your course)

 

Course schedule 

Topics	Readings, preparation
Introduction: a long journey to global GAAP	See Cyberlearn
Accounting principles vs. accounting rules	See Cyberlearn
Fair value	See Cyberlearn
Inventory	See Cyberlearn
Property, Plant and Equipment (PPE)	See Cyberlearn
Intangible assets	See Cyberlearn
Impairment	See Cyberlearn
Investments in subsidiaries and associates	See Cyberlearn
Financial Instruments – assets	See Cyberlearn
Financial Instruments – liabilities	See Cyberlearn
Leases	See Cyberlearn
Share-based Payment	See Cyberlearn
Concepts of financial and non-financial analysis	See Cyberlearn

Course Preparation

It is your responsibility to ensure that you have all the required documents for your work. Most of the documents used for this course will be available on Cyberlearn the week before each session.  

References

No specific reference is required. The following reference is permanently available at the Library and may be used extensively throughout the course: Intermediate Accounting (2013) Donald E. Kieso, Jerry, J. Weygandt, Terry D. Warfield. Additional useful references for the course are also available at the Library under the Course seminar.