Master in European Business (MEB)

Core Courses

Financial Accounting

Semester 1 - 30 hours (4 ECTS credits)

Objectives

Students will develop an understanding of the legal principles and basic techniques of accounting, as well as how their use enables the construction of key financial statements, particularly the profit and loss account and balance sheets. They will become familiar with analytical frameworks to compare and analyse the most important national and international systems of financial reporting.

Structure / Content

• The Roles and Functions of Financial Accounting for the Firm
• The Legal Context for Financial Accounting (National Systems, International Systems like IAS, IFRS, US-GAAP)
• Establishing and Understanding Balance Sheets in the Respective National Systems (Assets, Liabilities, Debit, Credit)
• Establishing and Understanding Profit and Loss Accounts in the Respective National Systems
• Establishing and Understanding the Appendix in the Respective National Systems
• Analyzing Balance Sheets, Profit and Loss Accounts and Appendices in the Respective National Systems (e.g. Ratios)
• Key Issues in Financial Accounting (e.g. Depreciation, Doubtful Debts, Accruals, Prepayments)
• The Influence of IAS, IFRS and US-GAAP on Financial Accounting