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HU Credits:
6
Degree/Cycle:
1st degree (Bachelor)
Responsible Department:
Accounting
Semester:
1st and/or 2nd Semester
Teaching Languages:
Hebrew
Campus:
Mt. Scopus
Course/Module Coordinator:
Shlomi Wiener
Coordinator Office Hours:
Tuesday, 14:00-15:00, By appointment
Teaching Staff:
Yuval Granot
Shlomy Wiener
Course/Module description:
This course broadens the scope for the conceptual framework of financial accounting and the basic approach for the recognition, measurement and presentation of financial statement items such as inventory, fixed assets, investment real estate, financial assets, financial liabilities, contingent liabilities, options and more.
Course/Module aims:
The purpose of the course is to develop the appropriate way according to which companies submit their financial statements. Emphasis will be placed on the overall systemic view of accounting as an information system designed for decision-making and analytical capabilities and mindset required from accountants.
Learning outcomes - On successful completion of this module, students should be able to:
1. Define the basic concepts of financial statement items.
2. Identify the date of recognition of an item in the financial statements.
3. Calculate how to measure items in the financial statements according to IFRS.
4. Register Journal Entry for common accounting events.
5. Present the financial statements in accordance with the requirements of international standards.
Attendance requirements(%):
0
Teaching arrangement and method of instruction:
The course consists of lectures and exercises. In the lectures, the lecturer will discuss issues and specific accounting rules that require understanding and we will develop a proper mindset. Throughout the exercises we will expand the scope of the topics discussed in lectures and we will solve specific problems arising from the exercises given to the students.
Course/Module Content:
1. Development of the Accounting Standards.
2.The conceptual framework.
3. Revenue Recogmition.
4. Time value of money.
5. Presentation of Financial Statements.
6. Property, Plant and Equipment.
7. Impairment in value of assets.
8. Investment Real Estate.
9. Inventories.
10. Equity instruments.
11. Financial Instruments - financial liabilities and financial assets.
12. Accounting Policies, Changes in Accounting Estimates and Errors.
13. Provisions, Contingent Liabilities and Contingent Assets.
14. Events after the Reporting Period.
Required Reading:
1. International Financial Reporting Standards and International Accounting Standards.
2. Periodic Report of "XX"Company (to be given) for the year of the course.
Additional Reading Material:
1. Financial Accounting: Theory and Applications: International Standards Era - IFRS, Gila Benisti, Peles 2007 (Volume I and Volume II: Chapters 13, 15, 16).
2. New Financial Accounting: IFRS 2020, Shlomi Shuv and Yevgeni Ostrovski, 2018 (Volume I: Chapters 2-6, 9, 12; Volume II: Chapters 13-15, 19; Volume III: chapters 24-25; Volume IV: Chapters 35-38).
Grading Scheme :
Additional information:
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