Facultatea de Științe Economice și Gestiunea Afacerilor
Str. Teodor Mihali nr. 58-60
Cluj-Napoca, RO-400951
Tel.: 0264-41.86.52-5
Fax: 0264-41.25.70
econ@econ.ubbcluj.ro
www.econ.ubbcluj.ro
DETAILED SYLLABUS
Financial Reporting Standards
1. Information about the study program
1.1 University
1.2 Faculty
1.3 Department
1.4 Field of study
1.5 Program level (bachelor or master)
Babes-Bolyai University
Faculty of Economics and Business Administration
Accounting and Audit
Management
Master
1.6 Study program / Qualification
International Business Management
2. Information about the subject
2.1 Subject title
Financial reporting standards
2.2 Course activities professor
Carmen Bonaci, Associate professor
2.3 Seminar activities professor
Alina Beattrice Vladu, Assistant professor (beattrice.vladu@econ.ubbcluj.ro)
2.4 Year of study
2 2.5 Semester
II 2.6 Type of assessment C
2.7 Subject regime
Option
al
3. Total estimated time (teaching hours per semester)
3.1 Number of hours per week
3 out of which: 3.2 course
2
3.3 seminar/laboratory
3.4 Total number of hours in the
42 out of which: 3.5 course
28
3.6 seminar/laboratory
curriculum
Time distribution
Study based on textbook, course support, references and notes
Additional documentation in the library, through specialized databases and field activities
Preparing seminars/laboratories, essays, portfolios and reports
Tutoring
Assessment (examinations)
Others activities ...................................
3.7 Total hours for individual study
108
3.8 Total hours per semester
150
3.9 Number of credits
6
1
14
Hours
52
18
32
4
2
4. Preconditions (if necessary)
4.1 Curriculum
4.2 Skills
The course requires knowledge of basic elements, provided by the courses from previous
years to Bachelor level from various fields such as: accounting, management and
business ethics.
Not applicable.
5. Conditions (if necessary)
1
NOTE: This document represents an informal translation performed by the faculty.
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•
5.1. For course
development
5.2. For seminar /
laboratory development
•
•
•
•
•
When attending the courses the students and seminars the students are required to
switch off the mobile phones or use the silent mode.
During courses the students are required to have a proactive attitude towards the tasks
presented by the professor.
The students are encouraged to attend classes.
Video projector.
The students are encouraged to attend the seminar sessions.
At the beginning of the seminar session, students must submit at the request of the
professor the homework from previous seminar sessions.
During courses the students are required to have a proactive attitude towards the tasks
presented by the professor.
6. Acquired specific competences
Professional
competences
•
•
•
•
•
Transversal
competences
•
•
•
•
•
Thorough understanding of concepts, principles and methods of the study area;
Ability to work properly with concepts, principles, methods, specific language in different
contexts of the business community and solve theoretical and practical exercises,
Implementation of the concepts, principles, methods and specific language in different contexts
for increasing the understanding of the business environment via specific case-studies solving
from both accounting and auditing area,
Understanding the evaluation methods and techniques with the goal of shaping the professional
judgment,
Adequate evaluation of the methods and techniques which allow constructive solutions
substantiation useful for decision-making purposes;
Develop specific reports of the study area,
International reporting.
Ability to solve complex professional tasks in nonlinear media under conditions of autonomy and
professional independence;
Ownership of different roles in the work of professional bodies and companies;
Acquiring the capacity of self-assessment of their level professional skills and identify real
opportunities that can generate added value for their professional development.
7. Subject objectives (arising from the acquired specific competences)
7.1 Subject’s general objective
7.2 Specific objectives
Deepening understanding of the role of international accounting regulatory
bodies and their influence on the development and implementation of
international standards of accounting and financial reporting and detailed
analysis of the impact of applying these rules on financial position and
performance of the reporting entities.
 Presentation of IASB-International Accounting Standards Board,
 Discussing its objectives and directions of international regulation of
accounting and financial reporting;
 Shaping a proper understanding and application of the professional
judgment via International Financial Reporting Standards (IFRS and
IFRS-reviewed);
 Acquiring the capacity of reports development or/and case studies
solving based on the application of IFRS.
8. Contents
Teaching
Observations
methods
Accounting as a source of information (Conceptual approaches of financial Interactive, using
reporting; categories of users of accounting information, the International the projector,
Accounting Standards - a global approach, the classification of national discussion of
2 courses
accounting systems, disclosing the components of financial statements, the course topics and
inherent limitations of accounting information, accounting information utility establish the
decision making).
keywords,
8.1 Course
2
NOTE: This document represents an informal translation performed by the faculty.
The source of accounting information (accounting principles underlying the providing
recording of accounting information; double entry approach, the components of examples, output
the financial statements of recognition and derecognition determinable of useful practical 1 course
characteristics patrimonial elements; interrelatedness of balance sheet and profit application for the
and loss).
following
Adjustments, bookkeeping errors and estimates (utility of accounting courses,
adjustments, tracing and error handling in accounting, accounting estimates: presentation of
2 courses
between utility and informational risk, discussions on operational cash flow current
application on the
versus profit).
Forecasting and analysis of accounting information utility (in the arena of slides and
financial statements forecasting: balance sheet, income statement, cash flow, the comments.
2 courses
forecasting role in decision-making process).
The emergence and development of international financial reporting standards
(conceptual framework approach, problems of adoption for the first time
1 course
accounting referential IAS / IFRS, differences in reporting, reconciliations and
additional financial statements).
Specific requirements of International Financial Reporting Standards (Operations
2 courses
related to share-based payments, business combinations, financial reporting of
insurance contracts, discontinued operations and business segments, assets held
for sale, operation and evaluation of mineral resources).
Contemporary challenges in the arena of financial reporting: from economic
2 courses
reality to accounting information (full reporting issues, the integrated
performance management, report harmonization - international accounting
convergence, the position and how to adapt accounting referential IAS / IFRS in
the EU, including Romania, the need for transparency of accounting
information).
Creative accounting in financial reporting arena (Motivations of use of creative
2 courses
accounting, creative accounting techniques, methods of detection techniques for
handling accounting, accounting consequences creative, creative accounting: an
ongoing challenge accounting regulatory bodies).
References:
1)
Alexander D., Archer S., International Accounting / Financial Reporting Standards Guide, Wolters
Kluwer Business, 2013
2)
Bonaci C.G., Mustata R.V., Matiş D., Accounting standard setting in the international arena:
update on the convergence project, Analele Universităţii din Oradea, TOM XXI, 2012, p. 866 – 872
3)
Bonham M., Curtis M., Davies M., Dekker P., Denton T., Moore R., Richards H., Wilkinson-Riddle G.,
Williams M., Wilson A., International GAAP 2008, Ernst & Young, John Wiley & Sons, 2008
4)
Elliot B., Elliot J., Financial Accounting and Reporting, 9th Edition, Prentice Hall, London, 2008
5)
Epstein B.J., Nach R., Bragg S.M., Interpretation and Application of Generally Accepted Accounting
Principles (GAAP 2008), John Wiley & Sons, New Jersey, 2008
6)
Ernst & Young, International GAAP 2013: Generally Accepted Accounting Principles under
International Financial Reporting Standards, 2013
7)
Horngren, C., Sundem, L., Elliott, J., Philbrick, C., Introduction to Financial Accounting, 10th
Edition, Prentice Hall, 2011
8)
Monger, R.F., Financial Accounting: Global Approach, 10th Edition, John Wiley & Sons, 2010
9) Nobes C., Parker R.B., Comparative International Accounting, 12th Edition, Prentice Hall, 2012
10) Vladu, B., What Lies Beneath: Fairness or Creative Accounting?, Lambert Academic Publishing,
2014
11) Walton P., Haller A., Raffournier B., International Accounting, Second Edition, Thomson Learning,
2003
Teaching
8.2 Seminar/laboratory
Observations
methods
Accounting as a source of information
Use the case
2 courses
study book which
Adjustments, bookkeeping errors and estimates
contents resolved 2 courses
and unresolved 2 courses
Forecasting and analysis of accounting information utility
case studies;
The emergence and development of international financial reporting standards resolve case
2 courses
studies to
Specific requirements of International Financial Reporting Standards
4 courses
3
NOTE: This document represents an informal translation performed by the faculty.
Creative accounting in financial reporting arena
seminar,
2 courses
comments,
independent or
team
requirements for
solving.
References:
1)
Alexander D., Archer S., International Accounting / Financial Reporting Standards
Guide, Wolters Kluwer Business, 2013
2)
Bonaci C.G., Mustata R.V., Matiş D., Accounting standard setting in the
international arena: update on the convergence project, Analele Universităţii din
Oradea, TOM XXI, 2012, p. 866 – 872
3)
Bonham M., Curtis M., Davies M., Dekker P., Denton T., Moore R., Richards H.,
Wilkinson-Riddle G., Williams M., Wilson A., International GAAP 2008, Ernst & Young,
John Wiley & Sons, 2008
4)
Elliot B., Elliot J., Financial Accounting and Reporting, 9th Edition, Prentice Hall,
London, 2008
5)
Epstein B.J., Nach R., Bragg S.M., Interpretation and Application of Generally Accepted
Accounting Principles (GAAP 2008), John Wiley & Sons, New Jersey, 2008
6)
Ernst & Young, International GAAP 2013: Generally Accepted Accounting
Principles under International Financial Reporting Standards, 2013
7)
Horngren, C., Sundem, L., Elliott, J., Philbrick, C., Introduction to Financial
Accounting, 10th Edition, Prentice Hall, 2011
8)
Monger, R.F., Financial Accounting: Global Approach, 10th Edition, John Wiley &
Sons, 2010
9) Nobes C., Parker R.B., Comparative International Accounting, 12th Edition,
Prentice Hall, 2012
10) Vladu, B., What Lies Beneath: Fairness or Creative Accounting?, Lambert
Academic Publishing, 2014
11) Walton P., Haller A., Raffournier B., International Accounting, Second Edition,
Thomson Learning, 2003
9. Corroboration / validation of the subject’s content in relation to the expectations coming from
representatives of the epistemic community, of the professional associations and of the representative
employers in the program’s field.
 The course represents the accumulation of knowledge in the field of standards developed by IASB and from The
Body of Experts and Licensed Accountants of Romania (CECCAR). Also, through its technical content,
practical application (study cases) involved and the students’ assessment, contribute to professional and
transversal competencies assessed on the labor market by the employers.
10. Assessment (examination)
Type of activity
10.1 Assessment criteria
10.2 Assessment methods
10.4 Course
Applying the techniques and procedures
specific to financial accounting.
Understanding and interpreting the main
accounting regulations.
Assessing the professional judgment when
solving the practical tasks.
Final exam in the ordinary
session.
The final exam comprises
multiple choice quiz.
Any fraud or attempt of fraud is
severe punished, and can lead to
the expelled cases.
10.5
Understanding the specific issues dealt with Case studies solving.
Seminar/laboratory during the course and seminar.
Ability to support and evaluate their
arguments or held by others.
10.6 Minimum performance standard
10.3 Weight in
the final grade
0,7
0,3
4
NOTE: This document represents an informal translation performed by the faculty.
•
•
•
•
It is necessary to obtain a minimum grade of 5 (five) in order to pass this subject;
The grades being granted are between 1 (one) and 10 (ten);
Students must approach each element (question, problem) within the exam sheet;
The exam is written and takes approximately 120 minutes;
Date of filling
23.01.2015
Signature of the course professor
………
Date of approval by the department
28.01.2015
Signature of the seminar professor
………
Head of department’s signature
Adriana Tiron-Tudor, Full Professor
5
NOTE: This document represents an informal translation performed by the faculty.