ACFN345/ACFN507 International Financial Reporting Standards

The aim of this course is to interpret, summarize, and analyze the International Financial Reporting Standards. This course will provide basic knowledge regarding the international financial reporting standards. Each standard and the concepts within the standards will be analyzed in a detailed way. Students will have the ability to analyze the uniformity of reporting from the international perspectives. Which is describing the organizational structure of the key in setting IFRSs, describe the purpose of a conceptual framework-who uses it and why, explain the qualitative characteristics that make information in financial statement useful, discuss the going concern assumption underlying the preparation of financial statements, define the basic elements in financial statement-assets, liabilities, equity, income, and expenses, distinguish between alternative bases for measuring the element of financial statements, and outline concepts of capital