This class exists in these courses :
• Institut Supérieur d'Expertise et d'Audit (ISEA) - Master 1 Comptabilité Contrôle Audit - S1 - 3 ECTS

Prerequisites

None

Learning outcomes

The aim of the course is to facilitate and stimulate an effective English communication skills of the students on all the main aspects regarding the financial reporting. At the end of the course the student will be able to:

• read and understand the financial aspects of a company;
• discuss and comments them with colleagues and practitioners;
• describe how the rules of corporate financial reporting effect the application of standards;
• identify and evaluate financial statements;
• comprehend the theory and practices of corporate financial reporting;

use financial reporting theory and practices to analyse the performance of a company.

Course description

This course is based on the analysis of financial statements

Topics covered:

• introduction to Financial Reporting: financial reporting as the provision of decision-useful information to users—who the users are, what needs they have, and how the financial information is used;
• qualitative characteristics of financial information;
• financial accounting as the preparation of the financial reports;
• underpinning concepts—business entity, historic cost, accruals, and prudence;
• accounting systems, including double-entry bookkeeping and the trial balance;
• accounting for accruals and prepayments, depreciation, and bad and doubtful debts.
• the preparation of the main financial statements—the statement of financial position, the income statement, and, for companies, the statement of changes in equity—from trial balance and including adjustments for accruals and prepayments, depreciation, and bad and doubtful debts;
• the IASB—its development, authority, and accountability;

the alternative methods for presenting the income statement—analysing expenses by nature or function

Class type

Class structure

The methodology of the course is based not only on the theory sessions, but in parallel in various activities such as:

• exercises;
• classroom presentations;
• teamwork;
• oral participation.

Teaching methods

Assessment

Contrôle continu : coeff. 1

Recommended reading

• Jennifer Maynard, Finanacial accounting, reporting and analysis, Oxford, University Press
  

  • Chapter 1 Financial reporting and accounting;
  • Chapter 2 The financial reporting system
  • Chapter 4 Published financial statements of companies 125
  • Chapter 5 Interpretation of financial statements