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Establishment
Language of instruction
French
Teaching content
ACCOUNTING / AUDIT / CONTROL
Training officer(s)
M.DESROUSSEAUX
Stakeholder(s)
Mohélie Desrousseaux
Présentation
Prerequisite
This course requires a knowledge of general accounting (accountability I and II) as well as corporate finance (financial calculation: finance I)
Goal
The IAS/IFRS frame of reference and the international financial information norms created an evolution in accounting towards a more economic approach and a desire of better company performance evaluations. The primacy of economic reality from a juridic point of view, the evaluation at the right value and the obligation of very complete information in the appendix are the major sources of divergence with the French accounting frame of reference. From the 01/01/2005, the European quoted companies as well as their subsidiaries must publish their accounts in this frame of reference; the other companies are involved as well in this process by the convergence of the French PCG towards the IFRS that began in 1999 and which has since accelerated. The aim of this course is to initiate the students into this international frame of reference. It is targeted at all the students who want to understand the functioning, the logic and the coherence of the IFRS and who want to follow a career in the world of figures for which this frame of reference is now incontrovertible.
At the end of the course, the student should be able to:
- understand the "philosophy" of the IAS/IFRS frame of reference and master the main divergences that exist between this frame of reference and the French frame of reference
- establish the basics of synthesis documents (balance sheets, profit and loss accounts and appendixes) in IAS/IFRS
- compare the synthesis documents in the two frames of reference (PCG // IAS-IFRS).
At the end of the course, the student should be able to:
- understand the "philosophy" of the IAS/IFRS frame of reference and master the main divergences that exist between this frame of reference and the French frame of reference
- establish the basics of synthesis documents (balance sheets, profit and loss accounts and appendixes) in IAS/IFRS
- compare the synthesis documents in the two frames of reference (PCG // IAS-IFRS).
Presentation
First part - The basis of international accounting harmonisation :
1. Harmonisation processes and stakes.
2. Calendar and process of IAS/IFRS norms' adoption in Europe.
3. Roles and functioning of the IASB (International Accounting Standard Board).
Second part - The conceptual framework of the IAS/IFRS :
1. Application scope and basic hypothesis.
2. Objectives, content and characteristics of financial statements.
3. Accounting and evaluation of certain elements in financial statements.
4. Comparison between the French frame of reference (PCG) and the American one (US GAAP)
Third part - Study of the major accounting records and evaluation norms :
1. Accounting of the assets (IAS norms 16, 17, 36, 38, 40) : tangible and intangible assets, lease contracts, asset depreciation…
2. Accounting of the assets (IAS 19 and 37) : staff advantages, advance payments, potential assets and liabilities.
3. Representation of the activity (production/sales cycle): stocks (IAS 2), construction contracts (IAS 11), ordinary activities' results (IAS 18)…
4. Financial tools : information to give and presentations (IAS 32), accounting and evaluation (IAS 39).
5. Norms about special situations : public subsidies (IAS 20), cost of the loans (IAS 23), payment based on shares 5IFRS 2)…
6. Consolidation (IAS 27, 28, 31 and IFRS 3).
Fourth part - The accounting and financial information :
1. Presentation of financial statements : content (IAS 1), sector information (IAS 14), intermediary statements (IAS 34), result per share (IAS 33), treasury flow tables (IAS 7), accounting methods and changes (IAS 8), first implementation of the norms (IFRS 1)…
2. Financial communication : frame of reference stakes for financial analysis and corporate governance.
1. Harmonisation processes and stakes.
2. Calendar and process of IAS/IFRS norms' adoption in Europe.
3. Roles and functioning of the IASB (International Accounting Standard Board).
Second part - The conceptual framework of the IAS/IFRS :
1. Application scope and basic hypothesis.
2. Objectives, content and characteristics of financial statements.
3. Accounting and evaluation of certain elements in financial statements.
4. Comparison between the French frame of reference (PCG) and the American one (US GAAP)
Third part - Study of the major accounting records and evaluation norms :
1. Accounting of the assets (IAS norms 16, 17, 36, 38, 40) : tangible and intangible assets, lease contracts, asset depreciation…
2. Accounting of the assets (IAS 19 and 37) : staff advantages, advance payments, potential assets and liabilities.
3. Representation of the activity (production/sales cycle): stocks (IAS 2), construction contracts (IAS 11), ordinary activities' results (IAS 18)…
4. Financial tools : information to give and presentations (IAS 32), accounting and evaluation (IAS 39).
5. Norms about special situations : public subsidies (IAS 20), cost of the loans (IAS 23), payment based on shares 5IFRS 2)…
6. Consolidation (IAS 27, 28, 31 and IFRS 3).
Fourth part - The accounting and financial information :
1. Presentation of financial statements : content (IAS 1), sector information (IAS 14), intermediary statements (IAS 34), result per share (IAS 33), treasury flow tables (IAS 7), accounting methods and changes (IAS 8), first implementation of the norms (IFRS 1)…
2. Financial communication : frame of reference stakes for financial analysis and corporate governance.
Modalités
Forms of instruction
The teaching sessions alternate lectures where the theoretical dimension predominates (presentation of concepts and methods) and tutorials (implementation of tools and methods using exercises and/or cases that the students must prepare in advance). The 18 hours of the session are given using an intensive format during one week.
Organization
| Type | Amount of time | Comment | |
|---|---|---|---|
| Face to face | |||
| Interactive class | 16,00 | ||
| Independent study | |||
| Estimated personal workload | 10,00 | ||
| Group Project | 9,00 | Travail en équipe sur des états financiers en IFRS à remettre sur 3 séances. | |
| Independent work | |||
| Reference manual 's readings | 6,00 | Lecture d'articles préselectionnés avant chaque cours. | |
| Overall student workload | 41,00 | ||
Evaluation
The learning will be assessed after a final examination.
| Control type | Duration | Amount | Weighting |
|---|---|---|---|
| Final Exam | |||
| Written exam | 2,00 | 1 | 40,00 |
| Continuous assessment | |||
| Participation | 0,00 | 0 | 10,00 |
| QCM | 0,20 | 3 | 20,00 |
| Others | |||
| Group Project | 0,00 | 3 | 30,00 |
| TOTAL | 100,00 | ||
Ressources
Bibliography
Pratique des normes IFRS - 6e éd. DUNOD- Référentiel et guide d'application - Robert Obert