The academic discipline "International Standards of Financial Reporting" is a set of principles, methods, forms, techniques of accounting and financial reporting that arise in the implementation of financial accounting tasks. IFRS is developed and adopted by the International Financial Reporting Standards Board.
The purpose of studying the academic discipline is for the students to acquire the necessary theoretical knowledge of the regulatory provisions and content of the main International Financial Reporting Standards and their Interpretations, as well as mastering practical skills in applying procedures related to the preparation and submission of financial reports by transnational corporations and securities market participants.
The task (educational goals) of the educational discipline consists in the formation of a complete system of knowledge in students regarding the methodology of accounting and reporting in accordance with international standards. As a result of studying the discipline, applicants must learn the elements of research activity, principles of organization, methods and technologies of accounting and financial reporting, learn to conduct author's research, in particular, in terms of collecting information, theoretical premises and working hypotheses, choosing the methodology and methods of financial reporting analysis in order to make further financial and investment decisions.
The purpose, structure and main requirements of the International Financial Reporting Standards regarding the recognition, assessment, presentation and disclosure of elements of financial statements are the subject of the academic discipline.