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A250A0200 International Financial Reporting Standards and Consolidated Financial Statements, 6 cr 
Code A250A0200  Validity 01.08.2011 -
Name International Financial Reporting Standards and Consolidated Financial Statements  Abbreviation International F 
Credits6 cr   
TypeBasic studies  
ClassCourse   
  Grading scaleStudy modules 0-5,P/F 
  Eligibility for post-graduate studiesno
    Allowed to study several timesno
Organisation LUT School of Business and Management 

Teachers
Name
Timo Leivo 

Description by Study Guide
Note 

Location: Lappeenranta

 
Year 

B.Sc. (Econ. & Bus. Adm.) 3

 
Period 

4

 
Teaching Language 

Finnish

 
Teacher(s) in Charge 

University lecturer, D.Sc. (Econ. and Bus. Adm.) Timo Leivo

 
Aims 

The course aims to explain the obligation to prepare consolidates financial statement as well as the content, objective and special issues of consolidated financial statement. The course gives students basic skills to prepare and understand consolidated financial statements. At the completion of this course students should know and understand
- concept of concern
- the regulation that affect to consolidate financial statements
- know Intercompany transactions
- elimination of internal ownership and separation of minority shares
- consolidation of the foreign subsidiary, associated company and joint enterprise
- consolidated cash flow statements
- the history of the IFRS-standards
- the framework for the preparation and presentation of financial statements
- the basic IFRS-standards and be able to read IFRS
- financial statements and analyze them
- the main differences between IFRS, Finnish GAAP and US GAAP

 
Contents 

Concept of concern. Introduction to the regulation that affect to consolidate financial statements. Intercompany transactions. Elimination of internal ownership and separation of minority shares. Consolidation of the foreign subsidiary, associated company and joint enterprise. Consolidated cash flow statement. History of the IFRS-standards. Framework for the preparation and presentation of financial statements. IFRS-standards. Differences between IFRS, Finnish GAAP and US GAAP.

 
Teaching Methods 

Lectures 28 h, preparation for lectures 50 h, preparation for exam 82 h, exam 3 h. 4th period. Total workload 160 h.  Moodle is used in this course.

 
Examination in Examination schedule (Yes/No) 

Yes

 
Examination in Moodle (Yes/No) 

No

 
Examination in Exam (Yes/No) 

No

 
Assessment scale and assessment methods 

Grade 0-5, evaluation 0-100 points. Exam 100%.

 
Course Materials 

Literature: - Englund T., Prepula E., Riistama V. ja Tuokko Y. : Konsernitilinpäätös – kirjanpitolain mukaan. 3. uudistettu painos. WSOY, 2005 ISBN 951-0-30133-7, - Haaramo V.: IFRS-raportointi (internet: fokus.talentum.fi). Other study materials: - Handouts.

 
Prerequisites 

A250A0250 Kirjanpidon peruskurssi, A250A0600 Rahoituksen perusteet and A250A1050 Yritysrahoitus (recommended) or A250A1051 Yritysrahoituksen perusteet.

 
Places for exchange-students? (Yes, number/No) 

No

 
Places for Open University Students?(Yes, number/No) 

max 5

 


Current and upcoming courses
Functions Name Type cr Teacher Timing
  International Financial Reporting Standards and Consolidated Financial Statements  COURSE  Timo Leivo 
02.03.20 -17.04.20 -

Upcoming exams
Functions Name Type cr Teacher Timing
Register International Financial Reporting Standards and Consolidated Financial Statements  EXAM  Timo Leivo 
29.04.20wed 08.30-11.30