Courses

Corporate Accounting and Financial Products

General

Course Contents

  1. What are the IAS concerning the consolidation of financial statements.
  2. The accounting treatment of markets.
  3. Analysis of mandatory disclosures.
  4. Determining the real value.
  5. Calculation of goodwill.
  6. Calculation of Minority Rights.
  7. Total and Proportional Method of Integration.
  8. Net Position Method.
  9. Settlement of intra-company transactions.
  10. Introduction to Standards 32, 39 and IFRS 7.
  11. Derivative financial products.
  12. Valuation of derivatives.
  13. Accounting adjustment according to IFRS.

Educational Goals

The course is the basic introductory course in the concepts and applications of International Financial Reporting Standards in Consolidations of Financial Statements and the creation of Groups. The course aims to introduce students to the basic concepts of International Accounting Standards and in particular to the group of standards concerning groups and joint ventures of business forms, their application in the presentation of financial results through the mandatory disclosures of their transactions and the participation ordinary persons on the Boards and their distinction in terms of the applied accounting standards as provided for by Greek legislation. It also refers to introductory concepts in proposed methodologies for the application of accounting policies and the interpretation of the different results as they arise from changing policies, so that the student has an overall understanding of the procedures and methodologies followed when setting up groups and joint venture schemes. In this sense, the course is the basis on which the financial result of a group or joint venture is examined, which results from the application of the basic and alternative methods as proposed by the respective accounting standards. Finally, the aim of the course is students’ understanding and ability to prepare consolidated financial statements. In addition, to evaluate the companies’ positions on financial instruments and arrange them in accounting according to IAS/IFRS.

Upon successful completion of the course, the student:

  • Has understood the basic and critical characteristics of Groups, Joint Ventures and Financial Instruments, as provided by the International Accounting Standards, their connection with more general economic and operational objectives and the principles of the business economic cycle.
  • Has knowledge of the tools and techniques of the accounting management of the financial results and operations of business coalitions and how they are used to ensure the successful financial recording of the results.
  • Is able to distinguish the main roles of the proposed methods, basic and alternative, in a real environment or in a case study and to assess the role of the interested parties in dealing with positive or negative economic developments.
  • Uses the methodologies of the accounting principles to determine key elements of the financial result and cases of manipulation of the results, in particular when there are intra-group transactions.
  • Analyzes and calculates the main elements of diversity of accounting models (Anglo-Saxon – Franco-German).
  • Collaborate with his fellow students in the application of International Standards to create and present in a case study the way of consolidating financial statements and their valuation which depends on the use of different accounting policies, which concern both Greek and International Financial Reporting Standards.
  • Develop the necessary knowledge acquisition skills in matters of accounting management of the financial results of business consortia and groups for further studies at postgraduate level.

General Skills

  • Independent work.
  • Team work.
  • Decision making.
  • Production of free, creative and inductive thinking.

Teaching Methods

  • In the classroom, face to face.

Use of ICT means

  1. Basic software (windows, word, power point, the web, etc.).
  2. Support of learning process through the electronic platform / e-class.

Teaching Organization

ActivitySemester workload
Lectures26
Practice works13
Assignment (Essay writing)20
Independent Study89
Total148

Students Evaluation

Written final exams (60%) that may include:

  • Judgemental questions.
  • Short answer questions.
  • Application exercises.
  • True/false and multiple choice questions.
  • Composite theoratical questions.

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

  1. Αθιανός Σ., ΛΟΓΙΣΤΙΚΗ ΟΜΙΛΩΝ ΚΑΙ ΧΡΗΜΑΤΟΟΙΚΟΝΟΜΙΚΩΝ ΠΡΟΙΟΝΤΩΝ ΣΥΜΦΩΝΑ ΜΕ ΤΑ ΔΛΠ/ΔΠΧΑ, Εκδ. ΧΑΡΙΣ ΜΕΠΕ 2015.
  2. Βλάχος Χ., Λουκάς Λ., Διεθνή Λογιστικά Πρότυπα 2009, Εκδ. Παπαζήση – Globaltrainin, τόμος Β, 2008.

Related Research Journals

  1. Journal of Accounting Review.
  2. American Journal of Applied Sciences.