Accounting Standardization

This course unit of Accounting Standardization aims to teach advanced level financial accounting knowledge, so prior knowledge of medium level financial accounting is required.

The course objectives aims to provide students with a set of theoretical and practical knowledge. In pursuit of these objectives, the classes have an expository aspect, where the theoretical foundations are taught, and a practical aspect, where students solve practical cases.

These two aspects allow the students for a consolidation and deepening of their knowledge of the main accounting standards relating to the assets and liabilities of the financial statements.

This curricular unit aims to provide the fundamental knowledge to understand the international accounting standardization and the Portuguese Accounting Standardization System (SNC).

European and international accounting harmonization (IASB) are both exposed in an evolutionary perspective that allows us to understand the current standardization model and provide the instruments that allow us to monitor future developments.

In addition to the IASB’s conceptual framework, the main accounting standards applied in the recognition and measurement of assets and liabilities will be studied.

After studying the “accounting standardization” course, students should be able to:

a) Understand the role played by the IASB in international accounting standardization and its importance for Portuguese and European standardization;

b) Identify the main international standardization bodies, their objectives and their process for preparing and implementing accounting standards.

c) Understand the objectives of the conceptual framework and identify the main objectives underlying the preparation and presentation of the financial statements;

d) Identify and understand the main accounting standards relating to the assets and liabilities of the financial statements; and

e) Identify and distinguish the main theoretical approaches of modern accounting research

1. Conceptual framework

1.1. International accounting standardization

1.2. The IASB’s conceptual framework

2. Assets and liabilities elements

2.1. Tangible Fixed Assets

2.2. Intangible Assets

2.3. Investment properties

2.4. Non-current assets held for sale

2.5. Impairment of Assets

2.6. Provisions, Contingent Liabilities and Contingent Assets

2.7. Borrowing Costs

2.8. Revenues

2.9. Leases

2.10. Employee Benefits

2.11 Financial instruments

2.12 Exploration and Evaluation of Mineral Resources

3. Theoretical framework of research in accounting

NAO

Fundamental bibliography

Gomes, João e Jorge Pires (2015). SNC – Sistema de Normalização Contabilística, Teoria e Prática. 5ª Edição. Ed. Vida Económica.
Kieso, Donald E., Jerry J. Weygandt e Terry D. Warfield (2020): Intermediate Accounting IFRS, 4th Edition, Wiley.
Ruth Picker, Kerry Clark, John Dunn, David Kolitz, Gilad Livne, Janice Loftus, Leo van der Tas (2019): Applying International Financial Reporting Standards, 4rd Edition Wiley.

Complementary Bibliography
Alexander, D., Jorissen, A., Hoogendoorn, M., Mourik, C. & Kirwan, C. (2020), International financial reporting & analysis, Cengage.
Almeida, José e Bruno Machado de Almeida. (2016). Teorias da Contabilidade: Construção e demarcação Epistemológica. Lisboa: Escolar Editora.
Chiara, Mio (2016). Integrated Reporting. A New Accounting Disclosure. Palgrave Macmillan.
Flower, John; Gabi Ebbers (2002): Global Financial Reporting. Palgrave.
Gonçalves, Cristina; Santos, Dolores; Rodrigo, José; Fernandes, Sant’Ana (2016): Contabilidade Financeira Explicada. 2.ª Ed. Vida Económica.
Kieso, Donald E., Jerry J. Weygandt e Terry D. Warfield (2021): Intermediate Accounting, 18th Edition, Wiley.
NOBES, Christopher; Robert Parker (2020): Comparative International Accounting. 14ª Ed. Prentice Hall – International, Londres.