International Accounting Standards

Previously knowledge of financial accounting, in special the national accounting standards (SNC).  

The development of the syllabus will be carried out, as much as possible, using active methods, which involve the participation of students and the promotion of a theoretical-practical perspective of accounting matters studied. For this, the theoretical exposition of the principles included in the international standards will be combined with examples and/or analysis of small cases with a view to understanding the practical application of these standards, making a constant appeal to the students’ assessments, in order to encourage the critical view. Doing the groups’ work also requires the analysis of real information from the companies and its presentation and discussion in class will actively contribute to the learning process.

Developed summaries and workbooks are available.

Objectives: 

The main objective of the course is to provide adequate knowledge and understanding of the content of the IAS/IFRS and its practical application, allowing, at the same time, to continue the training obtained in the licentiate degree, to respond to the growing demands placed on auditors and to meet the needs of the market in having professionals (auditors) with greater knowledge in accounting matters. Special emphasis is given to the study of differences between IAS/IFRS and national standards.

Learning outcomes: 

Students should acquire the following skills:
1. Understand the structure of the international standards, their objectives, and who should apply them;
2. Know how to properly handle different accounting facts according to IAS/IFRS;
3. Understand the differences between IAS/IFRS and national accounting standards, in order they implement or guide the implementation in an entity that does not yet apply them;
4. Be critical of financial reporting.

I – Introductory and framing aspects

1. International accounting harmonization and the European and national position.
2. Companies required to apply IFRS and SNC.
3. The IAS/IFRS and the standards that integrate the SNC.
4. Financial statements: structure and content (IAS 1 and IAS 7).
5. Accounting policies, changes in estimates and errors (IAS 8).
6. Events after the reporting period (IAS 10).

II – Analysis of the main international standards 

1. IAS 20 – Accounting for Government Grants and Disclosure of Government Assistance
2. IAS 27 – Separate financial statements
3. IAS 38 – Intangible Assets
4. IFRS 3 –Business Combinations
5. IAS 28 – Investments in associates and joint ventures
6. IAS 36 – Impairment of Assets
7. IAS 41 – Agriculture and IAS 16 – TPE
8. IFRS 10 – Consolidated Financial Statements
9. IFRS 11 – Joint arrangements
10. IFRS 16 – Leases
11. IFRS 15 – Revenue from contracts with customers

NAO

Decreto-Lei n.º 158/2009, publicado no Diário da República, 1ª Série, N.º 133, de 13 de julho, com alterações posteriores e republicado pelo Decreto-Lei n.º 98/2015, publicado no Diário da República, 1ª Série, N.º 106, de 2 de junho – aprova e altera o Sistema de Normalização Contabilística.

International Accounting Standards (IAS) / International Financial Reporting Standards (IFRS) adotadas pela União Europeia através do Regulamento (CE) n.º 1126/2008 da Comissão de 3 de novembro de 2008 e posteriores alterações. Versão consolidada em 01/01/2023 no site da CNC.

Lopes, C. et al (2020). Manual de Contabilidade: Teoria e Casos Práticos, 2ª Edição. Forte da Casa: Escolar Editora, .

Lourenço, Isabel (2020). “IFRS versus SNC”, Manual de Formação da OCC.

Massa, Carla (2020). “IFRS 15 – Rédito de contratos com clientes”, Manual de Formação da OROC,

PriceWaterhouseCoopers (2022). Manual of accounting IFRS 2022. London: LexisNexis Butterworths. ISBN: 9780754559184.

Complementary: 

Elliott, B., & Elliott, J. (2019). Financial Accounting and Reporting, 19th edition. England: Pearson Education. ISBN-13: 978-1292255996.

Kieso, D.; Weygandt, J. & Warfield, T. (2020). Intermediate Accounting IFRS 4th Edition. Wiley. ISBN: 978-1119607519