Public Accounting and Financial Reporting According to IPSAS
Course contents:
The purpose of the course is that students will develop a deeper knowledge in advanced accounting and financial reporting, with a particular focus on issues related to the compilation of financial statements in public sector organizations (i.e. state, regions, local governments as well as international organizations). A special focus will be devoted on the adoption of International Public Sector Accounting Standards (IPSAS).
The following topics related to financial accounting and reporting according to IPSAS will be covered:
- Rules, users and approaches to public sector accounting;
- Changes and modernization of the accounting and financial reporting of public organizations based on IPSAS;
- Theories and methods applied in the public sector accounting research;
- International trends and experiences.
After completing the course, students should obtain the following knowledge, skills and general competencies.
Knowledge
- broaden knowledge on various theoretical and methodological approaches in public sector accounting;
- be able to identify and differentiate between various methods and data collection techniques used in public accounting research;
- to explain similarities and differences in financial reporting used in the public sector;
- to critically evaluate practice divergences in IPSASs’ implementation;
- to analyse how public sector organisations compile financial report data under IPSAS;
- to understand how theories and methods can be used for writing master thesis.
Skills
- to be able to identify and discuss accounting public sector accounting practices (on the basis of scientific knowledge);
- to be able to critically examine the limitations and implications of various accounting models and standards used in internationally the public sector;
- to be able to use their own knowledge and reflect on their own practice in the field.
General competencies
- to be able to communicate and advocate their thoughts in a written form and orally;
- to develop the ability to assess and discuss the tension between theory and practice;
- to practice critical reading of academic literature and to form understanding of the role of theory and methods in academic articles;
- Be able to work on the tasks individually and in groups.
Assignment - group (letter grades A-F, counts 50%)
Oral exam - presentation (letter grades A-F, counts 50%)