INTERNATIONAL FINANCIAL REPORTING

Course Outline

Course Information:
Programme- PGIM (Term II)
Academic Year: 2019-2020
Duration - September – December 2019
Delivery location- MDI Gurgaon, Gurugram
Classroom- Lecture Hall, Chanakya
Language- English
Course type- Core courses
Contact hours- 30 hours
Field (Discipline)- Accounting
Academic Department: Accounting and Finance

Faculty Information:

Faculty: Manoj Anand

Office Phone: 91-124-4560504
Email Address: manand@mdi.ac.in
Office Location: C-23
Consultation Hours: By appointment only

Course Objectives:
The main objective of this course is to give students a critical understanding of
financial information to prepare and analyze financial statements in an
international environment by complementing the basic concepts studied in
fundamental accounting courses. This course provides students with the
concepts and tools to follow the elective courses in financial reporting.
Teaching Pedagogy:
In addition to lectures and problem solving sessions, the other methods of
instruction include the preparation, presentation and discussion of business
cases. This approach helps the students to focus on the application of concepts
within a business context. It promotes independent thinking, clear communication
and a careful attention to all the dimension of a problem. The cases chosen for
this course are covered in the text.

Course Requirement:
Participants are expected to have required readings and assignments completed
before each class. Further, they are required to honour the deadline set by the
instructor. Surprise Quizzes will be held during class periods. For students who
might not be able to keep pace with the class remedial sessions may be offered.
These sessions will be held only on specific request of student body.

Prescribed Text
1. Beginner’s Guide to Ind-AS & IFRS, Kamal Jain, Bharat Publications, New
Delhi, Third Edition
The participants are also encouraged to go through the following textbooks for
detailed understanding

Additional Readings:
1. D S Rawat, “Students' Guide to Financial Reporting with Applicable Ind ASs”
(4th Ed), Taxman, New Delhi

Websites for reference:

www.ifrs.org official website of IFRS
www.icai.org official website of Institute of Chartered Accountants Of India

Supplementary Material:
Lecture slides and other class related items would be made available via PGP
cell. However, the primary source would be the class notes taken down by the
participants in the class. Examinations will be based primarily on class room
discussions.

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 SESSION-WISE COURSE OUTLINE

Topic Introduction to GAAP

Sessions Readings Basic Accounting Concepts and Assumptions (#5060 David
1 F Hawkins)
Case -
Topic Institutional issues of IFRS and introduction to IFRS
Sessions financial statements
Readings The IASB at a cross road- The future of International
2
Financial Reporting Standard (#9111084 by Karthik
Ramanna)
Case Presentation and Discussion
Topic US GAAP and IFRS – A comparison
Readings Bridging the GAAPs (#9111114 by Gwen YU)
Sessions
Is it US GAAP or IFRS? Understanding how R&D costs
3
affect IFRS (BH 984 by Jean Turlington)
Case -
Topic Indian GAAP, US GAAP and IFRS – A comparison
Readings Leadership in Corporate Reporting Policy at Tata Steel
Sessions
(#9111028 by Karthik Ramanna)
4-5
Case Essar Energy: Indian GAAP, US GAAP or IFRS (W13226
by David Sharp)
Topic Revenue Recognition
Readings Revenue Recognition (#5066 by David F Hawkins)
Revenue Recognition (#101017 by Paul Healy)
Sessions
Cases Revenue Recognition at HBP (#9-119-029 by Paul Healy)
6-7
Wareham SC Systems Inc.,(#9-110-015 by David Hawkins)

3
 Topic Non Current Assets: Revaluation and Impairment
Readings Why Fair Value is the rule? (R1303H by Ramanna)
Sessions
Fair Value Measurement in Accounting (#5083 by David F
8-10
Hawkins)
Case Silic (A): Choosing Cost or Fair value on adoption of IFRS
(108030 by David F Hawkins)
Silic (B): Choosing Cost or Fair value on adoption of IFRS
(108031 by David F Hawkins)
Land Securities Group (A): Choosing Cost or Fair value on
adoption of IFRS (#110026 by Riedl)
SIPEF: Biological Assets at Fair value under IAS 41
(#110026 by Riedl and Meyer)
Mid Term Exam
Topic Financial Assets and Liabilities
Readings Fair Value Accounting for investments in debt securities
Sessions
(#9209134 by William E Fruhan Jr)
11-12
Expensing Stock Option- A fair value Approach (#R0312J
by Kaplan and Palepu)
Case To Be announced
Topic Lease Accounting
Readings The path of Lease Resistance: How changes to lease
Sessions
accounting treatment may impact your business (BH 642 by
13
Andrew D Gross)
Case Lease Decision at Magnet Beauty products (#9111039 by
Krishna Palepu)
Leasing Computers at persistent Learning (#510954 by
Devin Santhikumar)

4
 Topic Contingent and Environmental Liabilities
Readings Disclosure Dilemma: Financial reporting of Contingent and
Environmental Liabilities (#A200 by Alan D Jagollinzer)
Sessions
Cases Accounting for Liabilities: Lessons from Exxon Valdez
14
(BAB719 by Janice Bell)
BP and Contingent Liabilities (A220 by Jaclyn Foroughi)
Topic Business Combinations
Readings IFRS 3 and IAS 27
Sessions
Accounting for Business Combination: Acquisition Method
15 -17
(#9108067 by David F Hawkins)
Case Kanebo Ltd. (A) (#9111037 by David F Hawkins)
Topic Accounting key performance indicators
Readings Indicators: Helpers or hindrances (IIR029 by Raul A Ibanez)
Sessions
Leading with next generation Key Performance Indicators
18
( #SMR 716 by Micheal Schrage)
Case Performance Indicators (# 9 702480 by Kenneth S Corts)
Topic Auditing Managers Responsibility
Readings Corporate Responsibility, Corporate Governance and
Sessions
Financial Performance: Lesson From Finance (#BH304,
19
Robert Neal)
Five Elements of Corporate Governance to manage
strategic risk (BH 189 by Stephen A Drew)
Case Lehman Brothers and Repo 105 (#9112050 by Anette
Mikes)
Session End Term Review
20

* Cases mentioned in the course outline are tentative only. Appropriate changes may
be made if required.

5
Evaluation Criteria:
Case Analysis & Assignments 20%
Unannounced Quiz 20%
Mid Term Examination (written) 30%
End Term Examination (written) 30%

Learning Goals and Objectives:

LG2: Global Management Perspective

LO2. Be able to analyze impact of global management issues (as opposed to

the domestic environment) and their impact on management decisions

LG3: Analytical and Integrative Thinking

LO2. Be able to critically analyze the identified business problem using

analytical techniques, models, or frameworks in order to integrate different
aspects of business.