International Financial Accounting (in English)

Universidad Pablo de Olavide

Course Description

  • Course Name

    International Financial Accounting (in English)

  • Host University

    Universidad Pablo de Olavide

  • Location

    Seville, Spain

  • Area of Study

    Accounting, Finance, Peace and Conflict Studies

  • Language Level

    Taught In English

  • Prerequisites

    A previous Financial Accounting course is recommended (Not compulsory).
    To assure the students’ efficient learning and participation in the course it is advised to handle Accounting Standards and the recommended bibliography.

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • ECTS Credits

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    Course Description

    The main goal of this course is to understand how the information provided by financial reports, prepared using International Financial Reporting Standards (IFRS) or US Generally Accepted Accounting Principles (GAAP), affects the decision making of users such as investors, creditors, or managers. International Financial Accounting will cover the basic concepts underlying financial statements. For this purpose, a general introduction to accounting principles will be provided. The IFRS, used in many countries around the world, will be compared with the GAAP, currently used in the United States. From a practical approach, current economic, business, and global events will be linked to accounting issues. Competencies such as teamwork and ethical behavior will be developed within this course. At the completion of this course, students will have basic knowledge of accounting terminology, being able to understand how the information provided by financial reports affects the decision making of users such as investors, creditors, and managers at an international scale.

    The methodology of the course will be based on several different tools. Some sessions are devoted to introducing basic concepts, fostering the participation of students, and solving basic practical exercises on the concepts introduced. In some other sessions, assignments previously prepared, individually or in groups, will be solved and/or discussed, either by the instructor or by the students. Students will focus on the development of small cases that may need to apply the knowledge and techniques learned autonomously. Students are encouraged to use Blackboard, where the instructor will post slides, lecture notes, journal articles, assignment instructions, announcements, and additional resources. 

    Learning Objectives
    On completion of this course, students should be able to:

    • Master accounting and financial language and terminology.

    • Comprehend basic accounting and information disclosure characteristics.

    • Describe business disclosure practices.

    • Interpret financial information.

    • Use Information Technologies to access and review financial accounts and other corporate reports, as well as the information disclosed from several institutions and regulatory and standardization bodies.

    • Have acquired basic skills for developing and preparing financial statements and other business disclosure tools.

    • Demonstrate ethical, oral communication and team working skills. 

    Required Materials/Texts

    There is no textbook required for this course. Therefore, students are not expected to purchase any material. The instructor will post the class material (presentations, case studies handouts, in-class worksheets, announcements, links, and any additional reading) on Blackboard, which is accessible both on campus and off campus. To log in, you need to sign in on using the username and password you received in your orientation folder.

    However, the contents of the course are mainly but not only based on the following texts:

    • Alibhai, S. (2019). Interpretation and application of IFRS standards 2019 (1st edition). Wiley.

    • Barnes, J. (2020). International GAAP 2020: Generally accepted accounting practice under International financial reporting standards (1st edition). Wiley.

    • Hussey, R., & Ong, A. (2020). A nontechnical guide to international accounting. Business Expert Press.

    • Introduction to International Financial Reporting Standards (2019). In Wiley Interpretation and Application of IFRS Standards (pp. 1–26). Wiley.

    • EY (2020). International GAAP 2020. John Wiley & Sons, Incorporated.

    • Nobes, C., & Parker, R. (2020). Comparative International Accounting (14th edition). Pearson Education Limited.

    • Nobes, C., & Stadler, C. (2018). Investigating international differences in financial reporting: Data problems and some proposed solutions. The British Accounting Review, 50(6), 602614. 


    Course Requirements and Grading

    During office hours, students may check homework solutions, ask questions, and discuss any other aspect of the course with the lecturer. Please take advantage of this resource. If these hours conflict with your schedule, arrange to meet with the lecturer at a time that is more convenient.

    Regular attendance and class participation are expected of all students. Because the course covers a great deal of material, attending every class session is very important for performing well. In addition, students are expected to make a meaningful contribution to the class, whether by asking questions, responding to questions, or contributing in other ways to class discussion.

    Please find more information about class timetable, tutorials, and class materials (slides, exercises, documentation, etc.) on the Virtual Classroom. Students are expected to use the course’s Virtual Classroom (Blackboard Learn) on a regular basis.

    Your final grade will be calculated according to the following system:
    • 30% Tests
    • 20% Final Exam
    • 30% Final Project
    • 20% Class participation and extra assignments 

    Course contents

    Unit 1: Communicating Accounting Information  

    • Understand the importance of effective communication in international accounting. 

    • Explain the role of accounting standards and regulations in ensuring transparent financial reporting.

    • Comparison of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)

    • Role of the International Accounting Standards Board (IASB)

    • Analyze the ethical considerations in financial reporting and disclosure. 

    Unit 2: Balance Sheet  

    • Define and describe the components of a balance sheet under both GAAP and IFRS.

    • Differentiate between GAAP and IFRS treatment of assets, liabilities, and equity.

    • Analyze a balance sheet prepared under GAAP and IFRS to assess a company's financial position.

    • Presentation and disclosure requirements under IFRS

    • Comprehensive case studies on financial statement preparation  

    Unit 3: Income Statement  

    • Explain the purpose and structure of an income statement under both GAAP and IFRS.

    • Identify and classify various types of income and expenses under GAAP and IFRS.

    • Compare and contrast income statements prepared under GAAP and IFRS and analyze their implications.

    • Presentation and disclosure requirements under IFRS

    • Comprehensive case studies on financial statement preparation  

    Unit 4: Cash Flow Statement  

    • Understand the objectives of a cash flow statement under both GAAP and IFRS.

    • Analyze the three sections of a cash flow statement: operating, investing, and financing activities, under both standards.

    • Evaluate a company's liquidity and cash management through cash flow analysis under GAAP and IFRS.

    • Presentation and disclosure requirements under IFRS

    • Comprehensive case studies on financial statement preparation  

    Unit 5: Statement of Changes in Equity  

    • Describe the components of the statement of changes in equity under both GAAP and IFRS.

    • Explain the effects of various transactions on shareholders' equity under both standards.

    • Analyze changes in equity over time under GAAP and IFRS and their implications for investors.

    • Presentation and disclosure requirements under IFRS

    • Comprehensive case studies on financial statement preparation  

    Unit 6: Other Statements  

    • Explore other financial statements and reports used in international accounting, such as consolidation of financial statements, joint arrangements and foreign currency translation.  

    • Understand the similarities and differences in the treatment of these statements under GAAP and IFRS.

    • Discuss the ongoing convergence efforts between GAAP and IFRS and their impact on financial reporting. 

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations


This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies.

Read our Privacy Policy to learn more.