MPF_UOKK International Financial Reporting 2

Faculty of Economics and Administration
Spring 2026
Extent and Intensity
2/2. 6 credit(s). Type of Completion: zk (examination).
In-person direct teaching
Teacher(s)
Mgr. Ing. Filip Hampl, Ph.D., LL.M. (lecturer)
Ing. Bc. Jana Hvozdenská, Ph.D. (lecturer)
Ing. Eva Hýblová, Ph.D. (lecturer)
Ing. Martina Sponerová, Ph.D. (lecturer)
Mgr. Ing. Filip Hampl, Ph.D., LL.M. (seminar tutor)
Ing. Bc. Jana Hvozdenská, Ph.D. (seminar tutor)
Ing. Eva Hýblová, Ph.D. (seminar tutor)
Ing. Martina Sponerová, Ph.D. (seminar tutor)
Guaranteed by
Mgr. Ing. Filip Hampl, Ph.D., LL.M.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Prerequisites
MPF_MUST IFRS 1 &&! MPF_FIU3 Financial Accounting 3 &&! MPF_UCFI Corporate Accounting
The course assumes knowledge of the International Financial Reporting Standards (IFRS) within the scope of the course MPF_MUST International Financial Reporting 1, economic knowledge related to the asset and financial structure of business companies, business financing and financial instruments within the scope of the course BPF_FIMG Financial Management and MPF_FIFI Corporate Finance, as well as basic legal knowledge and skills within the scope of the course BPP_ZAPR Introduction to Law.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 70 student(s).
Current registration and enrolment status: enrolled: 0/70, only registered: 0/70
fields of study / plans the course is directly associated with
Course objectives
This course aims to deepen and broaden students' knowledge acquired in International Financial Reporting 1. The course focuses on the accounting and reporting of more complex economic transactions, other events and accounting concepts, including business combinations, as well as methods of consolidation and the preparation of consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). Students will develop knowledge of and practical skills in applying IFRS standards and IFRIC interpretations to assess the economic transactions of reporting entities, and to interpret and analyse information presented in consolidated financial statements.
Learning outcomes
After completing the course, the student should be able to do the following:
1. Discuss and explain the importance of deferred tax for users of financial statements.
2. Convert financial statements prepared under national accounting rules (national GAAP) to IFRS and analyse the resulting differences.
3. Apply the principles and guidelines of IFRS for the recognition and measurement of derivatives, impairment of financial instruments, and business combinations (mergers and acquisitions).
4. Develop accounting policies that fairly represent business combinations in accordance with IFRS.
5. Present, interpret, and analyse consolidated financial statements in accordance with IFRS.
Syllabus
  • Lectures
  • Module I: Advanced IFRS applications
  • 1. Transactions and interests involving an entity’s own equity instruments – standards IFRS 2 Share-based Payment and IAS 33 Earnings per Share. Reporting of share-based payments settled in equity instruments and share-based payments with a cash settlement alternative. Disclosure requirements. Presentation of basic and diluted earnings per share (EPS) in the statement of comprehensive income.
  • 2. Current and deferred tax under IAS 12 Income Taxes. Reasons for deferred tax, its importance, purpose and interpretation. Calculation, accounting recognition, and reporting of current and deferred tax in financial statements. Effects of foreign currency exchange rate changes under IAS 21 The Effects of Changes in Foreign Exchange Rates. Functional currency, presentation currency and foreign currency, rules for translating financial statements from functional currency to presentation currency. Recognition and measurement of exchange differences from transactions in foreign currencies
  • 3. Measurement of financial instruments under IFRS 9 Financial Instruments. General impairment approach for financial assets – expected credit loss model (ECL model), calculation of impairment allowances. Modifications of contractual cash flows without a change in credit risk, due to changes in interest rates or inflation. Recognition, initial and subsequent measurement of financial liabilities.
  • 4. Derivatives and embedded derivatives under IFRS 9 Financial Instruments I. Definition, recognition, initial and subsequent measurement, and disclosure of derivatives. Accounting and reporting of non-hedging derivatives. Specifics of accounting treatment and reporting of embedded derivatives. Disclosure requirements.
  • 5. Derivatives and embedded derivatives under IFRS 9 Financial Instruments II. Recognition, measurement, and presentation of derivatives designated as hedging instruments. Purpose and objectives of hedge accounting. Disclosure requirements.
  • 6. Specifics of accounting and reporting of financial instruments in financial institutions. Structure of the statement of financial position, the statement of profit or loss and other comprehensive income, and other financial statements of financial institutions. Interpretation of accounting information to assess the financial position and financial performance of financial institutions. Comparison with non-financial reporting entities.
  • Module II: Business Combinations (Mergers and Acquisitions)
  • 7. Business combinations – definition and process of mergers, acquisitions, and changes in the legal form of a business corporation.
  • 8. Accounting perspective on business combinations. Definition of key terms and scope of IFRS 3 Business Combinations. Identification of a business combination, determination of the acquirer and the acquisition date. Initial recognition, measurement, and reporing of business combinations. Recognition and measurement of goodwill or gain from a bargain purchase. Subsequent measurement and accounting for business combinations. Disclosure requirements under IFRS 3.
  • 9. Overview of IFRS standards applicable to economic transactions that fall outside the scope of IFRS 3 business combinations (IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, IAS 40 Investment Property). Comparison of the IFRS and Czech accounting framework approaches to business combinations.
  • Module III: Consolidation Process and Consolidated Financial Statements
  • 10. Introduction to consolidation and the concept of the group as a single economic entity. Principles of reporting and preparing consolidated financial statements in accordance with IFRS 10 Consolidated Financial Statements. Criteria for controlling another accounting entity, principles of consolidation and exemption from consolidation. Full consolidation method.
  • 11. Investments in associates and joint ventures according to IAS 28 Investments in associates and joint ventures. Definition of terms, requirements for applying the equity method to investments in associates and joint ventures, exemptions from consolidation. Equity method.
  • 12. Accounting for joint arrangements under IFRS 11 Joint Arrangements. Assessment of joint control and classification of joint arrangements. Principles for preparing financial statements of parties to a joint arrangement. Disclosure requirements for interests in subsidiaries, joint arrangements, and associates in accordance with IFRS 12 Disclosure of Interests in Other Entities, and for related party transactions under IAS 24 Related Party Disclosures. Accounting policies and reporting requirements for investments in subsidiaries, associates, and joint ventures when an entity prepares separate financial statements under IAS 27 Separate Financial Statements. Disclosure requirements.
  • Seminars
  • 1. Reporting for share-based payments under IFRS 2. Distinction between equity-settled and cash-settled share-based payment arrangements. Calculation and reporting of basic and diluted earnings per share (EPS) in accordance with IAS 33. Comprehensive case study.
  • 2. Current and deferred tax under IAS 12. Calculation of the carrying amount and tax base of assets and liabilities, determination and recognition of deferred tax. Presentation of deferred tax in the financial statements and its interpretation from the perspective of financial statement users.
  • 3. First-time adoption of IFRS under IFRS 1 First-time Adoption of International Financial Reporting Standards – procedures and date of transition to IFRS, practical simplifications. Comprehensive case study on the transition of national financial statements to IFRS using digital tools (i.e. first-time adoption of IFRS).
  • 4. Calculation of impairment allowances under the expected credit loss model (ECL model) based on the level of credit risk associated with a financial asset. Changes in the subsequent measurement of financial assets measured at amortised cost (AC) due to modifications in contractual cash flows without a change in credit risk.
  • 5. Accounting and reporting of derivatives under IFRS 9.
  • 6. Accounting and reporting of derivatives under IFRS 9. Comprehensive case study.
  • 7. Accounting and reporting of business combinations under IFRS 3. Identification of a business combination in accordance with IFRS 3, determination of the acquirer and the acquisition date. Differentiation of business combinations within the scope of IFRS 3 from transactions governed by other standards.
  • 8. Recognition, measurement and presentation of asset acquisitions and share acquisitions under IFRS 3.
  • 9. Recognition, measurement and presentation of mergers of business entities under IFRS 3. Recognition and measurement of goodwill or gain from a bargain purchase. Comprehensive case study.
  • 10. Differences in accounting and reporting of business combinations between IFRS and Czech accounting standards. Comprehensive case study.
  • 11. Consolidated financial statements I – full consolidation method. Comprehensive case studies.
  • 12. Consolidated financial statements II – equity method of consolidation. Comprehensive case studies.
Literature
    required literature
  • KRIMPMANN, Andreas. Principles of Group Accounting Under IFRS. 1. vydání. John Wiley & Sons, 2015. 864 s. ISBN 9781118751404.
  • RAMIREZ, Juan. Accounting for Derivatives: Advanced Hedging under IFRS 9. 2. vydání. John Wiley & Sons, 2015. 770 s. ISBN 978-1-118-81797-1.
  • HÝBLOVÁ, Eva and Filip HAMPL. Mezinárodní standardy účetního výkaznictví. Studijní text (International Financial Reporting Standards. Study text). 1., elektronické vydání. Brno: Masarykova univerzita, 2020, 189 pp. ISBN 978-80-210-9580-9. URL URL info
  • ERNST YOUNG. International GAAP 2023. Generally Accepted Accounting Practice under International Financial Reporting Standards. 18. vydání. EY International Financial Reporting Group, 2023. 5868 s., ISBN 9780117094369.
  • Aktuální znění IFRS standardů a IFRIC interpretací dostupné v nařízení Komise (EU) 2023/1803 ze dne 13. srpna 2023, kterým se přijímají některé mezinárodní účetní standardy v souladu s nařízením Evropského parlamentu a Rady (ES) č. 1606/2002 (kons. zn.)
    recommended literature
  • SKÁLOVÁ, Jana. Účetní a daňové souvislosti přeměn obchodních společností. 3. vydání. Praha: Wolters Kluwer, 2019, 227 stran. ISBN 9788075985705. URL info
  • SKÁLOVÁ, Jana. Účetní a daňové souvislosti zákona o obchodních korporacích. Praha: Wolters Kluwer, 2015, 175 stran. ISBN 9788074789717. info
  • DVOŘÁKOVÁ, Dana. Finanční účetnictví a výkaznictví podle mezinárodních standardů IFRS. 5. aktualizované vydání. Brno: BizBooks, 2017, 368 pp. ISBN 978-80-265-0692-8. info
  • MLÁDEK, Robert. IFRS a US GAAP :postupy účtování. Edited by Robert Mládek. Vydání první. Praha: Leges, 2017, 464 stran. ISBN 9788075021946. info
Teaching methods
The course includes 2 hours of lectures and 2 hours of seminars each week. Lectures provide theoretical explanations, supplemented by the solving of example problems and accounting scenarios. Seminars emphasise discussion and practical work through exercises and case studies focused on the recognition, valuation and derecognition of economic transactions and consolidation in accordance with International Financial Reporting Standards (IFRS). Students are required to engage in self-study of the assigned literature during the semester.
Assessment methods
A written exam concludes the course. The requirements to sit for the exam are (i) seminar attendance (max. 3 unexcused absences), (ii) active participation in the form of presentations of assigned tasks and participation in discussion or problem-solving during the semester (min. 6 points), and (iii) passing the mid-term assessment. To complete the course, students must obtain at least 60 points in total from the exam (max. 80 points) and the mid-term assessment (max. 20 points). When achieving the minimum of 60 points, points obtained for active participation in seminars during the semester (max. 12 points) are also included in the final evaluation.

Caution: “Any copying, recording or leaking of the exam; use of unauthorised tools, aids or communication devices; or other disruptions of the objectivity of exams (credit tests) will be considered noncompliance with the conditions for course completion as well as a severe violation of the scholastic rules. A student found in violation will have a grade of F recorded in the Information System of Masaryk University, and the dean will initiate disciplinary proceedings that may result in suspension or expulsion. The aforementioned disciplinary procedure relates to all the activities comprising the final evaluation of the course.”
Náhradní absolvování
The exact above-mentioned requirements for completing the course apply to students studying abroad (e.g. Erasmus) with an individual study plan (ISP), except for compulsory attendance (an alternative assignment is provided). More information on the alternative assignment is given in the course interactive syllabus. Students are required to contact the guarantor in the first teaching week of the semester and arrange the deadlines for fulfilling the assignment.
Language of instruction
Czech
Follow-Up Courses
Further Comments
The course is taught annually.
The course is taught every week.
The course is also listed under the following terms Spring 2022, Spring 2023, Spring 2024, Spring 2025.
  • Enrolment Statistics (Spring 2026, recent)
  • Permalink: https://is.muni.cz/course/econ/spring2026/MPF_UOKK