Details - Tematika

Basics of International accounting (MANGBAN-BASINACC-1)

Basic data

Name and type of the study programme

International business, undergraduate program

Curriculum

2026

Classes / consultation hours

1 + 2 + 0 (L+S+Labs)

Credits

4 credits

Theory – Practice

Theory: 33%, Practice: 67%

Recommended semester

Semester 5

Study mode

full-time

Prerequisites

Evaluation type

Mid-term evaluation

Course category

Compulsory

Language

English

Instructors

Responsible instructor

Hajnal Zsófia

Responsible department

Gazdaságtudományi Kar

Instructor(s)

Hajnal Zsófia

Checked by

–

Course objectives

Course Objective The aim of the course is to provide students who are already familiar with the double-entry bookkeeping system with specialized knowledge of the components of financial statements that present the financial position, financial performance, and income of business entities. The course covers the theoretical and methodological foundations, as well as practical procedures, related to the recognition and accounting treatment of economic events that affect these areas. In addition to accounting and reporting requirements under the Hungarian Accounting Act, the course also aims to introduce students to the fundamental principles and key characteristics of International Financial Reporting Standards (IFRS).

Course content

Lectures

Introduction to the World of International Accounting. Theoretical and historical background. The need for international regulation of accounting. Development of IFRS. Roles and responsibilities of the institutions involved in the IFRS framework. The Conceptual Framework. Accounting policies, changes in accounting estimates, and errors. Financial Statements under IFRS. Presentation of financial statements. Content and structure of financial statements. Assets and Related Topics I. Property, plant and equipment. Intangible assets. Investment property. Assets and Related Topics II. Accounting for government grants related to assets. Borrowing costs. Impairment of assets. Assets and Related Topics III. Non-current assets held for sale. Inventories. Liabilities and Related Topics I. Provisions, contingent liabilities, and contingent assets.

Seminars

Revenue Recognition. Revenue from contracts with customers. Accounting for government grants and government assistance. Financial Instruments I. Presentation of financial instruments. Fair value. Financial Instruments II. Scope, recognition, classification, and measurement of financial instruments. Income Taxes. Earnings per Share.

Acquired competences

Knowledge

Knowledge -Possesses comprehensive knowledge of the fundamental concepts, theories, and facts of economics, including their national and international interrelationships, with regard to relevant economic actors, functions, and processes. -Has a basic understanding of other fields related to their area of specialization, including engineering, legal, environmental protection, quality assurance, and other relevant disciplines. -Possesses the essential professional vocabulary of economics in their native language and in at least one foreign language. -Has knowledge of the fundamental concepts of finance and (international) accounting, financial products and markets, accounting information systems, the components of financial statements, and the underlying accounting processes. -Understands the interrelationships between finance and (international) accounting, has an overview of the most important theoretical approaches, and has acquired the fundamentals of financial and accounting thinking. -Has knowledge of the financing, (international) accounting, and taxation subsystems of corporate management. Is familiar with international accounting standards and understands the accounting and financial representation of the various stages of a business entity's life cycle, including establishment, operations, transformation, and liquidation.

Skills

Skills -Is able to determine the complex consequences of economic processes and organizational events. -Is able to plan and organize economic activities and projects, and to manage and monitor small businesses and other business organizations. By applying the theories and methods acquired, is able to identify, systematize, and analyze facts and fundamental relationships, draw independent conclusions, formulate critical observations, prepare proposals to support decision-making, and make decisions in routine and partially unfamiliar domestic and international environments. -Is able to cooperate effectively with representatives of other professional fields.

Attitude

Attitude -Demonstrates a problem-sensitive and proactive approach in pursuit of high-quality work; is constructive, cooperative, and initiative-taking when working on projects and in group tasks. -Is receptive to new information, professional knowledge, and methodologies, and is open to undertaking new tasks and responsibilities that require independent work and cooperation. -Strives to continuously develop their knowledge and professional relationships and to cooperate with colleagues in this process. -Is open to changes in the broader economic and social environment of their position, organization, or business, and strives to follow and understand such changes. -Is receptive to the opinions of others and to sectoral, regional, national, and European values, including social, societal, ecological, and sustainability considerations. -Is open to phenomena and problems related to finance and accounting and is committed to addressing and resolving them.

Autonomy and responsibilities

Autonomy and Responsibility -Under general professional supervision, independently performs and organizes the tasks specified in their job description. Independently organizes the analysis of economic processes and the collection, systematization, and evaluation of data. Takes responsibility for their analyses, conclusions, and decisions. -Independently leads, organizes, and manages an organizational unit or work group within a business organization, as well as a business or small enterprise, assuming responsibility for the organization and its employees. -Is capable of working independently, including selecting appropriate methodologies and techniques, organizing, planning, and managing work, collecting, systematizing, analyzing, and evaluating data, and pursuing continuous professional development. -Takes responsibility for complying with the professional, legal, and ethical standards and rules applicable to their work and conduct, as well as for the consequences of their activities, proposals, and decisions. -Demonstrates a commitment to high-quality work.

Requirements, evaluation and grading

Mid-term study requirements

The practical grade is determined based on the combined score obtained in two mid-term written tests. The two tests carry equal weight in determining the final grade.

Generative AI usage

Use of GAI tools is not permitted for solving assignments. This means GAI tools cannot be used to complete formative or summative assessments, and using GAI constitutes academic misconduct. The use of AI tools for spelling and grammar checking does not fall under this prohibition.

Study aids, laboratory background

Alexander, Britton & Jorissen – International Financial Reporting and Analysis Barry J. Epstein, Eva K. Jermakowicz – Interpretation and Application of IFRS Standards ISBN 0470453222, 9780470453223

Readings

Compulsory readings

1. Lakatos – Kovács – Mohl – Szirmai (2018): Nemzetközi Beszámolási Standardok elmélete és gyakorlata, Magyar könyvvizsgálói Kamara Oktatási Központ Kft, ISBN 9786158045483 – kijelölt részek Teaching materials made available through the online platform IFRS Foundation – Issued IFRS Standards