The aim of this module is to introduce students to both the conceptual foundations and the practical application of key international accounting standards. Emphasis is placed on how financial information is prepared, presented, and communicated to external stakeholders. The module also situates International Financial Reporting Standards (IFRS) within their historical and regulatory context, helping students understand how these standards have developed over time. Students will learn to interpret and apply IFRS to a range of business transactions and scenarios. They will also gain practical experience in preparing extracts of financial statements that comply with the relevant international standards. By the end of the module, students should be able to understand common accounting practices, appreciate the purpose of standard‑setting, and produce clear, reliable financial statement extracts aligned with global expectations.

Conceptual foundations and historical development of key IFRS. It focuses on the preparation, presentation, and communication of financial information to external users. Students will apply IFRS to selected transactions, including property, plant and equipment, intangibles, investment property, borrowing costs, and inventories. IFRS 15 revenue recognition and the preparation of financial statement extracts. Attention is given to identification, measurement, and disclosure requirements across the relevant standards. Students will develop technical competence, ethical awareness, and an understanding of the purpose and role of international standard‑setting.

On successful completion of this module, students will be able to: Explain the theoretical framework of accounting and the principles underpinning international accounting standards. Describe the purpose, structure and key requirements of selected accounting standards. Apply relevant international accounting standard requirements to structured examples and case-based situations to determine appropriate accounting treatments. Demonstrate proficiency in interpreting and working with numerical data relevant to the international standards studied. Analyse how accounting theory is translated into regulation and practice in real‑world reporting.

On successful completion of this module, students will be able to: Value the ethical responsibilities and public‑interest role of international financial reporting.

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The material for this module is delivered through a combination of lectures and tutorials, with content and skills developed progressively from week to week. Throughout the module, lectures and tutorials will incorporate recent developments in accounting regulation and emerging research on IFRS implementation to help students connect technical standards with real‑world practice. Contemporary case examples and current standard‑setting updates are integrated into teaching to reinforce the relevance of evolving financial reporting issues. Therefore, it is important that students engage consistently with the material as it is delivered. The module includes an end‑of‑semester in‑hall examination, which is required due to its links with exemption pathways for the professional accounting and tax institutes in Ireland. The final exam will be worth at least 75% of the overall module grade. To support early engagement and ongoing commitment to the module, a mid‑term examination is scheduled midway through the semester and accounts for at least 25% of the overall grade.