The course covers the following topics :
1. The student acquires insight into why and how companies are required to do external reporting and what information external stakeholders expect from a company to support their decisionmaking
2. Students will become familiar with the context in which companies communicate their financial information to external stakeholders (the the financial statement items and general accounting principles)
3. Students will get an overview of existing regulation on External reporting international financial reporting standards, Belgian legislation)
4. Students will learn the basic principles of double-entry bookkeeping, the technique with which transactions are recorded during the period and how t the end of the year (or for interim statemetns) financial statements are prepared from the general ledger accounts
5. The student learns the contents of the key items in the accounts, and the way these items (assets, liabilities, equity, revenues and costs) are measured and presented in financial statements.