CHALLENGES REGARDING IN TEACHING INTERNATIONAL FINANCIAL REPORTING STANDARDS
CHALLENGES REGARDING IN TEACHING INTERNATIONAL FINANCIAL REPORTING STANDARDS

Author(s): Nadya Velinova-Sokolova
Subject(s): Economy, Accounting - Business Administration
Published by: Икономически университет - Варна
Keywords: IFRS; teaching; challenges; innovative technics
Summary/Abstract: The increasing pace of global conformance towards the adoption of International Financial Reporting Standards (IFRS) highlights the need for accounting students as well as accounting practitioners to be conversant with IFRS. The objective of the Conceptual Framework of IFSR is to facilitate the consistent and logical formulation of IFRSs, adopting a Framework-based approach to teaching IFRSs provides students with a cohesive understanding of IFRSs by relating the requirements in IFRSs to the objective of IFRS financial information and the concepts that underlie IFRSs and inform its development. This paper is presents challenges regarding in teaching IFRS. We suggest a three-step approach to teaching IFRS judgements (concepts, to principles/rules, to the judgements required in the application of those rules), and provide accounting educators with guidance and resources.

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