Description
The course provides an introduction into the Accounting &rnControl environment for Financial Institutions. After finishing thisrncourse students should be able to explain how financialrninstitutions work, explain their business model, have a basicrnknowledge of their governance system and explain their rolernwithin society. Furthermore, students should have knowledge ofrnrelevant rules and regulation such as Basel II, Solvency II, IFRSrnand various governance codes. During the course some morerncomplex financial products and structures are explained.
Program
Accounting
Objectives
- The aim of this course is to introduce students to specifics of accounting for financialrninstitutions, namely banks and insurance companies. The course will focus on the financialrnactivities of financial institutions, which are significantly different than other business entities.rnEmphasis will also be placed on the accounting procedures followed in financial institutionsrnwhich are subject to the requirements of banking laws and regulations and consist of frequentrncompletion and submission of financial statements in a very detailed structure to providerna realistic picture of the financial performance, income and capital structures of banks.rnConcerning the accounting for insurance companies, the focus will be mainly on the assessmentrnof potential risks arising to insurance companies from their main activity in insurance andrnreinsurance activities, manifesting particularly in creating different sources of reserves.
