Intermediate Financial Accounting

Principles of financial accounting. IFRS. Main users of financial statements. Preparation of financial statements. Recording of business transactions. Merchandising perations. Assets and depreciation. Liabilities. Receivables and payables. Revenue recognition. Accounting for Leases. Accounting and the time value of money. Professional accounting ethics, ESG reporting basics and sustainability in accounting.

This course will be offered in the spring semester of the 2026/2027 academic year. The spring semester at TalTech runs from 1 February to 13 June 2027 (as indicated in the Start Date section). TalTech's timetables for the spring semester of 2027 will be published at the end of January at https://tunniplaan.taltech.ee.

After completing this course, the student:

• demonstrates a comprehensive understanding of International Financial Reporting Standards (IFRS) and justifies their application in the preparation and presentation of financial statements;
• prepares financial statements in accordance with IFRS, applying relevant standards and guidelines to ensure true and fair financial reporting;
• identifies and assesses ethical dilemmas arising in the accounting profession, justifies their position, and applies ethical reasoning to develop well-reasoned solutions;
• explains the principles and standards of non-financial reporting, including sustainability and corporate social responsibility metrics, and evaluates their significance for different stakeholders in an evidence-based manner;
• applies financial and non-financial reporting standards when analysing real-world cases and problems, and critically evaluates alternative solutions and the arguments supporting them;
• presents and justifies analyses and positions related to financial and non-financial reporting professionally in written, oral, and visual forms, and participates in reasoned professional discussion.

Final assessment can consist of one test/assignment or several smaller assignments completed during the whole course. After declaring a course the student can re-sit the exam/assessment once. Assessment can be graded or non-graded. For specific information about the assessment process please get in touch with the contact person of this course. For specific information about grade transfer please contact your home university

Prerequisite - Accounting for Beginners Course.

• Kieso, D. E., Weygandt, J. J., Warfield, T. D. (2011 or 2014). Intermediate Accounting. IFRS ed. Vol I, II. Hoboken (New Jersey): John Wiley & Sons

lectures, exercises