Teaching IFRS in the UK: contrasting experiences from both sides of the university divide

Stoner, Gregory N and Sangster, Alan (2013) Teaching IFRS in the UK: contrasting experiences from both sides of the university divide. Issues in Accounting Education, 28 (2). pp. 291-307. ISSN 0739-3172

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Abstract

This paper discusses the impact of the increased importance of International GAAP (International Financial Reporting Standards [IFRS]) in the U.K. higher education teaching and learning environment. This change was caused by the increased harmonization of accounting standards during the first decade of the 21st century and, in particular, the adoption within the European Union (EU) of IFRS for fully listed companies in 2005 and other listed companies soon after. After outlining the nature and diversity of accounting education and its relationship to the U.K. accounting profession, we discuss the approaches taken in a range of U.K. accounting degree programs and how U.K. faculty and students adapted to the change from U.K. GAAP to IFRS. The U.K. university sector is divided into “old” universities—those formed before 1992, often referred to as the “research universities,” and the “new” universities—those founded in or after 1992, whose main focus is vocational, the “teaching universities.” We conclude that despite various troublesome adjustments in terminology, definitions, and layout, for different reasons the different groups of faculty have generally not had to undergo excessive adjustments in their teaching in order to embed IFRS into their courses. We conclude the paper by acknowledging the limitations of our research and with some indications of lessons for others who face the transition to IFRS in the future.

Item Type: Article
Keywords: IFRS, UK, GAAP, Curriculum, Teaching
Schools and Departments: School of Business, Management and Economics > Business and Management
Depositing User: Stacey Goldup
Date Deposited: 15 Nov 2016 15:36
Last Modified: 15 Nov 2016 15:36
URI: http://sro.sussex.ac.uk/id/eprint/65494
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