In the master course on “Advanced International Accounting” Dr. Robert Walter (IFRS Principles & Valuation, ProSiebenSat1 Media SE) provided interesting insights into the topic of “IFRS in the media industry”. In his guest lecture, he showed how the IFRS requirements on consolidation, M&A accounting, impairment testing and revenue recognition apply to specific issues in the media industry. Moreover, he discussed current practical challenges for the accounting function.