Learning outcomes of the course unit
a. Knowledge and understandings:
The objectives of the course are the International Financial Reporting Standards (IAS/IFRS) or international accounting principles and the group financial statements or consolidated financial statements.
Knowledge acquired during the course will lead the student to be able to apply main preparation procedures and methods of the:
1. financial statements of Companies obliged to adopt IFRS (as listed companies in stock markets) or companies which decide to adopt on a voluntary basis the IFRS in order to be comparable in an international framework
2. financial statements of medium and large size companies.
b. Application of the knowledge:
1. with reference to IFRS/IAS: the course will provide to the student knowledge on applicable legal framework, main International Financial Reporting Standards (IFRS), conversion methods to International Accounting Principles, content of the balance sheet and profit and loss and of the explanatory notes;
2. with reference to consolidated financial statements: the course will provide to the student knowledge on the applicable legal framework, consolidation methods of the companies pertaining to the group, consolidation procedures, elimination entries and specific requirements of the explanatory notes of the consolidated financial statements.
c. Making judgements: at the end of the course, the student should be able to effectively apply International Financial Reporting Standard (IFRS) and main consolidation methods and procedures, being an effective support in staff to the administrative department of medium and large size companies.
d. Communication skills: the contents of the course will be communicate using advanced teaching methods, exercises and cases and by an active role of the student during the lessons.
Course contents summary
The course is composed of two parts.
The first part will cover the following topics:
1. IL CONCEPTUAL FRAMEWORK OF THE INTERNATIONAL ACCOUNTING STANDARDS
2. MAIN PRINCIPLES AND TRANSITION TO IFRS
3. CONTENT AND STRUCTURE OF FINANCIAL STATEMENTS
4. TANGIBLE AND INTANGIBLE ASSETS
6. PROVISION AND DEBTS
7. REVENUE AND RECEIVABLES
8. BUSINESS COMBINATIONS
9. CASH FLOW STATEMENT
10. EXPLANATORY NOTES
The second part will cover the following topics:
1. CONSOLIDATED FINANCIAL STATEMENT. FRAMEWORK
2. CONSOLIDATION METHODS
3. MAIN CONSOLIDATION ENTRIES
4. CONTENT OF THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS.
AA.VV. Principi contabili internazionali: caratteristiche, struttura e contenuto, Torino, Giappichelli, 2013.
Material given by teacher.
Traditional lessons and examples.
Assessment methods and criteria
Written exam with: