Learning outcomes of the course unit
At the end of the course students are expected to:
a) know and understand the International Financial Reporting Standard (IFRS) and the regulation for the preparation of consolidated financial statement.
b) develop skills to use the competencies related to IFRS and to consolidated financial statement.
c) develop autonomy of evaluation about the best choices related to the use of IFRS and the preparation of consolidated financial statements.
d) develop communications skills for the publication of fair and transparent information coming from the use of IFRS and the preparation of consolidated financial statements.
e) develop further skills about IFRS and consolidated financial statements useful for profession.
The aim of the course is to develop the International Financial Reporting Standard for Financial Reportin for listed companies.
a. Knowledge and understanding: with this course the student takes skills about the financial reporting and consolidated financial statement process of comunication in listed companies.
b. Applying knowledge and understanding: the student, at the end of the course, would be able to use with efficacy the International Financial Reporting Standard (IFRS) both the theoretical framework and the most important implementation techniques.
c. Making judgments: the student would be able to use the discretionary interpretation of International Financial Reporting Standard coherently with the aim of financial reporting.
d. Communication skills: the student would be able to relate with all the stakeholder about the faithful representation of financial situation and performaces of the company.
e. Ability to learn: the contents of the course can be communicate with advanced teaching methods, exercises and cases, and an active role of the student during the lessons.
Knowledge of Accounting system and double enter bookiping.
Course contents summary
Contents are related to Consolidated Financial Statement and International Financial Reporting Standards (IFRS). Contents about the consolidated financial statement include the regulation provided by the standards in the definition of consolidation area, techniques for the homogeneization of accounting system, methods of consolidadion, intercompany operations, consolidated balance sheet and income statement. About IFRS, contents are related to theards (IAS), International FInancial Reporting Standards (IFRS), Standing Interpretation Committee (SIC) e International Financial Reporting Interpretation Committee (IFRIC) adopted in countries of European Union.
IL CONCEPTUAL FRAMEWORK
2. IL FAIR VALUE
3. UNDERLYING ASSUMPTION
4. THE COMPOSITION OF FINANCIAL REPORTING
5. TANGIBLE AND INTANGIBLE ASSETS
6. IMPAIRMENT TEST
7. FINANCIAL INSTRUMENTS
9. PROVISION AND DEBTS
10. BENEFITS FOR EMPLOYEE
12. FOREIGN CURRENCY OPERATIONS
13. INCOME TAXES
14. BUSINESS COMBINATIONS
15. CONSOLIDATED FINANCIAL STATEMENTS AND SEPARATE FINANCIAL STATEMENTS
16. INTERESTS IN OTHER ENTITIES AND DISCLOSURE
17. RELATED PARTIES OPERATIONS.
Extended contents is organized on two wide topics: consolidated financial statement and IFRS.
Extended contents about the consolidated financial statement include:
- consolidation area
- omogeneity of accounting system
- method of consolidation
- elimination of investment and minority interests
- elimination of values related to intra-groups transactions
- consolidated accounting schemes
- investment evaluated at equity method
Contents on IS/IFRS include the purpose, basic assumptions and accounting schemes and measurement criteria related to assets, liabilities, revenue and expenses.
Fornaciari Luca, Gruppi Aziendali e bilancio consolidato in Italia, Giappichelli, Torino, 2017.
Documents available on internet site of the course
AA.VV., Principi contabili internazionali: caratteristiche, struttura e contenuto, Torino, Giappichelli, 2013.
Material given by teacher.
Teaching activities use in an integrated and complementary ways active methodologies (exercises, case study, seminars) and traditional lessons.
Traditional lessons and exercises
Assessment methods and criteria
Exam is based on written test that include questions and exercise about the IFRS and the consolidated financial statements. Questions and exercise have the same weigth on the final result of the exam.
Questions aim to verify the knowledge about the regulations related to consolidated financial statement and IFRS.
Exercises aim to verify the capacity to use the skills and competencies on consolidated financial statement and IFRS.
WRITTEN EXAM WITH: