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.
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.
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.
Quagli Alberto, Gli standard dello IASB nel sistema contabile italiano, Giappichelli, Torino, 2018, parte Prima, Seconda, Terza e Quarta
Traditional lessons, exercises, seminars. The slides used to support of the lessons are loaded in the Elly platform; integrative documents, in particular related to the exercises, are loaded in the same platform. To unload the slides the registration is necessary to the course on line.
For a good preparation of the examination it is fundamental the use and the study of the text of reference; the slides are used only as a support for the lessons and they don't replace the text.
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 (16 points) aim to verify the knowledge about the regulations related to consolidated financial statement and IFRS.
Exercises (16 points) aim to verify the capacity to use the skills and competencies on consolidated financial statement and IFRS. The range of evaluation is 0-30. the student that reaches the maximum evaluation in every part also achieves the laude. During the test the use of calculator is allowed. The results of the test are published on ESSE3.