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 rules of recognition with double enter bookiping and knowledge of national accounting standards (OIC)
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 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, 2021.
Quagli Alberto, Gli standard dello IASB nel sistema contabile italiano, Giappichelli, Torino, 2018, parte Prima, Seconda, Terza, Quarta
Acquisition of knowledge: mixed method, with streaming lessons, video-recorded lessons and face-to-face lessons
Acquisition of capability in applying knowledge: exercitations
Acquisition of autonomy in judgment: exercitations
Acquisition of learning skills: lectures developed in mixed method and seminars will present problematic situations and stimulate the focus on critical issues and propose appropriate solutions.
Acquisition of technical language: during the course will be illustrated the main accounting words
The slides used to support of the lessons are loaded weekly on Elly; the same for integrative documents, in particular related to the exercises. 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 online written test (March, 17, 2021) and online colloquium.
The test (25 minutes) is focused on consolidated financial statement and includes 8 questions and 4 exercises:
- questions have 3 possible choices and give 2 points in case of correct answer, 1 point in case of partial correct answer, 0 point otherwise (maximun 16 points);
- exsercises give 4 points in case of correct answer (maximunm 16 point).
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. Exercises (16 points) aim to verify the capacity to use the skills and competencies on consolidated financial statement. The range of evaluation is 0-32. Student that reaches the maximum evaluation in every part also achieves the laude.
Within the first 3 exam of the summer section (within 9 july 2021), students must conclude the exam with a colloquium based on questions and comment on a financial statement of an italian listed company. Otherwise they loose the evaluation on written exam.
Students that do not pass or accept the result of the written test, the exam is based on a online colloquium that include questions and comments on a consolidated financial statement of an Italian listed company.
During the test the use of calculator is allowed.
The results of the test are published on ESSE3.
POST COVID-19 EXAM
The exam is based on a face to face and oral exam with questions about a specific consolidated financial statement drawnup with international accounting standards.