FINANCIAL STATEMENT AND DISCLOSURE
Learning outcomes of the course unit
At the end of the course the student is expected to be able to: a) know and understand the international financial reporting standards of the International Accounting Standard Board and the financial disclosure; b) apply the knowledge acquired to financial statements and reports published by public interest entities; c) independently judge and assess the most appropriate choices when applying international financial reporting standards and disclosure; d) communicate correctly and transparently the information deriving from the application of international financial reporting standards and the financial information required by Investor Relations; e) learn skills in order to work in a professional context.
Basic knowledge on accounting and financial statements based on Italian accounting standards
Suggested book (used on the courses of accounting in the bachelor degree of University of Parma):
Andrei, A. e Fellegara, A. M. (Ed.). (2019). Contabilità generale e bilancio d’impresa. G. Giappichelli Editore.
Azzali, S. (Ed.). (2019). Financial reporting and Accounting standards (Vol. 7). G. Giappichelli Editore.
Course contents summary
The contents are about the financial statements prepared with international financial reporting standards, with details on financial instruments.
-Quagli Alberto (2019) Gli standard dello IASB nel sistema contabile italiano. Giappichelli. ISBN 9788892117785. Chapter 10, 12, 15, 27, 28.
The additional material uploaded to Elly includes also financial statements and reports of banks and listed non-financial companies.
The additional teaching materials used during the lessons are uploaded to Elly. To download the material it is necessary to register for the online course. The material used is considered an integral part of the teaching material. Non-attending students are reminded to check the material available and the information provided by the teacher via the Elly platform.
Alternative book on international financial reporting standards for those who want to study in English:
-Kieso, Donald E., Jerry J. Weygandt, and Terry D. Warfield. Intermediate Accounting, Binder Ready Version. John Wiley & Sons, 2016. Chapter 10, 11, 12, 17.
The teaching methods use in an integrated and complementary way active learning methods (exercises, business cases) and theoretical lessons. The activities take place remotely in synchronous mode (via Teams) and asynchronously (video uploaded on the Elly page of the course). The teaching methods favor active learning methods, with lectures in synchronous mode (live) characterized by a high practical connotation, especially through the frequent recourse to real cases.
Group work is on a voluntary basis. Its final exposure can be in presence or remotely based on student choice.
Acquisition of knowledge: through lectures.
Acquisition of the ability to apply knowledge: through exercises.
Acquisition of independent judgment and learning skills: through the analysis of real cases.
Acquisition of technical language: through the use and the explanation of the terminology commonly used by the financial community.
Assessment methods and criteria
The learning assessment includes a final individual written exam divided in 2 parts with equal importance and evaluation weight: first part (16/32) exercise on the evaluation based on international financial reporting standards; second part (16/32) case study on financial instruments in the financial reporting. The final grade in thirty-two let to have an objective evaluation to assign “lode”. To pass the exam, regardless of the score of the groupwork, the final written exam must be sufficient (at least 18).
GROUPWORK: CASE STUDY ANALYSIS
During the course, the student may voluntarily carry out a group work which can provide 0, 1, 2 or 3 points (depending on the results obtained) to be added to the final written exam grade. The group work must be presented orally and sent to the teacher in pdf format in the appropriate deposit on Elly within the set deadlines indicated on Elly.
If, due to the persistence of the health emergency, it is necessary to use the remote mode for carrying out the exams, a final written test will be carried out at a distance with the Quiz tool on the Elly portal of the course. The exercise and the case analysis will be structured with open and closed question of the Quiz. The written test will last 40 minutes in addition to the initial control and preparation time. Based on the needs, the exam can be carried out in different rounds throughout the day depending on the number of students enrolled. The guides to the platforms that will be used (via Teams / Elly / Respondus) are available at the following links: http://selma.unipr.it/; http://selma.unipr.it/wp-content/uploads/Guida-Respondus.pdf; https://elly.sea.unipr.it. All students are asked to upload their identity document with photo (front and back in a single file) into a OneDrive folder shared and set up to allow private and secure data management. The link to the OneDrive folder will be available on Elly. It is necessary to download and install a software for scanning images / photos on your smartphone that allows you to transform these images into files to be sent. You can download the "Adobe Scan" app (compatible with Android and iOs). The guide is available at the following link: http://selma.unipr.it/wp-content/uploads/ADOBE-SCAN_guida-alluso.pdf
USEFUL MATERIALS FOR THE EXAM AND COMMUNICATION OF RESULTS
The use of texts or electronic devices, like for example smartphone or smartwatch, during the final written test is not permitted, while the use of the calculator is permitted. The results will be communicated to students through the IT system used in this regard by the Department of Economic and Business Sciences, Esse3. There are no intermediate individual tests or oral exams.
The acquisition of knowledge and the acquisition of ability to understand will be verified by the exercises in the final written test.
The acquisition of ability to apply knowledge, of independent judgment and learning skills will be ascertained with the analysis of extracts from real cases.
The ability to communicate with appropriate technical language will be ascertained by verifying the suitability of the lexicon adopted by the student during the evaluation.