Learning objectives
In the first part of the course the focus is on basic concept regarding financial statement, and then on some specific issues, that are considered critical and very relevant in issuing a financial statement. In the second part, the aim i sto analyse the other documents that compose the financial statement, like cash flow statement, notes to the financial statement, management commentary, made also thanks to seminaries with auditors and the reading of real financial statements. At the end of the course, the students will be able to:
a) comprehend the contents of national accounting standars
b) issue and read financial statements with a critical point of view
c) to be autonomy in judging a financial statement and the related disclosure
d) to speak with auditors, accountants and financial and accounting directors in relation to financial statement critical aspects
e) to use several sources
Prerequisites
- - -
Course unit content
Legislation and accounting standards for financial statement
Tables of the financial statement
The single voices of the financial statement according to national accounting standards. Particularly:
- tangible, intangibile, financial assets
- current and deferred taxes
- loans, receivable and financial assets
Management commentary
Notes to financial statement
Non financial information
Analysis of some financial statements of real companies
Full programme
Legislation and accounting standards for financial statement
Tables of the financial statement
The single voices of the inancial statement according to national accounting standards. Particularly:
- tangible, intangibile, financial assets
- current and deferred taxes
- loans, receivable and financial assets
- risk provisions
Management
commentary
Notes to financial statement
Non financial information
Analysis of some financial statements of real companies
Bibliography
1. PRINCIPI CONTABILI NAZIONALI DELL'ORGANISMO ITALIANO DI CONTABILITA' (www.fondazioneoic.it).
In particular OIC 9 OIC 10 OIC 11 OIC 12 OIC 15 OIC 16 OIC 17 (da fare solo la sezione sul Metodo del Patrimonio netto) OIC 19 OIC 20 OIC 21 OIC 24 OIC 25 OIC 32
2. SLIDES available on ELLY
3. For management commentary: http://www.irdcec.it/cat/3/80 i seguenti documenti:
Documento n.1 - La relazione sulla gestione. Alcune considerazioni. (2008)
Documento n. 22 - L’iscrizione degli indicatori nella relazione sulla gestione La posizione finanziaria netta. (2013)
4. For DNF “Disclosure di sostenibilità: decreto legislativo n. 254/2016 sulla comunicazione di informazioni di
carattere non finanziario e sulla diversità – febbraio 2017”
Dal sito https://www.fondazionenazionalecommercialisti.it
Teaching methods
Acquisition of knowledge: frontal lessons
Acquisition of capability in applying knowledge: exercitations
Acquisition of autonomy in judgment: during the course the students will be stimulated to individuate critical aspects in financial statements
Acquisition of technical language: during the course will be illustrated the main accounting words
Assessment methods and criteria
The evaluation of learning takes place with a written practical test consisting of an exercise (weight 12 points) and an oral test that consists of two open questions (one question 12 points, the second 6 points). The practical test has a duration of 25 minutes. The whole test will take place in presence, or through the Teams platform if there will be a worsening of the pandemic situation.
The overall test is graded on a 0-30 scale. Honors will be awarded to those students who, in addition to having met the requirements necessary to obtain the full evaluation (maximum score obtained in the written and oral test), in the conduct of the test have demonstrated an appreciable systematic knowledge of the subject, an excellent ability to apply the knowledge acquired to the specific problem in question, a significant autonomy of judgment.
The students have the opportunity to integrate the grade of the exam with a project work, to be carried out in groups of 2 people, on a real case. The teacher, during the first month of class, forms the groups and assigns the business cases to be analyzed. In particular, each group is assigned a real budget to analyze on the basis of the information provided by the teacher in the classroom and reported in a vademecum for project work uploaded on the portal Elly. Participants in the project work must submit their work to the teacher by the deadlines indicated in the vademecum and present the results of their work in the classroom at the end of the course. Once the presentations have been completed, the teacher corrects the papers and publishes on Elly the overall assessment of the work, which involves the assignment of 0, 1, 2 or 3 points (depending on the results obtained) to be added to the final assessment obtained by taking the final exam. In case of exceeding 30/30 from the sum of the marks of the group work and of the single marks on the written test, the honour is assigned only in cases where the written test has achieved a mark of 30/30.
More in detail, we point out that the ability to apply the knowledge will be assessed with n.1 exercise related to the application part (the exercises concern only the calculation of taxes) of the program and with the results of the group work. A calculator can be used to carry out the exercise.
Autonomy of judgement and learning ability will be assessed through open questions, in which the student must demonstrate the ability to summarize together with critical insights, as well as through the evaluation of the group work, where the student is asked to provide a critical opinion in particular on the completeness and intelligibility of the financial statement information.
The ability to communicate with appropriate technical language will be assessed through open questions, in which particular attention is also paid to the correct use of technical terms.
The final results of the exam are published on Esse3.
There are no intermediate tests.
Other information
The detailed program with the times and days of the lessons, a further summary of the teaching materials and a draft simulation of the practical part of the exam will be made available on the ELLY page of the course, to which we recommend constant reference.
