FINANCIAL REPORTS OF THE SPORT ORGANIZATIONS
The course of “Financial Reports of the Sports Organizations” aims to make known to the student the information purposes, the structure and the contents of the documents that make up the financial statements of the sports organizations. To this end, the characteristics of these reports are analyzed on a general plan and with regard to professional football clubs and amateur sports societies and associations, also through business cases.
The expected learning outcomes are declinable according to the Dublin Descriptors, in the following points:
1) Knowledge and ability to understand. The course aims to make known to the student the formal and substantial aspects of the financial statements in consideration of the evolution of general and sport sector legislation;
2) Ability to apply knowledge and understanding. The study of the course topics will allow students to fully understand the contents of the financial statements of a sports company and collaborate in the construction of a financial statement based on current legislation;
3) Autonomy of judgment. The course improves the ability to interpret the economic, financial and equity values of the financial statements in order to formulate independent judgments on the health of any sports company. These skills are also developed through the analysis of business cases;
4) Communication skills. Students will acquire an appropriate language to describe the financial and asset situation and economic results that emerge from the analysis of the financial statements of any company in the sector. This will foster communication with the stakeholders of sports organizations, and in particular with regard to those with which economic and financial relationships exist;
5) Learning skills. The study of the course topics will allow students to understand the conditions of economy, the financial and asset situation of any sports club on the basis of the analysis of the data of its financial statements and a series of financial statements, appropriately selecting the necessary data and the most appropriate analysis methods.
The knowledge of the fundamental notions of business economics, acquired as a result of passing the examination of "Business Economics" of the three-year degree in "Movement Sciences", is required.
The course of "Financial reports of sports organizations" is structured in two parts.
In the first part, the object of the study is the model of the financial statements, with reference to which the following topics are analyzed:
- the nature and significance of the financial statement values;
- the evolution of the law (Italian civil code after Legislative Decree 139/2015, IAS / IFRS standards, accounting principles OIC);
- postulates and drafting principles;
- the structure and contents of the financial statement.
The second part of the course analyzes the financial statements of sports organizations, with reference to professional football clubs and amateur sports associations and companies.
In relation to these statements, the normative sources, the compulsory schemes, the characteristic items, the meaning of the values, the evaluation criteria and the related application problems are examined.
Evolution of the meaning and function of the financial statements
Analysis of the reference regulations of the financial statements
The system of financial statements documents
The general clause and the principles for the preparation of the financial statements
The Balance Sheet
The Income Statement
The Cash Flow Statement
The Explanatory Notes and the Management Discussion and Analysis
The financial statements in football clubs: general and sector regulations
The financial statements of the football clubs: the characteristic items of the financial statements
Analysis of balance sheets of professional and amateur sports clubs
The course consists of 48 hours of frontal teaching, including business case analysis, aimed at applying the knowledge acquired in class, and simulations of the exam tests.
VALERI M. (2008), Standard IAS/IFRS e nuove esigenze di disclosure nel bilancio delle società di calcio, G. Giappichelli Editore, Torino
Material by the teacher for the part related to the financial statements of sports organizations
The purpose of the exam is to verify the achievement of the previously indicated training objectives.
Learning is verified through:
- A written test divided into two parts: the first articulated in multiple-choice questions and open-ended questions on the topics of the program; the second contains an exercise related to the placement of data and information within the financial statements.
- A conclusive oral exam, optional, which deals with the whole program.
N.B. Passing the written test requires obtaining an evaluation of at least 18/30. Only students who have passed the written test can access the optional oral exam.
The program and the modalities of the final learning test are the same for those who attend and for those who do not attend lessons.