The course is designed to introduce students to Financial Accounting. The focus is on both financial accounting and financial statements. The course is intended to provide the students with a pragmatic approach by practice and exercises in order to develop skills on accounting records, annual report and financial reporting.
The learning objectives of the course are as follows.
Knowledge and ability to understand. At the end of the course, students must be able:
- to know the models, processes and tools typical of financial accounting;
- to know the financial statements;
- to understand the links between general accounting and financial statements.
Ability to apply knowledge and understanding. At the end of the course, students will be able:
- to draw up the accounting records relating to the various company operations;
- to draw up the financial statements;
- to read the financial statements.
Autonomy of judgment. At the end of the course, students will be able:
- to propose and formulate original evaluations of economic and financial values;
- to propose and formulate original judgments for the "continuous" control of financial and economic movements at the overall company level.
Communication skills. At the end of the course, students must be able to respond in a clear, cogent and exhaustive manner to the questions of the written test and to those of the oral exam. Through the exercises, students will also develop the ability to build up a presentation and to present reports on the analysis of company dynamics and financial statements.
Learning ability. At the end of the course, students must be able to update and deepen independently the topics and specific normative and regulatory sources of financial accounting.
Financial accounting goals. Double-entry book-keeping. Accounting rules. Accounting systems. Accounting records and processes. The role of financial statements. The accounting of firm activities. Adjusting entries. Closing entries. Financial statement preparation. Opening entries. Financial statement rules. Financial statement aims. Financial statement assumptions. Financial statements features.
The course is divided into 5 sections, although a precise schedule is difficult because dependent on the class.
A possible division is the following:
Section 1 (14 hours): Financial accounting goals and tools.
Section II (6 hours): The financial statement as general accounting synthesis.
Section III (35 hours): The accounting of firm activities.
Section IV (7 hours): The links between general accounting and financial statement.
Section V (10 hours): Introduction to the financial statement and the accounting standards.
Lectures, tutorials and exercises.
Marchi L. (2017), Contabilità d’impresa e valori di bilancio, Giappichelli, Torino.
Quagli A. (2017), Bilancio di esercizio e principi contabili, Giappichelli, Torino.
Capurro R. (2018), Riflessioni ed applicazioni di contabilità e bilancio, Franco Angeli, Milano.
Slides with additional material are available on e-learning portal.
Additional suggested readings will be provided during the course.
The assessment of expected learning outcomes will take place in several ways and at different times. Specifically, learning outcomes will be verified in itinere through training tests based on: Tests aimed at knowledge assessment; Exercises, aimed at skills assessment. At the end of the course the expected learning outcomes will be verified by a preliminary written test consisting of questions and exercises. Based on the results of written test, students will be assessed by an oral exam