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FINANCIAL ACCOUNTING (BASIC) Course Sheet Academic Year of enrolment:
Professor and Collaborators:
Hours of classroom activity:
Prerequisites:
Although no prerequisites are required, knowledge of the basic concepts of business administration is recommended, with particular reference to the following topics: economic and financial measures, income and equity, the measurement system for interpreting the business event.
Objectives
Contents Accounting information and bookkeping
Interpretation system of business operations
Accounting models: account, double entry method, the system of accounting entry
General accounting records: initial, ongoing, final, trial balance
The financial statement: theoretical principles, law rules and accounting standards, the process of formation and publication
Contents and structure of income statement and balance sheet
Extended Syllabus Accounting information and bookkeping
Interpretation system of business operations
Accounting models: account, double entry method, the system of accounting entry
The general accounting entries:
- The constitution: individual firm, joint-stock companies, personnel company
- ongoing entries: VAT, purchases and sales;
- The equity changes and the loans: discount of bills, mortgages, bank advances, bonds;
- Taxes on business income;
- Final closing entries and trial balance: settlement of accounts, epilogue entries and closure;
The financial statements of joint-stock companies:
- Civil law and national and international accounting standards,
- The structure and content of the financial statements;
- The procedure for drafting and publishing the financial statements.
Recommended Bibliography G. PAOLONE, F. De Luca, Il bilancio di esercizio nella teorica evolutiva e nei principi applicativi, Franco Angeli, Milano, in stampa
G. PAOLONE, F. DE LUCA, Le rilevazioni sistematiche di contabilità generale, Franco Angeli,2010
Lombardi Stocchetti G. (a cura di), Basic Financial Accounting. Rilevazioni e analisi di bilancio, Guerini Next, Milano, 2017
PAOLONE G., D’AMICO (a cura di), La ragioneria, Giappichelli, Torino, 2018.
Other supporting material provided by teacher in the e-learning platform
Teaching Methods The course includes 72 hours of lessons divided into 4 weekly lessons of 2 hours and will be organized in modules of frontal lessons, exercises, analysis of case studies. During the course some individual tests will be submitted. This assessment is structured in exercises aimed at verifying the understanding of the topics covered. The exercises will be carried out both in the classroom and at through the e-learning platform. Course attendance is optional.
Evaluation methods Verification of learning:
The assessment of the knowledge and skills described in the Expected Learning Outcomes Section will take place with a written exam and a subsequent oral exam. The written test consists of exercises concerning the continuous accounting entries of a typical company, the final entries for the year and the subsequent preparation of the income statement and balance sheet. The written test lasts 2 hours and is followed by an oral examination on the remaining topics of the program not verified in the written.
The final score is expressed in thirtieths. The method of examining non-attending students is the same as for attending students.
Contacts/More Information Erasmus students must contact the teacher for their teaching material.