FINANCIAL ACCOUNTING (BASIC)

Single discipline educational activity

Course Sheet

Course code:

COBI12

Academic Year of enrolment:

2020

Year of supply:

2021/2022

Type of Course:

Characterising

Degree:

Course of 1st Cycle Degree in MANAGEMENT AND ECONOMICS

Disciplinary Sector:

Business Administration

Language:

Italian

Location:

PESCARA

Divisions:

Cognomi A-D - Professor: VERNA Ida
Cognomi E-Z - Professor: DI BERARDINO DANIELA

Credits:

Programme Year:

Cycle:

First semester

Hours of classroom activity:

Individual study hours:

153

Prerequisites:

Although no prerequisites are required, knowledge of the basic concepts of business administration is recommended, especially about the following topics: economic and financial measures, income and equity, the measurement system for interpreting the business event.

Objectives

The teaching activity pursues the general objective of the course of study to provide knowledge and skills regarding the accounting and administrative function of private companies operating in different sectors.
Through the study of accounting principles and techniques, the course aims to transmit the theoretical and applicative bases of the accounting entry of company operations, the functioning of the general accounting and the preparation of the financial statements, in order to promote the correct reading and interpretation of the accounting documents supporting the company decision-making process.
EXPECTED LEARNING OUTCOMES
At the end of the course the student must acquire knowledge and skills about the functioning of the general accounting, how to prepare the financial statements and how read the accounting documents. The main objective is to contribute to the training of a professional figure in charge of accounting and administrative-financial management of private companies, both as an internal profile and as a consultant. The course proposes to transmit the following skills and knowledge:
Knowledge and understanding:
- understand the principles of double-entry accounting;
- understand the operating logic of financial and economic accounts;
- understand the business events and describe them according to the accounting language;
- understand the functioning and architecture of the general accounting;
- understand the criteria for designing an accounting system;
- understand the structure of accounting models and the theoretical, regulatory and technical principles;
KNOWLEDGE AND CAPACITIES
- Recognize and apply double-entry rules to record transactions;
- Record transactions, using double entry method, related to procurement, sales, credits, debts, tax and other operations of the general ledger.
- Adjusting entries and reverse entries
- Calculate the net income and the stockholders’ equity
- Prepare the balance sheet and the income statement

MAKING JUDGEMENTS:
- to associate the business events (eg. sending products to customers) of companies operating in different sectors (industry and services) to the accounts (eg. revenues, credits, money ...);
- linking the financial and economic aspects of transactions and the relationships between income statement and balance sheet;
- to interpret the theoretical principles, law rules and accounting standards through accounts and records;
- to evaluate the company performance;
- to discuss and explain fundamental aspects of financial accounting and bookkeeping, linking them to other learning outcomes.

COMMUNICATION SKILLS
- use the technical-accounting language;
LEARNING ATTITUDE
- Carries out individual and group research on specific aspects of the discipline;
- compare the individual skills with the practices (tools used: professional textbooks, RATIO journal for professional updates)

Contents

Accounting information system and bookkeeping
How to interpret and Recording transactions
Accounting models: account, double entry method, the journal entries system
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
Case studies and exercises

Extended Syllabus

Accounting information and bookkeeping
Interpretation system of business operations
Accounting models: account, double entry method, the system of accounting entry
The general ledger accounts:
- The constitution: individual firm, corporation, public company
- ongoing entries: VAT, procurement, sales, costs and revenues, credits and debits, payroll accounting;
- The equity changes and the loans: discount of bills, mortgages, bank advances, bonds;
- Taxes;
- adjusting entries and trial balance
The financial statements: accounting standards, legislation, contents, procedures

Recommended Bibliography

G. PAOLONE, F. DE LUCA, Le rilevazioni sistematiche di contabilità generale, Franco Angeli,2010

G. PAOLONE, F. De Luca, Il bilancio di esercizio nella teorica evolutiva e nei principi applicativi, Franco Angeli, Milano, 2019

Other supporting material provided by teacher in the e-learning platform

Methods of Provision

Conventional

Teaching Methods

The course includes 72 hours of lessons divided into 3 weekly lessons of 2 hours and will be organized in modules of frontal lessons, exercises, analysis of case studies, unless otherwise instructions due to Coronavirus emergency. 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, unless otherwise instructions due to Coronavirus emergency. 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 text affects 70% of the finale score.
If the written test will be avoided, considering the COVID-19 protocols, there will be an oral exam.
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.

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

Aree