CdLM Business Administration

The course aims at analyzing IFRSs (International Financial Reporting Standards) i.e. international accounting standards used by many companies all over the world in preparing separate and consolidated financial statements. The knowledge of these standards is fundamental for the students who will be able to understand how IFRSs work, how transactions made by companies are depicted in financial statements and how investors read and interpret financial statements. Therefore, the students will be able to work for preparers, auditors and investors.

Students will be able to understand and gain knowledge about IFRSs. In order to obtain this goal, traditional teaching methods (lessons, exercises and cases about IFRSs) are utilized together with group or individual assignments about how to draw up and how to understand IFRS financial statements.
Students will be able to find solutions to the different accounting problems. In order to achieve this goal, a problem solving approach is utilized. For example, students are asked to  identify the right IFRS to be used in different complex situations.
Students will be able to gain consistent knowledge in order to give personal and critical opinions. In order to achieve this goal a complex learning approach is utilized and students are asked to have a personal involvement and a critical approach to manage complex situations.
Ability to handle and communicate useful information related to IFRSs is obtained thanks to written and oral assignments.
At the end of the course, students will have acquired the methodology to be able to interpret new accounting standards independently.

The course is articulated in 35 hours of formal in‐class lecture time. During the in-class lecture time, we analyze the IFRSs, discuss cases and solve exercises. Moreover, students can use some questionnaires to verify their learning. There will be some seminars held by some experts. Moreover, at the beginning of the course, a consolidated financial statements is assigned to the students: they have to analize it and to orally discuss IFRS application.

The exam consists of:
-  A written examination on the topics dealt with during the course (maximum grade 30, weighted for 75%). The written examination is composed of some parts of financial statements to be commented and exercises where students are asked to critically apply IFRS.  The duration of the written examination is 2 hours maximum;

-  An individual or group assignment on the interpretation of IFRS financial statements. The output consists of a powerpoint presentation to be presented orally (maximum grade 30, weighted for 25%). The procedure regarding the assignment will be issued at the beginning of the course and set out on Moodle.

The final mark is the weighted average of the two marks.

Homework sets will be assigned, and their solution will be discussed in class and posted on Moodle. Forum and questionnaire online are used to support students

1. evolution of the European rules related to consolidated and separated financial statements
2. role of IAS/IFRS in European rules: EU regulations and local law
3. analysis of the most important IFRSs applicable to consolidated and separate financial statements of non financial companies: IAS 1, IAS 2, IAS 7, IAS 8, IAS 10, IAS 12, IAS 16, IAS 19 (summary), IAS 21, IAS 24, IAS 32 (summary), IAS 33  (summary), IAS 36, IAS 37, IAS 38, IAS 40, IFRS 2 (summary), IFRS 5, IFRS 7, IFRS 8, IFRS 9 (summary), IFRS 13, IFRS 15, IFRS 16
4. US GAAP: similarities and differences compared to IFRS 

Slides, exercises and cases available on Moodle.