Degree course: 
Corso di Second cycle degree in ECONOMICS, FINANCE AND BUSINESS LAW
Academic year when starting the degree: 
Academic year in which the course will be held: 
Course type: 
Compulsory subjects, characteristic of the class
Second semester
Standard lectures hours: 
Detail of lecture’s hours: 
Lesson (40 hours)

Successful learning will be linked to an adequate knowledge of the basic principles used for the preparation of Financial Statements according to Italian Gaap

Final Examination: 
Voto Finale

The course is divided into two parts. The "Form A" deals with the logics and techniques for the preparation of consolidated financial statements; the topics in Form A are treated in a comparative way, with reference to the Italian accounting regulation (Legislative Decree 127/1991, articles from 25 to 43, and Accounting Standard n. 17, Consolidated Financial Statement, issued by the Organismo Italiano di Contabilità – OIC) and to the IAS/IFRS (in particular, IFRS 3 and IFRS 10).
The “Form B” deals with the preparation and the presentation of financial statements in accordance with International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) issued by the "International Accounting Standards Board” (IASB).
The main aim of Form A is to provide a comprehensive coverage of consolidated financial statements, prepared according to either Italian Gaap or International Financial Reporting Standards. The main aim of Form B is to help students in understanding and applying the International Financial Reporting Standards on the preparation of separate and consolidated accounts.

A1) Groups and Consolidated Financial Statements
Definitions of group
Classification of groups
The scope of consolidated financial statements
The representation of the group’s activity in the consolidated financial statements

A2) The concept of Control and the area of consolidation
Companies required to present consolidated financial statements
Companies that are permitted not to present consolidated financial statements
Subsidiaries that can be excluded from the area of consolidation

A2.1) The pre-consolidation procedures
Reporting date
Uniformity of accounting policies
The translation of foreign currency financial statements (in brief)

A2.2) The consolidation procedures
Offset of the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of each subsidiary
Measurement and presentation of “non controlling interests”
Elimination (or reinterpretation) of intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions among companies of the group
Elimination (deferral) of intragroup profit or losses resulting from intragroup transactions
Aggregation of the final adjusted values
The consolidation of a subsidiary in the reporting periods subsequent to the first year of consolidation

B1) The accounting harmonization within EU: the legal framework

B2) Scope of Financial Statements and basic assumptions
The scope of the IASB Conceptual Framework
The purpose of financial statements
Underlying assumption: going concern
Qualitative characteristics of financial information
The elements of financial statements (assets, liabilities, equity, income and expenses)
A complete set of financial statements:
-Structure, minimum content, criteria for classifying assets and liabilities in the Statement of Financial Position;
-Structure, minimum content, criteria for classifying the items of income and expenses in the Statement of Profit or Loss and Other Comprehensive Income;
-The Statement of Changes in Equity;
-The Statement of cash flows (notion of cash and cash equivalents; cash flows from operating activity, investment activity and financing activity);
-The Notes.

B3) Analysis of specific Ias/Ifrs relevant for manufacturing, commercial and services companies
Property, plant and equipment (IAS 16) and leases (IAS 17)
Investment property (IAS 40)
Intangible assets (IAS 38)
Impairment of assets (IAS 36)
Inventories (IAS 2)
Loans and receivables (IAS 39)

written examination

Form A:
Slides downloadable from the e-learning page of the course;
Legislative Decree 127/1991 (Articles from 25 to 43);
Italian Accounting Standard OIC 17, Bilancio Consolidato e Metodo del Patrimonio Netto (2014).
International Financial Reporting Standards relevant for consolidation (in particular IFRS 10 and IFRS 3)
Reference book:
Libero Mario Mari e Simone Terzani, Il bilancio consolidato. Un’analisi congiunta delle norme e dei principi contabili nazionali e internazionali, Giappichelli editore, 2015;
Form B:
Full text of Ias/Ifrs mentioned in the syllabus
Slides downloadable from the e-learning page of the course