Themen der Lehrveranstaltung
This course provides an introduction to the principles and practices of financial accounting. Students learn how to record business transactions in accordance with the double-entry system, apply the adjusting and closing process to ensure accurate period-end reporting, and account for the main components of financial statements. These include merchandising operations and inventory valuation methods, cash management and internal controls, recognition and measurement of receivables, acquisition and depreciation of fixed assets, treatment of current and long-term liabilities, equity transactions such as dividends and share issues, as well as the accounting for basic investments. The course also covers the preparation and interpretation of financial statements, including the statement of cash flows, and introduces basic tools for financial statement analysis. In addition, students gain initial exposure to sustainability accounting and ESG reporting concepts, linking financial and non-financial information in corporate reporting.

Unterrichtsform
This course is structured in Lectures and Tutorials. During the Lectures the learning objectives are approached from a conceptual point of view. The important matters of each topic are explained and discussed. Students are expected to familiarize with the literature related with the related Lecture. The Lectures will combine in-class explanation of the background material, problem-solving and case discussions. The Tutorials (Lab Hours) focus on developing skills to solve financial accounting exercises. The problem-solving competence of the students is stimulated and trained through working out numerical applications. Students are suggested to have read the assigned problems in advance and attempted to work out the solution before coming to a Tutorial. This allows for a more efficient use of class time to cover only the more complex issues and to apply the theoretical concepts to realistic situations. Both Lectures and Tutorials will be video-recorded to allow students to review the material at their own pace, catch up on missed sessions, and reinforce their understanding of key concepts.

Bildungsziele
Knowledge and understanding Area: quantitative methods for decision-making knowledge of basic and intermediate level mathematical tools for understanding and analysing economic mechanisms through theoretical models and empirical applications knowledge of the tools for static, dynamic, and comparative analysis of data on individuals, firms and economies knowledge and understanding of descriptive statistics, the fundamentals of probability theory and sample methods, standard distributions and their application to economic analysis as well as linear and non-linear regression understanding of parametric estimation and hypothesis testing Knowledge of computer tools necessary for reading and analysing economic data and models knowledge of the structure of computer networks, their main applications and security techniques as well as techniques for data collection, presentation and analysis using appropriate software knowledge of international accounting systems and the double-entry method for the recognition and measurement of business operations "understanding of financial statements " "in-depth knowledge of accounting data recognition or management control " Knowledge of the analysis method for estimating present values and discount factors for estimating the cost of capital and valuation of bonds and shares Knowledge of medium and long-term financial forecasting methodologies and sensitivity analysis with simulation under uncertainty to manage risks in corporate and international finance knowledge and understanding of the international financial environment, multinational risk defence techniques and competitive strategies adopted by global banks knowledge of the mechanisms underlying effective communication of quantitative topics in three languages: Italian, German and English Ability to apply knowledge and understanding " Area: quantitative methods for decision-making to be able to analyse (unconstrained) optimisation problems and mathematically interpret models of social and economic dynamics to formalise economic problems using mathematical models, to solve such problems and to interpret the results conceptually being able to analyse economic data using descriptive statics, parametric and non-parametric methods as well as linear and non-linear regression and interpret the results knowing how to apply international accounting standards to the various contexts of business reality knowing how to derive and interpret economic information taken from the web knowing how to use computers and computer networks to analyse large quantities of data in solving complex problems and to write theses and articles knowing how to evaluate fixed-income and equity financial instruments of companies listed on stock markets through the use of spreadsheet programs knowing how to analyse financial statements by means of balance sheet ratios and communicate the results in accordance with international professional standards knowing how to apply the main theories on capital, foreign exchange and commodity markets to actually observed data, including in an international context knowing how to set up and carry out an empirical project using econometric software and financial or economic databases knowing how to use techniques for evaluating the performance of financial investments and understanding the price formation mechanisms of risky financial assets and spot and forward interest rates knowing how to work with basic and intermediate level mathematical tools, and basic level statistics, to study the behaviour of economic actors, from a theoretical and empirical point of view knowing how to analyse economic datasets using spreadsheets or other suitable software knowing how to use computer tools for the analysis of economies being able to communicate the results of quantitative analyses prepared according to international professional standards in three languages: Italian, German and English Making judgment choose the most appropriate quantitative and qualitative analysis methods Learning skills find the information needed to keep up to date with the changing general and specialized context find information from databases, scientific literature, laws, and regulations as required in professional life

Bildungsziele und erwartete Lernergebnisse (zus. Informationen)
Knowledge and understanding: • Knowledge of international financial reporting standards (IFRS) and double entry bookkeeping for corporate external reporting. • Understanding of preparation and usage of financial statements for various business decisions. • Understanding of the rationale behind the preparation of a sustainability and ESG report. Ability to apply knowledge and understanding: • Ability to apply international accounting standards to several simple business situations. • Ability to interpret and analyse financial statements through fundamental ratio analysis. • Ability to identify the basic principles that guide the preparation of a sustainability and ESG report. Making judgments: • Ability to gather, analyse and interpret relevant financial data. • Assess the financial situation of a firm from an analysis of its financial statements. Communication skills: • Ability to communicate to both specialist and non-specialist audience ideas and solutions about simple business transactions and financial statements. Learning skills: • Ability to apply analytical competences and problem-solving skills autonomously.

Art der Prüfung
Optional Midterm (30%): multiple-choice, closed-book test. Participation is voluntary and open to students of all cohorts. Detailed instructions are provided at the beginning of the course. Final Exam (70%): closed-book exam with a combination of multiple-choice questions and open questions. For students who decide not to take the Midterm, the Final Exam counts 100%. The quizzes and problems included in the Optional Midterm and the Final Exam aim at assessing the acquisition of knowledge, understanding and ability to apply financial accounting concepts and tools. A practice exam is available at the beginning of the course.

Bewertungskriterien
For attending students: • Optional Midterm • Final Exam For non-attending students and recidivists from previous academic years: • Final Exam A student must pass the Final Exam to have a passing grade in the course. The grade of the Optional Midterm is valid for 1 academic year only and cannot be carried over beyond the academic year 2025/26.

Pflichtliteratur

Textbook:

Weygandt, Kimmel and Kieso, Financial Accounting with International Financial Reporting Standards, Wiley.

 

Students can choose between these two editions:

4th edition, 2018. ISBN: 978-1-119-50340-8

5th edition, 2022. ISBN: 978-1-119-78700-6

Instructions about the textbook edition used for the Tutorials are given at the beginning of the course. A detailed schedule with an outline of the textbook chapters required as exam material is provided at the beginning of the course.

Weiterführende Literatur

For each chapter, a selection of practice exercises and problems from the textbook are suggested to facilitate the learning process and the preparation for the exam. It is important that students work autonomously to solve these problems after each class to be able to understand the material of the next class. The solutions to these problems will be provided in OLE, together with the lecturers’ slides discussed in class and other additional readings, problems, and cases. 

Weitere Informationen
The course page in OLE is announced at the beginning of the course.