Course Topics
• The role of accounting in business, • Recording business transactions, • The adjusting and closing process, • Merchandising operations, • Receivables, Fixed assets, • Investments, • Liabilities, Equity, • Statement of cash flows, • Financial statement analysis and interpretation.

Teaching format
The course combines short lectures with guided problem-solving, practical exercises, and selected case discussions. Students are expected to prepare the assigned readings and exercises before class. Classroom time focuses on applying core concepts, practising bookkeeping procedures, and interpreting financial information in realistic business situations, including examples from tourism, hospitality, and event management.

Educational objectives
ILO (Intended Learning Outcomes) ILO 1 - Knowledge and understanding ILO 1.1 The accounting system, with particular emphasis on the international context, and the double-entry accounting method ILO 1.2 The business management system ILO 1.3 The preparation of annual financial statements ILO 1.4 Tools for analysing company financial statements ILO 1.5 Economic and financial indicators ILO 2 - Ability to apply knowledge and understanding ILO 2.1 Financial, economic and asset indicators for business decisions ILO 2.2 Preparation of analytical reports on the financial, economic and asset performance of the company with a particular focus on the service sector ILO 2.3 Analysis of business, financial and asset processes in the tourism, events and sports industry ILO 2.4 Accounting principles for companies operating in different business areas ILO 2.5 Basic concepts useful for attending courses in economics, business administration and management ILO 3 - Making judgements ILO 3.1 Reporting analytically and critically on information, empirical values and data in order to make adequate business decisions ILO 4 - Communication skills ILO 4.1 Achievement of this objective is assessed by means of written examinations, group work, assignments, presentation of case studies and projects, and the final thesis ILO 5 - Learning skills ILO 5.1 The ability to analyse, critically evaluate and integrate data, information and experience ILO 5.2 The ability to develop possible solutions to problems in economic and business areas that relate to those work contexts that represent potential career prospects for graduates

Additional educational objectives and learning outcomes
At the end of this course, the students should be able to prepare a set of financial statements representing the results of typical business operations, to evaluate the performance of a firm from its financial reports, and to use financial information in management decisions.

Assessment
Final written exam (closed-book) on the entire material covered in the course, identical for all students regardless of attendance status. The exam includes numerical exercises, short open questions and interpretation of financial statements in order to verify knowledge and understanding, application of concepts, judgement skills, communication and learning skills. All Intended Learning Outcomes are assessed through the final written exam (ILO 1, 2, 3, 4, 5).

Evaluation criteria
• relevance, clarity, accuracy of answers; • clarity of presentation; • ability to apply methods (i.e. double-entry bookkeeping); • ability to compare, evaluate and contrast models (i.e. different methods of recognition and measurement); • ability to compare, evaluate and contrast data (i.e. financial statements).

Required readings

Weygandt, J.J., P.D Kimmel and D.E. Kieso, Financial Accounting, IFRS Edition, 5th edition, Wiley, 2022. ISBN: 978-1-119-78700-6 (e-book) or 978-1-119-78705-1 (hardcover).

Supplementary readings

none

Further information
none