Course Topics
This course provides the fundamental tools to read, interpret, and analyze financial statements for decision-making purposes. Students will learn to evaluate financial performance, assess earnings quality, and create basic forecasts. The focus is on profitability, financial structure, earnings analysis, and stakeholder communication. Main topics include: Margin and ratio analysis Cash flow statement interpretation Reclassification of financial statements Earnings quality and earnings management Historical and prospective analysis Industry and time-based comparisons

Teaching format
The course combines: Lectures Case discussions In-class exercises Guided readings Active participation is highly recommended and part of the assessment for attending students.

Educational objectives
ILO (Intended Learning Outcomes) ILO 1 – Knowledge and Understanding: ILO 1.1 Knowledge of economic-financial communication to stakeholders in national and international contexts ILO 1.2 Understanding of business models and performance measurement for planning and management control, as well as internal and external auditing methods and models ILO 1.3 Accounting courses will also provide expertise in specialised topics that characterise the profession of chartered accountant and auditor ILO 2 – Applying Knowledge and Understanding: ILO 2.1 Ability to develop and integrate the results of economic-financial communication into corporate decision-making models ILO 2.2 Ability to engage and interact competently with heads of the various functional areas of the company, with financial markets, and with professionals in corporate and tax law ILO 3 – Making Judgements: ILO 3.1 Ability to apply acquired knowledge to make managerial and operational decisions and to solve problems related to administration and finance in companies, intermediaries, and financial markets, while jointly considering multiple analytical perspectives, from economic to legal, financial, strategic, and managerial ILO 3.2 Ability to select data and use appropriate information to describe a problem concerning the management of companies, intermediaries, and financial markets ILO 3.3 Ability to relate models and empirical evidence in the study of companies, intermediaries, and financial markets ILO 4 – Communication Skills: ILO 4 Ability to communicate effectively, both orally and in writing, the specialised content of individual disciplines, using different registers depending on the audience and the communicative and educational purposes, and to assess the educational impact of such communication ILO 5 – Learning Skills: ILO 5.1 Ability to frame a new problem systematically and to generate appropriate taxonomies ILO 5.2 Ability to develop general models based on the phenomena studied

Additional educational objectives and learning outcomes
Knowledge: Understanding of the structure and content of financial statements Knowledge of core accounting ratios and analytical tools Familiarity with performance assessment methods Skills and judgment: Ability to reclassify and interpret financial statements Use of Excel to build analysis tools Critical analysis of financial health and business sustainability Communication and learning: Ability to write and present financial reports Group work on real-world cases Independent use of analytical frameworks

Assessment
Non-attending students: Final written exam (100%). Attending students: Midterm exam (30%) Final exam (70%) Final assessment details will be provided on the first day of class. ILOs assessed 1-5

Evaluation criteria
Technical accuracy Application of analysis methods Communication skills (written) Sound interpretation of financial data Individual contribution to group work

Required readings

Instructor-provided materials (slides, exercises, case studies)

Additional readings distributed in class

Excel models and teaching aids on OLE/Teams

Supplementary readings

F. Giunta, M. Pisani, L’analisi di bilancio, Apogeo – Maggioli Editore, edizione 2016

Further information
Students must register on OLE to access materials. Laptops are required for in-class exercises. Course language: Italian