Argomenti dell'insegnamento
The course consists of three integrated parts: Part I - Understanding the business environment and financial reporting quality. We need to understand the business environment: Macroeconomic, Industry and Firm's Strategy. Part II - Framework to uncover a company’s value- creation activities A) Introduction – Earnings Quality & Financial Statement Analysis - Business Activities and Articulation of Financial Statements - Earnings vs ¿Cash and concept of accrual accounting - Overview of Earnings Quality and Earnings Management - How accounting choices help/hinder our understanding of the business B) Review of Financial Statements - Review of line items from Core Introductory accounting and their earnings quality issues and common abuses - Overview of other line items to be covered in Part II C) Reformulation of Financial Statements - Why the need to reformulate statement? - Implementation issues when reformulating statements - Profitability Analysis - Other ratio analysis (growth prospects and risk) - Profitability analysis for a specific company Part II - Adjusting and assessing specific line items A) Revenue and Accounts Receivables - When/what/how much to recognize - Percentage of Completion - Financial Statements for Construction Companies - Multiple Element Revenue Arrangements - Quality of Reported Revenue - Gross vs Net Revenue - Accounts Receivables & Accounts Receivable Factoring - Change in Accounting Estimate vs Accounting Principle B) Operating Capacity - Capitalize vs Expense - Inventory for Manufacturing Companies - Converting LIFO to FIFO - Property, Plant and Equipment - Asset Impairment - Intangible Assets - Goodwill Impairment - Capitalizing R&D - Quality of Reported PP&E and Depreciation C) Fixed Claims - Investments in Debt Securities - Leases (lessee’s perspective) - Converting Operating Leases into Capital Leases D) Estimated Claims - Income Taxes - Permanent vs Temporary Difference - Deferred Tax Assets/Deferred Tax Liabilities - ETR vs Statutory Tax rate - Valuation Allowance - Pensions, Stock Compensation, and Other Employee Benefits - Equity Method Investment - Consolidation

Modalità di insegnamento
The course will combine in-class explanation, problem- solving and case discussion. Students are expected to participate actively in class.

Obiettivi formativi
ILO (Intended Learning Outcomes) ILO 1 - Knowledge and Understanding: ILO 1.1 della comunicazione economico-finanziaria agli stakeholders in ambito nazionale ed internazionale ILO 1.2 dei modelli economico-aziendali e della misurazione della performance per la programmazione e il controllo di gestione dei modelli e metodi di revisione contabile interna ed esterna ILO 1.3 i corsi di Accounting permetteranno altresì di acquisire competenze in tematiche specialistiche che caratterizzano la professione di dottore commercialista e revisore contabile ILO 2 Applying knowledge and understanding: ILO 2.1 per sviluppare ed integrare i risultati della comunicazione economico-finanziaria nei modelli di decisione aziendale ILO 2.2 per la progettazione e la gestione di ristrutturazioni aziendali e altre operazioni straordinarie ILO 3 Making judgments: ILO 3.1 capacità di applicare le conoscenze acquisite per prendere decisioni direzionali e operative e per risolvere problemi di amministrazione e finanza delle aziende, degli intermediari e dei mercati finanziari, tenendo in considerazione congiuntamente molteplici prospettive di analisi, da quella economica a quella giuridica, finanziaria, strategica, gestionale. ILO 3.2 capacità di selezionare dati e utilizzare le informazioni appropriate per descrivere un problema che attiene alla gestione delle aziende, degli intermediari e dei mercati finanziari ILO 4 Communication Skills: ILO 4 Capacità di comunicare efficacemente in forma orale e scritta i contenuti specialistici delle singole discipline, utilizzando registri diversi a seconda dei destinatari e degli scopi comunicativi e didattici, e di valutare gli effetti formativi della sua comunicazione ILO 5 Learning Skills: ILO 5.1 capacità di elaborare modelli generali, a partire dai fenomeni studiati

Modalità d'esame
Non-attending student: Written exams + Financial Statement Analysis of an unlisted firms of the BZ province with Revenue higher than 10 million EURO Attending students: Midterm and Final written exam, Assignments, Group Project ILOs 1-5 assessed

Criteri di valutazione
Not Attending Students Not attending students are evaluated through: 1) Written exam (80%) that covers the following textbook Chapters: 1, 2, 8, 9, 10, 11, 12, 18, 20 2) Assignment (20%) Financial Statement Analysis of an unlisted firms of the BZ province with Revenue higher than 10 million EURO to be submitted by the day before the exam date Attending Students Midterm 15 or 25%, Final 35 or 45%, Group Assignments 30%, Professionalism 10%. Your total grade will weigh the final exam more heavily if you do better on the final than on the midterm exam. That is, your final score in the class will be determined using the following formula: Final score = 0.30 × (score group assig.) + 0.10 × (score professionalism) + Max {0.15 × midterm exam score + 0.45 × final exam score, 0.25 × midterm exam score + 0.35 × final exam score}