Archivio mensile:giugno 2011

International GAAP – 9 CFU

Pubblicato il da

Prof. Donatella Busso (6 CFU – 42 hours) + Visiting Professor (3 CFU – 21 hours)

The main purpose of this course is to analyze some International Financial Reporting Standards (IAS/IFRS) and to understand the main differences with the US GAAP. These standards are used by European companies for the presentation of consolidated financial statements and, in some countries, for the presentation of separated financial statements. Working knowledge of financial accounting and financial statements at the level of three-year undergraduate courses is required.

Programs

The course will cover the following topics:

-       evolution of the European rules related to consolidated and separated financial statements;

-       role of IAS/IFRS in European rules: EU regulations and local law;

-       financial Instruments prepared according to IAS/IFRS;

  • Presentation of Financial instruments (IAS 32)
  • Initial recognition and measurement of financial instruments (IAS 39)
  • Subsequent measurement of financial instruments (IAS 39)
  • Derecognition of financial instruments (IAS 39)
  • Difference between financial assets/liabilities and equity instruments (IAS 32)
  • Hedge accounting (IAS 39)
  • Disclosures about financial instruments (IFRS 7)

-       evolution of IAS/IFRS:

  • Financial instruments (IFRS 9)
  • Fair value measurement (IFRS 13)
  • Leasing and Revenue recognition: the new standards

-       the main differences with the US GAAP.

 

Learning objectives  

Knowledge and understanding.

The course will provide students with an advanced knowledge of IAS/IFRS.

 Applying knowledge and understanding.

Students will learn to apply IAS/IFRS to financial accounting problems and to read critically financial statements presented by European listed companies.

 Making judgements.

The students will learn how to assess the validity of different accounting solutions.

Communication skills.

Students will learn how to effectively organize ideas both in written and oral form,  with the presentation of an assignment.

Learning skills.

This course will enable students to understand the recent developments in financial reports and will be a suitable basis for further work in the area.

The exam consists in:

- a written test with open questions;

- an individual or group case assignment, related to an analysis of a financial statement prepared by an European listed company (further details regarding the assignment will be communicated at the beginning of the course and published on Klips).

The final mark is the average between the mark achieved in the written test and the assignment mark.

Textbook : Exercices, cases, slides and other material are available on www.klips.it

Consolidated Financial Statement – 9 CFU

Pubblicato il da
Prof. Maurizio Cisi (http://web.econ.unito.it/cisi/)
 

 

Learning outcomes
 
The course intends to deepen the knowledge of consolidated financial statement of groups under the International Accounting Standards (IAS-IFRS).

 Course contents

Presentation of consolidated financial statements
Scope of consolidated financial statements
Identifying control

Advanced Issues in the Preparation of Consolidated Financial Statements:

  • Consolidation requirements and procedures
  • Treatment of minority interests
  • Potential voting rights
  • Reporting dates (coterminous and non-coterminous)

Investments in Associates (Determining “significant influence”)

Application of the equity method of accounting

Parties in joint ventures (Determining joint control)

Identification and accounting for each type of joint venture

Increases and decreases of interests in subsidiaries without change of control:

  • Acquisition in stages
  • Disposal of subsidiaries
  • Consolidating subsidiaries held for sale

Consolidating a foreign operations

Accounting for subsidiaries, associates and jointly controlled entities in the separate financial statements

Teaching methods
 

Lectures, exercises, case studies and real cases analysis
The more advanced aspects of the preparation of consolidated financial statements will be examined by using extensive case studies to help students to gain a sound understanding of the techniques and methodologies for complex consolidation practices.
The course examines current documents issued by IASB in the area of group financial statements (IFRS 10, IFRS 11, IFRS 12, IAS 27, IAS 28)

Assessment methods
 

Written examination (oral examination is mandatory for final grade > 27)
 

Teaching tools
 

Slides, professor’s notes and exercises with solutions will be available on www.klips.it .

Language of instruction 

 
English
 

Text-book
 

To be defined