A85677 International Financial Reporting

At the end of the course the student will be able:

• read and interpret Financial Statements of companies applying international accounting standards;
• identify and judge the impact on the companies’ accounts of alternative accounting methods.

At the end of the course the student will be able:

• read and interpret Financial Statements of companies applying international accounting standards;
• identify and judge the impact on the companies’ accounts of alternative accounting methods.

EEC regulation n. 1606/2002 of July 19, 2002 forces all the listed companies within the European Community to issue their Consolidated Financial Statements according to the international accounting standards (IAS/IFRS).

The Italian ruler, with the Legislative Decree n. 38/2005, showed his will to extend the use of IAS/IFRS, which have become mandatory also for the Financial Statements of listed companies starting from financial periods closed or running during 2006.

The aim of this course is to teach the general principles of IAS/IFRS, the structure of Financial Statements compliant with IAS/IFRS and the recognition and assessment rules provided by the new accounting principles for the key assets.

The issues related to the transition to the new system of accounting principles will also be treated.

The course is made of theoretical lessons, cases and practical exercises.

Lectures are held throughout the entire semester. Students are responsible for learning the material before coming to class.

You are responsible for consulting on a regular basis the website of the course on “my.liuc.it” where updates, additional material, slides and exercises about the course are posted.

   We reccomend to do the midterm test.

The assessment is based on a written exam at the end of the course. To pass the exam the student needs to achieve a grade higher than 18/30.

For attending students only, the exam is made of two written tests (mid-term test plus final test). Sufficiency in both tests is required to pass the exam (sufficiency = grade higher than 18/30).