Student guide Facoltą di Economia A.A. 2008/09

International Financial Reporting
Aim of the course
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 principles (IAS/IFRS) starting from 2005, leaving to each member State the decision to allow or prescribe the adoption of the international accounting principles also for the Financial Statements of listed companies and for the Financial Statements and Consolidated Financial Statements of non listed companies.
The Italian ruler, with the Legislative Decree n. 38/2005, showed his will to extend the use of IAS/IFRS, which, for instance, will become mandatory also for the Financial Statements of listed companies starting from financial periods closed or running during 2006.
This course aims 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, through theoretical lessons, cases and practical exercises. The theme of the transition to the new system of accounting principles will also be treated.

-         IAS/IFRS: authority in charge of their approval and regulations framework
-          Framework
-          Consolidation area and investments. Business combinations
-          Property, plant and equipment
-          Intangible assets
-          Inventory and revenue recognition
-          Income taxes
-          Financial Statements according to IAS/IFRS. General principles and currency definition
-          Financial instruments and their assessment
-          Provisions and potential liabilities
-          Employee benefits and Italian “TFR”
-          Financial assets and liabilities
-          Error correction, assessment changes and changes in accounting principles
-          Segment reporting and additional information required within Financial Statements
-          IAS/IFRS first-time adoption

Written exam at the end of the course (eventually interim written exam).

Reading list
- Barry J. Epstein, Abbas Ali Mirza, Wiley IFRS 2006: Interpretation and Application of International Financial Reporting Standards, 2006.
- M. Comoli,  F. Corno, A. Viganò (edited by), Il bilancio secondo gli IAS, Giuffrè, Milano, 2006.
- P. Tettamanzi (edited by), Principi contabili internazionali. L’adozione degli IAS/IFRS in Italia. Una ricerca empirica, Pearson Education, 2008.
- Teaching material, put online in relation to each session.