Student guide Facoltą di Economia A.A. 2010/11

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, have become mandatory also for the Financial Statements of listed companies starting from 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.
-         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
-          Financial assets and liabilities
-          Segment reporting and additional information required within Financial Statements
The assessment is based on a written exam at the end of the course.
For attending students only, the exam is made of two written tests (midterm test plus final test).
Sufficiency in both tests is required to pass the exam.
Reading list
- Barry J. Epstein, Eva K. Jermakowicz, Wiley IFRS 2010: Interpretation and Application of International Financial Reporting Standards, 2010.
- M. Comoli,  F. Corno, A. Viganò (edited by), Il bilancio secondo gli IAS, Giuffrè, Milano, 2006.
- Teaching material on the Liuc Website.