OVERVIEW

Today the International Financial Reporting Standards (IAS/IFRS) issued by the IASB are the international language of financial reporting. Their knowledge is necessary for every administrative tasks in the current businesses.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims at providing the framework for the preparation of financial statements according to the IFRS/IAS.

PREREQUISITES

It is necessary a good knowledge of Financal Accounting (intermediate level)

TEACHING METHODS

Frontal lessons, class discussion, case analyses, individual tasks.

Students who have valid certification of physical or learning disabilities  and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Professor Serena Scotto (scotto@economia.unige.it<mailto:scotto@economia.unige.it>), the Department’s disability liaison.

SYLLABUS/CONTENT

• The IASB: structure and activity. The IFRS within EU.
• Conceptual framework, fair value (IFRS 13)
• Presentation of financial statements (IAS 1, IAS 8, IAS 10, IAS 24, IFRS 1, IFRS 8)
• Revenues from contracts with customers (IFRS 15), Governmental grants (IAS 20), Inventory (IAS 2)
• Fixed assets (IAS 16, 17, 23, 36, 38, 40, IFRS 5, IFRS 16)
• Financial Instruments (IAS 32, IFRS 7, IFRS 9)
• Investments in associates, joint ventures and other entities (IAS 27, IAS 28, IFRS 10, 11, 12)
• Business combinations (IFRS 3)
• Provisions, income taxes, and foreign currencies (IAS 37, IAS 12, IAS 21)

RECOMMENDED READING/BIBLIOGRAPHY

Lessons and basic materials are in Italian but foreign students could use for their preparation the following book:

TEACHERS AND EXAM BOARD

Exam Board

ALBERTO QUAGLI (President)

FRANCESCO GIOVANNI AVALLONE

PAOLA RAMASSA

LESSONS

LESSONS START

The course is in the first semester, and it will start according to the general teaching plan of the Departiment of Economics.

Class schedule

INTERNATIONAL ACCOUNTING

EXAMS

EXAM DESCRIPTION

The first part is a written assesment including three or four accounting questions for their translations in double-entry records according to IFRS.

After the positive result of the first part, there is an oral exam aimed at demonstrating the ablity of the student to interpret the IFRS applied to a single annual report fo a public listed company

ASSESSMENT METHODS

The students' ablility to create links between the question of the real world to be tackled and the knowlegde pf IFRS will be a distintive point to assess the level of knowledge

Exam schedule

FURTHER INFORMATION