FINANCIAL ACCOUNTING

Single discipline educational activity

Course Sheet

Course code:

000245L

Academic Year of enrolment:

2017

Year of supply:

2018/2019

Type of Course:

Characterising

Degree:

Course of 1st Cycle Degree in ECONOMICS AND COMMERCE

Disciplinary Sector:

Business Administration

Language:

Italian

Location:

PESCARA

Credits:

Programme Year:

Professor and Collaborators:

DE CRISTOFARO Tiziana

Cycle:

First semester

Hours of classroom activity:

Individual study hours:

153

Prerequisites:

Economia Aziendale examination

Objectives

(I) Module Summary
The Module studies Income and Equity according to a basic technical accounting perspective. More in detail, the discipline intends to develop the study of the company information system moving, on the one hand, from the analysis of the general accounting model widely adopted by Italian companies and introducing, on the other hand, to the main evaluation and representation processes leading to the financial statements preparation.
(II) KNOWLEDGE objectives - To Know:
a) the role of the discipline within the Accounting and Economic disciplines;
b) the modern meaning of the information subsystem;
c) the existence of multiple reporting procedures, including the general bookkeeping;
c) the account, the double-entry method and the consequences of applying the latter to the Amaduzzi’s system of interpretation;
d) logical steps and main groups of records in the General Accounting;
e) the representation of Income and Equity both in the bookkeeping and financial statements and the related measurement problems;
f) the financial statements regimes in force in Italy. More in detail, the Civil Code;
g) basic technical accounting language and concepts.
(III) KNOW-HOW objectives – To acquire the following abilities:
a) to exercise double-entry records related to single operations (simple skill);
b) to transfer the results of the bookkeeping to financial statement schedules (simple skill);
c) closing and reopening of general accounting accounts (complex skill);
d) Knowing how to circumscribe, for each operation, the data useful for accounting records (simple skill fostering autonomous judgements);
e) Being able to observe the consequences that each transaction will have, as of 31.12, in terms of closing entries, for the preparation of the final accounts (complex skill fostering autonomous judgements).
f) To show a mastery of the fundamental accounting concepts so as to enable the synthesis of suitable summaries to effectively describe the performance of the companies (communication skill);
g) to become familiar with the typical vocabulary of the discipline, especially as for categories widely used in accounting (Income statement, Balance sheet, financial statements, etc.) (communication skill);
h) to Know how to apply the double-entry method in accounting professional contexts (Learning ability).

(IV) TO BE – To develop:
- aptitude for concentration through the repeated exercise of complex skills (eg: annual bookkeeping aimed at the determination of income and equity);
- aptitude for flexibility through models’ relativity and standards (eg: more criteria for inventories evaluation, debts evaluated at nominal value or at the amortized cost).

(V) COMPETENCES - By achieving the above listed objectives, the Module pursues the following expertises:
- to interpret Income and Equity in a basic technical accounting perspective;
- to manage as a single process both the annual bookkeeping and the final drafting of the financial statements;
- to understand differences and relationships between bookkeeping and regulatory, both civil and fiscal.

Contents

Module I - Objectives, tools and methods of companies’ financial accounting
• Introduction to the company’s information system
• The information procedures
• The so called “General Bookkeeping” (CO.GE.) procedure: its system of interpretation (the Amaduzzi’s), tool (the account) and method (the double-entry)
• Chronological and systematic accounting records
• General Bookkeeping and its registers: Daybook and Ledger
Module II – Model and functioning of the CO.GE. procedure
• The COGE model: classes of recordings
• Constitution recordings
• Continuous recordings
• Closing recordings: settlement, final reclassification, epilogue and final
• Opening recordings: initial, reversal and initial reclassification
Module III – From bookkeeping to the Financial Statements
• Financial statements regulations in force in Italy
• Financial statements according to the Civil Code
• Statutory financial statements: Balance Sheet and
Income Statement
• Other reporting documents: outline
• Measurements for Financial statements

Extended Syllabus

•The company’s information system
• The companies’ information procedures
• The General Accounting (CO.GE.) procedure: system of facts’ interpretation, tool and method
• The double-entry method
• The COGE’s phases and related accounting tools
• Account bookkeeping: Daybook and Ledger
• The COGE model
• Constitution recordings: limited companies and other legal forms
• Continuous recordings: (1) purchases and sales on domestic and foreign markets and related adjustments; (2) acquisition, disposal and amortization of plants and equipments; (3) VAT; (4) Loans: mortgages and bond loans; (5) Equity: increases and decreases in Share Capital. purchase and cancellation of treasury shares, destination of profits and losses coverage;
(6) loans granted and purchase and sale of securities
• Continuous and closing recordings: income taxes
• Settlement recordings: matching determination and completion
• Closing recordings: final reclassification, epilogue and final
• Opening recordings: initial, reversal and initial reclassification
• The financial statements Italian regimes
• From the CO.GE. to the statutory financial statements
• Statutory financial statements: Balance Sheet and
Income Statement
• Insights on inventories valuation: LIFO and FIFO and CMP
• Use and presentation of provisions for risks and adjustments: exchange rate fluctuation funds and doubtful debt provisions

Recommended Bibliography

1) Ranalli F., Argomenti di Ragioneria, 2005, Aracne, Rome.
2) Giunta F. - Pisani M. (2017). Il bilancio, Apogeo, Milan – All sections of this textbook must to be studies, except the following chapters (however, their opening paragraph, labeled 'object and objectives', and the final summary must to be studied): 12, 13, 14, 15 (however, study § 15.4), 16 (however, study Figure 16.5) and 27.
3) De Cristofaro T. (2006). Contabilità generale e bilancio di esercizio. Logiche e applicazioni, LUE, Pescara.
We also recommend consulting the following text:
4) Capodaglio G., Semprini L. and Stoilova Dangarska V. (2016). Il nuovo bilancio d’esercizio, Apogeo Education. This textbook is particularly important because some accounting records in texts no 1 and 3 are draw up according to the previous discipline.
Consultation of the civil code is also recommended.

Methods of Provision

Conventional

Teaching Methods

Lectures and exercises held with the aid of both power point slides projector and traditional board

Evaluation methods

Verification of learning:

The examination consists of two phases: a written test and an eventual final oral examination. Both relate to all the program covered by the course. Further details will be provided in the classroom. However, two on-line bookings on the University website are always required under the following labels: partial test and oral examination.Please note that, in order to take the written test, it is necessary to pass the “Economia Aziendale” examination (with attached verbalization)

Contacts/More Information

Duration of the course: 72 hours E-mail: tiziana.decristofaro@unich.it
Reception: the teacher weekly receives students (except in August). Days and hours are communicated at the beginning of every week through the link “Avvisi” of the teacher’s personal page included in the website the of the Department of Economics - DEC (http: //www.dec.unich.it) and to the DEC’s doormen (+39 085 45083204)

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

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