LEARNING OBJECTIVES
In accordance with the learning objectives of Master Degree Program, “Mergers, acquisitions and other business combinations” course is intended to provide advanced knowledge and specialized skills about financial, managerial, legal, fiscal aspect of Mergers, Acquisitions, Corporate Spin-offs and Asset stripping, changing Legal Status, voluntary and forced winding-up.
This course, firstly, describes the main theories, principles, and methods concerning the estimate of the value companies. Then, it examines the different perspectives (financial , managerial, legal and fiscal) about the operations of Mergers, Acquisitions, and other business combinations, included voluntary and forced (judicial) winding-up.
At the end of this course students should be able to use and apply different methods for estimating the value of companies, also in relation to these operations, preparing and editing business valuation reports; to assist, support and lead to carry out the related operations of mergers, acquisitions and other business combinations undertaken by companies in terms of this issues: financial (included bookkeeping entries and preparing financial reporting, balance sheet, income statements), managerial, legal and fiscal. Therefore, the main purpose is to develop a professional figure (Certified Public Accountants and/or business consultant) with the task of, among others, preparing evaluations and reporting, providing technical advices, managing accounting processes, dealing with the different legal and fiscal issues concerning mergers, acquisitions and other business combinations. General objectives are then those of making acquired to students, knowledge and skills needed to:
Apply the main company valuation methods within the different operations (i.e., mergers, acquisitions, corporate spin-offs and asset stripping, changing legal status, voluntary and forced winding-up);
record the related transactions for each operation in chronological order in the general journal and in ledger;
recognize the guide principles for preparing periodic financial statements along with those specifically requested for the concerned operations;
read and understand the single rules (both legal and fiscal) which regulate each operation of merger, acquisition and other business combinations as well as winding-up.
In this respect, “Mergers, Acquisitions and other Business Combinations” course is intended to transfer the following knowledges and skills in terms of the specific objectives:
Knowledge and understanding
recognizing and applying the main principles and methods of company valuation within the different operations;
recording the transactions arising from the operations of mergers, acquisitions, other business combinations as well as winding-up both in general journal and ledger;
preparing periodic financial statement and those specifically requested for each undertaken operation;
recognizing regulatory conditions (both legal and fiscal) related to each operation.
Making judgments
examining in critical terms each operation of merger, acquisition, other business combinations and winding-up under the different perspectives (financial, managerial, legal, and fiscal) and their effect on the company condition of profitability, liquidity and solvency;
understanding the value of the interested companies within the different operations in order to define the purchase price, merger exchange ratio, and the value of the remaining assets to be distributed to partners and shareholders at the end of winding-up.
Communication skills
Oral speaking about all essential aspects (terse and analytical) of the discipline, and under a multidisciplinary perspective