97294 - Appraisal and Mangament in Plant Nursery and Landscaping Companies

Learning outcomes

At the end of the course, the student acquires the basic knowledge to be able to carry out economic evaluations of green in urban and suburban areas, in private and public perspective. The student is able to estimate the costs and revenues of a production process in the horticultural sector and in the realizations of green works, developing the ability to critically evaluate facts and data and to communicate them in effective ways. In addition, he/she acquires the basics of management accounting principles and tools for the economic management of enterprises operating in a dynamic social environment, characterized by accentuated uncertainty and rapid technological change and the continuous modification of the socio-economic framework. Finally, the student is able to independently evaluate assets and investments of interest to floricultural enterprises, and to apply the tools of evaluation critically and independently.

Course contents

Module 1 - LIVESTIME AND AGROFOOD EXTERIOR
Learning Unit 1 (18 hours)
- General aesthetics (6 hours)
a. Characters of valuation
b. Economic aspects and criteria of estimation. Main criteria and derived criteria
c. Estimation procedure
d. Notes on the International Valuation Standard and the UNI 11558:2014 standards
- Rural and cadastral valuation (6 hours)
a. Overview of the Land Cadastre and Cadastre of Buildings: objectives, census estimation, cadastre revision.
b. Rural land valuation
c. The valuation of land improvements and tree crops
d. The valuation of forests
e. The estimation of ornamental plants (Swiss method, CAVAT, etc.)
f. The Valuation of Buildings
- Overview of Legal and Environmental Estimating (6 hours)
a. Outlines on the estimation of emphyteusis and usufruct rights
b. Outlines on estimates inherent to expropriations for works of public utility
c. Environmental externalities
d. The valuation of environmental assets: indirect and direct estimation criteria

Knowledge acquired unit 1
a) Knowledge of the correct theoretical approach for the valuation of economic goods in the agricultural and forestry sector, as well as environmental goods
b) He/she understands and is able to apply the valuation criteria on the main case studies that may interest the professional activity of a junior agronomist valuer
c) Is able to support with sound theoretical and applicative arguments the resolution of valuation cases, with particular reference to those concerning ornamental green and the environment
Unit of study

Readings/Bibliography

Module 1:
The following reference texts are recommended to students:
(a) core text:

V. Gallerani - Manuale di estimo, McGraw-Hill, 2011

b) text for further study for points 3.3 and 3.4 (environmental estimation): I. Musu – Introduzione all'economia dell'ambiente, Il Mulino, 2008 - capitolo 3.

Module 2:

Anthony, R.N., Hawkins, D.F., Merchant, K.A. and Macrì, D.M. (2021), Il Bilancio - Analisi Economiche per Le Decisioni e La Comunicazione Delle Performance, published by McGraw-Hill, Milano.

At the end of the course, the lecturers will provide students with specific teaching material (in electronic format) to supplement the notes taken during the lectures.

Learning Unit 2 (12 hours)

Exercises (12 hours)

Exercise on the valuation of rustic land
Tree valuation exercise
Production cost estimation exercise
Estimated metric calculation exercise
Knowledge acquired Unit 2

a) Correct approach to concrete cases of an estimative nature

b) Mastery of estimation criteria and related procedures to express detailed estimative judgements

c) Ability to apply the tools studied to solve case studies in estimative matters

 

Module 2 - FLORAL BUSINESS MANAGEMENT

Learning unit 1 (4 hours)

Elements of financial calculation (4 hours)
Capital, interest and discount
Periodicity
Knowledge acquired Unit 1

a) Knowledge of the mathematical-financial approach concerning the valuation of agriculture and forestry as well as of environmental goods

b) He/she understands and is able to apply financial mathematics to the main case studies that may be of interest to the professional activity of a junior agronomist valuer

c) Is able to support the resolution of financial mathematics problems with adequate theoretical arguments on the use of financial formulae, with particular reference to estimation cases related to ornamental green and the environment

Learning Unit 2 (14 hours)

The nature and purpose of accounting (1 hour)
The Balance Sheet (4 hours)
Basic accounting principles
The Balance Sheet
Indexes
The Profit and Loss Account and its Classifications (4 hours)
The cost of sales income statement
The contribution margin income statement
The Value Added Income Statement
Balance sheet analysis (4 hours)
Company objectives
Global performance
Profitability ratios
Efficiency ratios in the use of investments
Financial ratios
Growth measurement ratios
The statutory financial statements (1 hour)

Knowledge acquired unit 2

a) Knows the correct administrative accounting approach for companies operating in the green sector

b) understands the relationship between assets and income and is able to read a balance sheet

c) Is able to support with appropriate theoretical-applicative arguments the fundamentals of good business administration for the enterprises of reference

Learning Unit 3 (12 hours)

Exercises (12 hours)

Exercise on financial calculation
Exercise on financial statements
Knowledge acquired Unit 3

a) Correct mathematical and financial approach to the areas covered in the course

b) Correct administrative and accounting approach for companies operating in the green sector

c) Mastery in the use of financial calculation formulas to be applied to specific problems

d) Mastery in reading and interpreting information in financial statements

e) Ability to apply the tools of financial statement analysis to concrete cases.

Educational prerequisites

For this course, students must have a good grounding in the fundamentals of mathematics, statistics and agricultural economics. This knowledge is acquired through the basic teaching in the first year of the course

 

 

 

Teaching methods

The course is split into four teaching units, three of which are theoretical and consist of lectures, while two others are made up of specific exercises on the main topics covered in the course.
In particular, the first theoretical unit, develops the discipline of valuation and business valuations in its various declinations, the second deals with elements of financial calculation, while the third concerns the economic management of enterprises, with specific reference to nursery and agroforestry enterprises.

Assessment methods

The assessment of learning takes place through the final examination, which ascertains the acquisition of the expected knowledge and skills through an oral test at the end of the course.
The examination questions cover the topics developed in the four teaching units, thus including the solving of exercises on financial calculation, company economics and valuation. The duration of the test varies between 30 and 45 minutes. The dates, times and location of the exams are published on AlmaEsami, which you can access to register for the exams.

Teaching tools

Whiteboard, video projector, computer, internet access.
All lessons are conducted with the aid of Microsoft Power Point presentations.
Microsoft Teams is used as the main support for online teaching and as the main communication tool in the classroom.

Office hours

See the website of Maurizio Canavari

See the website of Sergio Rivaroli