42496 - FINANCIAL REPORTING

Conoscenze e abilità da conseguire

At the end of the course the student is able to record the most frequent transactions under generally accepted accounting principles and draw up financial statements. The course also aims at reinforcing students’ understanding of the principles and usefulness of mandatory financial disclosures.

Contenuti

The course is designed to prepare tomorrow’s accountants and managers providing them with a broad overview of financial accounting, giving them the necessary tools to deal effectively with the subject in the international arena. The International Accounting Standards will be used in the course. The course exposes you to the theories and principles of Financial accounting that are important to prepare the final accounts of businesses and also the course helps in the sound management of businesses assets such as cash, accounts receivable, inventory and non-current assets. Thus, the course focuses on accounting systems and recording procedures and management of assets. By the end of the course students will understand and develop skills on: business ethics, double-entry bookkeeping rules; prepare and understand financial statements (income statements, balance sheets, and statements of cash flows); understand the management of cash, accounts receivable, inventories and non-current assets.

Upon completion of this course, students will understand basic theories and insights drawn from the field of financial accounting and will be able to relate that knowledge to organizational settings including but not limited to the following: 1. How to develop bookkeeping and understand financial statements 2. Understand the importance of ethical decision-making 3. Understand in-depth the full accounting cycle 4. Understand the importance of managing assets such as cash, accounts receivable, inventories and non-current assets and their implications on the financial performance and position of the business entity.

The course is divided into two parts:

Part 1 (32 hours)

Professor Umesh Sharma will teach during November.

The course focuses on (i) providing knowledge on financial accounting. Students learn to manage the bookkeeping process, read and develop financial statements: they understand that financial statements are the product of financial accounting processes. They represent the means of communicating financial information about an organization to stakeholders who want to make decisions and informed judgments about the entity's financial position; (ii) Students will review about the conceptual framework and GAAPs that underlie the preparation of financial information for decision making and learn to appreciate the importance of ethical behavior in the practice of accounting and (iii) Students will learn the importance of cash and cash internal control measures like petty cash, budgeting and bank reconciliation processes.

Related to (i) and (ii) point exercises will be developed and multiple choices on point (iii).

Day 1-2: Introduction, syllabus, schedule, and exam. What is financial accounting, what is conceptual framework, accounting equation, Financial statements and accounting concepts and principles (Chapter 1 Low et al., 2023).

Day 3-4: Ethical issues in accounting, measurement of business transactions transaction analysis, financial statements (Chapters 2 and 3 Low et al, 2023).

Day 5-6: Measurement of business Transaction (Chapter 3, Low et al., 2023). Accounting Information systems (Chapter 4 Low et al., 2023).

Day 7-8: Accounting Cycle (Chapter 5, Low et al., 2023).

Day 9-10: Accounting Cycle continued (Chapter 5, Low et al., 2023), Cash control and reporting (Low et al., 2023).

Day 11-12 Cash control and reporting continued (Low et al., 2023).

Part 2 (13 hours online after the in-class lectures)

Professor Umesh Sharma will teach during November and December.

The course focuses on

Day 13 and 14 Accounting for Accounts Receivable and Payable (Chapter 8, Low et al., 2023)

Day 15 and 16 Accounting for Inventories (Chapter 9, Low et al., 2023).

Day 17 Accounting for non-current assets (chapter 10, Low et al., 2023).

Testi/Bibliografia

Low, M., Sharma, U., Botes, V., Hewagama, G. and Cheng, A. (2023), Accounting Principles and Practices for New Zealand Students, Cengage Learning, Australia (4th Edition).

The ebook link for students is

https://nz.cengage.com/c/ebook-accounting-principles-and-practice-for-new-zealand-4e-low-botes-sharma-hewagama/9780170474672/?searchIsbn=9780170474672

Further reading, articles and documents can be provided during the course

Metodi didattici

The pedagogical approach is based on a combination of lectures (presentations and related explanations), interactive classes, exercises and discussion questions.

Modalità di verifica e valutazione dell'apprendimento

A final written examination will be held at the end of the course and will consist of multiple choices questions related to different elements of the course programme, as well as exercises and open questions.

The assessment of the preparation will be based on the following evaluation judgment scale:

- <18 insufficient

- 18-23: sufficient preparation but relating to a limited/or generic number of the course contents;
- 24-27: satisfactory preparation but with some gaps with respect to the course contents;
- 28-30: very in-depth knowledge of all the course contents;
- 30L: excellent knowledge of the course contents.

Enrolment is required to set the exam. Students must enrol via Almaesami platform: https://almaesami.unibo.it/almaesami/welcome.htm, where rules and deadlines to enrol to each exam are indicated.

The exam is written in presence. The exam involves exercises, multiple choice questions where the correct answer/s can be more than one for each question, discussion questions and open questions.

Strumenti a supporto della didattica

Books

Exercises

Discussion questions

Open question

Orario di ricevimento

Consulta il sito web di Umesh Prasad Sharma