82008 - Consolidated Financial Statements (Laboratory)

Learning outcomes

At the end of the laboratory, the student knows how to conduct the revision of the consolidated balance sheet; can perform auditing functions of accounting documents and company trends requested from the member of the board of statutory auditors.

Course contents

        "THE CONSOLIDATED FINANCIAL STATEMENTS"
1. The Consolidated Financial Statements and the Corporate Group concept
2. The areas of use of the Consolidated Financial Statements:
a. Accounting information
b. Management control
c. Strategic planning
3. The determination of the consolidation area
4. The integral consolidation method. The construction of the aggregate
5. The process of eliminating controlling interests and the accounting treatment of positive and negative cancellation differences
6. The information (including management information) inferable from the analysis of the cancellation differences
7. The elimination of economic and equity items between Group companies
8. Elimination of intra-group profits and losses
9. The Consolidated Financial Statements in the national (OIC) and international (IFRS) accounting standards: differences and similarities
10. The control of the consolidated financial statements and some practical examples

Readings/Bibliography

Italian accounting standards OIC
IAS / IFRS international accounting standards

Teaching methods

Lectures with classroom discussions and presentation of specific cases and examples

Assessment methods

The final test is a written test, lasting sixty minutes, and consists of two open questions.
Both questions concern topics covered in the course, one is of a theoretical descriptive nature, the other refers to the more strictly accounting aspects.

The outcome of the exam is represented by the eligibility or not to pass the course.

Teaching tools

Slides made available for each lesson, shared files

Office hours

See the website of Giacomo Ramenghi