Ateneo - UPO

The International Accounting Standards course provides the knowledge necessary to understand and apply to financial statements the international accounting standards - IAS / IFRS - issued by the IASB. It also aims to highlight the main differences between the financial statements drawn up according to national standards and those drawn up according international standards.

The text used to conduct the lessons in the classroom, which serves as a reference text to support the exam, is as follows. A.A.V.V. – IAS/IFRS – Ipsoa Editore – Gruppo WolterKluwersItalia, Milano, IV edition, 2022.

Knowledge and understanding (knowledge and understanding):
The course represents the institutional teaching that develops the theory and methodologies related to the composition and the reading of the financial statements for the subjects obliged in Italy to apply the international principles.
The student will be able to represent the management facts and understand the meaning and the logic of the accounting process. The cognitive process linked to the consolidation of the contents of the regulations will put the student in the conditions to develop economic-technical and management skills in accounting.
At the end of the course, the student will be able to understand how to make a budget for publication, which information it receives, what its potential information is and what its limitations are.

Ability to apply knowledge and understanding (applying knowledge and understanding):
The knowledge acquired on the subject will lay the foundations for developing technical and accounting skills and competences in the student.
The approach used is oriented to the identification and understanding of the essential methods for evaluating and correctly recording the individual items in the financial statements on the basis of the international accounting standards issued by the IASB (International Accounting Standards).
The theory will be conjugated, in the study of the discipline, with the practical moment, through examples and exercises, extremely relevant to understand the operative mechanisms of the process of writing the accounting records. The student will be involved and induced to put himself to the test during the practical exercises in which he will be able to ascertain the degree of understanding and application of the acquired knowledge.
At the end of the course, the student will be able to assess estimates and conjectures in the financial statements, know how to apply the main evaluation criteria and judge the health status of a company, know how to build a balance sheet and the report financial.

Making judgments (making judgments):
The course will allow the student to develop an autonomy of judgment and will put him / her in a position to express critical considerations regarding the management facts recorded in the general accounts and the related results shown in the financial statements.

Communication skills (communication skills):
On the basis of the acquired knowledge, the student will be able to develop communication and relational skills for the business consulting activity and to carry out evaluations of an accounting nature, in the job positions connected to the administrative function.
The student will acquire the typical technical language of the subject to communicate clearly and with specialists and non-specialist interlocutors.

Learning skills (learning skills):
The course provides the methodological aspects necessary to develop an adequate self-learning through the critical examination of the principles

Background knowledge: good knowledge of the methodology for recording management and closing operations in double-entry on the accounting books, good knowledge of national GAAPs and national legislation on financial statements

The course includes a total classroom commitment of 64 hours, equivalent to 8 training credits.For the purposes of the learning process, the classroom commitment, which is decisive for passing the exam, will be divided into theoretical lessons and interactive exercises, which aim to understand the concepts provided by the legislation. The extra-classroom activities consist of the study of the lessons indicated in the analytical program of the course and the performance of the exercises that will be indicated by the teacher in the classroom, to assess the degree of preparation of the student.

Attending the course is not compulsory but it is highly recommended.
Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools via the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti, consulting the University webpage: https://www.uniupo.it/en/services/servicesstudents-physical-or-learning-disabilities Students with disabilities, learning disabilities or special education needs, once they have contacted the University Staff, can refer to the tutor in charge of the course to define the examination modalities, concerning academic aspects.

Exams can be taken in two ways:
- Support of partial intermediate tests.
The student has the possibility to take 2 partial intermediate tests. The second test can be accessed only if the first partial test has been passed with a grade of at least 18/30. The passing of both written tests automatically involves the assignment of the final grade (determined as the arithmetic mean of the two tests). The vote must be registered, under penalty of forfeiture, within the calls of the summer session.
- Support for a general exam.
The student, who does not pass one of the two intermediate tests or who chooses the general exam as a test, will have to take a written test covering the whole program of the course. The written exam will include exercises and cases aimed at understanding both the degree of learning and the independence of judgment in the choice and use of the accounting principles and the most appropriate tax provisions to be applied.
It will also include open-ended theoretical questions typically aimed at verifying the degree of learning of the subject.

The course consists in providing the student with the necessary skills to deal with the following topics, according to the principles that are eminently logical-business:
IAS 1: Presentation of the financial statements.
IAS 2: Inventory.
IAS 7: Cash Flow Statement.
IAS 8: Accounting policies, changes in accounting estimates and errors.
IAS 10: Events after the closing date of the financial year.
IAS 11: Custom works.
IAS 16: Property, plant and equipment.
IFRS 17: Leases.
IAS 20: Accounting for public and information contributions on public assistance.
IAS 23: Financial charges
IAS 36: Impairment of assets.
IAS 37: Provisions, liabilities and contingent assets.
IAS 38: Intangible assets. IAS 40: Real estate investments.
IFRS 5: Non-current assets held for sale and discontinued operations
IFRS 13: Evaluation of fair value
IFRS 15: Revenues.
IAS 12: Income Taxes -
CENNI IAS 19: Employee benefits
BRIEF. IAS 21: Effects in changes in foreign exchange rates -
BRIEF. IFRIC 1: Change in liabilities recorded for dismantling, restoring, and similar liabilities.
IFRIC 5: Rights deriving from interests in funds for decommissioning, restoration and environmental remediation.
IFRIC 6: Liabilities arising from participation in a specific market - Waste electrical and electronic equipment.
IFRIC 12: Service concession arrangements
IFRIC 13: Customer loyalty programs.
SIC 31: Revenues - Barter transactions including advertising services.

Knowledge of the IAS / IFRS international accounting standards and their application.