ACCOUNTING AND BUSINESS ADMINISTRATION - 2

The course contributes to the educational objectives of the Bachelor's Degree Programme, which aims to provide complete training in the management disciplines, as it equips the students with the basic knowledge to identify the economic and financial effects of an entity's transactions and events, to record them through the double-entry bookkeeping system and to prepare the financial report also according to the International regulation (IFRS).

The course offers an introduction to the theory and practice of financial accounting adopting an international perspective. The course provides the essential conceptual and contextual background underlying the preparation of financial reports useful for decision-making. It considers the detailed issues and problems of international financial reporting both in general and through the specific regulatory requirements of the European Union and the International Accounting Standards Boards. Upon completion of the course, students should be able to: record firm transactions using the double-entry system, prepare financial statements, apply specific accounting principles and rules, understand reasons and consequences arising from different national accounting systems, and discuss the arguments for and against global accounting convergence.

1. KNOWLEDGE AND UNDERSTANDING
The students of the Bachelor's Degree Program will gain knowledge and understanding about the operating setting of companies, financial statements, and other financial tools for decision processes taking an international perspective. At the end of this course, students will know and understand:
- the economic and financial nature of an entity's transactions and events;
- the method of double-entry bookkeeping in accounting;
- the accounting records of daily transactions and their effects on financial reports;
- the adjustment process at the end of the period aimed at rectifying and integrating values to determine the net profit and the equity;
- the national accounting alternatives and causes and consequences arising from diversities in the various domestic accounting systems;
-arguments for and against global accounting convergence.
-the International accounting regulation (IFRS) in the financial reports measurement and disclosure;

2. APPLYING KNOWLEDGE AND UNDERSTANDING
Students of the Bachelor's Degree Programme must be able to contextualize their knowledge applying it to the production of accounting information for decision processes. At the end of the course, students will be able to:
- record the main transactions using double entry bookkeeping, adjust values, prepare financial statements;
- draw up the income statement and the final balance sheet considering the accounting data available from the opening balance sheet, the description of transactions taking place during the accounting period, and information about final adjustments;
- apply the principal international accounting standards (IFRS) in preparing financial reports;
- critically evaluate the different accounting options in measuring and disclosing financial items and understand the choices made by the International Regulation (IFRS).

Additional Learning Requirement (ALR) Mathematics:
First-year students cannot take any exam in the business, economic or quantitative area if they have this ALR (Additional Learning Requirement) pending.
Second - or later-year students cannot take any exam at all if they have this ALR pending

There are no formal prerequisites for this course. It represents the second part of the “Accounting and Business Administration” course (12 credits).

The first module of the course focueses on:
1. Managers and managing
2. The Evolution of Management Thought
3. Values, Attitudes, Emotions and Culture
4. Ethics and Social responsibility
5. Managing in multicultural and global environment
6. Decision-making
7. Planning and strategizing
8. Functional strategies for competitive advantage
9. Managing organizational structure and culture
10. Organizational control and change
11. Motivation and performance

The second module of the course focuses on the production of economic information for external communication and its regulation in a global context.
1. Accounting in Business
2. Accounting for Business Transactions
3. Adjusting Accounts for Financial Statements
4. Accounting for Merchandising Operations
5. Inventories and Cost of Sales
7. Accounting for Receivables
8. Accounting for Long-Term Assets
9. Accounting for Current Liabilities
10. Accounting for Long-Term Liabilities
11. Corporate Reporting and Analysis
12. Reporting Cash Flows
13. Analysis of Financial Statements
+
IFRS conceptual framework and specific IAS/IFRS standards

Fundamentals of Financial Accounting, McGraw Hill 2020 – ISBN 9781307610185

Additional material may be provided by the professor and shared on Moodle platform.

The exam will be in written form. It includes open questions, multiple choice questions, and one exercise to verify the knowledge of the theory and the student's practical skills.

written

The grading system (how the grades will be assigned) for both attending or non-attending students is as follows:
A. scores in the 18-22 range will be awarded in the presence of:
- sufficient knowledge and ability to understand applied in relation to the programme;
- sufficient ability to apply knowledge and understanding and judgment;
- sufficient communication skills, especially in relation to the use of specific language relating to the subject;
B. scores in the 23-26 range will be awarded in the presence of:
- good knowledge and ability to understand applied in relation to the programme;
- good ability to apply knowledge and understanding and judgement;
- good communication skills, especially in relation to the use of specific language relating to the subject;
C. scores in the 27-30 range will be awarded in the presence of:
- excellent knowledge and ability to understand applied in relation to the programme;
- excellent ability to apply knowledge and understanding and judgment;
- excellent communication skills, especially in relation to the use of specific language relating to the subject.

Classes will comprise a mixture of theoretical input and problem-based discussions. They are interactive classes during which students will be required to participate actively and consistently. Regular classes will be supplemented by weekly tutorials dealing with the more technical dimensions of financial accounting and consisting mainly of assisted solutions to problems and exercises.

Lectures and the textbook are the primary sources of preparation for the final examination.