6071 - ACCOUNTING AND INDUSTRY SPECIFICATIONS

The course examines all the problems arising when the transactions typical of certain sectors are recorded.
Typical business combinations are presented, starting with the analysis of the principal characteristics of the sector to which they belong, in order to let the student understand the related problems in financial statement recording, classifying and evaluating. Moreover, some guided simulations of reading and interpretation of financial statements relative to different business groups of a same sector are made in class. This, in order to let the student gain confidence with real financial statements. Students are also asked to undertake team works regarding sectors similar to those analysed in class, so that the abilities of sector analysis can be tested, thus allowing an additional valuation.

At the end of the course, students are able to:

• Read and interpret financial statements of companies operating in different industries;
• Identify and judge the impact on the companies' accounts of alternative accounting methods within the same industry;
• Infer the principal accounting issues related to each specific industry.

• The impact of industry specifications on company's accounts
• The large retail industry: accounting for inventory and provisions
• The editorial industry: newspapers and different sources of revenues
• The shipyard industry: super yachts, work in progress and foreign currency transactions
• The fashion and furniture industries: the role of intangible assets
• The discography industry: artists' compensations and royalties
• The theme park industry: the role of tangible assets
• Group discussions

The assessment is based on a written exam at the end of the course. For attending students only, the exam is made of two written tests. Attending students can also work on group assignments, which allow to obtain a grade that integrates the result of the written exam.

• BARRY J. EPSTEIN, ABBAS ALI MIRZA, WILEY IFRS 2009:Interpretation and application of International Accounting and Financial Reporting Standards, 2009.
• Other teaching material will be handed out through the e-learning.