Course 2025-2026 a.y.

20989 - CORPORATE REPORTING - MODULE 1 (CORPORATE FINANCIAL REPORTING)

Department of Accounting

Course taught in English
40 - 41 - 42 - 43
AFM (8 credits - I sem. - OB  |  SECS-P/07)
Course Director:
ANNITA FLOROU

Classes: 40 (I sem.) - 41 (I sem.) - 42 (I sem.) - 43 (I sem.)
Instructors:
Class 40: NICOLA PECCHIARI, Class 41: PIETRO ANDREA BIANCHI FEDRIGONI, Class 42: LORENZO POZZA, Class 43: ANNITA FLOROU


Mission & Content Summary

MISSION

The course aims to develop students’ conceptual understanding of financial reporting issues and their knowledge of the problems and proposed solutions. It will consider a number of areas where standard setting has proved to be controversial or difficult and where policy debate is continuing. We will examine what theory would suggest regarding practice, how accepted accounting conventions are applied and what actual company behaviour illustrates about the nature of financial reporting. The dominant accounting systems are International GAAP (IFRS) and, at present, US GAAP and we will study the main elements of the former.

CONTENT SUMMARY

The course addresses the following issues:

 

  1. The Revised Conceptual Framework of IFRS.
  2. The content and accounting principles of IAS-IFRS related to the most recurring and material items, including:
  • The presentation of financial statements
  • Consolidated financial statements
  • Separate financial statements, investments and joint ventures
  • Business combinations
  • Tangible and intangible assets
  • Impairments
  • Provisions and contingent liabilities
  • Revenue recognition
  • Leasing transactions
  • Deferred taxes and valuation allowances
  • Shared-based payments
  • Employee benefits 
  • Financial instruments

3. The effect of financial reporting choices and managerial discretion on income measurement and balance sheet valuations.

4. A series of contemporary topics and policy debates about financial reporting.


Intended Learning Outcomes (ILO)

KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...
  • Understand the IFRS Conceptual Framework
  • Identify the accounting principles underlying IAS/IFRS
  • Discuss controversial financial reporting issues and proposed solutions

APPLYING KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...
  • Apply IAS /IFRS in complex cases
  • Identify alternative approaches to a financial reporting problem, understand the pros and cons of each approach and decide which one is more appropriate given the specific context.
  • Evaluate financial statement information quality

Teaching methods

  • Lectures
  • Practical Exercises

DETAILS

Lectures and Exercises

Each lecture is supplemented by in-class exercises that enable students to understand how accounting rules work in practice.

Exercises consist of accounting entries and calculations.

Exercises require interaction and discussion by students.

 

Case-studies

Many lectures are supplemented by in-class case-studies.

 

Each case places the student in a decision-making role, pushing them to determine the relevant information, identify the key problems, and decide what analysis is actually needed to make a decision. The subsequent classroom discussion focuses on debating the central issues in the case, considering the different financial analyses performed by the students, and delving into student decisions. Instead of mimicking solutions to reference problems, the case method obliges students to develop their own critical thinking skills. The objective of case studies is not to identify the one and only correct answer. Instead, the objective is to identify alternative approaches to a financial reporting problem, understand the pros and cons of each approach and accordingly decide which one is more appropriate given the specific context.

 

Case studies require interaction and discussion by students.

Assessment methods

  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
   x x

ATTENDING AND NOT ATTENDING STUDENTS

The course grade is assigned on the basis of:

  1. Two written exams (1st and 2nd partial) accounting for 40% and 60% of the total mark, respectively. 

OR

2.  One comprehensive exam accounting for 100% of the total mark.

 

More details are provided in the course syllabus and in class.

Teaching materials


ATTENDING AND NOT ATTENDING STUDENTS

Course material consists of slides, exercises, case studies and a course textbook (see below). In addition, only for certain topics/sessions, the course is supplemented by study of papers from academic research and the practitioner-academic interface. In this case, a specific reading list will be provided with guidance on where to concentrate your efforts. Moreover, further reading material will also be provided; this is optional and intended for those who wish to study a topic in greater depth. Some of these reading materials will be referred to in the lectures. Collectively, the reading materials will help you develop further appreciation of the issues discussed. Importantly, you should be prepared to discuss the case studies during lectures. All teaching material (except for academic articles) will be available online. You are required to find the academic articles yourselves, as part of developing your research skills. 

 

Course textbook:  Melville A. International  Financial  Reporting: A Practical Guide. 8th Edition. Pearson Education Limited, 2022.

 

Additional textbooks (optional and recommended for additional practice exercises):

  1. PFK International LtD. Wiley 2023 Interpretation and Application of IFRS Standards. Wiley, 2023.
  2. Picker R., Van der Tas L., Kolitz D., Livne G., Loftus J., Koning M. and Service C. Applying IFRS Standards, 5th Edition, Wiley, 2025.
  3. Kieso D.E., Weygandt J.J. and Warfield T.D. Intermediate Accounting IFRS, International Adaptation, 5th Edition, Wiley, 2024.
  4. Harrison W., Suwardy T. and Tietz W. Financial Accounting IFRS, Global Edition, 12th Edition, Pearson, 2023.

 

 

Last change 24/05/2025 18:10