Course 2018-2019 a.y.

Accounting is the language of business, an important means of communication among various business parties. Among others, financial accounting speaks mainly to external information users, such as investors and financial analysts, who make decisions for many different purposes using the accounting information revealed in financial statements. This course is designed to provide students with a basic understanding of key accounting concepts and principles with which financial statements are prepared. This course covers most of important accounting topics. In particular, students learn:

• How to read and interpret main business transactions.
• How to apply the double – entry bookkeeping techniques.
• How to evaluate the main accounting items.

The course makes reference, where necessary, to International Financial Reporting Standards (IAS/IFRS) and to the main differences compared to US GAAP.

• Understand the techniques at the basis of financial reporting preparation. Understand the closing entries and identify the areas which are subject to managerial discretion.

• Read and understand business transactions in order to prepare companies' Balance Sheet and Income Statement.

• Face-to-face lectures
• Exercises (exercises, database, software etc.)
• Case studies /Incidents (traditional, online)

• The learning experience of this course is mainly based on face-to-face lectures.
• Lessons are interactive, as accounting is a very practical course: real-life cases are presented during teaching, with the goal of linking the explanation to the “real world of business and accounts”.
• After each set of lectures regarding a certain topic, review sessions are discussed in class: the goal of the review session consists in showing the students how to approach the preparation of journal entries and all other tasks concerning Accounting.
• To actively participate to review sessions, students need to use their communication and interpersonal skills.

Students must register to seat for the exam. There is no partial exam. The exam is written. The final grade of the course, which is registered in the students’career, is  determined as the average of the exams 30426 and 30427 grade. Notwithstanding attendance is not compulsory and is not assessed through the “attendance” system, exam 30426 is  graded differently, on the basis of the status of “attending” or “non-attending students”.

• Attending students: during the course, 4 "in class" short quizzes are given to the students. These 4 tests consist of either (or a combination of) multiple choices and closed-ended questions. They approximately last 20 minutes and their main goal is to foster continuous assessment and participation. Each test is on a "pass or fail" basis. A Pass grade is given if more than 60% of the answers is correct. A missing student is equivalent to a student who failed the test. Students Passing a minimum of 3 quizzes (out of 4) are considered “attending student”. “Attending students” get 3 points. Such points give the student the following:
  • On the date of the exam, they are allowed to skip one exercise (among a set of exercises included the exam) which is automatically graded 3 points.
  • NOTE: the test points are to be used in the first two exam sessions after the end of the course.
• The written exam is based on a mix of open questions, closed questions and exercises, which aims to assess the student’s learning level of the theoretical notions and the main concepts, methods and tools shared in the course.

Students must register to seat for the exam. There is no partial exam. The exam is written.

The final grade of the course, which is registered in the students’career, is determined as the average of the exams 30426 and 30427 grade. Notwithstanding attendance is not compulsory and are not assessed through the “attendance” system, exam 30426 is graded differently, on the basis of the status of “attending” or “non-attending students”. Non attending students: ALL NON ATTENDING students have an exam on 31 point basis.

The course material is exclusively represented by:

• LIBBY, LIBBY, HODGE, Financial Accounting, McGraw-Hill, International Edition, 2016, 9th edition. More detailed information on chapters included and excluded are posted on Bboard during course.
• Slides - provided through Bboard.
• The course materials (e.g., hands outs and teaching notes) are regularly downloadable from Bboard platform. Teachers make the materials available throughout the course.