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Learning Objectives

provide basic knowledge and understanding on financial accounting and financial statements

recognize values and their meaning in financial statements

to be able to record transactions and their effects on the firm's value

expressing general opinions about financial trends of flisted firms

to be able to explain how the recording process should take place

Ability to understand the meanings of primarily financial statements and to formulate basic judgements about the firms' overall financial health


Have been succeed in a basic course in fundamentals of business administration. This prerequisite is valid for all students, including those enrolled in other Bachelor programs o in dual degree programs with other countries. The prerequisite is not applicable only for incoming erasmus students


The course is designed to provide you with a basic understanding of financial accounting and financial reporting. Specific attention will be devoted to the preparation, analysis and basic interpretation of financial information and financial statements. We will focus on the three primarily financial statements (Income statement, balance sheet and to a lower extent statement of cash flow) used by external stakeholders for decision making purposes.
Here follows the main parts into which the course program is allocated. Each part, on average will take one week:
1. Accounting as the main language of the business
2. The Accounting equation
3. The recording process
4. Accrual vs cash basis of accounting. The full accounting recording process
5. Accounting for sales and receivables
6. Accounting for inventories


Horngren, Sundem, Elliot and Philbrick, Introduction to Financial Accounting, Prentice Hall, 13th edition, Chapter 1 up to 7 (except chapter 5)
Selected Annual reports of listed companies.


Financial Accounting 6th Edition: An International Introduction, 6/E
Alexander & Nobes

Teaching methods

Teaching Hours and Teaching Methods

Teaching methods:
Lecture 65%
Exercises, Discussion and group presentation 35%
(Homework assignments are the basis for class discussion)

Exam Rules

Group Project presentation and report 30%
Final (written) exam 70%
Total 100%
The following factors are considered in the class participation and students can benefit from them:
1. Attendance.
2. Volunteering answers to questions or asking good questions.
3. Responses to discussion questions.
However there are no obstacles to non attendants to reach the same performance.

As for the assessment, there are no differences between attendants and non-attendants. The latters will submit and present their projects (also made individually) the day of the exam.

Students will succeed in the exam by getting a grade equal or higher than 18/30. Below 18 student will be rejected and invited to attempt again at a future date after having deepened the lackings reported.
Within the range of positive grades (from 18 to 30) it is possible to recognize the following sub-range and related features:
18-20. The student can succeed in the light of a very basic understanding of all topics and ability to report and discuss them with a very minor critical approach.
21-23. The student got the basics well and is able to understand and quickly well-debrief the major concepts and issues faced during the course.
24-26. The student is mature with respect to the course contents and related understand. He/she can fairly report all concepts in a correct manner by well balancing synthesis and analysis
27-29. The understanding is full and appreciable. The student not only has learned much, he/she is also able to infer his/her knowledge in connection with other subjects and discipline and he/she is also able to open up future critical issue.
30- 30 cum laude. The student's preparation and performance is outstanding. He/she is at ease in perfectly respond to whatever issue around those faced during the course. He/she is able to make connection and bridges in the vast field of business administration and this attitudes demonstrate the student's potential to succeed in the job market in the areas related with the course.