Instructional goals
The course aims to transfer knowledge of the standards, methodologies and principles underpinning the preparation of IAS/IFRS Financial Statements and the application of these Standards to the professional practice.
Prerequisites
Good knowledge of accounting and Financial Statements
Intended learning outcomes
KNOWLEDGE AND UNDERSTANDING: the student will have acquired the knowledge of the underpinning principles of IAS/IFRS framework and their implementation in individual accounting standards;
APPLYING KNOWLEDGE AND UNDERSTANDING: the student will have achieved the ability to apply this set of principles to accounting practice;
MAKING JUDGMENT: the student will have developed the ability to formulate critical judgments on Financial Statements prepared in accordance with IAS / IFRS;
COMMUNICATION SKILLS: the student will be able to communicate his understanding of accounting rules and underlying principles in an appropriate technical language;
LEARNING SKILLS: the student will have acquired the learning skills necessary for the continuation and conclusion of studies independently.
Course Contents
The course examines IAS-IFRS issued by IASB and endorsed by the European Union. The course provides a comparative analysis with the local accounting standards (OIC) and the US SFAS, issued by the FASB.
Reference Books
IAS/IFRS issued by IASB and endorsed by EU
Good Group illustrative financial statements (December 2025), EY
OIC documents
Slides – teaching materials
Teaching Methods
Lessons, case studies, conferences
Assessment Method
The student will be assessed through a written exam (2 terms) consisting of questions aimed at assessing both the knowledge and understanding of key concepts and the student's ability to re-elaborate the concepts acquired. In addition to the written exam, students are expected to participate in discussion of case studies, organized in teams. These activities will allow students to implement their skills in terms of critical thinking, management, teamworking, effective communication of the results.
The project is worth around 30% on final valuation.
Learning gaps concerning one or more notions or principles will lead to an insufficient evaluation, even in presence of a basic knowledge of the matter.
Thesis assignment criteria
Research skills
Week 1
Lesson 1:
Presentation of the course and teachers. IFRS as an international accounting language, financial markets and convergence with the United States; IAS/IFRS in Italy
Lesson 2:
Presentation of the IAS/IFRS Conceptual Framework and Illustrative Examples
Week 2
Lesson 3:
Presentation of Financial Statements: IAS 1/IFRS 18 and Cash flow statement (IAS 7)
Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8)
Lesson 4:
The cost accounting model – Fixed Assets (IAS 16/ IAS 38)
Week 3
Lesson 5:
Revenue from Contracts with Customers (IFRS 15)
Lesson 6:
Illustrative Examples on IFRS 15
Week 4
Lesson 7:
Substance over form: the Accounting Standard on lease contracts (IFRS 16)
Lesson 8:
Illustrative Examples on IFRS 16
Week 5
Lesson 9:
Midterm
Lesson 10:
Liabilities (IAS 37, IAS 19, IFRS 2); Inventories (IAS 2)
Week 6
Lesson 11:
Business Combinations (IFRS 3)
Lesson 12:
Training on IFRS 3/IAS 28/IFRS 11
Week 7
Lesson 13:
Case Study
Lesson 14:
Impairment of Assets (IAS 36)
Week 8
Lesson 15:
Illustrative examples and training on IAS 36
Lesson 16:
Distinction between equity instruments and debt instruments (IAS 32)
Week 9
Lesson 17:
illustrative examples and training on IAS 32
Lesson 18:
Case study
Week 10
Lesson 19:
FV vs amortized cost for financial assets measurement of (IFRS 9);
Recognition and Derecognition of financial instruments (IFRS 9)
Lesson 20:
Week 11
Lesson 21:
Guest speaker
Lesson 22:
Accounting for derivatives and hedging (IFRS 9); Illustrative examples and training on derivatives (IFRS 9)
Week 12
Lesson 23:
Related Parties (IAS 28); Joint Arrangements (IFRS 11); Consolidated Financial Statements (IFRS 10)
Lesson 24:
Illustrative examples and training on IAS 28/IFRS 11/IFRS 10