Management and corporate law

PART I — fundamentals of business economics – The firm as a center for the production of goods and services. – The organization of the firm and the factors of production. – Types of firms and their economic and technical characteristics: firms producing for the market (business enterprises) and firms producing for consumption (internal or for third parties). – The firm’s economic and monetary cycle. – Debt capital and equity capital. – The economic entity (forms of control and the Group). – The legal entity: natural person; legal person; public and private. – The firm’s economic equilibrium: the functional relationship between costs and revenues. – The definition of an adequate return on equity capital: the CAPM model. – The firm’s financial equilibrium: types of financial needs and their origins; sources of funding. – The firm’s cash flow: the statement of cash flows. – Self financing: methods of determination. – Economic efficiency as applied to the firm and to the Group. – The internal control system and the management of business risks. PART II — general accounting – Operating transactions: financial and economic aspects. – The account as the object of accounting records: the nature of accounts. – The income system and the double entry method. – The chart of accounts; the general ledger and the journal. – Accounting records: a) incorporation of companies; b) operating transactions: 1) purchases of goods and services; 2) sales transactions; 3) returns, discounts and allowances; 4) collection of receivables; 5) payment of payables; 6) bank receipts and bills of exchange; 7) financing transactions: loans, bond issues; bank overdrafts; secured bank advances; factoring and assignment of receivables (without recourse and with recourse); 8) accounting entries relating to employees and professional collaborators; c) closing entries (adjusting and accrual entries) and the accrual accounting principle: 1) capitalization of costs; 2) depreciation of fixed assets; 3) inventories; 4) provisions for risks and charges; 5) accrued income and accrued expenses; 6) prepaid expenses and deferred income; 7) work in progress on long term contracts; 8) invoices to be issued and invoices to be received; 9) allowance for doubtful accounts; 10) severance pay provision (TFR). d) taxation: from statutory income to taxable income (tax base): overview. e) recognition of the operating result for the period and its effect on shareholders’ equity. – Preparation of the annual financial statements: criteria and formats pursuant to the Civil Code and National Accounting Standards. – Reopening of accounts. – The process for approval of the annual financial statements. – Allocation of profits. – Coverage of losses.

Prerequisites not required.

Optional

The examination consists of a written test and, following its completion, an oral examination, both aimed at assessing the theoretical and applied knowledge of the subject. The written test, in particular, is structured into multiple choice questions and exercises relating to the accounting recognition of specific transactions.

Classroom lecture