Chemical Engineering

1) The Enterprise: Characteristics, Role, Context 1.1 Enterprise as an Open System: Utilizes resources, transforms through technology and organization, generates output. 1.2 Why Do Enterprises Exist? Division of Labor, Economies of Scale, Transaction Costs. 1.3 The Enterprise and Its Context: Risk and Continuous Change. 1.4 Organizational Structure: • Governance Models: Decision-Making Within a Company. • Legal Forms. • Internal Operations: Business Functions, Organizational Chart. 2) Financial Statements 2.1 Accounting: Definition and its Link with Business Information Management. 2.2 Balance Sheet: An Artificial Accounting Model for Reporting and Control, Represents the Synthetic Accounting Information of Assets. 2.3 Regulation and Accounting Principles (a set of standard rules of behavior). 3) Financial Statements Analysis 3.1 Balance Sheet: Statement of Stock, Role, and Objectives. 3.2 Income Statement: Statement of Cash Flow, Role, and Objectives. 3.3 Cash Flow Statement: Statement of Cash Flow, Role, and Objectives. 3.4 Financial Analysis: Technique for Comparing Financial Data, Compared Over Time and Across Space, Dedicated to the Study of Aspects of Business Management. 4) Investment Analysis 4.1 Challenges in Managing/Deciding on Project Portfolios. 4.2 Economic-Financial Method for Project Evaluation: • Opportunity Cost of Capital and the Role of Risk. • The role of time • Scenarios (with or without). • Calculation of NPV • Challenges and Alternative Measures (IRR, Payback Period, Profitability Index). 4.3 Decision Tree and Expected NPV: • Opportunity Cost of Capital and the Role of Risk. 4.4 Internal Company Valuations: • Cost of Internal Capital: Leveraged and Unleveraged Cases, WACC (Weighted Average Cost of Capital). Environmental Economics 5.1 Renewable and Depletable Resources. 5.2 Public policy: • Common Goods and Public Goods. • Externalities.

Il corso non prevede la necessità di particolari prerequisiti. Viene richiesta unicamente una conoscenza base di concetti base di analisi matematica. The course does not require any specific prerequisites. Only a basic knowledge of fundamental basics in calculus is required.

R.N. Anthony, D.F. Hawkins, D.M. Macrì, K.A. Merchant. Il bilancio. Analisi economiche per le decisioni e la comunicazione della performance. McGraw-Hill Education. Edizione 15. G. Azzone, U. Bertelè. L' impresa. Sistemi di governo, valutazione e controllo. Editore: Rizzoli, Edizione: 5, ISBN: 881705187X A. Quagli. Bilancio di esercizio e principi contabili. G. Giappichelli Editore. Edizione 10. Tutto (capitoli 7,8, 13, 14, 15 esclusi).

Frequenza non obbligatoria, ma consigliata. Soprattutto con riferimento alle attività di esercitazione. Attendance is not mandatory but recommended, especially in relation to the practical exercises.

The evaluation is conducted through the completion of two assessments: Written Exam: Approximately 1;30 hour, one in financial statement analysis and/or investment analysis is provided. Oral Exam: Approximately 25 minutes, a series of questions covering the sections of the course program will be asked.

The course is delivered in a face-to-face classroom setting. The initial lectures of the course are entirely theoretical. Part 3, Part 4, and Part 5 of the program are taught by integrating classroom teaching with practical exercises. During the course, thematic seminars are conducted, either by the instructor or guest speakers.