FORMS I AND II - FINANCIAL ACCOUNTING (38 hours)
• The accrual basis of accounting
• The double entry book-keeping process
• The rules of debit and credit
• Recording entries in the general journal of a set of typical transactions (purchases, sales, receipts and payments, lending and borrowing, etc.) for manufacturing, commercial and services companies.
• Posting to the general ledger
• The preparation of a trial balance
• Recording adjusting entries
• Recording closing entries
• The preparation of financial statements

FORM III) THE PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH ITALIAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (25 hours)
• The accounting regulation: the rules of the Italian Civil Code (Articles from 2423 to 2435bis) and the Accounting Standards issue by the Italian Standards Setter “Organismo Italiano di Contabilità (OIC)”
• The scope of financial statements: the “true and fair view” of company’s assets, liabilities, financial position and profit or loss
• The general principles:
o going concern principle
o prudence principle
o prevalence of the substance over from principle
o realization principle
o matching principle
o separate valuation of assets and liabilities items
o consistency principle
• Balance sheet form and contents
• Income statement form and contents
• Statement of cash flows (refer to form IV)
• The function and the minimum contents of the notes (in brief)
• Financial Statements in the abridge version (in brief)
• Assets and liabilities recognition and measurement:
o inventories
o Trade and other receivables
o trade payables, loans, provisions and employees severance indemnities
o income taxes (taxes payable and deferred income taxes)
o fixed assets
o foreign currency transactions

FORM IV - FINANCIAL ANALYSIS (17 hours)
• Basic elements of financial analysis and performance valuation by the means of:
o balance sheet and income statement reclassification
o calculation of the main financial ratios
o preparation of the Statement of cash flows