The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

AA.VV, Diritto del governo societario, diretto da M. Irrera, Giappichelli, da p. 1 a p. 585

First part – Valuing a business
Definition of business value.
Business value and strategic value.
The relative approach to valuation (market prices and multiples).
The valuation techniques based on the firm's fundamentals.
The income methods:
- valuing the expected income (economic income or cash flow);
- valuing the discount rate;
- valuing the firm expected life and the terminal value.
Examples on the income methods.
The book value methods.
Valuation of intangible assets.
Firm value and equity value.
The application of “EVA model” to business valuation.
Second part: case studies
Valuing a bank.
The valuation of a distressed business.
Valuing a group of companies.
The valuation of human capital.
The valuation of brands.
Meetings with managers and business valuation experts
Third part – Principles of Business Valuation
Cash Flow Management in the Value Creation Process.
Normalizing Operating Earnings.
Financing a Leveraged Buy-Out.
Managing a post-LBO acquired Company.
Valuing a Changing Perimeter Business.
Valuing Sport Franchises and Automobile Dealership.
The Mechanism of a Private Equity Fund.
A Private Equity Approach to Valuation.

A. DAMODARAN, The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses, Pearson, NJ, 2018.
S.P. PRATT, Valuing a Business, McGraw-Hill, New York, 2009, capp. 7, 15, 16, 17.
R. THOMAS, B.E. GUP, The Valuation Handbook, Wiley, Hoboken, 2010, capp. 18, 19, 20, 21, 22, 23.

The course is divided into teaching modules:

Module I
1) Business concentrations and groups
a) Business concentrations: form and purpose
b) The group of undertakings in business doctrine
c) The group of undertakings in the national legal order:
- The concept of control pursuant to Article 2359 of the Italian Civil Code.
- The notion of control for the purposes of Legislative Decree 127/91
- Management and coordination activities pursuant to Article 2497 of the Italian Civil Code
d) The group of companies in international accounting standards
2) Shareholders' agreements and golden share as a mode of corporate domination
3) The economic and financial advantages of groups of companies
a) Size economies
b) Economies of scale
c) Use of leverage and leverage
d) Additional advantages peculiar to the group of undertakings
4) Business and group profitability
5) Legal instruments for the protection of corporate minorities
6) Methods of classification of company groups
a) Based on the degree of economic and/or productive integration
b) According to the way in which the holdings making up the complex are controlled
c) Based on the morphology and/or geographical extent of the aggregate
d) According to the legal nature of the parent company
7) Strategies for the constitution of business groups
a) Acquisition of controlling interests
b) Contribution of controlling interests
c) Transfer of business units
d) Company spin-off
8) Leveraged buy-out transactions and financial assistance
a) Concept and purpose of financial assistance
b) The bond issue
c) Structuring of a leveraged buy-out transaction
d) Types of leveraged buy-out transactions
9) Business group morphologies
a) The pyramidal structure and the lever action: in-depth study
b) Groups with chain structure

Module II
1) The logical-scientific approach to the consolidated financial statements: purpose, genesis and structures
2) The definition of the consolidation area according to national and international regulations
3) Consolidation methods for equity investments
a) Integral method
b) Proportional method
c) Equity method
4) Consolidation theories:
a) The Entity Theory
b) The Property Theory
c) Parent Company Theory
d) The Modified Parent Company Theory
5) The logic of pre-consolidation and consolidation elaborations according to national regulations and international accounting standards
a) The elimination of intra-group transactions
b) Valuation of equity investments excluded from the scope of consolidation
c) The nature and accounting treatment of consolidation differences
d) Translation of financial statements expressed in a non-accounting currency
6) The Acquisition Method and the Full Goodwill Method
7) Preparation and analysis of consolidation statements according to national regulations and international accounting standards
8) The Equity Method for the valuation of participations
9) Exercises and practical cases

Adopted books:

Module I
– Paoloni M., Celli M., Dall’economia d’azienda all’economia dei gruppi aziendali, Giappichelli, 2011

Module II
- Gallimberti C., Marra A., Prencipe A., Consolidation. Preparing and Understanding Consolidated Financial Statements under IFRS, McGraw-Hill, 2013

During the course, additional teaching materials (including periodic and final practice tests) will be made available to students on the teaching webpage.

1° Unit (Prof. Mauro Paoloni)

1. An overview of Corporate Governance
2. The Board of Corporate Governance and other bodies: structure, composition, roles and mood of operation
3. The Italian Governance systems
4. The structure, composition and the working mechanisms of the control bodies
5. Decision-making theories
6. Creating value for shareholders and stakeholders
7. The decision of dynamic equilibrium between the strategy of the firm, its legal form, the ownership structure, and the governance structures
8. The relation between strategy, ownership, and mechanism of govern
9. Case studies: Enron, Cirio, Parmalat

2° Unit (Prof. Salvatore Monni)
1. The Chinese economy
2. The Corporate Governance of Chinese enterprises
3. The cooperative
4. The Italian' cooperative
5. The Chinese' cooperative
6. Workers’ buyout

J. Solomon, A. Solomon (last edition), Corporate Governance, Wiley, UK (Chapter: 1; 2; 4; 7; 9; 10)

Bernardi, A (2016) “ G: Gung Ho” in Bernardi, A., Monni,S. (2016), The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 51-59.
Birchall, A (2016) “C: Control and Governance” in Bernardi, A., Monni,S. (2016) The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 29-32.
Bernardi, A., Monni,S. (2016) “Zeitgeist, Educating diversity ” in Bernardi, A., Monni,S. (2016),The Co-operative Firm Keywords. Rome: Roma TrE-PressRoma:167-175.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: l’esperienza italiana” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 16-29.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: definizioni e caratteristiche” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 8-15.

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

AA.VV, Diritto del governo societario, diretto da M. Irrera, Giappichelli, da p. 1 a p. 585

Planning and control (English version):

- The information system for the managerial decision-making process
- Development of planning and budgeting functions
- The decision-making process
- Strategic planning: definition of strategy, levels of strategy (corporate strategy, business area/unit strategy, business strategy), phases of the strategic process, portfolio analysis, portfolio matrix, critical success factors
- Models of organizational growth and development. Planning topics: external growth and globalization, flexibility, just in time model, outsourcing, total quality management, cost leadership, business process reengineering, benchmarking
- From strategic planning to budgeting. The budget and its elements.
- A systemic approach to control: goals and principles. Operating control, managerial control and strategic control. Effectiveness and efficiency: definitions and indicators.
- Control requirements: methods, accounting systems (financial accounting, cost accounting, standard cost, budget, variance analysis) and organizational structure (responsibility centers). Costing systems: Direct costing - full costing Activity Based Costing.
- Reporting. Performance Evaluation Models (Balanced Scorecard, Performance Prism, Common Assessment Framework)
- Case Study

[

Garrison, Norreen, Brewer, Managerial Accounting, 16th Edition, McGraw-Hill International Edition (all chapters)

Slides and articles on the website

Modul I - 30 hours
1. From the regulation on the budget of the civil code to the international accounting principles
- the civil code and the most recent innovations
- national accounting standards
- the process of homologation of international accounting standards and financial reporting
- the new generation accounting directives

2. The approved IAS principles: analysis of the main ones (among which)
2.1. IAS 1 and framework
2.2. IAS 2 inventories
2.3. IAS 11
2.3. IAS 16 fixed assets and plant
2.4. IFRS 16 leases
2.5. IAS 38 intangible assets
2.6. IAS 36 impairment
2.7. IAS 40 real estate investments
2.8. IFRS 9, IAS 39 - IFRS 7 financial instruments
2.9 IFRS 3 business combinations
2.10 IFRS 4 insurance contracts

Part II - 30 hours
1. Concrete applications of the accounting standards examined
2. Practical case: analysis of an IAS - IFRS balance sheet for an industrial sector company
3. The projects currently underway at the IASB: outline of the main new elements
4. The balance between financial accounting and management accounting
5. The accounting models for the preparation of the financial statements

Zanda G, Il bilancio delle società, Lineamenti teorici e modelli di redazione, Giappichelli, 2007
S. Pucci, L’iscrizione nel bilancio delle società quotate delle operazioni di gestione del rischio finanziario, Giappichelli, Torino, 2010

Lecture notes prepared by the teacher already published on the faculty website

Readings chosen from those selected by the teacher and indicated in the classroom
Other support material indicated from time to time in the classroom

It is possible to provide part of the material in English

Second part of the Course
The main characteristics of the Italian procutive system
Productivity
Research and development
Italian internationalization
Firms' internationalization
Global Value Chains

Second part of the Course
Giunta A., Rossi S., (2017) "Che cosa sa fare l'Italia", Rome, Laterza, chapters: II, III, IV

1° Unit (Prof. Mauro Paoloni)

1. An overview of Corporate Governance
2. The Board of Corporate Governance and other bodies: structure, composition, roles and mood of operation
3. The Italian Governance systems
4. The structure, composition and the working mechanisms of the control bodies
5. Decision-making theories
6. Creating value for shareholders and stakeholders
7. The decision of dynamic equilibrium between the strategy of the firm, its legal form, the ownership structure, and the governance structures
8. The relation between strategy, ownership, and mechanism of govern
9. Case studies: Enron, Cirio, Parmalat

2° Unit (Prof. Salvatore Monni)
1. The Chinese economy
2. The Corporate Governance of Chinese enterprises
3. The cooperative
4. The Italian' cooperative
5. The Chinese' cooperative
6. Workers’ buyout

J. Solomon, A. Solomon (last edition), Corporate Governance, Wiley, UK (Chapter: 1; 2; 4; 7; 9; 10)

Bernardi, A (2016) “ G: Gung Ho” in Bernardi, A., Monni,S. (2016), The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 51-59.
Birchall, A (2016) “C: Control and Governance” in Bernardi, A., Monni,S. (2016) The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 29-32.
Bernardi, A., Monni,S. (2016) “Zeitgeist, Educating diversity ” in Bernardi, A., Monni,S. (2016),The Co-operative Firm Keywords. Rome: Roma TrE-PressRoma:167-175.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: l’esperienza italiana” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 16-29.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: definizioni e caratteristiche” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 8-15.

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

AA.VV, Diritto del governo societario, diretto da M. Irrera, Giappichelli, da p. 1 a p. 585

First part – Valuing a business
Definition of business value.
Business value and strategic value.
The relative approach to valuation (market prices and multiples).
The valuation techniques based on the firm's fundamentals.
The income methods:
- valuing the expected income (economic income or cash flow);
- valuing the discount rate;
- valuing the firm expected life and the terminal value.
Examples on the income methods.
The book value methods.
Valuation of intangible assets.
Firm value and equity value.
The application of “EVA model” to business valuation.
Second part: case studies
Valuing a bank.
The valuation of a distressed business.
Valuing a group of companies.
The valuation of human capital.
The valuation of brands.
Meetings with managers and business valuation experts
Third part – Principles of Business Valuation
Cash Flow Management in the Value Creation Process.
Normalizing Operating Earnings.
Financing a Leveraged Buy-Out.
Managing a post-LBO acquired Company.
Valuing a Changing Perimeter Business.
Valuing Sport Franchises and Automobile Dealership.
The Mechanism of a Private Equity Fund.
A Private Equity Approach to Valuation.

A. DAMODARAN, The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses, Pearson, NJ, 2018.
S.P. PRATT, Valuing a Business, McGraw-Hill, New York, 2009, capp. 7, 15, 16, 17.
R. THOMAS, B.E. GUP, The Valuation Handbook, Wiley, Hoboken, 2010, capp. 18, 19, 20, 21, 22, 23.

The course is divided into teaching modules:

Module I
1) Business concentrations and groups
a) Business concentrations: form and purpose
b) The group of undertakings in business doctrine
c) The group of undertakings in the national legal order:
- The concept of control pursuant to Article 2359 of the Italian Civil Code.
- The notion of control for the purposes of Legislative Decree 127/91
- Management and coordination activities pursuant to Article 2497 of the Italian Civil Code
d) The group of companies in international accounting standards
2) Shareholders' agreements and golden share as a mode of corporate domination
3) The economic and financial advantages of groups of companies
a) Size economies
b) Economies of scale
c) Use of leverage and leverage
d) Additional advantages peculiar to the group of undertakings
4) Business and group profitability
5) Legal instruments for the protection of corporate minorities
6) Methods of classification of company groups
a) Based on the degree of economic and/or productive integration
b) According to the way in which the holdings making up the complex are controlled
c) Based on the morphology and/or geographical extent of the aggregate
d) According to the legal nature of the parent company
7) Strategies for the constitution of business groups
a) Acquisition of controlling interests
b) Contribution of controlling interests
c) Transfer of business units
d) Company spin-off
8) Leveraged buy-out transactions and financial assistance
a) Concept and purpose of financial assistance
b) The bond issue
c) Structuring of a leveraged buy-out transaction
d) Types of leveraged buy-out transactions
9) Business group morphologies
a) The pyramidal structure and the lever action: in-depth study
b) Groups with chain structure

Module II
1) The logical-scientific approach to the consolidated financial statements: purpose, genesis and structures
2) The definition of the consolidation area according to national and international regulations
3) Consolidation methods for equity investments
a) Integral method
b) Proportional method
c) Equity method
4) Consolidation theories:
a) The Entity Theory
b) The Property Theory
c) Parent Company Theory
d) The Modified Parent Company Theory
5) The logic of pre-consolidation and consolidation elaborations according to national regulations and international accounting standards
a) The elimination of intra-group transactions
b) Valuation of equity investments excluded from the scope of consolidation
c) The nature and accounting treatment of consolidation differences
d) Translation of financial statements expressed in a non-accounting currency
6) The Acquisition Method and the Full Goodwill Method
7) Preparation and analysis of consolidation statements according to national regulations and international accounting standards
8) The Equity Method for the valuation of participations
9) Exercises and practical cases

Adopted books:

Module I
– Paoloni M., Celli M., Dall’economia d’azienda all’economia dei gruppi aziendali, Giappichelli, 2011

Module II
- Gallimberti C., Marra A., Prencipe A., Consolidation. Preparing and Understanding Consolidated Financial Statements under IFRS, McGraw-Hill, 2013

During the course, additional teaching materials (including periodic and final practice tests) will be made available to students on the teaching webpage.

1° Unit (Prof. Mauro Paoloni)

1. An overview of Corporate Governance
2. The Board of Corporate Governance and other bodies: structure, composition, roles and mood of operation
3. The Italian Governance systems
4. The structure, composition and the working mechanisms of the control bodies
5. Decision-making theories
6. Creating value for shareholders and stakeholders
7. The decision of dynamic equilibrium between the strategy of the firm, its legal form, the ownership structure, and the governance structures
8. The relation between strategy, ownership, and mechanism of govern
9. Case studies: Enron, Cirio, Parmalat

2° Unit (Prof. Salvatore Monni)
1. The Chinese economy
2. The Corporate Governance of Chinese enterprises
3. The cooperative
4. The Italian' cooperative
5. The Chinese' cooperative
6. Workers’ buyout

J. Solomon, A. Solomon (last edition), Corporate Governance, Wiley, UK (Chapter: 1; 2; 4; 7; 9; 10)

Bernardi, A (2016) “ G: Gung Ho” in Bernardi, A., Monni,S. (2016), The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 51-59.
Birchall, A (2016) “C: Control and Governance” in Bernardi, A., Monni,S. (2016) The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 29-32.
Bernardi, A., Monni,S. (2016) “Zeitgeist, Educating diversity ” in Bernardi, A., Monni,S. (2016),The Co-operative Firm Keywords. Rome: Roma TrE-PressRoma:167-175.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: l’esperienza italiana” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 16-29.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: definizioni e caratteristiche” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 8-15.

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

The course is divided into teaching modules:

Module I (The Company)
The company
Economical, systematic and business purposes
The government of the company: content and purpose
Company strategy and policy

Module II (Business Crises)
Corporate crises: types and causes
The small business crisis
Techniques and models for predicting business crises
Criteria for corporate crisis management

Module III (Business Crisis Management Mode)
Extra-judicial strategies and tools for corporate crisis management
Industrial plans

Module IV (Accounting Insights)
Nature of the accounts and their location in the balance sheet
Foreign currency transactions
Write-down and write-back of depreciable assets
The Equity Method for the valuation of equity investments
Warehouse valuation (Lifo, Fifo, Cmp)

Books adopted:

Module I
- Besanko D., Dranove D., Schaefer S., Shanley M.T., Economics of Strategy, Wiley, 2015

Module II and III
- Bernstein J., Manager’s Guide to Crisis Management, Briefcase Books, 2011
- Teodori M., Analisi di bilancio, Giappichelli, 2017

Module IV
- The accounting books adopted in the following courses of the three-year degree course: Introduction to Accounting for Businesses; Financial Accounting.

During the course the teacher will make available to the students, on the course webpage, further teaching materials (including periodic and conclusive practice tests).

AA.VV, Diritto del governo societario, diretto da M. Irrera, Giappichelli, da p. 1 a p. 585

Planning and control (English version):

- The information system for the managerial decision-making process
- Development of planning and budgeting functions
- The decision-making process
- Strategic planning: definition of strategy, levels of strategy (corporate strategy, business area/unit strategy, business strategy), phases of the strategic process, portfolio analysis, portfolio matrix, critical success factors
- Models of organizational growth and development. Planning topics: external growth and globalization, flexibility, just in time model, outsourcing, total quality management, cost leadership, business process reengineering, benchmarking
- From strategic planning to budgeting. The budget and its elements.
- A systemic approach to control: goals and principles. Operating control, managerial control and strategic control. Effectiveness and efficiency: definitions and indicators.
- Control requirements: methods, accounting systems (financial accounting, cost accounting, standard cost, budget, variance analysis) and organizational structure (responsibility centers). Costing systems: Direct costing - full costing Activity Based Costing.
- Reporting. Performance Evaluation Models (Balanced Scorecard, Performance Prism, Common Assessment Framework)
- Case Study

[

Garrison, Norreen, Brewer, Managerial Accounting, 16th Edition, McGraw-Hill International Edition (all chapters)

Slides and articles on the website

Modul I - 30 hours
1. From the regulation on the budget of the civil code to the international accounting principles
- the civil code and the most recent innovations
- national accounting standards
- the process of homologation of international accounting standards and financial reporting
- the new generation accounting directives

2. The approved IAS principles: analysis of the main ones (among which)
2.1. IAS 1 and framework
2.2. IAS 2 inventories
2.3. IAS 11
2.3. IAS 16 fixed assets and plant
2.4. IFRS 16 leases
2.5. IAS 38 intangible assets
2.6. IAS 36 impairment
2.7. IAS 40 real estate investments
2.8. IFRS 9, IAS 39 - IFRS 7 financial instruments
2.9 IFRS 3 business combinations
2.10 IFRS 4 insurance contracts

Part II - 30 hours
1. Concrete applications of the accounting standards examined
2. Practical case: analysis of an IAS - IFRS balance sheet for an industrial sector company
3. The projects currently underway at the IASB: outline of the main new elements
4. The balance between financial accounting and management accounting
5. The accounting models for the preparation of the financial statements

Zanda G, Il bilancio delle società, Lineamenti teorici e modelli di redazione, Giappichelli, 2007
S. Pucci, L’iscrizione nel bilancio delle società quotate delle operazioni di gestione del rischio finanziario, Giappichelli, Torino, 2010

Lecture notes prepared by the teacher already published on the faculty website

Readings chosen from those selected by the teacher and indicated in the classroom
Other support material indicated from time to time in the classroom

It is possible to provide part of the material in English

Second part of the Course
The main characteristics of the Italian procutive system
Productivity
Research and development
Italian internationalization
Firms' internationalization
Global Value Chains

Second part of the Course
Giunta A., Rossi S., (2017) "Che cosa sa fare l'Italia", Rome, Laterza, chapters: II, III, IV

1° Unit (Prof. Mauro Paoloni)

1. An overview of Corporate Governance
2. The Board of Corporate Governance and other bodies: structure, composition, roles and mood of operation
3. The Italian Governance systems
4. The structure, composition and the working mechanisms of the control bodies
5. Decision-making theories
6. Creating value for shareholders and stakeholders
7. The decision of dynamic equilibrium between the strategy of the firm, its legal form, the ownership structure, and the governance structures
8. The relation between strategy, ownership, and mechanism of govern
9. Case studies: Enron, Cirio, Parmalat

2° Unit (Prof. Salvatore Monni)
1. The Chinese economy
2. The Corporate Governance of Chinese enterprises
3. The cooperative
4. The Italian' cooperative
5. The Chinese' cooperative
6. Workers’ buyout

J. Solomon, A. Solomon (last edition), Corporate Governance, Wiley, UK (Chapter: 1; 2; 4; 7; 9; 10)

Bernardi, A (2016) “ G: Gung Ho” in Bernardi, A., Monni,S. (2016), The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 51-59.
Birchall, A (2016) “C: Control and Governance” in Bernardi, A., Monni,S. (2016) The Co-operative Firm Keywords. Rome: Roma TrE-Press, Roma: 29-32.
Bernardi, A., Monni,S. (2016) “Zeitgeist, Educating diversity ” in Bernardi, A., Monni,S. (2016),The Co-operative Firm Keywords. Rome: Roma TrE-PressRoma:167-175.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: l’esperienza italiana” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 16-29.
Monni, S., Novelli, G., Pera, L., Realini, A. (2017) “Workers’ buyout: definizioni e caratteristiche” in Demartini, P., Monni, S. (2017), Workers’ buyout Corporate Governance e sistemi di controllo. Rome: Roma TrE-Press, Roma: 8-15.