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Politecnico di Torino
Academic Year 2016/17
06ARHPI, 06ARHMQ, 06ARHPL
Economics and business organization
1st degree and Bachelor-level of the Bologna process in Engineering And Management - Torino
1st degree and Bachelor-level of the Bologna process in Mathematics For Engineering - Torino
1st degree and Bachelor-level of the Bologna process in Engineering And Management - Torino
Teacher Status SSD Les Ex Lab Tut Years teaching
Neirotti Paolo ORARIO RICEVIMENTO O2 ING-IND/35 40 40 0 0 11
Paolucci Emilio ORARIO RICEVIMENTO PO ING-IND/35 80 0 0 0 7
SSD CFU Activities Area context
ING-IND/35 8 B - Caratterizzanti Ingegneria gestionale
Subject fundamentals
The course has the aim of providing students with the basic economic and managerial knowledge necessary for attending the bachelor program in Engineering and Management. It contains two parts, carried out in an integrated manner.
The first part focuses on Financial Accounting. The purpose and structure related to the Financial Accounting will be discussed, the main operations that characterize the functioning of a company, and the way they are represented in the financial statements (for example sales of products/services, warehouse management, etc...). Furthermore, the way information is analyzed for understanding the economic and financial performance of a company will be discussed. To this end, the profitability and productivity concepts presented in the first part of the course will be consider for showing the ways the Financial Accounting provides information about the company performance.
The second part of the course aims to deepen the main methods of the management accounting used by the company to plan and evaluate strategic and operational decisions. For example, the course will present methods for understanding how managing the production capacity of facilities as short run decision, expanding production capacity, increasing the types of products produced by evaluating the profitability of new products and current ones, outsourcing some to third parties, etc. In this part, the student will understand how the system, related to the costs management associated to products/services, works in a company. Additionally, the budgeting process will be presented and the main methods and indexes for analyzing the investments of a company in the medium-long run decisions.
Expected learning outcomes
At the end of the course, students will be able to understand the structure of the financial statements, the main opening and closing methods related to the Financial Accounting, and the methods of planning and control that are at the base of the main strategic and operational decisions.
The course will therefore contribute to the preparation of the student with methods and elements that will be useful in all courses of Engineering and Management.
Prerequisites / Assumed knowledge
Elements of mathematical analysis.
Contents
First part
- Financial Accounting: Introduction: objectives of the Financial Accounting; the Financial Accounting principles; double entry concept; elements of the financial statement; the writing rules.
- Financial statement analysis: objectives and methods related to the reclassification of the Balance Sheet and Income Statement. Profitability ratios, liquidity ratios, productivity and monetary cycle. Analysis of the cash flows.

Second part
- Management Accounting: methods of cost classification and cost configurations. The cost centers. The allocation of indirect costs from the service centers to products. The main cost systems: accounting based on order or process; Activity Based Costing. The use of the cost configurations for short-term decisions: break-even point analysis, the choice of optimal mix of products, the "make or buy" decisions. Planning and cost control as the master budget.
- Capital Budgeting: the concept of investments and the differences with the costs presented in the other two parts of the course. The cost of capital used by the company. Principles of Financial Mathematics. The cash flows analysis of an investment. The Net Present Value method. Other indexes and qualitative considerations for the evaluation of investments.
Delivery modes
Exercises complement the lectures. They have the form of problems and case studies solved in the classroom.
Texts, readings, handouts and other learning resources
1. Slides and exercises (solved and not solved) prepared by the professors.
2. Create McGraw-Hill Italia collection, composed by the chapters of the following books:
a. Il bilancio 14/ed - Analisi economiche per le decisioni e la comunicazione della performance di: Robert N. Anthony, David F. Hawkins, Diego M. Macrž, Kenneth A. Merchant (for Part 1).
b. Programmazione e controllo 3/ed. Ray H. Garrison, Eric W. Noreen, Peter C. Brewer (for Part 2).
3. Exercises at the end of each chapter of each book chapter.
4. Connect platform McGraw-Hill (true or false).
Assessment and grading criteria
The exam includes a written test lasting 2 hours and 15 minutes and an optional oral test. The written exam is organized in four exercises, divided into two parts with a weight of 14 and 16 points respectively. The first part concerns the Financial Accounting (rules of Financial Accounting and financial statement analysis). The second part focuses on Management Accounting and Capital Budgeting.
The oral exam has an integrative nature and thus it can lead to a review of the overall grade just of two points upward. There is no oral examination for insufficient grades. The instructor can require an additional oral exam, with a prior notice of two working days, in case the final grade is between 16 and 18 points.

Programma definitivo per l'A.A.2016/17
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