Codice identificativo insegnamento: 096078
Programma
sintetico: The course Accounting Finance & Control (AFC)
aims at providing theoretical frames and instruments to understand and
manage "numbers" and "key information" for enterprises.
The course aims at enabling future engineers to: -Understand which are key
information and numbers to support companies in pursuing enterprise value.
Interpret enterprise sustainability through economic and financial trends.
- Measure, analyze and manage enterprise performances and the contribution
of different organizational areas. -Analyze financial needs in face of
present and future (forecasted) trends, assessing alternatives to cover
these needs (equity and debt). -Be able to interact, through key numbers,
with enterprise stakeholders.
o The “Accounting, Finance and
Control” (AFC) domain: the role of financial accountants and controllers
and its evolution over time
o The “AFC” organizational unit within the
enterprise
o The main activities performed by the “AFC” organizational
unit o Accounting-based Performance Measures. The application to a real
case: the analysis of consolidated financial statements of a business group
o
Value Based indicators: Discounted Cash Flow techniques. Enterprise Value
vs. Equity Value. The calculation of Free Cash Flows. The discounting
factor: the cost of capital. Relative Valuation.
o Value Drivers
(non-financial performance measures and risk indicators)
o The
“Planning” phase: the elaboration of operating, capital and cash flow
budgets, and financial planning.
o The “Control” phase: periodic
management reporting. The structure and content of management reports.
Corporate dashboards and balanced scorecards.
o Measuring and reporting
performance of internal responsibility centres.
The performance of
internal profit/investment centres (Business Units, Divisions). Corporate
costs allocation and transfer pricing.