First and foremost, the course aims to provide participants with basic knowledge of the structures and logic that underpin economic measurement in business. Subsequently, the focus shifts to the study of the tools and techniques necessary for in-depth analysis of corporate profitability and, in particular, to the methodologies traditionally developed by the most advanced doctrine and practice for cost analysis and management.
The second module examines the logic the tools normally used in the economic and financial planning process. Also emphasized here are the aspects related to the steering function performed by this important component of diagnostic and interactive control systems. In this regard, the organizational implications of the processes and budgeting and reporting are emphasized.

PRELIMINARY COURSES
Economia aziendale
PREREQUISITES
Basic concepts of financial accounting and financial reporting. A brief summary of cost accounting concepts is however provided early in the course.

PART ONE - Prof. DE ROSA Section One: “The Measurement of Efficiency and Effectiveness in Business” The reasons for and role of measurement in business. Input, process and outcome measures. Difference between output and outcome. Efficiency, effectiveness and yield. Four different types of efficiency measures: operational productivity, financial productivity (cost-effectiveness), assets (gross or net) turnover rates, and return rates. An integrated efficiency analysis scheme: the relationships among its different forms of measurement Cost information and marginality analysis (product, customer, channel, etc.): their function in supporting decision making. Tools and logics for cost and revenues assignment and analysis: managerial accounting The relationships between financial and managerial accounting The production of basic data: “ad hoc” analysis and structured cost systems Fundamentals of Product and Service Costing Section Two: " Logic and algorithms for cost analysis and control" Cost objects and cost rules. The basic taxonomies of costs and revenues for profitability analysis. The cost allocation process: structure, logics and mechanics of implementation. Cost tracing and cost allocation. The different allocation bases: volumetric and structural bases Plantwide versus department-specific cost rates. Departmental Costing and Activity-based Costing (ABC). The effect of unused capacity on cost rates (push approach vs push approach) Complexity as the key driver for long term fixed cost analysis. The modular structure of a costing system. Section Three: "Cost-Volume-Profit Analysis" The basic structure of the CVP model. The underlying assumptions of the model and the peril the pose to current analyses. Practical uses of the model and its shortcomings. The analysis of risk: cost elasticity and degree of operating leverage (D.O.L.). The problems posed by the phenomena of “unsold product” and “unused capacity”. The problems posed by multi-product enterprises. Reporting structure based on contribution margins. PART TWO - Dr. MARINI Section One: "Introduction to Budgeting" Budget purpose and objectives. Budgeting as a tool, as a process and as a system. Knowledge of budgeting essentials. A process organized in three "cycles": the income cycle, the cash cycle and the profitability cycle. The accounting structure of the budget: the planned income statement, cash flow statement and balance sheet. Budgeting sales and business costs. The analysis of sales information. The effects associated with possible changes in sales mixes. Management of distribution channels and sales force: budgeting distribution costs. The production budget: planning production levels and capacity utilization. Inventory management. Production and procurement planning: preventive analysis of economic and financial effects. Bill of materials (BOM): material consumption, cycle lead time. Understanding capacity utilization and cash flows forecasting. Labor costs and the accrual and allocation problems they create. Understanding the relationship between economic budget and capital budget. Section Two: "The structure of the reporting system" The principles, structure and purpose of the reporting system. The attributes of information used for reporting. Timeliness and readiness of information for control. The aggregation of cost and revenue data by responsibility center, product and channel. Drill-down: moving from general information to more detailed information. Knowledge of standard costing essentials. Analysis of variances and feedback processes.

The teaching material (related to both parts and largely written in Italian) is, first of all, made up of an articulated series of readings that will be made available free of charge to University of Trieste students only, on the page dedicated to the current edition of the course that is activated by the lecturers from year to year on the Moodle platform (www.moodle2.units.it) of the University of Trieste. Even those who are enrolled in previous editions must, obligatorily, be familiar with the material related to the most recent edition. In addition, pdf copies of the transparencies projected in the classroom by the lecturers are also provided. Related to the second part is, in addition, required the study of Alberto Bubbio's text, "La guida del Sole 24 ORE al budget," latest available edition. During the course of the lectures, additional lecture material may be identified by the lecturers and distributed in the classroom, which will become mandatory for those attending.

A more extensive version of the syllabus, relative to each of the two parts, will eventually be made available on the Moodle platform by faculty members

The main methodology for knowledge delivery consists of a series of face-to-face lectures combined with the reading of text material specifically selected by the lecturers.
The second part of the course is developed by taking as reference a rather articulated business case, originally developed by Prof. De Rosa for the Il Sole 24 ORE Business School. Such a case leads students to familiarize themselves with the different stages of building a budget. It is also useful in consolidating the general concepts of cost analysis and responsibility accounting introduced in the first part of the course.

Reference texts for those not attending the course:

In addition to those previously mentioned, non-attenders should prepare for the exam using the following bibliographic references:

Kenneth A. Merchant, Wim Van der Stede, Laura Zoni, “Sistemi di controllo di gestione”, Pearson, 2014

LEARNING ASSESSMENT
The methods of assessment differ according to whether or not students can attend the course, in the classroom (not remotely).
For those attending, two partial tests are scheduled with use of the Moodle platform (and, therefore, the use of a laptop computer that must be brought by the student) in which rather articulate sets of closed-ended questions are asked and some numerical exercises are administered. Those who pass these two tests must, in addition, take a simplified oral test in which a topic chosen by the candidate is discussed.
For those, however, who cannot attend class or fail the partial tests, there is a traditional oral test consisting of a series of open-ended questions, part of which may correspond to simple numerical exercises to be performed. Students are required to have understood the concepts and not merely memorized them. As mentioned, they may be asked to solve a few simple problems to test their level of understanding.
The average duration of the oral examination is about 20 to 25 minutes. The exam covers the entire course syllabus.

(4) Quality Education
(8) Decent Work & Economic Growth
(9) Industry, Innovation and Infrastructure