Accounting and fundraising

Prof. Elena Cantù; Prof. Ivana Pais

COURSE OBJECTIVES

The course’s overall objective isto present the fundamentals of financial management and reporting, with specific reference to arts and cultural organizations. The primary purpose of this course is not to qualify participants either as accountants or as bookkeepers. On the contrary, this course is designed primarily for those who expect to be users of financial statements as part of their professional responsibilities.The course looks therefore at both how financial resources are used, as well as how they are raised. The course is divided into two inter-related modules.In the first module students are expected to learn how to prepare,use and interpret general-purpose financial statements and other forms of performance disclosure in the art and cultural sector. The second module analyses the logic and the main practices of peer-to-peer funding, that is, crowdfunding and social lending.

COURSE CONTENT

Module I: Accounting(Prof. Elena Cantù)

Module I focuses on following themes

–the nature and purposes of financial accounting;

–the preparation of annual financial statements and other annual reports;

–financial statement analysis in the art and cultural sector;

–characteristics of performance disclosure to stakeholders in the art and cultural sector.

Module II: Fundraising(Prof. Ivana Pais)

The module focuses on the main logic of connective action and on the strengths and weaknesses associated with these practices

–definition and models of crowdfunding;

–motivations and deterrents for participation;

–dynamics of success and failure;

–the role of the community.

READING LIST

Module I

Textbook:J.J. Weygandt-P.D. Kimmel-D.E. Kieso,Financial Accounting, IFRS Edition, Wiley, 2016, 3rd edition, ISBN: 978-1-118-97808-5 (Chapters: 1, 2, 3, 4, 14).

Further readings, case studies and exercises will be posted on Blackboard.

Module II

Reading materials will be posted onBlackboard.Additional readings will be posted for students enrolled in the “Accounting and Fundraising course – 8 ECTS”.

TEACHING METHOD

Teaching methods include formal lectures, the discussion of case studies, company speakers.

Class participation is strongly recommended. Students are expected to study all assigned materials and to complete specific homework assignments prior to each class meeting.

ASSESSMENT METHODS

For attending students

–two written exams: onemid-term exam (composed of multiple choices and exercises) that covers the first part of the Accounting module; a final exam (composed of open questions) that covers the second part of the Accounting module and the Fundraising module;

–class participation in the discussion of papers and case studies (from 0 to 2 extra points).

For students enrolled in the “Accounting and Fundraising course – 8 ECTS” the assessment is integrated by a group and/or individual work.

For non attending students

–one comprehensivewritten exam, composed of multiple choices, exercises, open questions. For students enrolled in the “Accounting and Fundraising course – 8 ECTS” the exam will include additional open questions.