- Docente: Erik Peek
- Credits: 6
- SSD: SECS-P/07
- Language: English
- Teaching Mode: Traditional lectures
- Campus: Bologna
- Corso: Second cycle degree programme (LM) in Business Administration (cod. 0897)
Learning outcomes
The learning objectives for this course are: To help students to further develop a thorough understanding of corporate external reporting practices; To provide students an understanding of how to use financial statement information in analysing a firms performance and financial position; and To help students to understand how to carry out business analysis and valuation through a comprehensive approach, in order to value the equity and debt securities of a firm.
Course contents
This course teaches you how to use financial statement information in analysing a firm's performance and financial position and, ultimately, in valuing the firm's equity and debt securities. Using real-life examples and cases, the course takes you through the four steps of business analysis and valuation, being (1) strategy analysis, (2) accounting analysis, (3) financial analysis, and (4) prospective analysis, in various contexts, including equity analysis, credit analysis, and M&A analysis. The course consists of lectures, interactive discussions and exercises and thus requires active participation.
Lecture One
- Introduction to financial statement analysis;
- Business analysis and valuation framework;
- Conceptual introduction to valuation approaches;
- Accounting Analysis 1: Basics of accounting and accounting institutions and their implications for financial statement analysis.
Literature: Palepu, K., P. Healy, and E. Peek, Business Analysis and Valuation: IFRS Edition, Chapters 1 and 3.
Lecture Two
- Accounting Analysis 2: Accounting adjustments
- Financial analysis
Literature: Palepu, K., P. Healy, and E. Peek, Business Analysis and Valuation: IFRS Edition, Chapters 4 and 5.
Lecture Three
- Forecasting future financial statements
- Valuation: approaches, models and implementation
Literature: References: Palepu, K., P. Healy, and E. Peek, Business Analysis and Valuation: IFRS Edition, Chapters 6 and 7.
Lecture Four
- Valuation continued
- Cost of capital
Literature: References: Palepu, K., P. Healy, and E. Peek, Business Analysis and Valuation: IFRS Edition, Chapters 8.
Lecture Five -4/29/2013
- Other financial statement analysis applications:
o Credit analysis
o Mergers & Acquisitions analysis
Literature: Palepu, K., P. Healy, and E. Peek, Business Analysis and Valuation: IFRS Edition, Chapters 10 and 11.
Slides and class notes
Available (before each lesson) at: https://campus.cib.unibo.it/cgi/users/home
Attention: You need to enrol in the distribution list to access the materials
Slides and class notes
Available (before each lesson) at: https://campus.cib.unibo.it/cgi/users/home
Attention: You need to enrol in the distribution list to access the materials
Readings/Bibliography
Recommended reading
Palepu, K., P. Healy, and E. Peek, Business Analysis and Valuation: IFRS Edition.
A list of recommended background readings will be made available at the start of the courseAssessment methods
Assessment and examination
Type
Weighting
Exercises and participation
40%
Individual written exam
60%
Office hours
See the website of Erik Peek