37299 - Financial Analysis

Course Unit Page

  • Teacher Lorenzo Dal Maso

  • Credits 9

  • SSD SECS-P/07

  • Teaching Mode Traditional lectures

  • Language English

  • Campus of Bologna

  • Degree Programme First cycle degree programme (L) in Business and Economics (cod. 8965)

  • Course Timetable from Feb 15, 2022 to May 27, 2022

SDGs

This teaching activity contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.

Quality education Decent work and economic growth

Academic Year 2021/2022

Learning outcomes

The course aims to explore the principles of financial analysis. It provides the participants with a framework to understand how businesses' value and risks are captured in financial statements and price them correctly. At the end of the course, students should be able to: (1) understand various techniques in financial statement analysis; (2) apply techniques to assess and compare firms' financial position, performance, and credit risk; (3) understand the limitations of financial statement numbers; (4) extract accounting information to make forecasts and valuations, and (5) select the most appropriate valuation model depending on the company analysed. This course is relevant for students who want to pursue careers in investment banking (particularly in equity research), security analysis, private equity analysis, consulting firms, or corporate finance.

Course contents

This course provides the students with a disciplined framework for the analysis and valuation of firms based on the following five steps:

  1. Industry & Business strategy Analysis;
  2. Accounting Analysis;
  3. Financial Analysis (i.e., Profitability, Risk and Growth);
  4. Prospective Analysis: Forecasting; and
  5. Prospective Analysis: Valuation of Firms.

The above framework will be applied entirely on a final group project (i.e., part of the final grade).

Readings/Bibliography

Wahlen, Baginski, Bradshaw, Financial Reporting, Financial Statement Analysis and Valuation, 9th Edition, 2019 (E-BOOK). Here the link: https://shar.es/aWxkZb

Teaching methods

This course consists of 20 sessions during the 3rd and 4th subcycle of the academic year (total of 60h).

Assessment methods

This is the assessment grid: (a) <18 insufficient; (b) 18-23 sufficient; (c) 24-27 average/good; (d) 28-30 very good; (e) 30 cum laude excellent/outstanding.

Office hours

See the website of Lorenzo Dal Maso