37299 - FINANCIAL ANALYSIS

Conoscenze e abilità da conseguire

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.

Contenuti

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).

Testi/Bibliografia

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

Metodi didattici

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

Modalità di verifica e valutazione dell'apprendimento

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.

Orario di ricevimento

Consulta il sito web di Lorenzo Dal Maso