Study of the concepts and techniques underlying corporate financial statement analysis, with an emphasis on equity valuation models. Prerequisites: BSAD 180; Business Administration major or minor; Senior standing.
Prereqs enforced by the system: BSAD 180; Minimum junior standing; BSAD majors, BSAD minors, ACCT minors, MAcc graduate students only; Open to Degree and CDE students
This course presents fundamental analysis tools for assessing the economics of the firm, with particular emphasis on the valuation of common equity. Heavy reliance is placed on finance theory and extant market research regarding the interplay between financial disclosures and stock prices. Topics considered include ratio analysis on reported and recast financial statement information; analysis of accrual accounting and cash flows; analysis of profitability, growth and value-generating prospects of the firm; determining the quality of earnings and financial reports; forecasting earnings and financial statements; analysis of business and financial risks; and the comparison of alternative equity valuation models. Although U.S. financial reporting practices are emphasized, significant differences in international reporting standards are noted. The content and level of this course is consistent with that expected for Level 1 candidates of the Chartered Financial Analyst (CFA) exam.
Class time will be devoted to a discussion of the outlines and examples contained in the Class Notes. Your presence and involvement are vital to your understanding of the material, so I expect 100% class attendance. If you must miss a lecture due to unavoidable circumstances please notify me in advance. It will be up to you to seek understanding of any missed lecture material on your own.
Grades will follow a conventional 10-point scale with pluses and minuses given (e.g., 80 < B- < 82, 83 < B < 86, 87 < B+ < 89). Exam I 30% Exam II 30% Fundamental Analysis Project: First deliverable (qualitative analysis) 10% Second deliverable (combined qualitative & quantitative analysis) 20% Homework Assignments 10% Total 100%
Ifshin Hall 358 (View Campus Map)
to on Tuesday and Thursday
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