21025-V Financial Statement Analysis and Valuation I , 5 sp
The course exposes students to a comprehensive financial statement analysis and valuation framework to be applied to corporate fundamental analysis, integrating strategy, financial reporting, financial analysis and valuation. The course also introduces the student to accounting analysis which includes making accounting adjustments and identifying accounting red flags. Different valuation models are presented.
You have knowledge and skills to analyze companies’ financial statements and strategies and their effects on company value.
- critically examine firm strategies and financial statements when forecasting the future development of a firm’s earnings
- analyze the contents of financial statements to identify accounting red flags and make simple accounting adjustments
- analyze financial ratios and cash flow measures of the operating, financing and investing performance of a company
- use these forecasts to value the firm.
International cases in the class.
Only Hanken degree students with accounting as major subject, degree students within the specialisation General Management and incoming exchange students with any major.
Bachelor thesis (21001) and at least three financial accounting courses.
Incoming exchange students: at least three financial accounting courses.
Lectures, cases and class discussions
134 hours divided into
Scheduled hours: 20 h lectures and 10 h presentations
Non-scheduled work: 114 h
Exam approximately 60%
Course Work (Case) approximately 40% (defined more precisely in the class)
- Palepu, K., Healy, P. & Peek, E. (2016): Business Analysis and Valuation, IFRS edition. Thomson South-Western. 4th edition (main book in the course)
- Besanko, D., Dranove, D., Shanley, M. & Schafer, S. (2010): Economics of Strategy. 5th edition or newer. International student version. John Wiley & Sons. Kap. 12-15. (selected parts)
Students who have completed the earlier course Financial Statement Analysis and Valuation (8 ECTS, course code 2163-v) cannot take this course.