2024/2025
KAN-CACAO2403U Financial Statement Analysis &
Valuation
| English Title |
| Financial Statement Analysis &
Valuation |
|
|
| Language |
English |
| Course ECTS |
7.5 ECTS |
| Type |
Mandatory |
| Level |
Full Degree Master |
| Duration |
One Semester |
| Start time of the course |
Autumn |
| Timetable |
Course schedule will be posted at
calendar.cbs.dk |
| Study board |
Study Board for cand.merc. and ASC
|
| Course
coordinator |
- Ole Vagn Sørensen - Department of Accounting
(AA)
|
| Main academic
disciplines |
|
|
| Teaching
methods |
|
|
|
Last updated on
20-06-2024
|
| Learning objectives |
At the exam the students must be able to:
- Describe how elements in the annual report are recognised,
measured and classified.
- Prepare analytical income statements and balance sheets
- Analyse a firm's profitability and growth
- Calculate and intepret financial ratios that describe a
firm's economic well-being
- Assess accounting quality in a firm's financial data
- Make proper adjustments to the financial statements to ensure
accounting data have the necessary quality
- Value firms (shares) based on a variety of valuation
models
- Demonstrate the ability to assess strengths and weaknesses of
various valuation models
|
| Course prerequisites |
Students are expected to possess knowledge about
accounting including book keeping at least at the bachelor level.
Admission req.
Bachelor level |
| Examination |
|
Financial
Statement Analysis & Valuation:
|
| Exam
ECTS |
7,5 |
| Examination form |
Written sit-in exam on CBS'
computers |
| Individual or group exam |
Individual exam |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-point grading scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Autumn |
| Aids |
Limited aids, see the list below:
The student is allowed to bring - USB key for uploading of notes, books and compendiums in a
non-executable format (no applications, application fragments, IT
tools etc.)
- An approved calculator. Only the models HP10bll+ or Texas BA ll
Plus are allowed (both models are non-programmable, financial
calculators).
- In Paper format: Books (including translation dictionaries),
compendiums and notes
The student will have access to - Access to the personal drive (S-drive) on CBS´ network
- Advanced IT application package
|
| Make-up exam/re-exam |
Same examination form as the ordinary exam
The number of registered candidates for the make-up
examination/re-take examination may warrant that it most
appropriately be held as an oral examination. The programme office
will inform the students if the make-up examination/re-take
examination instead is held as an oral examination including a
second examiner or external
examiner.
|
|
| Course content, structure and pedagogical
approach |
|
Aim of the Course:
The purpose of 'Financial Statement Analysis and
Valuation' is to provide the students with rigorous tools that
are needed to carry out a
financial statement analysis in relation to at valuation.
Contents:
Accounting information is used by business analyst as input into
the valuation process. The required accounting information depends
on
the valuation model applied (e.g. the discounted cash flow model).
For instance analyst within corporate finance use financial
statement analysis
to determine the historical level of profitability in order to
forecast future earnings.
The course contains the following core elements:
Introduction to the elements of the annual report.
Method for measuring profitability and growth.
Assessment of accounting quality (earnings quality).
Forecasting
Firm valution
Learning process
Research and theory based lectures are mixed with exercises and
cases. Lectures provide the students with the necessary tools to
make financial analyses and valuation.
Through cases the students learn how to apply theory and use a
variety of valution models in practice.
|
| Description of the teaching methods |
The teaching will be a combination of:
Dialog lectures
Discussion of solutions to cases/exercises
Students are responsible for their own learning. They are
encouraged to engage in study groups. |
| Feedback during the teaching period |
Exercise classes entail feedback to students who
have prepared solutions at home. Students will see the
instructor's solution and are encouraged to speak up
in case of deviations between the instructor solutions and their
own solutions.
In-class quizzes may be offered in order to give students a quick
indication of their understanding of each topic.
|
| Student workload |
| Preparation and participation in dialog lectures |
100 hours |
| Preparation and participation in exercises and cases |
80 hours |
| Preparation for exam |
30 hours |
| Exam |
4 hours |
|
| Expected literature |
|
Thomas Plenborg & Finn Kinserdal: “Financial Statement
Analysis: Valuation , Credit analysis and Performance
evaluation" "2nd Edition. Fagbooklaget
(2020)
|
Last updated on
20-06-2024
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