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AC.F308: Financial Statement Analysis


Department: Accounting and Finance NCF Level: FHEQ/QCF/NQF6//RQF6
Study Level: Part II (final year) Credit Points: 15.0
Start Date: 15-01-2018 End Date: 27-04-2018
Available for Online Enrolment?: Y Enrolment Restriction: Fully available to all students
Module Convenor: Dr Z Novotny-Farkas

Syllabus Rules and Pre-requisites

  • The student must take the following modules:
  • The student must take 1 modules from the following group:

Curriculum Design: Outline Syllabus

  • Week 1
    Introduction & Strategy analysis: We discuss the importance of understanding firm fundamentals and introduce some popular strategy analysis frameworks.
    Reading: PHB Chapters 1 & 2

    Week 12 to Week 14
    Accounting analysis: We explore how accounting distortions may affect outsiders' view of firm economics, and discuss possible adjustments to correct the bias.
    Reading: PHB Chapters 3 & 4

    Week 15, Week 16
    Financial analysis: We examine ratio analysis and cash flow analysis as techniques to examine the operating and financial health as well as strategy of different types of firms.
    Reading: PHB Chapter 5

    Week 17 to Week 19
    Valuation: We analyse various common valuation models and the use of price multiples in business valuation. We examine the technical details of modelling, such as the estimation of cost of capital and terminal value. We also explore techniques for forecasting firms' financial statements.
    Reading: PHB Chapters 6-8

    Week 20
    Credit analysis & distress prediction: We focus on financial statement analysis and valuation issues surrounding lenders and credit analysts.
    Reading: PHB Chapter 10

     

     

  • 75% Exam
  • 25% Coursework
  • 75% Report

Assessment: Details of Assessment

  • The mark for the course will be determined on the following basis:

    Tutorial preparation:           4 %

    Group project:                     21 %

    Final examination:               75 %

    Total                                     100 %

    There are four tutorial checks in total. The marks from the best three will count towards coursework average (CWA) mark, each counting one mark. In addition, a completed earnings call report will also count one mark. Hence, 3x1 + 1x1 = 4 marks for the tutorial preparation.

Educational Aims: Subject Specific: Knowledge, Understanding and Skills

  • This course is available to students who have taken one of the following courses, AcF 100 or AcF 263 and (either AcF 261 or AcF 111)
    This course intends to provide you with:
    - Financial statement analysis skills and techniques for deriving inferences from financial statements and related information.
    - A framework for business valuation using financial statement data and other information.
    - Insights into the usefulness and the limitations of financial statement analysis as applied in different decision contexts (e.g., investment decisions, lending decisions, etc.)
    - An understanding of how incentives facing the producers and users of financial statement disclosures affect the content of these disclosures and the inferences they convey.

Contact Information

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