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Advanced Financial Statement Analysis

  • Enseignant(s): S.Morricone
  • Titre en français: Analyse Financière Avancée
  • Cours donné en: anglais
  • Crédits ECTS: 3 crédits
  • Horaire: Semestre de printemps 2017-2018, 2.0h. de cours (moyenne hebdomadaire)
  •  séances
  • site web du cours site web du cours
  • Formations concernées:
    Baccalauréat universitaire ès Sciences en management

    Baccalauréat universitaire ès Sciences en économie politique

 

Objectifs

The purpose of this course is to advance students skills in analyzing and evaluating accounting information. In particular, students will be exposed to practical valuation issues in order to gain a comprehensive understanding of firms’ performance, accounting quality, and corporate governance practices.

Contenus

The course is built as an advanced module of financial statement analysis (Fall term 2017) and it develops three core parts: Financial analysis, Accounting quality, and Corporate Governance.

By using European cross-sectional data, the financial analysis part focuses on the use of ratios in order to evaluate companies’ profitability, liquidity, and solvency position. Accounting quality assesses the degree financial reporting quality by evaluating firm’s accounting estimates. Finally, the discussion of corporate governance practices aim at identifying the optimal policies in the design of governance systems.

The main themes that will be addressed during the course are the following:

  • Introduction
  • Implementing Financial Analysis;
  • Accounting Quality Evaluation;
  • Assessment of Corporate Governance Practices.

Références

The book chapters and journal articles relevant for each course topic are indicated below:

Financial Analysis:

  • Higgins, R.C., Analysis For Financial Management. 10th edition.

Accounting Quality:

  • Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of accounting and economics, 40(1-3), 3-73.
  • Richardson, S. A., Sloan, R. G., Soliman, M. T., & Tuna, I. (2005). Accrual reliability, earnings persistence and stock prices. Journal of accounting and economics, 39(3), 437-485.
  • Nelson, M. W., Elliott, J. A., & Tarpley, R. L. (2003). How Are Earnings Managed? Examples from Auditors. Accounting Horizons, 17-35.

Corporate Governance:

  • Larcker, D., Tayan, B., Corporate Governance Matters. 2nd edition.

Slides, cases and exercises for class discussion, and other relevant materials will be posted on the Moodle website.

Pré-requis

This course is designed as an advanced module of financial statement analysis (Fall term 2017). Basic knowledge of econometrics and skills in data analysis represent important pre-requisites to be able to follow the course content and assignments.

Evaluation

1ère tentative

Examen:
Sans examen (cf. modalités)  
Evaluation:

The grade is determined as:

  • 80% Project (presentation and report)
  • 20% Assignments

Rattrapage

Examen:
Sans examen (cf. modalités)  
Evaluation:

Same as above.



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