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Financial Statement Analysis and Valuation

Fall 2009 EMBA Course

B7110-001: Financial Statement Analysis and Valuation

2010 Spr/Sum & Global 2010, Menu D, does not meet until 9/25 after Add/Drop ends - 04:00AM to 05:00AM

Instructor: Stephen Penman

This course helps students understand how firms communicate through financial statements. They learn how to:

  • use financial statement analysis as an integral part of the strategic analysis of firms;
  • interpret financial statements, analyze cash flows, make judgments about earnings quality and uncover hidden assets and liabilities;
  • apply financial statement analysis prospectively to forecast and value firms by applying modern accounting-based technologies.

Students are also exposed to the latest academic research on fundamental analysis. The course has a very practical emphasis, with a wide variety of cases, in-class exercises and a group project, all involving comprehensive analyses of publicly traded companies.