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.
Robert Stoumbos joined Columbia University in 2017 after studying for his Ph.D. at Yale University. He teaches financial statement analysis in Columbia Business School’s MBA program. Prior to his doctoral studies, he worked as a CPA in Ernst & Young’s tax and advisory practices, and received a Master of Professional Accounting degree from the University of Washington. Professor Stoumbos primarily...