In line with the educational objectives of the Degree Course in Economics and Business Management, this 3-unit course is designed to help students to develop financial statement analysis skills and business valuation. The course will be relevant for students in Business program of study, and to others who wish to prepare for careers in capital markets, corporate transactions, commercial litigation, mergers and acquisitions, and other related areas.
At the end of the course the student will have acquired and developed:
- an adequate familiarity with the advanced categories of the accountancy tool;
- a solid and rigorous knowledge of the techniques of financial analysis and estimation of the company's value;
- a coherent theoretical and notional apparatus and an appropriate application capacity.
At the end of the course the student will have acquired and developed:
- an adequate familiarity with the advanced categories of the accountancy tool;
- a solid and rigorous knowledge of the techniques of financial analysis and estimation of the company's value;
- a coherent theoretical and notional apparatus and an appropriate application capacity.
Canali
teacher profile teaching materials
Module I –Accounting, Basic
Review of basic corporate financial reports and disclosures that serve as inputs to valuation analysis.
Module II – Financial Statement Analysis
Analysis of financial ratios to measure financial risks and returns; analysis of financial disclosures to identify red flags of potential distress or earnings manipulation;
Module III – Financial Statement Analysis and Debt Sustainability
The module is divided into three interconnected sub-modules.
Sub-module A addresses the issue of capital structure, with reference to debt monitoring tools in the context of financial restructuring as well as post-restructuring alternatives.
Sub-module B analyzes the criteria and the new guidelines for assessing the creditworthiness of a company, focusing on the tools and techniques for analyzing company data as well as on alert indicators for monitoring company financial dynamics.
Sub-module C proposes an in-depth analysis on derivative instruments for hedging purposes in the financial statements of companies, taking into account the assessments necessary to verify their effectiveness. The valuation elements in the absence of listing on the markets as regards unlisted bonds are the subject of in-depth analysis.
Classroom exercises are planned.
E-Book to download from course website (Moodle)
Key reading list
Sutton T (last edition), Corporate Financial Accounting & Reporting, Prentice Hall
Damodaran A. (last edition), Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Wiley Finance
Tutino M., Ranciaro V. (2020), Innovation in Financial Restructuring. Focus on Signals, Processes and Tools, Sumy, Ukraine, Virtus Interpress
Programme
Three modules are scheduled.Module I –Accounting, Basic
Review of basic corporate financial reports and disclosures that serve as inputs to valuation analysis.
Module II – Financial Statement Analysis
Analysis of financial ratios to measure financial risks and returns; analysis of financial disclosures to identify red flags of potential distress or earnings manipulation;
Module III – Financial Statement Analysis and Debt Sustainability
The module is divided into three interconnected sub-modules.
Sub-module A addresses the issue of capital structure, with reference to debt monitoring tools in the context of financial restructuring as well as post-restructuring alternatives.
Sub-module B analyzes the criteria and the new guidelines for assessing the creditworthiness of a company, focusing on the tools and techniques for analyzing company data as well as on alert indicators for monitoring company financial dynamics.
Sub-module C proposes an in-depth analysis on derivative instruments for hedging purposes in the financial statements of companies, taking into account the assessments necessary to verify their effectiveness. The valuation elements in the absence of listing on the markets as regards unlisted bonds are the subject of in-depth analysis.
Classroom exercises are planned.
Core Documentation
Course materialE-Book to download from course website (Moodle)
Key reading list
Sutton T (last edition), Corporate Financial Accounting & Reporting, Prentice Hall
Damodaran A. (last edition), Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Wiley Finance
Tutino M., Ranciaro V. (2020), Innovation in Financial Restructuring. Focus on Signals, Processes and Tools, Sumy, Ukraine, Virtus Interpress
Reference Bibliography
.Type of delivery of the course
Lectures are in-class and are held free times a week. Each lesson lasts two hours. During lectures the theoretical concepts of accounting, finalcial reporting and it analysis. Some lectures are dedicated at the firm evaluation. To achieve the expected learning results, also some exercises are done during lectures. THE LESSONS WILL NOT BE REGISTERED: IT WILL BE POSSIBLE TO PARTICIPATE IN STREAMING EXCLUSIVELY IN SYNCHRONOUSAttendance
Frontal lectureType of evaluation
The exam is made up of a written test (75 minutes) where students have to answer at questions, as well as to do exercises. A sufficient evaluation obtained in the written exam is needed to attend the oral test. Then the final mark arises.