|Unité d'enseignement / ECTS / Parcours/Spécialisation(s)||UE : Essential concepts in financial analysis : 5 ECTS.|
|Ouvert aux visitants||oui (3 ECTS)|
|Nombre de places disponibles||45|
|Langue de travail :||English|
|Volume horaire en présentiel :||20 h|
|Heures de travail totales à prévoir par l'étudiant :||60 h|
Track : Présentiel
|LEARNING GOAL 1 : Students will master state-of-the-art knowledge and tools in management fields in general, as well as in areas specific to the specialized field of management.|
|Students will identify a business organization’s operational and managerial challenges in a complex and evolving environment.|
|Students will understand state-of-the-art management concepts and tools and use them appropriately.|
|Students will implement appropriate methodologies to develop appropriate solutions for business issues.|
The course provides an overview of the key concepts used to conduct a financial and stock market analysis. The introduction points out the growing importance of reliable financial statements in a globalization context. The first part covers the financial accounts. The second part covers the most frequently used measures and techniques to conduct a financial accounts'analysis. In this section, particular attention is paid to value creation for shareholders. The last part covers the tools and techniques used to conduct a stock market analysis.
Oral interaction in class will be facilitated by the numerous quiz which will be answered.
- Explain the growing importance of effective accounting systems and reliable financial documents in the context of an accelerated globalization.
- Describe the nature of the major financial documents (income statement, balance sheet and cash flow statement), their underlying principles and respective interdependencies.
- Demonstrate the fundamental steps of a financial analysis (margin analysis, efficiency analysis, financing, profitability and risk analysis)
- Compute key financial analysis and stock market analysis indicators
- Analyze the accounting ratios and stock market indicators to point out the strengths and weaknesses of a financial situation
- Distinguish between accounting and economic indicators
- Examine risk measures (liquidity ratio, gearing ratio) to point out certain areas of risk such as high financial leverage and distinguish between high returns driven by risk and true value creation
I General introduction
II Financial accounts
1. Accounting: A crucial information source for decision making
2. Profit and loss statement
3. Balance sheet
4. Cash flow statement
5. Statement of changes in equity
6. Relationships between financial statements
III Financial accounts'analysis
1. From financial accounts to financial analysis
2. Profitability analysis
3. Efficiency analysis
4. Value creation and performance measurement
5. Risk analysis and financial leverage
6. How to conduct a financial analysis?
IV Stock market analysis
1. Key financial concepts for shares
2. Market multiples
3. How to conduct a stock market analysis?
V General conclusion
- basic knowledge of financial statements
- Time value of money concepts (NPV, Future value)
Basic knowledge in
- corporate finance
CORPORATE FINANCE: THEORY AND PRACTICE (Paperback) by Pascal Quiry (Author), Maurizio Dallocchio (Author), Yann le Fur (Author), Antonio Salvi (Author)
Publisher: John Wiley
CROSSKNOWLEDGE PLATFORM EM-Essential concepts in finance : the financial statements
CROSSKNOWLEDGE PLATFORM EM-Essential concepts in finance : FINANCIAL ANALYSIS
lettre VERNIMMEN: http://www.vernimmen.net/html/lettre/index.php
Further references to academic litterature can be found at the end of every chapter of the VERNIMMEN textbook
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