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Accounting and Financial Analysis

While financial statements represent the standard way to analyze past business activities, they are also the primary tool used to forecast future business activities to derive cash flows. We will use a structured framework that allows analyzing the key value drivers of a firm's or projects value. Cash flows are used as inputs in discounted cash flow or net present value analyses. To perform these analyses effectively, students need a solid understanding of the relation between a project's risk, the risk-contribution of its funding with equity or debt, and the return that investors that fund projects require.
Course code
ACCT502
Course type
MSc Course
Weekly Hours
2,5
ECTS
5
Term
HS 2021
Language
Englisch
Lecturers
Dr. Ying Gan, Dr. Michael Erkens
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.
We will cover basic finance concepts such as value and capital budgeting rules, risk and returns, and capital structure. We will also cover basic accounting concepts such as financial ratio analysis, forecasting, and valuation in general.
Date Time
Thursday, 02.09.2021 13:45 - 18:45
Monday, 06.09.2021 08:00 - 13:00
Thursday, 09.09.2021 08:00 - 11:15
Monday, 20.09.2021 15:30 - 17:00
Monday, 04.10.2021 08:00 - 13:00
Thursday, 07.10.2021 08:00 - 11:15
Friday, 08.10.2021 08:00 - 11:15
Wednesday, 13.10.2021 13:30 - 15:00
Wednesday, 20.10.2021 14:00 - 15:30
- Intermediate Accounting - IFRSedition;Kieso, Weygandt, Warfield; 3rdedition - Corporate Finance; Welch, 4th edition (available for freeviahttp://book.ivo-welch.info/home/)- Equity Valuation and Analysis, Lundholm and Sloan, any edition is fine (available via the library)- Line-Item Analysis of Earnings Quality, Melumad/Nissim (available for free viahttp://www.columbia.edu/~dn75/Line-Item%20Analysis%20of%20Earnings%20Quality.pdf)
Lectures based on conceptual examples, theoretical and practical exercises, and accessible scientific evidence. There will be exercises to revisit the concepts from the lectures (primarily on a voluntary basis).
Exam
Because the course is right at the beginning of students Master studies, the only prerequisite is some memory of introductory Finance and Accounting classes at the BSc level.
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