财务报表分析

This course is of interest to those contemplating careers in investment banking, security analysis, consulting, private equity, public accounting, and corporate finance. It will also help with personal investing.This course is about the analysis of financial information, particularly firms’ financial statements, for corporate valuation and making investment decisions.(1)The primary focus is on equity (share) valuation. When buying a share in a firm, the investor wants to know what a reasonable price is to pay. What is the firm worth? The course explains how to answer that question by analyzing information.(2)The methods of fundamental analysis will be covered in detail and applied in cases and projects involving listed companies.(3)As financial statements contain considerable information about firms, the course involves financial statement analysis.(4)The course does not “assume market efficiency.” Rather, it develops the techniques for challenging traded prices in order to assess whether investments are appropriately priced.The course will be in the form of lectures, discussions, exercises, and cases, and will involve course projects. By the end of the course, the student should feel competent in writing a thorough, credible equity research report or investment analysis that meets the standards of professionalism.