business analysis and valuation (6091) instructor: associate professor dr bruce ho tel : (04)...
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Business Analysis and Valuation (6091)
Instructor: Associate Professor Dr Bruce Ho
TEL : (04) 2284-0515 ext 16E-MAIL : [email protected]:2009/3/4
Course Objectives The main goal of the course is to provide students
with a broad, practical perspective to work on financial statement analysis to determine:
1. a reasonable assessment of the financial condition of the firm
2. what may be reasonable forecasts of its future position
3. whether the firm is worthy of credit 4. the operation characteristics of the firm. Also, the course will present a contemporary
framework for business valuation, using financial statement data to accomplish four key steps: analyzing business strategy, assessing accounting policies and estimates, evaluating financial performance, and forecasting a firm’s future.
Course Description Planned Sequence of Topics and /or
Learning Activities 1. A Framework for doing Business Analysis Using Financial Statements 2. Business Analysis Tools 3. Strategy Analysis 4. Accounting Analysis 5. Financial Analysis 6. Prospective Analysis 7. Business Analysis and Valuation 8. Applications
Course Grading
Students are evaluated on the basis of two written exams, one group project and a series of in-class activities. The grade will be weighted as follows:
1. Two written Exams: 50% 2. One Group Project: 30% 3. Class Participation: 20%
Course Textbooks 1. Palepu, Bernard and Healy (2004),
Introduction to Business Analysis & Valuation, South-Western College Publishing
2. Daves P. R., Ehrhardt M. C., Shrieves R.E. (2004), Corporate Valuation: A Guide for Managers and Investors, Thomson South-Western.
3. Copeland T, Koller T, Murrin J (2000), 'Valuation: Measuring and Managing the Value of Companies (3rd Edition), John Wiley & Son
Business Administration (Management)
What is Business? Decide what kind of resource to make
money and get more capital or fund What is Administration (Management)? Decide how to use resource to create
revenue and control cost
What is the purpose of business analysis?
Finding problems (Analyzing the problems) (Erasing the problems) (Predicting problems)
Analyzing Data (Let data do the talking and serve as the departure point of analysis)
Proposing solutions
Examples of commonly problems in business (Business Problems)
1.Cash or Capital Problems ( 資金不足的問題 )
2.Financial Structure Problems ( 財務結構不健全的問題 )
3.Low Profits ( 利潤太少的問題 ) 4.Low revenues ( 收入不足的問題 )
Examples of commonly problems in Management (Management Problem)
1.Efficiency Problems ( 效率不好的問題 )
2.Quality Problems ( 品質不良的問題 ) 3.Cost problems ( 成本太高的問題 ) 4.Professioinal Knowledge ( 工作知識不 足的問題 )
Important concept for Analysis
Doing Analysis from the whole (從面 ) , Solving problem from the
point (從點 )It means that if you do not use
Systematic Concept to do analysis, you can not find the real problem.
A Framework for Business Analysis and Valuation using Financial Statements
Financial statements are the basis for a wide range of business analysis.
A firm’s financial statements summarize the economic consequences of its business activities.
The role of financial reporting in capital market
From Business activities to financial statement
From Financial statement to Business Analysis