wir839 - Financial Statement Analysis and Equity Valuation (Veranstaltungsübersicht)

none

during semester

portfolio

By the end of the course students should have answers to the following questions: • How are fundamental values (or “intrinsic values”) estimated? • How are business strategies analyzed in order to understand the value they create? • What business activities determine value? • How is “value created for shareholders” identified? • How does one pull apart the financial statements to get at the relevant information for valuing equities? • What is the relevance of cash-flows? Of dividends? Of earnings? Of book values? • How does ratio analysis help in valuation? • How does profitability tie into valuation? • What is growth? How does one analyze growth? How does one value a growth firm? • How does one analyze the quality of financial reports? • How does one deal with the accounting methods used in financial statements? • How is financial analysis developed for strategy and planning? • What determines a firm's P/E ratio? How does one calculate what the P/E should be? • What determines a firm's market-to-book (P/B) ratio? How does one calculate what the P/B should be? • How does one evaluate risk? For equity? For debt? • How does one evaluate an equity research report? • How does one trade on fundamental information?