、 LIN, YI-FAN合授

策略性財務分析與企業評價

Every asset (liability) has a value. We just have to find it. The objective of this course is to teach students how to use accounting (financial) information in valuation and, particularly, how to obtain fair value estimates for financial reporting purposes. This course aims to provide students with the knowledge they need to obtain estimates of the fair value either of single financial (possibly nonfinancial) assets and whole firms using intrinsic and relative valuation approaches. Contingent valuation will also be covered in this course. The course covers the mechanics of the accounting process; the foundation for financial reporting; the differences and similarities in income statements, balance sheets, and cash flow statements around the world; examines the implications for securities valuation of any financial statement element or transaction, and shows how different financial statement analysis techniques can provide valuable clues into a company's operations and risk characteristics. In a nutshell, the course starts from business and accounting analysis, followed by financial analysis, and concludes with the discussion of theories of valuation.

1. Financial Statement Analysis by K. R. Subramanyam, 11th edition. McGraw-Hill, 2014.華泰 2. Financial Statement Analysis and Security Analysis by S. H. Penman, 5th edition. McGraw-Hill, 2013.華泰 3. Equity Valuation and Analysis with eVal by R. Lundholm and R. Sloan, 3rd edition. McGraw-Hill, 2013.華泰