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59806-01 - Lecture: Analysis of Financial Statements for Decision Makers (3 CP)
| Semester | fall semester 2025 |
| Course frequency | Every fall sem. |
| Lecturers | Ulf Schiller (ulf.schiller@unibas.ch, Assessor) |
| Content | This course is addressed to decision makers in firms and in the economy. The aim is to help managers and economists to understand the information that is conveyed by financial statements. We start with the axiomatic properties of financial statements and then develop the fundamentals of financial statement analysis. To this end, we identify value drivers of a firm’s equity. Moreover, we examine key elements that help to understand value growth. Tentative schedule 1. How do managers create value? 2. What is profit? Fair value accounting vs cost based accounting 3. A quick tour through the accounting universe 4. The residual income conservation property 5. Group accounting and goodwill 6. Uncertainty and valuation (cases: nuclear power plants; pension funds) 7. Case study: The real estate industry 8. Profitability 9. Core Income 10. Case: cost of green energy vs cost of fossil energy 11. Forecasting growth |
| Learning objectives | Understand the axiomatic principles behind financial statements Understand the properties of cost-based vs fair-value based accounting Learn to distinguish between operating and financial earnings Understand rates of return Understand core profits Understand the drivers of growth |
| Bibliography | Stephen Penman (2013): Financial Statement Analysis and Security Valuation, 5th ed 2013, ISBN 978-007-132640-4 |
| Weblink | ADAM |
| Course application | 1. If you are interested in participating, please send an email to Prof. Ulf Schiller (ulf.schiller@unibas.ch) by September 15, 2025, 11 am. Please indicate your name, study program, number of semesters and matriculation number. Please make sure that you are registered for the fall semester and have paid the semester fees before the course starts. Eucor-Students and mobility students of other Swiss Universities or the FHNW also have to register at the University of Basel BEFORE the enrolment deadline and receive their login data by post (email address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/en/Studies/In-My-Studies/Mobility.html 2. You will then be notified if you have been admitted to the course. 3. A deregistration is possible until September 18, 2025. 4. Your registration will be entered in your Online Services only after the official deadline of the course registration period, i.e. after October 13, 2025. 5. The following applies to everyone: enrollment = registration for the exam/assignment! In case of non-participation after registration it will be noted as "nicht erschienen" in the transcript. |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Auditorium |
Dates
| Modules |
Module: Business Field: Management Accounting (Master's Studies: Business and Technology) Module: Fundamentals in Finance and Money (Master's Studies: Finance and Money) Module: Selected Subjects of Economics and Jurisprudence (Master's Studies: Actuarial Science) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) Module: Specific Electives in Finance, Controlling, Banking (Master's Studies: Business and Economics) Module: Specific Electives in Marketing and Strategic Management (Master's Studies: Business and Economics) |
| Assessment format | exam |
| Assessment details | written exam: tbd repeat exam: tbd IMPORTANT: For courses with a main lecture exam, a repeat exam is offered in addition to the regular examination date.This repeat examination can only be taken if the student has taken part in and failed the regular examination (grade < 4.0) see English translation of the study guide of our master programs by December 13, 2021: Paragraph 4.13.4.1. |
| Assessment registration/deregistration | Registration/deregistration: teaching staff |
| Repeat examination | one repetition, best attempt counts |
| Scale | 1-6 0,1 |
| Repeated registration | one repetition |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |