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| Semester | fall semester 2020 |
| 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 | Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
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No dates available. Please contact the lecturer.
| Modules |
Module: Electives (Master's Studies: Business and Economics) |
| Assessment format | end-of-semester examination |
| Assessment details | Midyear exam and end-of-term exam. Each counts 50%. Details will follow. Midterm: 26.10.20; 12:15-13:15. You will receive the room and place list by email. written exam: 21.01.21; 10:15-11:15. Electronic Exam. In case COVID-19 protective measures prevent examination on site, the faculty reserves the right to conduct the examination electronically during the same time slot. The exam rooms will be published up to 05.12.20. |
| Assessment registration/deregistration | Registration: course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |