Graduate School of Business . Financial statements are a key product of this measurement process and an important component of firms' financial reporting activities. The objective of this course is not to train you to become an accountant but rather to help you develop into an informed user of financial statement information. While financial statement users face a wide variety of decisions, they are often interested in understanding the implications of financial statement information for the future cash flows and earnings potential of a firm. We will focus on understanding the mapping between underlying economic events and financial statements, and on understanding how this mapping affects inferences about future profitability and liquidity. The following learning objectives will be emphasized: (1) familiarity with the transactions businesses engage in, (2) fluency in accounting terminology, (3) understanding the structure that maps transactions into accounting numbers, (4) understanding the rationale for various accounting methods, and (5) awareness of the judgment involved and the discretion allowed in choosing accounting methods, making estimates, and disclosing information in financial statements.
The first part of the course covers alternative costing methods and illustrates how the resulting cost information can be used to analyze the profitability of individual products and customers. The second part of the course will examine the role of internal accounting systems in evaluating the performance of individual business segments and divisions of the firm. Included in this part are topics related to the choice of internal pricing methods for transferring goods and services across divisions of the firm and the use of financial metrics for assessing the profitability of these divisions. The course is oriented toward the user of financial accounting data (rather than the preparer) and emphasizes the reconstruction and interpretation of economic events from published accounting reports. The course is geared toward students with some familiarity in dealing with financial statement information and allows for deeper coverage and discussion in class. The first part of the course demonstrates how management can rely on internal accounting information to measure and manage the profitability of individual products and customers.
As part of that analysis, we examine alternative costing methods and illustrate how the resulting cost information can be used for decision making. The second part of the course focuses on the role of the internal accounting system in evaluating managerial performance and in coordinating the activities among business units within the firm. Our focus here will be on performance metrics that enable effective decentralization by aligning the objectives of individual business units with the overall corporate goals. The financial accounting course has the general objective of developing students' understanding of the nature, scope, and limitations of accounting information.
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To achieve this objective the course attempts to: (1) develop students' understanding of the conceptual accounting framework, including the objectives of financial reporting, and (2) develop students' ability to understand and critically evaluate the financial disclosures made by corporations. An issue of particular interest will be the managerial incentive aspects of accounting information and disclosures.
The course will cover the development of accounting standards, implementation of these standards, and how to interpret output from these standards. The course highlights intermediate and advanced financial reporting topics including fair value accounting, asset securitization, consolidation including special purpose entities, foreign currency translation, derivatives and hedging, leases, revenue recognition, pensions, and equity compensation. The course also focuses on evaluating emerging financial reporting issues such as proposed financial reporting standards put forth by U. S. This course should help students better understand the environment governing global financial reporting and how firms develop financial statement information within this environment. The course will then focus on how to use them in decision contexts including evaluating profitability, forecasting future earnings and cash flows, selecting an appropriate financial reporting strategy, and assessing risk. Accordingly, the course will focus on several factors essential to this goal.
These include understanding (1) the business environment a firm operates in, its contracting practices and their implications for what accounting principles are applied and what judgments are required; (2) the process that generates accounting numbers and its implications for the quality of those numbers for decision purposes; (3) approaches for assessing the sustainability and growth of a firm's revenues and earnings using financial statement information; and (4) approaches to evaluate earnings quality, the risk of earnings restatements, liquidity and solvency. This course should be of value to students who will be in senior positions within corporations and will determine financial reporting policies, as well as those outside corporations who will make investment or other decisions at least partially based on financial statement information. The perspective taken is that of an outsider relying on publicly available financial information for investment purposes. The course relies heavily upon financial statement analysis tools and the residual income framework for equity valuation.
Through lectures, in- depth case studies, and real- time exercises, the first half of the course covers traditional financial statement analysis- based tools for critically analyzing and assessing a firm's current financial performance and economic condition, including ratio analysis, accounting quality analysis and financial distress / bankruptcy prediction models. The second half of the course introduces the accounting- based valuation framework and develops the link between financial statement analysis, forecasting and equity valuation. Drivers Scanpal 2 Metrologic 9520 there.
The capstone to the course is the completion of a comprehensive, real- time valuation of a publicly traded firm (or registered IPO candidate). The course is structured for students to gain a deeper understanding of the economic pressures behind the valuation creation and valuation process, and will be useful to those students who anticipate making investment or credit decisions at least partially based on historical and prospective financial statement information.
A basic framework will be developed to integrate the many important dimensions of corporate governance in the U. S. The institutional features of corporate governance and executive compensation will be documented using the professional business and legal literatures. In addition, the scientific research in accounting, economics, finance, and organizational behavior will be used to provide insights into the measurement and consequences of observed corporate governance and executive compensation choices. After successfully finishing the course, a student should be able to (i) understand the debates about appropriate choices for corporate governance and executive compensation and (ii) critically evaluate the implications of academic and professional research studies on these controversial issues. Specifically, we review the market for corporate control, discuss strategic and governance issues related to firms' decision to acquire or be acquired, and examine the M& A regulatory environment. We analyze various pricing and deal structure considerations, identify strategies that underlay a successful negotiation, and review the financial reporting and income tax implications of M& A deals. In covering these and other related issues, we will discuss both the theory and practice of mergers and acquisitions.