The module provides the students with the knowledge to read, interpret and analyse financial statements using an IT tool in order to make informed business decisions regarding investment, credit, or resource allocation. Such skills are required for equity and credit analysts, executives, bankers, auditors, consultants and other users of financial information.
Financial statement analysis represents a crucial part of fundamental analysis (FA), which aims at defining the intrinsic value of a company. The company´s value is the basis for determining the target price of a company’s stock, i.e. an estimate of a stock's future price based upon earnings forecast and assumed valuation multiples. Financial statements translate economic factors like assets, sales, margins, cash flows, and earnings into accounting numbers. This module focuses on how cash flows are generated, by considering management and strategic aspects of the business, and the risk related to the business from a financial and operational perspectives. The first half of the course develops an accounting-based valuation framework that integrates a firm's strategy, business model and intellectual capital, with its overall performance. The second part specifically concentrates on the analysis of economic and financial performance, with a focus on profitability, liquidity and solvency.
The objective is that the student after the module possesses the necessary knowledge on:
The objective is that the student after the module possesses the necessary skills in:
The objective is that the student after the module possesses the necessary competences in:
For information see § 17.
|Name of exam
|Financial Statement Analysis
|Type of exam
Written or oral exam
|7-point grading scale
|Type of grading
|Criteria of assessment
|The criteria of assessment are stated in the Examination Policies and Procedures
|Language of instruction
|Location of the lecture
|Responsible for the module
|Study Board of Economics and Business Administration
|Aalborg University Business School
|Faculty of Social Sciences and Humanities