*** ACC 312 is required for ACC 318. ACC 312 must be completed or taken concurrently with this course.
Financial Statement Analysis --- This course provides you with a systematic framework for business analysis and equity valuation using financial statement, data and demonstrates how to apply this framework to a variety of investment, lending, and reporting decisions. The class introduces tools to analyze a firm's financial performance to date, forecast the firm's future performance, and estimate the firm's intrinsic value implied by your forecasts. The course is case-oriented and places heavy emphasis on illustrating the latest techniques and information sources used by Wall Street professionals. The course also integrates recent forecasting and valuation findings from academic research. The student should leave the course with the ability to generate reasonably accurate (or at least logically consistent) forecasts of a firm's future financial performance, including revenues, earnings and free cash flows. The class also presents all the major valuation models in a unified framework so the student should be facile in moving between discounted cash flow models, residual income models and models based on market multiples such as place-earnings ratio and the market to book ratio.