intermediate seminar

Numbering Code U-ECON00 20020 SJ43 Year/Term 2021 ・ First semester
Number of Credits 2 Course Type Seminar
Target Year 2nd year students Target Student
Language Japanese Day/Period Fri.4
Instructor name KUSANO MASAKI (Graduate School of Economics Professor)
Outline and Purpose of the Course The aim of this seminar is to conduct business analysis and valuation using publicly available information, and study the methods for estimating the value of a company. The steps in business analysis and valuation are as follows: (1) Strategy analysis, (2) accounting analysis, (3) financial analysis, and (4) prospective analysis. The primary focus of this seminar will be financial analysis.
Course Goals Acquiring foundational knowledge on financial analysis will enable the students to use quantitative and qualitative information in order to conduct fundamental analysis.
Schedule and Contents In line with our goal of instructing students in financial analysis methodology, we will be working through the following items over the course of one to two weeks, with presenters giving reports, and attendees asking questions and engaging in discussion:

1. Introduction
2. How to read balance sheet
3. How to read income statement
4. How to read cash flow statement
5. Profitability analysis
6. Safety analysis
7. Uncertainty-based risk analysis
8. Growth analysis
9. Introduction to financial statements
10. Analysis of statement of shareholders' equity
11. Analysis of balance sheet and income statement
12. Analysis of cash flow statement
13. Analysis of profitability
14. Analysis of growth and sustainable earnings
15. Conclusion
Evaluation Methods and Policy Grade evaluation will be conducted based on participation (i.e., attendance, reports, comments).
Course Requirements It would be better if students had either already completed, or are currently taking classes in, the following subjects: Introductory accounting, accounting, financial accounting, managerial finance, and management strategy.
Study outside of Class (preparation and review) In line with the lesson plan, students are required to closely read assigned texts before class and prepare some questions on points that require further examination.
Textbooks Textbooks/References Sakurai Hisakatsu, 『財務諸表分析(第8版)』(Chuokeizai-sha), Stephen Penman, 『アナリストのための財務諸表分析とバリュエーション』 (Yuhikaku Publishing)
References, etc. Ito Kunio, 『新・企業価値評価』 (Nihon Keizai Shimbun Shuppan-sha); Otomasa Shota, 『財務諸表分析(第3版)』 (Dobunkan Shuppan)