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COURSE SYLLABUS

COURSE INFORMATION

Course: Financial Statement Analysis (FIN 5561) – 3 credit hours

Start/End Date: Aug 21, 2023 – Dec 8, 2023

Location/Room:  Bloch Executive Hall ROOM 213

Time: Mondays @ 5:30 – 6:45pm

Zoom: https://us06web.zoom.us/j/85338002967?pwd=dVpCdm5aT3REcjlQOUlkMVhNZG5nQT09
Meeting ID: 853 3800 2967
Passcode: 683771

Recorded Lectures and Class Youtube site: https://youtube.com/playlist?list=PLqL5y3vkuDFZ1-0-PBu1XL2HcH80ARY7Y

Prerequisites: Completion of introductory course work in accounting, economics, statistics and finance. Basic concepts taught in these pre-reqs are ESSENTIAL. If you need a refresher in concepts like time value of money and the basic accounting cycle, please seek help early in the course. Seriously, this is the #1 cause of failure in this course. We get very technical very fast. The 2^nd most common cause of failure is getting behind in the course so stay up to date because the research project is massive.

INSTRUCTOR INFORMATION

Name: Vern Cushenbery, CPA, CFA (Just call me Vern)

Instructor Availability: Ideally, I would love to be able to say that I check e-mail in real-time and am always available by phone, but realistically I teach this class as a hobby so I try to stay as plugged in as I possibly can. If you reach out and don’t get a response within 24 hours, don’t be shy about pinging me twice. You may call or text the number below if you require a more urgent response.

Email: [email protected]

Phone: (913) 707-1136

COURSE DESCRIPTION

Students will take an in-depth look at the external financial statements that are prepared by corporations, including the tools needed to organize, summarize, and understand corporate financial data for use in decision making. Ratio analysis, trend analysis, earnings forecasting, bankruptcy predictors, statistical models and financial databases are among the topics that will be covered. Prerequisites: Completion of introductory coursework in accounting, economics, statistics, and finance.

COURSE OBJECTIVES

1. Technical Knowledge:  Students will successfully complete projects in corporate finance case analysis that demonstrate key course concepts in the above subject-matter areas.

o Students will understand how to effectively review, interpret and use financial statements to provide solutions to common challenges.

o Students will understand how investment bankers use and interpret financial statement analysis.

2. General Business Knowledge:  Students will demonstrate technical competence in various corporate finance areas that are needed to analyze external corporate financial statements.

o Students will study various complex corporate finance problems that a financial analyst can face when analyzing companies.

o Students will study the fundamentals of analyzing companies and providing solutions to problems.

o Students will learn to use the income and market approach when evaluating a company.

3. Critical Thinking Skills:  Students are able to define, analyze and devise solutions for structured and unstructured corporate finance problems and issues using cohesive and logical reasoning patterns for evaluating information, materials and data.

o Students will demonstrate critical thinking skills by successfully completing unstructured class projects.

o Students will study key components of corporate finance statement analysis including strategy analysis, accounting analysis, prospective analysis valuation analysis, equity analysis, credit analysis, mergers & acquisitions, and communications & governance.

o Students will study how investment bankers use comparable company analysis, precedent transaction analysis, discounted cash flow, LBO analysis, and M&A process.

4. Awareness of Ethics:  Students can recognize ethical problems that occur in corporate finance area within a business.

5. Communication Skills:  Students are able to conceptualize a complex issue into a coherent written statement and oral presentation.

o Students will present an analysis and submit a report solution to a public company class project assignment.

6. Technology Skills:  Students are competent in the uses of technology in corporate finance area.

o Students will demonstrate their understanding of Excel, PowerPoint and library resources by completing class projects and presentations.

7. Entrepreneurship:  Students will demonstrate the fundamentals of creating and managing innovation, new business development and growth-potential entities.

REQUIRED MATERIALS

Easton, P.D., M.L. McAnally, G.A. Sommers, and X.J. Zhang, Financial Statement Analysis & Valuation, 6e, Cambridge Business Publishers, 2018 [ISBN: 978-1-61853-360-9].

There are at least three purchase options which can be found under the “Purchase” tab on the publisher’s website here: https://mybusinesscourse.com/book/financial-statement-analysis-valuation-6e

1. eBook subscription = for 6 months, includes free access code to myBusinessCourse

2. New book purchase = includes free access code to myBusinessCourse

3. myBusinessCourse access only + Used book purchase

myBusinessCourse— Online Learning System (Required)

Follow these four steps (access site):

1. Visit: https://mybusinesscourse.com?code=1095-0002-8479

2. Click "Enroll" (For help see: https://mybusinesscourse.com/support/videos)

3. Create an account/login

4. Enter new book access code OR select “Purchase Access”
Course Name: Financial Statement Analysis (FIN 419/5561) -- (Course ID: 1095-0002-8479)

View the user guide: https://mybusinesscourse.com/user_guide/student
To contact support directly, please visit: https://mybusinesscourse.com/support

ASSIGNMENT OVERVIEW

Individual Homework Solutions:

(1) Online assignments: must be completed in myBusinessCourse, which is a Web-based system. Online assignments are due by 7:00 p.m. CST on the due date. Late assignments may be submitted for full credit, but outstanding assignments make students ineligible to receive any curve that may be applied to exam scores. Most assignments are ‘random,’ meaning that one student receives different numbers than another, and one receives different numbers if an assignment is redone.

(2) Paper/Spreadsheet Work: Preparation for each class may require completion of additional assignments, either on paper or electronically such as with Excel. An important part of the grading of assignments is evidence of a serious attempt at all requirements of the assignments—accordingly, show all work.

Research Project

Select, Analyze and Present a detailed analysis of a publicly traded company: choose (from a list that will be provided) a publicly traded U.S. company to analyze and study. The learning objectives for this assignment are:

· Analyze the selected company’s financial statements using ratios and such other financial techniques learned in this course.

· Draw conclusions regarding the financial “health and well-being” of the company.

· Develop recommendations regarding where improvements are needed in the company’s financial performance and condition.

· Present research to the class including conclusions, and recommendations. Presentation should be no more than 3 minutes. NO SUPPORT MATERIALS ARE ALLOWED.

· Submit written paper summarizing all findings and analysis. Written paper should be of extremely high quality. Examples will be provided. Students should end the course with a report that they feel comfortable submitting to any future employer as a writing sample.

A good source for finding the Financials of a publicly-traded company is the company’s website. Or, Form 10-K (Annual Financial Statement reporting to the SEC) can be found on the SEC’s (Securities & Exchange Commission) website: (Google SEC EDGAR ONLINE – click search for company filings, click company or fund name/ticker symbol, put in ticker symbol, select and print latest 10K). For more information reference the Research Report content folder posted to Blackboard.

GRADING CRITERIA

All written assignments in this course should exhibit college-level skills appropriate for the level of study in grammar and mechanics.  Papers must follow MLA format.  Cite in-text sources in parenthetical format, and include a complete works-cited list at the end of your paper.  Refer to A Writer’s Reference or the MLA Formatting & Style Guide for more information. These aspects of the written work will represent a portion of your grade.

Evaluation:

Ø Homework 200 points  20%

Ø Exam 1          150 points  15%

Ø Exam 2          150 points  15%

Ø Exam 3 150 points  15%

Ø Research Report (Written Report) 300 points  30%

Ø Recorded Presentation of Research Report   50 points   5%

Total Points Available 1,000 points 100%

GRADING SCALE

900 – 1,000 points               90-100% A

800  –   899 points 80-89%   B

700  –   799 points 70-79% C

600  –   699 points 60-69% D

0  –   599 points  0-59% F

CLASS SCHEDULE: