Lecture Notes

LEC # TOPICS
1 Introduction: Accounting Scandals, Business Valuation and Market Efficiency (PDF)
2 The Basics of Company Valuation: DCF Foundations Setting the Stage for Using Accounting Information (PDF)
3 Cash Flow Analysis: Is Cash King? (PDF)
4 Using Accounting Earnings for Valuation - Why Earnings and Not Cash Flow? (PDF)
5 Comparative Analysis: What Analysts Do? (PDF)
6 Turbo Accounting I - A Review of How to Read a Financial Statement (PDF)
7 How Companies Cook the Books (PDF)
8 Detecting Earnings Management: Applied Analysis (PDF)
9 1) Quiz #1 - In Class

2) Final Guidance/Overview on Part 1 of Project
10 Analyst Team Presentations and Due Diligence Response by Matched Teams
11 Analyst Team Presentations and Due Diligence Response by Matched Teams
12 Risk Assessment: Do Financial Statements Capture Risk? (PDF)
13 Risk I: Cost of Capital: Is CAPM Dead? (PDF)
14 Risk and Accounting Trading Strategies: Do Investors Understand Accounting? (PDF)
15 Risk II: Accounting Numbers in Contracts: Ratio Analysis and Bankruptcy Detection (PDF)
16 Mergers and Acquisitions: Impairment of Goodwill, Writedowns, Private Firm Valuation (PDF)
17 Employee Stock Options and Valuation: Should Options be Expensed? Understanding the current debate (PDF)
18 1) Quiz #2 - In Class

2) Final Guidance/Overview on Part 2 of Project
19 Off Balance Sheet Activities - Deconstructing the Enron Debacle and Beyond (PDF)
20 Pension Plans - The Next Accounting Disaster? (PDF)
21 International Financial Analysis (PDF)
22 Hot Topics in Accounting and Valuation: + Capstone (PDF)
23 Analyst Team Presentations and Due Diligence Response by Matched Teams
24 Analyst Team Presentations and Due Diligence Response by Matched Teams