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Course Syllabus

Master 2023/2024

Financial Analysis

Type: Compulsory course (Finance)
Area of studies: Finance and Credit
Delivered by: Department of Finance
Where: St.Petersburg School of Economics and Management
When: 1 year, 2 module
Mode of studies: offline
Open to: students of one campus
Instructors: Iya Churakova
Master’s programme: Finance
Language: English
ECTS credits: 3
Contact hours: 32

Course Syllabus

Full Syllabus

Abstract

This discipline refers to a cycle of special disciplines and a block of disciplines that provide basic training. The study of the discipline "Financial analysis" is based on the following disciplines: Economics of the enterprise; Company valuation Microeconomics; Accounting. For the effective development of this academic discipline, students must have the following knowledge and competencies: know and understand the basics of the enterprise economy; have an idea about the management system at the enterprise; know the basics of business law; know the classification of costs and types of costing.
Learning Objectives

Learning Objectives

  • Use the information provided in financial statements for analysing the financial performance
  • Evaluate business operations, processes, managers and capacity utilisation
  • Forecast future business conditions.
Expected Learning Outcomes

Expected Learning Outcomes

  • Assessment of the financial position of the company using traditional and modern istruments.
  • Identify financial strengths, weaknesses and relationships in the position of the company
  • Understand basic tools of financial management and financial calculations.
  • Understanding financial risk and its impact on the company's operations.
  • Knowledge of basic algorithms for building and applying financial distress prediction models and the ability to apply them to the performance of a particular company.
  • Know the importance of detecting fraud in financial statements and other documents related to a company's business life and reputation.
  • Possess methods of fraud detection based on financial statements (Beneish's M-score, Benford's law, matched time series analysis).
  • Know what the financial health of a company is and what components it consists of.
  • Analyse the financial health of the company, selecting appropriate methods of analysis.
  • Build models to predict the financial health of a company.
Course Contents

Course Contents

  • Analysis of the financial statements
  • Predicting financial distress of companies:indivators and models
  • Fraud detection methods
  • Financial health of the Company
Assessment Elements

Assessment Elements

  • non-blocking Analysis of the financial statements
  • non-blocking Predicting financial distress of companies: indicators and models
  • non-blocking Fraud detection methods
  • non-blocking Financial health of the Company
    Assignment, completed in small groups (2 students). It includes the final stage of mastering the course materials.
Interim Assessment

Interim Assessment

  • 2023/2024 2nd module
    0.1 * Analysis of the financial statements + 0.4 * Financial health of the Company + 0.4 * Fraud detection methods + 0.1 * Predicting financial distress of companies: indicators and models
Bibliography

Bibliography

Recommended Core Bibliography

  • Analysis for financial management, Higgins, R. C., 2016
  • Corporate financial distress and bankruptcy : predict and avoid bankruptcy, analyze and invest in distressed debt, Altman, E. I., 2006
  • Essentials of corporate fraud, Coenen, T., 2008
  • Financial analysis: collection of case studies - Казакова Н.А., Дун И.Р., Бобкова М.П. - НИЦ ИНФРА-М - 2018 - https://znanium.com/catalog/product/972205 - 1047097 - ZNANIUM
  • Financial Statement Fraud and Financial Stability. (2019). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.A19809A6
  • Sherman, E. H. (2015). A Manager’s Guide to Financial Analysis : Powerful Tools for Analyzing the Numbers and Making the Best Decisions for Your Business: Vol. Sixth edition. AMA Self-Study.

Recommended Additional Bibliography

  • Corporate strategy and financial analysis : managerial, accounting and stock market perspectives, Ellis, J., 1993
  • DeAngelo, H., DeAngelo, L., & Wruck, K. H. (2002). Asset liquidity, debt covenants, and managerial discretion in financial distress:*1: the collapse of L.A. Gear. Journal of Financial Economics, (1), 3. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.jfinec.v64y2002i1p3.34
  • Forensic accounting and fraud examination, Kranacher, M.-J., 2020
  • International financial management, Madura, J., 2020