Analisi di bilancio - ENG

FINANCIAL STATEMENT ANALYSIS

Prof. Luigi Borré

Course Code: E0002
Subject code: SECS-P/07
6 ECTS – 48 hours
Location: Novara

Educational aims

The subject of the course is the analysis and the evaluation of the assets worth and the economic and financial performances, both from an ex-post and an ex-ante perspective.
More in detail, the course aims:

1. To provide a comprehensive representation of the technical instruments available to analyse and evaluate the financial and economical performance of a company;
2. To review techniques and single instruments to understand and highlight their analysis potential and possible limits as well as awareness on biases and misleading results;
3. To provide a comprehensive set of principles and approaches adopting which it is possible to form a solid opinion about the economic and financial performance of a company;
4. To develop practical competencies in applying concepts and techniques discussed in the course.

Content of the course

The Financial Statement Analysis is, firstly, approached discussing the possible perspectives of different stakeholders in understanding the financial and economical performance of a company.
After a presentation of the financial statement analysis process as a whole, each specific topic is discussed as follows:

-       Reading of Financial statements

• Reading of income statement, balance sheet, cash flow statement and notes to financial statements;
• Identification and discussion of possible biases due to different accounting standards or accounting policies adopted by the company;
• Evaluation of the financial statement reliability in the analyst’s perspective

-       Restatement of financial reports

• Restatement of income statement;
• Restatement of balance sheet.

-       Ratios

• Solidity ratios;
• Liquidity ratios;
• Profitability ratios;
• Other ratios.

-       Cash Flow Analysis

-       Final comprehensive evaluation

Prerequisites

Business Administration
Financial Accounting

Course Texts

-          Teodori C., L’analisi di bilancio, ed. Giappichelli, 2008 The book is available in the library
-          Learning material published by the teacher on Moodle Platform: https://eco.dir.unipmn.it/.

Teaching methods

Frontal lessons, exercises, case studies, with handouts to be read in advance by the students.
Lesson attendance is not compulsory, but strongly recommended.

Examination

Oral examination concerning the contents of learning material and the theoretical and practical topics discussed during lessons.
After the end of the course and before the date fixed for the first oral session, an early written exam session may be held.