Business Analysis and Valuation Using Financial Statements, Text and Cases,9780324118940

Business Analysis and Valuation Using Financial Statements, Text and Cases

by ; ;
Edition: 3rd
ISBN13: 9780324118940
ISBN10: 0324118945
Format: Hardcover
Pub. Date: 2003-07-31
Publisher(s): South-Western College Pub
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Summary

Financial statements are the basis for a wide range of business analysis. Managers, securities analysts, bankers and consultants all use them to make business decisions. There is strong demand among business students for course materials that provide a framework for using financial statement data in a variety of business analysis and valuation contexts.

Table of Contents

Part 1 FRAMEWORK
A Framework for Business Analysis and Valuation Using Financial Statements
1(1)
The Role of Financial Reporting in Capital Markets
2(1)
From Business Activities to Financial Statements
3(3)
From Financial Statements to Business Analysis
6(3)
Summary
9(1)
Discussion Questions
9(1)
Case: The Role of Capital Market Intermediaries in the Dot-Com Crash of 2000
10
Part 2 BUSINESS ANALYSIS AND VALUATION TOOLS
Strategy Analysis
1(1)
Industry Analysis
1(4)
Applying Industry Analysis: The Personal Computer Industry
5(2)
Competitive Strategy Analysis
7(4)
Corporate Strategy Analysis
11(3)
Summary
14(1)
Discussion Questions
15(3)
Case: America Online, Inc.
18
Overview of Accounting Analysis
1(1)
The Institutional Framework for Financial Reporting
1(3)
Factors Influencing Accounting Quality
4(2)
Steps in Doing Accounting Analysis
6(5)
Accounting Analysis Pitfalls
11(1)
Value of Accounting Data and Accounting Analysis
12(1)
Summary
13(1)
Discussion Questions
14(3)
Case: Harnischfeger Corporation
17
Implementing Accounting Analysis
1(1)
Recasting Financial Statements
1(4)
Asset Distortions
5(2)
Overstated Assets
7(5)
Understated Assets
12(9)
Liability Distortions
21(9)
Equity Distortions
30(3)
Summary
33(1)
Discussion Questions
33(8)
Appendix: Recasting Financial Statements Into Standardized Templates
41(5)
Case: Pre-Paid Legal Services, Inc.
46
Financial Analysis
1(1)
Ratio Analysis
1(21)
Cash Flow Analysis
22(5)
Summary
27(1)
Discussion Questions
28(2)
Appendix: Part A: Nordstrom, Inc. Financial Statements
30(7)
Appendix: Part B: The TJX Companies, Inc. Financial Statements
37(7)
Case: The Home Depot, Inc.
44
Prospective Analysis: Forecasting
1(1)
Relation of Forecasting to Other Analyses
1(1)
The Techniques of Forecasting
1(6)
Making Forecasts
7(3)
Sensitivity Analysis
10(2)
Summary
12(1)
Discussion Questions
13(2)
Appendix: The Behavior of Components of ROE
15(2)
Case: Krispy Kreme Doughnuts
17
Prospective Analysis: Valuation Theory and Concepts
1(1)
Defining Value for Shareholders
2(1)
The Discounted Abnormal Earnings Valuation Method
3(2)
Valuation Using Price Multiples
5(5)
Shortcut Forms of Earnings-Based Valuation
10(2)
The Discounted Cash Flow Model
12(2)
Comparing Valuation Methods
14(2)
Summary
16(1)
Discussion Questions
17(3)
Appendix: Reconciling the Discounted Dividends and Discounted Abnormal Earnings Models
20(1)
Case: Valuation Ratios in the Airline Industry
21
Prospective Analysis: Valuation Implementation
1(1)
Detailed Forecasts of Performance
1(1)
Computing a Discount Rate
2(5)
Terminal Values
7(4)
Computing Estimated Values
11(5)
Summary
16(1)
Discussion Questions
16(3)
Case: Home Depot, Inc. in the New Millennium
19
Part 3 BUSINESS ANALYSIS AND VALUATION APPLICATIONS
Equity Security Analysis
1(1)
Investor Objectives
1(1)
Equity Security Analysis and Market Efficiency
2(2)
Approaches to Fund Management and Securities Analysis
4(2)
The Process of a Comprehensive Security Analysis
6(4)
Performance of Security Analysts and Fund Managers
10(2)
Summary
12(1)
Discussion Questions
13(4)
Case: United Parcel Service's IPO
17
Credit Analysis and Distress Prediction
1(1)
The Market for Credit
2(1)
The Credit Analysis Process
3(6)
Financial Statement Analysis and Public Debt
9(4)
Prediction of Distress and Turnaround
13(2)
Summary
15(1)
Discussion Questions
15(3)
Case: Amazon.com in the Year 2000
18
Mergers and Acquisitions
1(1)
Motivation for Merger or Acquisition
1(4)
Acquisition Pricing
5(5)
Acquisition Financing
10(4)
Acquisition Outcome
14(1)
Summary
15(1)
Discussion Questions
16(2)
Case: Schneider and Square D
18
Corporate Financing Policies
1(1)
Factors That Determine Firms' Debt Policies
1(1)
The Optimal Long-Term Mix of Debt and Equity
2(5)
The Financing of New Projects
7(2)
Factors That Determine Dividend Policies
9(4)
Summary
13(1)
Discussion Questions
14(2)
Case: CUC International, Inc. (A)
16
Communication and Governance
1(334)
Governance Overview
2(2)
Management Communication with Investors
4(2)
Communication Through Financial Reporting
6(3)
Other Forms of Communicating with Investors
9(3)
Auditor Analysis
12(5)
Audit Committee Reviews
17(1)
Summary
18(1)
Discussion Questions
19(4)
Case: Computer Associates International, Inc.: Governance and Investor Communication Challenge
23
Part 4 ADDITIONAL CASES
Anacomp, Inc.
1(24)
Arch Communications Group Inc.
25(30)
Boston Chicken, Inc.
55(18)
Brierley Investments Limited
73(20)
The City of New York
93(18)
Comdisco, Inc. (A)
111(26)
Comdisco, Inc. (B)
137(30)
Korea Stock Exchange 1998
167(18)
Manufactured Homes, Inc.
185(30)
Maxwell Shoe Company, Inc.
215(6)
The Murray Ohio Manufacturing Company
221(24)
Oracle Systems Corporation
245(12)
Sensormatic Electronics Corporation-1995
257(30)
Thermo Electron Corporation
287(18)
The Upjohn Company: The Upjohn-Pharmacia Merger
305(30)
Index 335(12)
Author Index 347

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