8 Front-End Languages to Learn
November 26, 2024
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This course is part of Essentials of Corporate Finance Specialization
Instructors: Paul Kofman
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In this course, participants will learn the foundations of accounting principles and financial analysis, develop an understanding of the links between these, and the measurement of value creation at the firm level. This is the first course in a four-course Specialization on the Essentials of Corporate Financial Analysis and Decision-Making, created in partnership between the University of Melbourne and Bank of New York Mellon (BNY Mellon).
View the MOOC promotional video here: http://tinyurl.com/jeoa83t
This week we will define and explain the key financial statements produced by a company and reported to its shareholders. We will discuss the different core elements within those statements following basic accounting principles with the discussion framed in reference to excerpts from the actual financial statements produced by the US-listed food company Kellogg's.
8 videos7 readings2 assignments
Understanding the importance and the accounting principles underpinning the key financial statements of a company, we now turn our attention to synthesizing and condensing the financial statement information for the purpose of financial analysis. Specifically, we demonstrate how financial analysts use ratio analysis to measure relative profitability, leverage, efficiency and the liquidity of a company. Again, we utilise information from the financial statements of Kellogg's and its competitor Kraft to demonstrate these financial analysis techniques.
8 videos1 reading2 assignments
Having established initial basic financial analyst's toolset in the first two weeks of this course, some caution is warranted as we turn our attention to some of the pitfalls associated with uncritical use of financial statements by analysts. Specifically, we highlight how the use of historical cost and accrual-based accounting might lead to sub-optimal corporate financial decision-making. We then discuss how the agency relationship between management and the owners of a company may also lead to poor corporate decision-making. We conclude with a cautionary tale of misleading accounting practices and the regulator's response to these cases.
6 videos1 reading2 assignments
Having identified the key elements of a company's financial statements, and the way in which information from these statements can be utilized in financial analysis, we shift our focus this week to discounted cash flow (DCF) analysis. Sound financial decision-making by CFOs and investors, requires an assessment of future (uncertain) financial outcomes. DCF analysis allows the financial analyst to extrapolate the financial statement information in a forward-looking manner. The DCF technique provides an objective way in which we can evaluate financial decisions while overcoming many of the shortcomings associated with standard ratio analysis.
6 videos4 readings4 assignments1 peer review
We asked all learners to give feedback on our instructors based on the quality of their teaching style.
Instructor ratings
We asked all learners to give feedback on our instructors based on the quality of their teaching style.
The University of Melbourne is an internationally recognised research intensive University with a strong tradition of excellence in teaching, research, and community engagement. Established in 1853, it is Australia's second oldest University.
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Reviewed on May 7, 2020
It is a great course. The instructors present the topics very easily.This course can help you understanding your knowledge more deeply.
Reviewed on Jun 15, 2020
This course was very insightful. It's a great refresher course if you have a finance background. It's also beginner-friendly if you do not have finance background.
Reviewed on Sep 28, 2020
Thanks a lot for your fabulous course and special thanks to Dean Paul Kofman. Very well structured course and quizzes. I will continue to take other related courses.
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