Measuring and Managing the Value of Companies

obligatory courses

Classroom

The course content includes advanced methodologies for financial statement analysis, integrating industry-leading practices and keeping pace with the latest trends in the field. Throughout the course, topics encompass an in-depth exploration of ratio analysis, refined interpretation of financial data, and the utilization of advanced financial instruments in assessing a company’s ability to generate sustainable profitability and manage its financial obligations efficiently.

Module 1: Introduction to Financial and Economic Analysis

1.1. The role and significance of financial analysis in enterprise management.

1.2. Latest trends in accounting and financial reporting.

Module 2: Advanced Methods of Financial Analysis

2.1. Trend analysis and time-series comparisons. 2.2. Interpretation of financial data considering industry specifics.

2.3. Utilization of advanced tools to identify anomalies and “earnings quality” in financial statements.

Module 3: Profitability and Efficiency Analysis

3.1. Profitability analysis.

3.2. Liquidity analysis and efficient management of working capital.

3.3 Assessment of indebtedness and the company’s efficiency in debt servicing.

3.4. Optimization of cost structure and operational efficiency.

Module 4: Equity Analysis: Screening for Potential Equity Investments

Module 5: Financial Risk Analysis

5.1. Identification and evaluation of key risk factors. 5.2. Analysis of the impact of macroeconomic factors on financial stability.

5.3. Financial risk management strategies.

Module 6: Modern Forecasting Techniques

6.1. Application of statistical techniques in forecasting financial situations.

6.2. Predictive models and forecasting profitability.

6.3. Adaptive strategies in the context of market dynamics.

Module 7: Financial Analysis and Strategic Business Decisions

7.1. Integration of financial analysis with the strategic planning process.

7.2. Investment decisions based on financial analysis.

Module 8: Evolution of Financial Reporting

6.1. The role of sustainable development and social responsibility in financial reporting.

6.2. The significance of ESG reporting for economic and financial analysis

1. Nikodem Grzenkowicz, Jacek Kowalczyk, Aleksander Kusak, Zygmunt Podgórski ( 2017) Analiza finansowo - ekonomiczna jako narzędzie oceny kondycji przedsiębiorstwa, Wydawnictwo Naukowe Wydziału Zarządzania UW,

2. Dariusz Wędzki,( 2019) Analiza wskaźnikowa sprawozdania finansowego według polskiego prawa, Wydawnictwo Nieoczywiste, 201,

3. Grzegorz Gołębiowski, Adrian Grycyk, Agnieszka Tłaczała, Piotr Wiśniewski red. Nauk. (2020) Analiza finansowa przedsiębiorstwa, Difin,

4. Rafał Cieślik, Marta Postuła Redakcja naukowa (2020), Zarządzanie finansami przedsiębiorstwa – teoria i praktyka, Wydawnictwo Naukowe Wydziału Zarządzania UW,

5. Young S.D., Cohen J., Bens D.A., (2018), Corporate Financial Reporting and Analysis: A Global Perspective ,John Wiley & Sons,

6. Thomas R. R., (2020), International Financial Statement Analysis, John Wiley & Sons,

7. Anna Chmielewska, Rafał Cieślik ,Mariusz Lipski, Marta Postuła (2023), Projekty inwestycyjne. Jak nie wpaść w pułapkę (nie)zrównoważonego rozwoju, Difin ( rozdział 1).

After completing the course:

In terms of knowledge, the student:

• is familiar with research methodology and terminology related to the economic and financial analysis of companies (S3_W01) (K_W01).

• has an advanced understanding of the principles, procedures, and practices pertaining to the economic and financial analysis of companies (S3_W02) (K_W02).

• comprehends economic theories and models related to the economic and financial analysis of companies (S3_W01) (K_W03).

• recognizes technological, social, political, legal, economic, and ecological processes and phenomena and understands how they affect the economic and financial analysis of companies (S3_W05) (K_W05).

In terms of skills, the student:

• is able to apply economic and financial theories, as well as complementary disciplines (management, quality sciences, legal sciences), to conduct economic and financial analysis of companies (S3_U01) (K_U01).

• can accurately interpret technological, social, political, legal, economic, and ecological processes and their impact on the economic and financial analysis of companies (S3_U02) (K_U02).

• is capable of independently and collaboratively preparing analyses, diagnoses, and reports related to the economic and financial analysis of companies (S3_U03) (K_U03).

• can plan and organize their own and team's work in the preparation of economic and financial analysis of companies (S3_U04) (K_U05).

• possesses the ability to engage in self-directed learning and enhance their acquired skills (S3_U05) (K_U06).

In terms of attitudes the student::

• is prepared for assessing and taking a critical approach to situations and phenomena related to the economic and financial analysis of companies (S3_K01) (K_K01).

• is ready to adhere to professional ethical standards in the field of economic and financial analysis of companies (S3_K02) (K_K03).

The learning assessment will be based on:

1. A written final exam (multiple-choice questions and 2 problem-solving tasks).

2. A team project (3-4 students).

The weight of each assessment component will be as follows:

• Final exam – 80%

• Group project – 20%