Key words
Financial analysis
Objectives
Working with the financial analysis of the annual accounts we try to determine the financial condition of an undertaking in the past and by doing so try to derive as punctual as possible previsions for the future financial situation. The students are being acquainted with the various techniques of financial analysis: common size and index analyses, funds flow analysis, cash flow analysis, ratio analysis and analysis of the social balance.
Topics
In an introduction the accountancy legislation and structuring of the balance sheet and the income statement will be repeated. Afterwards more detail will be given to the restructuring of the balance sheet and income statement in an for financial analysis adapted form. Common size and index analyses will be treated. The funds flow analysis will be explained. The necessary attention will be given to the extented cash flow analysis. Liquidity ratios, debt ratios, coverage ratios, profitability ratios and added value ratios will be seen. The analysis of the social balance will likewise be seen. Finally the interpretation of the financial ratios will be added.
Prerequisites
Understanding of accountancy principals and rules for constructing the annual account.
Final Objectives
Materials used
Ooghe H. & Van Wymeersch C., Financiële analyse van de onderneming : Theorie en toepassing op de jaarrekening inclusief de sociale balans, 2 boekdelen, Kluwer Ced.Samsom 2001.
Study costs
73,2 euro
Study guidance
Teaching Methods
lectures: 10 hours, practical uses: 18 hours
Assessment
closed book written examination
Lecturer(s)
Lucette CORDONS
Joke Huysman
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