Financial Statement Analysis

This is the course I most enjoy teaching, because the topics it covers are closest to my research interests. The goals of this course are to present a framework for using financial statement data to make investment decisions and to provide hands-on experience using this framework in realistic situations. The course differs from other offerings in accounting and finance by the level of realism in the assignments. Students must use real data to make decisions that professional analysts make under time and competitive pressure. Students enjoy FSA when they are curious about stock price formation, about the link between financial disclosures and stock prices, and about what is “between the lines” of management’s reports. And, of course, when they feel the urge to “beat the market.” This course forces me to stay current with the business news, with what is happening with particular companies and industries, and with capital markets research.