Accounting and Modelling

Faculteit Economie en Bedrijfskunde
Jaar 2020/21
Vakcode EBE050A05
Vaknaam Accounting and Modelling
Niveau(s) post-initieel
Voertaal Engels
Periode semester I b
ECTS 5

Uitgebreide vaknaam Accounting and Modelling
Leerdoelen Upon completion of this course the student is able to:
- analyse the financial statements of a company, particularly to assess the its true (historic) performance, financial position and outlook;
- understand and apply IFRS for the purpose of financial analysis and valuation;
- reorganize and translate financial statements into information and formats relevant for M&A, valuation and financing;
- prepare structured financial forecasts;
- prepare best practice stand-alone valuation models, LBO models and proforma merger models;
- present (in writing) relevant information in a logical, convincing and clear way.
Omschrijving This course covers accounting and modelling for M&A and valuation purposes. The two subjects are closely related, because financial models are expressed in the language of ‘accounting’. Financial statements are an important source of information about the industry, strategy, performance and outlook of a company and its competitors. Versatility in financial statements analysis is a crucial capability in M&A and valuation. Themes that are dealt with in particular:
- how EBITDA, a key parameter in a valuation, is influenced by choices in the application of IFRS, e.g. revenue recognition, share based payments, provisions, R&D, pensions and leasing;
- how companies can manage earnings and other instruments that companies can use to hide their true financial performance and position;
- IFRS accounting for M&A and consolidation;
- tools to analyse the financial performance of a company, e.g. value driver analysis and DuPont analysis;
- how to structure financial models in Excell and integrate income statements, balance sheets and cash flow statements for various purposes (valuation, LBO, pro forma merger modelling).
Uren per week variabel
Onderwijsvorm -gastcollege ,  -hoorcollege ,  -werkcollege
(met gastcolleges)
Toetsvorm -groepsopdracht,  -individuele opdracht,  -schriftelijk tentamen (open vragen)
(Written exam with open questions, individual assignments and a group assignment)
Vaksoort executive master
Coördinator prof. dr. W.G.M. Holterman
Docent(en) Gastdocent(en)
Verplichte literatuur
Titel Auteur ISBN Prijs
Applying IFRS Standards, 2016 Picker, R., et al
Investment Banking: Valuation, Leveraged Buyouts and Mergers & Acquisitions, 2013 Rosenbaum, Pearl
3-5 articles (academic and management) Various
Entreevoorwaarden
Opmerkingen lecturers: Prof. Erik Roelofsen, Drs. H. Haanappel, Drs. J. van der Wal, T. Teeuwisse MSc
Opgenomen in
Opleiding Jaar Periode Type
Executive Master Mergers & Acquisitions and Valuation 1 semester I b verplicht