20177 - FAIR VALUE ACCOUNTING, REPORTING AND VALUATION / FAIR VALUE ACCOUNTING, REPORTING AND VALUATION
AFC
Dipartimento di Accounting / Department of Accounting
Per la lingua del corso verificare le informazioni sulle classi/
For the instruction language of the course see class group/s below
Docente responsabile dell'insegnamento/Course Director:
MAURO BINI
MAURO BINI
Classe/i impartita/e in lingua italiana
Obiettivi formativi del corso
E’ questo un classico corso di valuation nella prospettiva dell’informazione contabile, che copre due principali aree tematiche: l’uso dell’informazione contabile ai fini della valutazione d’azienda (financial statement analysis and valuation) e le valutazioni a fini di financial reporting (valuation for financial reporting).
Il corso ha come obiettivo quello di dotare gli studenti degli strumenti di valutazione comunemente utilizzati (Residual Income Model, Abnormal Earnings Model, etc.) sia nella determinazione del valore intrinseco di un’azienda sia ai fini di financial reporting (stima dei valori d’uso e dei fair value).
L’enfasi del corso è sullo sviluppo di skills operativi da parte degli studenti, per il tramite di adeguate applicazioni (esercizi, fogli di calcolo, etc.).
Programma sintetico del corso
Parte Prima:
- Financial statement analysis and valuation
- Come i bilanci sono usati ai fini valutativi
- Cash accounting e valutazioni
- Accrual accounting e valutazioni
- Il truncation problem nelle valutazione
- Residual Income Model
- Abnormal Earnings Model
- Value and growth
- Multipli clean e adjusted
- Le differenze fra accounting value ed economic value
- Earnings management e manipulation
Parte seconda:
- Valuation for financial reporting
- Fair value measurement
- Beni intangibili e goodwill: identificazione
- Beni intangibili e goodwill: misurazione
- Impairment test di beni intangibili e goodwill
- Impairment test di partecipazioni.
Descrizione dettagliata delle modalità d'esame
Final written exam
Testi d'esame
J.E. Pinto, E. Henry, T.R. Robinson et al., Equity Asset Valuation.
Modificato il 29/03/2013 14:54
Class group/s taught in English
Course Objectives
This is a typical valuation course from an accounting perspective. The main objects of the course are how to use accounting information for valuation purposes and how to perform valuation for financial reporting (valuation for financial reporting).
The course aims at providing students with all instruments they need in order to perform valuation analyses by focusing on the application of accounting-based valuation models (such as the residual income and the abnormal earnings models) for financial reporting purposes.
The course also adopts a practical approach by using many examples to support the implementation of the valuation concepts.
Course Content Summary
First part
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Financial statement analysis and valuation
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How financial reporting infomation is used to perform valuation
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Cash accounting and valuation
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Accrual accounting and valuation
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The truncation problem in valuation
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Residual Income Model
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Abnormal Earnings Model
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Value and growth
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Clean multiples and adjusted multiples
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The difference between accounting value and economic value
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Earnings management and manipulation
Second part:
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Valuation for financial reporting
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Fair value measurement
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Intangible assets and goodwill: identification
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Intangible assets and goodwill: measurement
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Goodwill impairment test
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Intangible impairment test
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Impairment test of financial investments.
Detailed Description of Assessment Methods
Final written exam
Textbooks
Compulsory:M. L. ZYLA, FAIR VALUE MEASUREMENT 2 Rev. Ed, J. Wiley & Sons, 2012
Suggested:
J.E. Pinto, E. Henry, T.R. Robinson et al., Equity Asset Valuation 2ed, J. Wiley & Sons, 2010
Last change 29/03/2013 14:54