Business analysis & valuation : using financial statements

Cover
Half Title Page
Title Page
Imprint Page
Brief contents
Contents
Guide to the text
Guide to the online resources
Preface
About the authors
Acknowledgements
Part 1: Framework
	Chapter 1: A framework for business analysisand valuation using financialstatements
		LO1 The role of financial reporting in capital markets
		LO2 From business activities to financial statements
		LO3 From financial statements to business analysis
		Summary
		Checking and applying your learning
		Endnotes
Part 2: Business analysis andvaluation tools
	Chapter 2: Strategy analysis
		LO1 Industry evaluation
		LO2 Applying industry evaluation
		LO3 Competitive strategy evaluation
		LO4 Corporate strategy evaluation
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 3: Overview of accounting analysis
		LO1 The annual report
		LO2 Factors influencing the financialstatements
		LO3 Steps in accounting analysis
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 4: Implementing accounting analysis
		LO1 Recasting financial statements
		L02 Accounting adjustments: The process
		LO3 Common adjustments
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 5: Financial analysis
		LO1 Ratio analysis
		LO2 Decomposing profitability: Traditionalapproach
		LO3 Cash flow analysis
		Summary
		Checking and applying your learning
		Case link
		Endnotes
		APPENDIX: Kathmandu financial statements ‘as reported’ and standardised
	Chapter 6: Prospective analysis: Forecasting
		LO1 The overall structure of the forecast
		LO2 Performance behaviour: A starting point
		LO3 Other forecasting considerations
		LO4 Making forecasts
		LO5: Sensitivity analysis
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 7: Prospective analysis: Valuation theory and concepts
		LO1 The discounted dividends valuationmethod
		LO2 The discounted abnormal earningsvaluation method
		LO3 Valuation using price multiples
		LO4 Shortcut forms of earnings-basedvaluation
		LO5 The discounted cash flow model
		LO6 Comparing valuation methods
		Summary
		Checking and applying your learning
		Case link
		Endnotes
		APPENDIX: Reconciling the discounted dividends and discounted abnormal
	Chapter 8: Prospective analysis: Valuation implementation
		LO1 Computing a discount rate
		LO2 Detailed forecasts of performance
		LO3 Terminal values
		Summary
		Checking and applying your learning
		Case link
		Endnotes
Part 3: Business analysis and valuation applications
	Chapter 9: Equity security analysis
		L01 Investor objectives and investmentvehicles
		LO2 Equity security analysis and marketefficiency
		LO3 Approaches to fund management andsecurities analysis
		LO4 The process of a comprehensivesecurity analysis
		LO5 Performance of security analysts andfund managers
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 10 Credit analysis and distressprediction
		LO1 Suppliers of credit
		LO2 The credit analysis process
		LO3 Debt ratings
		LO4 Predicting distress
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 11: Mergers and acquisitions
		LO1 A guide to mergers and acquisitions
		LO2 Acquisition pricing
		LO3 Acquisition financing and formof payment
		LO4 Acquisition outcome
		Summary
		Checking and applying your learning
		Case link
		Endnotes
	Chapter 12: Communication and governance
		LO1 Governance overview
		LO2 External information about financialreporting quality
		LO3 Communication through financialreporting
		LO4 Other ways to communicate withinvestors
		LO5 Internal influences on financial reportingquality
		LO6 Auditor analysis
		Summary
		Checking and applying your learning
		Case link
		Endnotes
Part 4: Further case studies
	Case 1 Qantas
	Case 2 Airlines: Depreciation differences
	Case 3 Recasting financial statements
	Case 4 Cochlear: Provisions and patent disputes
	Case 5 Accounting analysis: Cash flow reconciliation
	Case 6 Valuation ratios in the retail industry 2016 to 2018
	Case 7 Dick Smith
	Case 8 Resinex
	Case 9 Foster’s–Southcorp merger
Index