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Business Analysis Valuation: Using Financial Statements

Author(s): Krishna G. Palepu | Paul M. Healy

ISBN: 9788131526644

Edition: 5th

© Year : 2015

₹475

Binding: Paperback

Imprint : South Western

Pages: 332

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BUSINESS ANALYSIS & VALUATION: USING FINANCIAL STATEMENTS, 5E has a valuation emphasis and focuses on a four-part framework: (1) business strategy analysis for developing an understanding of a firm's competitive strategy; (2) accounting analysis for representing the firm's business economics and strategy in its financial statements, and for developing adjusted accounting measures of performance; (3) financial analysis for ratio analysis and cash flow measures of operating; and (4) prospective analysis. The text shows how this business analysis and valuation framework can be applied to a variety of decision contexts: securities analysis, credit analysis, corporate financing policies analysis, mergers and acquisitions analysis, and governance and communication analysis.

  • The textbook focuses on valuation, teaching students how to value companies using book values and earnings forecasts.
  • It provides a flexible framework for students pursuing various business careers.
  • Entity issues, such as measuring the value of multi-business unit firms, are explained in detail.
  • The end-of-chapter material includes quality discussion questions to apply concepts without assigning cases.
  • Cases present business analysis and valuation issues in specific decision contexts.
  • Four types of financial statement analysis are covered, including business strategy analysis, accounting analysis, financial analysis, and prospective analysis.
  • Applications of financial statement analysis include credit analysis, securities analysis, mergers and acquisitions analysis, financing policy analysis, and management communication analysis.
  • Revenue recognition challenges, such as accounting for advance payments and bundled services, are addressed.
  • Expense recognition and allocation, including depreciation and asset cost allocation, are covered.
  • The textbook includes chapters on accounting analysis from an income statement and balance sheet perspective, with a focus on accounting adjustments.

Part I: FRAMEWORK.

1. A Framework for Business Analysis and Valuation Using Financial Statements.

Part II: BUSINESS ANALYSIS AND VALUATION TOOLS.

2. Strategy Analysis.

3. Overview of Accounting Analysis.

4. Implementing Accounting Analysis.

5. Financial Analysis.

6. Prospective Analysis: Forecasting.

7. Prospective Analysis: Valuation Theory and Concepts.

8. Prospective Analysis: Valuation Implementation.

Part III: BUSINESS ANALYSIS AND VALUATION APPLICATIONS.

9. Equity Security Analysis.

10. Credit Analysis and Distress Prediction.

11. Mergers and Acquisitions.

12. Communication and Governance.

Paul M. Healy

Paul M. Healy is James R. Williston Professor of Business Administration, and Unit Head, Accounting and Management, at Harvard Business School, Harvard University.

 

Krishna G. Palepu

Krishna G. Palepu is the Ross Graham Walker Professor of Business Administration and Senior Associate Dean for International Development at the Harvard Business School, Harvard University.

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