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2021 Syllabus FA MiF UNIL-2

The syllabus outlines the Financial Accounting course for the MSc in Finance program, taught by Garen Markarian. The course aims to provide students with a strong understanding of financial accounting principles, including the mechanics of financial statements and fundamental analysis, with a focus on preparing for a comprehensive final exam. Students are expected to engage with course materials, including readings and videos, and complete problem sets to enhance their learning experience.

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24 views4 pages

2021 Syllabus FA MiF UNIL-2

The syllabus outlines the Financial Accounting course for the MSc in Finance program, taught by Garen Markarian. The course aims to provide students with a strong understanding of financial accounting principles, including the mechanics of financial statements and fundamental analysis, with a focus on preparing for a comprehensive final exam. Students are expected to engage with course materials, including readings and videos, and complete problem sets to enhance their learning experience.

Uploaded by

TEMIM
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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MSc in Finance

SYLLABUS

Course: FINANCIAL ACCOUNTING


Master of Science in Finance

Instructor: Garen Markarian


Email: [email protected]

Welcome to the Masters in Finance program and to Financial Accounting!


This syllabus is intended to make the course objectives, contents, structure, and requirements
outlined. I hope that it will help you obtain the greatest possible benefit from the course. Also, I
lay out what we expect of you.

MODE OF INSTRUCTION
This course will be held in the classroom. Depending on the Covid situation, we might
have to move to zoom on short notice. We will communicate with you as soon as we have
further information. For those of you who are not able to attend in the classroom due to
health reasons, all material and videos will be posted online.

If you attend in the classroom: read the chapters in advance, think of the problem sets.
If you are attending remotely: read the chapters in advance, think of the problem sets,
watch the preparatory videos, watch the class recordings.

ABOUT THIS CLASS


Accounting is “the language of business”. It is spoken by managers, employees, investors, financial
analysts, internal and external auditors, supervisory boards, management accountants, bankers and
other decision makers with whom managers regularly interact. It is widely agreed that future
business leaders need to understand this language in order to be able to interpret and use financial
statements and other accounting information for internal management purposes (e. g. planning,
directing, controlling) as well as corporate communication purposes (e. g. capital markets, banks,
rating agencies). If you want to compete in this arena, it will be useful for you to acquire a working
knowledge of accounting. This class is targeted to students having little, if any, background in
financial accounting.

This is probably the hardest, and most important, course in your Masters in Finance curriculum.
At the end of the day, numbers are what matter in the business world. You just cannot escape from
them; hence, you should learn it well. Contrary to what you already believe, you cannot become a
high-quality investment banker, trader, banker, hedge fund manager – unless you master the
numbers of the financial world. This is the class that will teach it for you.

The working knowledge provided in this course can be extended in further studies in accounting,
finance and other business disciplines, including the specialization course “Financial Statement
Analysis & Equity Valuation”.

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MSc in Finance

OBJECTIVES OF THE CLASS


I am not able to make you a Milken, Blankfein, or a Gross in 1 semester, but I pledge that you will
learn enough to be able to navigate in the complex world of financial analysis.
If you work hard in this class, you will:
Master the mechanics of financial accounting;
Understand the structure, functions, and interrelation of the basic financial statements
(balance sheet, income statement, and cash flow statement);
Be able to perform a structured fundamental analysis of financial statements in order to
assess a firm’s profitability, liquidity, and solvency;
Be familiar with the IFRS rules governing the recognition and measurement of key
activities, events and transactions, including intangible assets, property, plant and
equipment, liabilities, and shareholders’ equity; and mergers and acquisitions.

I am fully aware from past experience that roughly a quarter of the students in this class will learn
next to nothing. Work hard, and make sure that you are not one of them.

COURSE INFORMATION

Textbook
See course packet that is attached in Moodle. Each Session will have Readings, Videos, and
PowerPoint, as needed. Do not to print anything. Read everything from the screen – it is the fastest
way for you (trust me). I will update the textbook multiple times a semester, so, printing multiple
times will be a total waste! Besides, we will only use about half of the book ….

Instruction format
The course consists of lectures, videos, Q&A sessions, problem solving sessions, and a final exam.
Below, under “Sessions and Assignments”, you will find further information.

Exam
The final exam is individual, comprehensive and contributes 100% towards your score for the
Financial Accounting section. It covers everything. If you do not do honest effort in the
assignments and group assignment, you will surely fail the final exam. I will give you last year’s final
exam, as a prototype for you to know what it looks like. The exam will take place in the classroom:
you’ll only need your laptop (no phone allowed) and you may have all material you wish in it. You’ll
only have access to the exam, no internet.

Grading
Grading is based on the exam (100%)

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MSc in Finance

SESSIONS
(please read the relevant sections from the book, and watch the online videos ahead of time)

Session Topic Problem Set Book Chapter

Introduction, Balance Sheet, Introduction,


1
Income Statement 1, 2

Cash Flow Statement, Comprehensive


2 3
Example (Excel)

Receivables, Inventories,
3 7, 8, 9
Long Term Assets

Understanding Financial Statements,


4 4, 15
Ratio Analysis

5 Financial Assets, M&A 10, 13

6 Liabilities, Equity 11, 12

7 Taxes, Revision 14

8 Problem Set 1 * Sears, Pepsi vs. Coke

9 Problem Set 2 * Jeopardy, Caterpillar

Gulf Coast Tax,


10 Problem Set 3 *
M&A Consolidation

11 Time Value of Money, Forecasting 5, 16

Role of Accounting in Firm Value // Valuing a Public


12 6
Problem Set 4 * Company

13 M&A in Action // Problem Set 5 * Forecasting in an M&A

14 Earnings Manipulation, Revision

 read and solve the problems in advance

HOW TO PREPARE
Each of the sessions above needs to be prepared in advance. Please read the relevant
chapters from the textbook before coming to class, watch the videos, and do the exercises!

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MSc in Finance

OPTIONAL READINGS
I have put a number of articles at the end of the book; it would be useful for you to read:

Understanding Apple's Balance Sheet


Are You Being Misled By Profit Margins
At Amazon, It’s all About Cash Flow
Amazon’s Best New Feature: Profitability
Retail vs. Tech: How These Companies Use Working Capital
How to Analyze a Company's Inventory
Investors Today Prefer Companies with Fewer Physical Assets
12 Things You Need to Know About financial Statements
Apple's 3 Key Financial Ratios
Porsche: The Hedge Fund that Also Made Cars
Aircraft leasing. Buy or rent?
Betting on Default, Hedge Funds Speculate on Greek Debt
Why do Debt to Equity Ratios Vary From Industry to Industry?
Praxair-Linde/ Understanding the rationale
The Five Biggest Mergers in History
US companies count costs and benefits of Trump tax law
How are effective tax rates calculated from income statements? | Investopedia

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