ACCT 701: Business Valuation Master Syllabus
Course Instructor:
Office Number:
Office Hours:
Email:
Course Meeting Times:
Course Website: Canvas
Textbook [not required]
Palepu and Healy, Business Analysis & Valuation: Using Financial Statements, 5th edition, South-Western, 2013. [ISBN 9781111972301]
Case Studies (required)
from Harvard Publishing
Course Materials
Posted on Canvas. Check periodically for updates.
Course Description and Objectives
The objective of this course is to provide hands-on-experience in financial statement analysis and valuation consistent with the learning goals mentioned below. In particular, the course offers a comprehensive framework for analyzing financial statements consisting of (a) Business Strategy Analysis, (b) Accounting Analysis, (c) Financial Analysis, and (d) Prospective Analysis & Valuation. The framework would enable the students to synthesize and integrate information to make complex decisions with limited information, as well as conduct the research, competitive analysis, and environmental scanning necessary for valuation of business entities.
Program Learning Goals
Professional skills: Our graduates will demonstrate professional skills necessary for success in the public accounting profession.
- Teaming & Leading - Our graduates will demonstrate the team leadership and interpersonal skills needed to form, lead, and work effectively in diverse organizational teams.
- Ethics and Professional Responsibility - Our graduates will understand the importance of ethical conduct and the regulatory environment of accounting.
- Professional Communications – Our graduates will communicate effectively to professional audiences in both written and oral forms.
- Analytical Decision Making - Our graduates will demonstrate analytical decision-making skills.
- Accounting Research - Our graduates will effectively conduct and communicate accounting research
Technical skills and knowledge: Our graduates will demonstrate and apply technical knowledge of accounting and auditing.
Group cases:
- Groups will consist of about five students.
- Selected portions of the cases may be covered in the exams and thus all cases must be read.
- The written report should include (a) an executive summary and (b) a detailed analysis of all questions assigned for each case.
- Requirements for Valuation project will be posted separately.
- All reports are due at the beginning of the class. Late submissions of case write-ups will not be accepted.
- Prior to submitting your printed report in class you should upload (one for the entire group) an electronic version through SafeAssign on Canvas.
Grading
Grading Standards: Your final grade will be determined as follows.
| Case analysis (group): 2X8 | 16 |
| Valuation project (group) | 22 |
| Mid-term Exam | 24 |
| Final Exam | 38 |
| Total points | 100 |
Final grades will be assigned using the plus or minus designation (e.g., A, A-, B+, B, B-, C, and F). As a general guideline, the following are the cut-off points for the letter grades: A: 93%. A-: 90%. B+: 87%. B: 83%. B-: 80%. C: 73%. However, the instructor has the right to modify the cut-off points depending on class performance.
To assess the nature and extent of work contributed by each member of a group, group members will grade each other and this grade could influence your overall course grade. If there is a significant disparity among ratings assigned to a particular group member, this may result in a reduction of points for that member.
Extra Credit/Make-up/Late Submissions
There is no provision for extra credit in the class. Exams, project, and cases are the basis of grading. Exams must be taken at the appointed time. Case submissions should be made at the stated time and late submissions will be assigned zero points.
Browser + Webcam Requirement
This course requires the use of LockDown Browser and a webcam when exams are online. The webcam can be the type that is built into your computer or one that plugs in with a USB cable.
Watch this brief video to get a basic understanding of LockDown Browser and the webcam feature.
LockDown Browser Download Instructions
Download and install LockDown Browser from here.
Once Installed
- Start LockDown Browser
- Log into Canvas
- Navigate to the test
Note: You won't be able to access tests with a standard web browser. If this is tried, an error message will indicate that the test requires the use of LockDown Browser. Simply start LockDown Browser and navigate back to the exam to continue. Guidelines When taking an online test, follow these guidelines:
- Ensure you're in a location where you won't be interrupted
- Turn off all other devices (e.g. tablets, phones, second computers) and place them outside of your reach
- Before starting the test, know how much time is available for it, and also that you've allotted sufficient time to complete it
- Clear your desk or workspace of all external materials not permitted
- Remain at your computer for the duration of the test
- If the computer, Wi-Fi, or location is different than what was used previously with the "Webcam Check" and "System & Network Check" in LockDown Browser, run the checks again prior to the exam
To produce a good webcam video, do the following:
- Avoid wearing baseball caps or hats with brims
- Ensure your computer or device is on a firm surface (a desk or table). Do NOT have the computer on your lap, a bed, or other surface where the device (or you) are likely to move
- If using a built-in webcam, avoid readjusting the tilt of the screen after the webcam setup is complete
- Take the exam in a well-lit room, but avoid backlighting (such as sitting with your back to a window)
Remember that LockDown Browser will prevent you from accessing other websites or applications; you will be unable to exit the test until all questions are completed and submitted
Getting Help Several resources are available if you encounter problems with LockDown Browser:
- The Windows and Mac versions of LockDown Browser have a "Help Center" button located on the toolbar. Use the "System & Network Check" to troubleshoot issues. If an exam requires you to use a webcam, also run the "Webcam Check" from this area
- Respondus has a Knowledge Base available from support.respondus.com. Select the "Knowledge Base" link and then select "Respondus LockDown Browser" as the product. If your problem is with a webcam, select "Respondus Monitor" as your product
- If you're still unable to resolve a technical issue with LockDown Browser, go to support.respondus.com and select "Submit a Ticket". Provide detailed information about your problem and what steps you took to resolve it
Student Responsibilities
You are expected to have read the assigned readings before responding to any posted discussion questions and attempting the related assignments. The amount of effort you put into studying the assigned materials before attempting classwork would determine the quality of your responses to questions, as well as how much you learn about the course topics. We encourage you to not only read the assigned materials but to analyze them carefully. Think about each reading from both a conceptual and a practical perspective.
Communication: Students must use their George Mason email accounts to receive important University information, including messages related to this class and correspondence with the instructor. See Masonlive to obtain your personal George Mason e-mail account. George Mason policy requires faculty to communicate exclusively through the George Mason email system. This means your instructor can respond to email from your George Mason account only and cannot respond to emails you send from your personal or work email.
Email and questions posted to the discussion forums will be answered within 24 hours during the work-week (Monday through Friday) with the exception of emergencies and 48 hours over the weekend and holidays. Students who anticipate missing a deliverable due date for religious reasons should inform the instructor in advance as soon as possible. You can find the University semester schedule and religious holidays at academic calendar and religious holiday calendar.
Course Schedule
Week 1
Topic:
- A Framework for Business Analysis and Valuation Using Financial Statements
- Strategy Analysis
- Overview of Accounting Analysis Submit by email Group member names:
Submit by email Group member names:
Week 2
Topic: Overview of Accounting Analysis
Case #1: Harnischfeger Corporation
Week 3
Topic: Implementing Accounting Analysis
Week 4
Topic: Financial Analysis
Midterm Exam [about 80 minutes duration over the tine window 4-10PM]
Week 5
Topic: Financial Analysis
Week 6
Topic: Forecasting; Prospective Analysis: Valuation Theory and Concepts
Case #2: The Home Depot, Inc
Week 7
Topic:
Prospective Analysis: Valuation Theory and Concepts
Prospective Analysis: Valuation Implementation
Week 8
Topic: Prospective Analysis: Valuation Implementation
Valuation Project Due
Group Evaluation forms Due
Online Final Exam – [about 150 minutes duration over the time window 4-10PM]
Group Evaluation
Instructions: As specified in the syllabus, a group participation evaluation is to be completed by each group member. The evaluation should be completed independently in the following manner:
- List your group members (including yourself) in the first column.
- Rate the participation of your group members by awarding each member some number of points between 0 and 100. For example, if you feel that all members of your group participated equally, you would give 100 points to each group member. The points should be given to your team members based upon a consideration of the following: (1) willingness and participation in carrying out assigned tasks, (2) ability of the individual to meet deadlines, (3) cooperation with other team members, (4) quality of the individual’s work, and (5) overall contribution to the projects.
- Sign the evaluation at the bottom and return it to the instructor no later than the last class. This evaluation will be reviewed by the instructor and may affect an individual group member’s case grades. You may use the back of this form to provide any written comments related to your group evaluation (all information disclosed will be kept confidential).
Group Members and Evaluation
| Group Member Name | Participation Score | |
| SELF: |
Student Signature
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