CORPFIN 7039NA - Equity Valuation & Analysis (M)
Ngee Ann Academy - Trimester 3 - 2017
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General Course Information
Course Details
Course Code CORPFIN 7039NA Course Equity Valuation & Analysis (M) Coordinating Unit Adelaide Business School Term Trimester 3 Level Postgraduate Coursework Location/s Ngee Ann Academy Units 3 Contact Up to 2 hours per week Available for Study Abroad and Exchange N Prerequisites ACCTING 7019NA, CORPFIN 7005NA, COMMERCE 7033NA, ECON 7200NA Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture Course Staff
Course Coordinator: Mr Graeme Gould
Course Timetable
The full timetable of all activities for this course can be accessed from .
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Learning Outcomes
Course Learning Outcomes
On successful completion of this course, students will be able to:
1. Conduct valuations based on the discounted cash flow method.
2. Conduct a relative valuation for a company.
3. Recognize conflicts of interest in valuation contexts
4. Critically analyse publically available information about what is occurring in financial markets.
5. Write a business valuation report.
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
2,4 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
5 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
4 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
5 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
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Learning Resources
Required Resources
Text Books (s)
Pinto, Henry, Robinson and Stowe, Equity Asset Valuation, 2nd Edition, John Wiley & Sons, 2010.
References
Damordaran, Aswath ‘Investment Valuation: Tools and techniques for determining the value of any asset’ 2nd edition, 2002, John Wiley & Sons.
Benninga, Simon Z and O.H Sarig, Corporate Finance: A Valuation Approach, International Edition, 1997, McGraw-Hill.
Lonergan, W., 2000, The Valuation of Business, Shares and Other Equity, 3rd Edition.
Lundholm, R. and R.Sloan. 2007. Equity Valuation and Analysis. 2nd Edition.
Reilly, Frank K. and K.C. Brown, Investment Analysis and Portfolio Management, 7th Edition, 2002.
Additional references
JASSA (The Finsia Journal of Applied Finance) Australian professional/ academic publication
Financial Analysts Journal. US professional/ academic publication
Arzac, E.R., Valuation for Mergers, Buyouts, and Restructuring, 2005, John Wiley & Sons.
Copeland, T., T.Koller and J.Murrin, Valuation: Measuring and Managing the Value of Companies, 3rd Edition, 2000.
Readings
Study guide, lecture notes & Additional readings
Please read study guide and lecture notes in advance of lectures -
Learning & Teaching Activities
Learning & Teaching Modes
First Intensive: Topics 1 - 4
Second Intensive: Topics 5-8Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular classes on a week basis (or equivalent).
Students in this course are expected to attend all intensive classes.Learning Activities Summary
Topic 1: An introduction to valuation and financial maths
Topic 2: Understanding financial reports and measuring earnings
Topic 3: Discounted cash flow models
Topic 4: Fundamental analysis and forecasting
Topic 5: Estimating the discount rate
Topic 6: Market based valuation
Topic 7: Takeovers
Topic 8: Financial distress and cross-shareholding -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment Task Weighting Learning Outcome Test (2nd Intensive) 10% All Assignment 20% All Final Exam 70% All Total 100% Assessment Related Requirements
To pass the course students must obtain at least 40% on the examination as well as at least 50% overall.Assessment Detail
Details of assignment and test will be distributed and discussed in class.Submission
Assignments are compulsory and must be submitted electronically.Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through .
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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Fraud Awareness
Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.
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