Insurance Management

Analysis of Financial Reports

Integrated course, 3.00 ECTS

 

Course content

In this course students are equipped with a structural understanding of financial reports. The focus is set on the relative analysis of corporate performance and value, based on publicly availble accounting information and comparables. A distinction is made between the financial sector and other industries.

The core contents of the course include:
[1] Analysis of financial reports; qualitative business analysis;
[2] Comparability of financial reports;
[3] EBITDA;
[4] Key indicators for non-financial companies;
[5] Key indicators for financial companies;
[6] Case study: comparative business analysis.
Optional contents include:
[7] Valuation by multiples;
[8] DCF valuation.

This course may be taught in English.

Learning outcomes

Successful participants in this module are able to derive corporate information from financial reports as prepared in line with international reporting standards. In particular they understand the structure of bank and insurer financial reports. Based on the attained information they can conduct relative analysis of the risk and performance of companies, for example, through comparative analysis of ratios and other indicators.

Post completion of this module, students possess professional competence in company analysis and finance, especially with regards to the documentation and evaluation of profitability and value. These skills are central to business controlling and decision making in the banking/insurance industry.

Recommended or required reading and other learning resources / tools

References: Althoff (2012): Einführung in die internationale Rechnungslegung: Die einzelnen IAS/IFRS, Gabler. Coenenberg et al (2012): Jahresabschluss und Jahresabschlussanalyse, Schäffer-Poeschel. Küting et al (2010): Der Konzernabschluss, Schäffer-Poeschel. Pellens et al (2011): Internationale Rechnungslegung, Schäffer-Poeschel. PWC (2012): IFRS für Banken: Band I und II, pwc. Rockel et al (2012): Versicherungsbilanzen, Schäffer-Poeschel. Werner/Padberg (2006): Bankbilanzanalyse, Schäffer-Poeschel. Zielke (2005): IFRS für Versicherungen, Gabler.
Academic journals: -

Mode of delivery

4 ECTS: ILV

Prerequisites and co-requisites

n/a

Assessment methods and criteria

ILV: final exam, assessment of active course participation