Le Grand Syllabus 2017/2018
Teachers : Michael MCWILLIAMS (Chartered Accountant). Prerequisite : By deﬁnition, being an introductory course, no particular accounting knowledge is assumed. That said, any time spent on a basic text dealing with the mechanics of accounting should prove beneﬁcial (see below). Pedagogical Format : Seminar Course validation : The course is assessed on the basis of two examinations : mid-term exam worth 40%, ﬁnal exam worth 60%. Workload : 12 lectures of two hours each (24 hours). Credits : 4. Pedagogical Method : The course is progressive, each lecture introduces new material, and as required deals with homework when distributed by email at the close of the previous lecture. Course Description : The course will cover the following topics : Fundamental notions and basic structure of accounting systems (debit / credit / journal entries / general ledger / trial balance / ﬁnancial statements) ; distinction between routine and adjusting entries. Concentration on these latter (accruals, provisions, depreciation, gain/loss on asset disposal etc). Generation of Proﬁt and Loss Account, Balance Sheet from Trial balance. Fundamental accounting principles. Concept of Anomaly. Interpretation of Balance Sheet / Proﬁt and Loss Account. Introduction to International Accounting Standards (IAS-IFRS). Examination in particular of : Statement of Cash Flow (IAS 7) Accounting Estimates and Errors (IAS 8) PPE (IAS 16) ; Impairment (IAS 36) Intangible Assets (IAS 38) Required reading : Each student at liberty to choose a basic accounting text and to concentrate on the mechanics of accounting.
Course validation : The course is assessed on the basis of two examinations : a mid-term exam (40%) and a ﬁnal exam (60%). Workload : Lecture (24h). Credits : 4. Pedagogical Method : Each lecture introduces theoritical tools and case studies for illustrative purposes. Course Description : How to apprehend today the question of asset valuation, or more simply "how much is it worth" or "is it proﬁtable ?" These key questions are nowadays a central component of complex economic and ﬁnancial issues such as industrial strategies, value creation, the role and the transformation of ﬁnancial markets, corporate ﬁnance. The course aims to provide basic theoretical tools in corporate ﬁnance to better understand and analyze these issues. The course is divided into 4 parts : Financial Statements and Analysis ; Reminder of basic ﬁnancial theoretical tools such as discount concepts, capitalization, return rates and present value ; Practical application : company valuation ; Financial consequences of operation and paid for in shares for M&A and LBO practices. These concepts are essential to both students preparing for careers in ﬁnance and to all those who wish or have an overall vision of a company and its market environment or, more simply, want to master the basics of ﬁnancial calculation. Required reading : McKinsey & Company, Valuation Workbook, John Wiley & Sons, Sixth Edition ; Aswath Damodaran, Investment Valuation University Edition, Wiley Finance, 3rd Edition ; Aswath Damodaran, The Little Book of Valuation, John Wiley & Sons, 2011 ; J. Rosenbaum and J. Pearl, Investment Banking University Edition, John Wiley & Sons, Second Edition.
FINANCIAL MACROECONOMICS FINANCIAL ANALYSIS
Semester : Autumn Number of hours : 24 Language of tuition : English Semester : Autumn Number of hours : 12 Language of tuition : English
Opened to the exchange program
Teachers : Olivier SCHWAB (Associé - Expert en Evaluation Financière, NG Finance). Prerequisite : None Pedagogical Format : Seminar 1330
Teachers : Guillaume SARRAT de TRAMEZAIGUES (Executive Director of Sciences Po Paris Department of Economics). Prerequisite : Introduction to microeconomics, introduction to macroeconomics, core quantitative methods.