Formerly Graduate School of Industrial Administration (GSIA)
William Larimer Mellon, Founder
Schenley Park
Pittsburgh, Pennsylvania 15213-3890
United States of America

Pierre Jinghong Liang
Associate Professor of Accounting

Financial Statements and Fundamental Analysis

Tepper School of Business
Carnegie Mellon University

 
Instructor: Pierre Jinghong Liang
Spring 2011 Sections A, E and M 2011 Syllabus
Required Texbook: Penman, Stephen, Financial Statement Analysis and Security Valuation Second Edition, New York, NY: McGraw-Hill/Irwin, 2003 ISBN: 007253317X
 
Spring 2004 Sections A&E 2004 Syllabus
Required Texbook: Penman, Stephen, Financial Statement Analysis and Security Valuation Second Edition, New York, NY: McGraw-Hill/Irwin, 2003 ISBN: 007253317X
 
Course Objectives:
This course is designed to improve your ability to analyze financial reports and value companies. After completing this course, you will gain two valuable tools in your skill set: (1) financial statement analysis; and (2) equity valuation principles. The focus of financial statement analysis is a rigorous reformulation of published GAAP statements. The reformulation is needed to highlight the shareholder-value generation and distribution process of the firms. The focus of the equity valuation is theory-consistent valuation benchmarks. These benchmarks provide important guidance to further, more detailed firm valuation. Time permitting, we may cover special topics like accounting quality analysis, etc.
   
   
   
   

  English Version
Last updated May 2, 2005
send comments to liangj@andrew.cmu.edu 		Chinese Version
Last updated January 6, 2004
send comments to liangj@andrew.cmu.edu