Dr. P.V. Viswanath



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EDHEC: Firm Valuation
Course Outline and TimeTable


Summer 2009


Class Meeting session and Days


Reading and other Assignments

Session 1
June 22, 9:00a to 12:00 noon

Introduction to Financial Statements (Slides)



Session 2
June 24, 9:00a to 12:00 noon

Value Creation (Slides): Chapter 3
Talk by Mr. Karl Mergenthaler, 10:30 to noon

Assignment: Compute the financial ratios for CAKE (use Excel Spreadsheet available on Blackboard)
Additional financial information on CAKE and competitors can be obtained from the Mergent Database as well as from the NetAdvantage Database.
Compute the capitalized value of operating leases using 10K information

Session 3
June 26, 9:00a to 12:00 noon

Thinking about Return on Invested Capital and Growth (Slides): Chapter 6


Five minute presentation (per group) on CAKE versus its competitors based on financial ratio analysis -- look only at SNS (Steak n Shake), BOBE (Bob Evans Farms) and PFCB (PF Chang’s China Bistro).

Session 4
June 29, 9:00a to 12:00 noon

A Framework for Valuation (Slides): Chapter 5, 7


Session 5
July, 1:00a to 12:00 noon

Estimating the Cost of Capital (Slides): Chapter 10

Make forecasts regarding Cashflow components and cashflows -- each group will focus on a different aspect (details on Assignment page)

Session 6
July 2, 9:00a to 12:00 noon

Putting everything together

Final Exam


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