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This unit of study develops a framework of fundamental analysis for equity investment. Fundamental analysis utilises publicly available information for estimating the intrinsic value of common stock using earnings-based valuation models. The aim is to discover investment opportunities of stocks that are not accurately valued by the market and take a long investment position. Fundamental analysis relies on the analysis of financial statement information, which must be reformulated with a strict focus on core operating performance. The financial information is complemented by data from the company's environment including its business strategy, competitive threats and macroeconomic factors. The unit of study places particular emphasis on developing a structural approach to financial ratio analysis, including the analysis of sales growth and abnormal operating return, as well as the analysis of earnings quality and reporting strategy. It also discusses the impact of behavioural biases on equity investment decisions. This unit prepares students for a successful career in equity investment analysis.
Code | ACCT6003 |
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Academic unit | Accounting |
Credit points | 6 |
Prerequisites:
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ACCT5001 and (FINC5001 or BUSS5514) |
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Corequisites:
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None |
Prohibitions:
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None |
Assumed knowledge:
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QBUS5001 or QBUS5002 |
At the completion of this unit, you should be able to:
Unit outlines will be available 2 weeks before the first day of teaching for the relevant session.
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