Financial workshops 2400-FiR3WF
Course will tak place in summer semester in the form of combining lecture and teamwork exercises (solving tasks in groups and editing it in a spreadsheet). The method of teaching requires the student to work independently outside the classroom in a dimension 2h per week. Estimated total number of hours that a student should spend to achieve the learning outcomes is 60 hours (taking into account the teaching hours, the method of assessment, student independent work and team work).
A detailed plan of lectures and team-work topics (accounting part):
1) Rules for the valuation of assets and liabilities - fair value, adjusted purchase price, net selling price
2) Effects of assets valuation - revaluation, impairment, deferred tax
3) Impairment testing
4) Consolidated Financial Reporting
5) The full consolidation method
6) Determining the fair value of net assets of the subsidiary, positive and negative goodwill recognition and measurement
7) Equity method of consolidation
A detailed plan of lectures and team-work topics (business valuation part):
1) Business valuation: theoretical background and motives of business conduct, used models, problems with their practical application and analysis
2) Discounted cash flow valuation method, analysis and consideration of specific companies, forecasting future revenues
3) Forecasting the financial statements, normalization of data used later in the forecast, a detailed methodology for calculating the free cash flow for the firm and equity
4) WACC calculation (CAPM, beta leverage)
5) Comparative methods of business valuation, analysis of results
6) Students’ presentations
Type of course
Upon finishing the course student:
1) understands the principle of consolidation of financial statements
2) recognizes the link between entities within the capital group
3) understands the procedures for the consolidation of financial statements
4) understands the main methods of business valuation
1) can value items on financial statement
2) can analyze and explain the effects of changes in the value of assets and liabilities
3) can draw up consolidated financial statements (balance sheet and profit and loss account)
4) can carry out impairment test
5) can calculate the loss of asset value
6) can measure goodwill
7) can use DCF method or the multiplier methods to valuate an enterprise
1) can present the advantages and disadvantages of methods of consolidation of financial statements
2) can specify conditions for using the various methods of valuing companies
First part of workshops (accounting):
Attendance is mandatory. First part of workshop assessment consists of a written exam at the end of the semester (two tasks for total of 30 points and 20 single-choice test questions for 1 point each – in total 70% of the final assessment), and group work in class (solving tasks in groups on issues discussed during the course – 30% of final assessment). Test questions relate to the regulation of Polish Accounting Act. These tasks relate to the preparation of the consolidated balance sheet, profit and loss account and presentation of valuation effects.
Grading scale (tasks): more than 4 points => 5; 3 points => 4; 2 points => 3; 0-1 points => 2. For the final written assessment each student can get a maximum of 50 points. Grading scale (written exam): 41 to 50 points => 5; 31 to 40 points => 4; 21 to 30 points => 3; 0 to 20 points => 2. The final evaluation is the sum of 30% of the teamwork assessment grade and 70% of the final written assessment grade.
Second part of workshops (business valuation):
Attendance is mandatory. The basis for assessment is homework (5 pcs) and the final fifteen-minute presentation. Course participants will prepare homework in groups of 2-3 people. Delivery date for each homework is the day before the next classroom. For each homework, student can get from 0 to 1 point. For being late there is a penalty of 0.3 points. The final presentation is graded on a scale from 0 to 2 points. Final presentation is a must to obtain a positive assessment.
1. Zbigniew Messner (red.), Rachunkowość finansowa z uwzględnieniem MSSF, PWN, Warszawa 2007.
2. Artur Raciński, Konsolidacja sprawozdań finansowych, Polska Akademia Rachunkowości, Warszawa 2008.
3. Praca zbiorowa pod redakcja Marka Panfila i Andrzeja Szablewskiego, Metody
wyceny spółki : perspektywa klienta i inwestora, POLTEXT, Warszawa 2008.
4. Eugene F. Brigham, Joel F. Houston, Podstawy zarzadzania finansami, t. 2, red.
nauk. przekł. Ryszard Kokoszczynski, PWE, Warszawa 2005.
1. Ustawa z dnia 29 września 1994 r. o rachunkowości, tekst jednolity, tekst jednolity Dz. U. 2002 nr 76 poz. 694 z późniejszymi zmianami.
2. Jan Rak, Rachunkowość i finanse grupy kapitałowej, Warszawa 2004.
3. Krajowy Standard Rachunkowości nr 4 "Utrata wartości aktywów", Dziennik Urzędowy Ministra Finansów z dnia 20 lipca 2007 r. Nr 8 poz. 46
4. Praca zbiorowa pod redakcja Andrzeja Szablewskiego i Rafała Tuzimka, Wycena i
zarzadzanie wartoscia firmy, POLTEXT, Warszawa 2007.
5. Aswath Damodaran’s webpage, „Valuation”,
Information on level of this course, year of study and semester when the course unit is delivered, types and amount of class hours - can be found in course structure diagrams of apropriate study programmes. This course is related to the following study programmes:
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: