| 授業名 | Financial Analysis |
|---|---|
| Course Title | Financial Analysis |
| 担当教員 Instructor Name | Frendy |
| コード Couse Code | NUC420_N21A |
| 授業形態 Class Type | 講義 Regular course |
| 授業形式 Class Format | On Campus |
| 単位 Credits | 2 |
| 言語 Language | EN |
| 科目区分 Course Category | 専門教育科目 / Specialized Subject |
| 学位 Degree | BBA |
| 開講情報 Terms / Location | 2021 UG Nisshin Term2 |
授業の概要 Course Overview
Misson Statementとの関係性 / Connection to our Mission Statement
The Financial Analysis course employs active learning and case method where students will learn how to employ insights gained from the financial statements to make critical and strategic business decisions. This course should provide students with a basic understanding of concepts and techniques necessary to process information disclosed in financial statements as a basis for rational and ethical decision making as investors, entrepreneurs, and analysts.
授業の目的（意義） / Importance of this course
The Financial Analysis course provides students with understanding, tools, and hands-on experience on how to analyze and interpret financial statements from the perspective of investors, creditors, and other users of financial statements. Students are expected to write a comprehensive analysis of a publicly traded corporation at the end of the course. Students enrolled in this course must have a basic spreadsheet skill as the course will use Microsoft Excel extensively.
到達目標 / Achievement Goal
○ LG1 - Critical Thinking
■ Students can understand and apply financial statements analysis concepts such as financial ratios and financial forecasts.
■ Students evaluate how financial statements analysis helps users of financial statements users evaluate the performance of the reporting entity.
■ Students assess overall company success or failure using business analysis techniques and tools.
○ LG2 - Diversity Awareness
■ Students can apply the financial statements analysis knowledge to corporations operating in diverse industries and services.
○ LG3 - Ethical Decision Making
■ Students can understand the ethical consequences of fraudulent
financial reporting and apply techniques to measure the quality of financial statements.
○ LG4 - Effective Communication
■ Students are able to discuss the financial analysis case in small-group and class settings.
■ Students can write a comprehensive business analysis report for a publicly listed company.
■ Students can understand and apply financial statements analysis concepts such as financial ratios and financial forecasts.
■ Students evaluate how financial statements analysis helps users of financial statements users evaluate the performance of the reporting entity.
■ Students assess overall company success or failure using business analysis techniques and tools.
○ LG2 - Diversity Awareness
■ Students can apply the financial statements analysis knowledge to corporations operating in diverse industries and services.
○ LG3 - Ethical Decision Making
■ Students can understand the ethical consequences of fraudulent
financial reporting and apply techniques to measure the quality of financial statements.
○ LG4 - Effective Communication
■ Students are able to discuss the financial analysis case in small-group and class settings.
■ Students can write a comprehensive business analysis report for a publicly listed company.
本授業の該当ラーニングゴール Learning Goals
*本学の教育ミッションを具現化する形で設定されています。
LG1 Critical Thinking
LG2 Diversity Awareness
LG3 Ethical Decision Making
LG4 Effective Communication
LG6 Managerial Perspectives (BBA)
LG2 Diversity Awareness
LG3 Ethical Decision Making
LG4 Effective Communication
LG6 Managerial Perspectives (BBA)
受講後得られる具体的スキルや知識 Learning Outcomes
After completion of the course, students are expected to be able to:
1. Understand the role of financial analysis in the context of business decision makings.
2. Use financial statements and other relevant information to diagnose management problems.
3. Critically read, analyze, and discuss case studies related to financial analysis.
4. Effectively use financial statements and other resources to evaluate the financial well-being of a publicly listed company.
1. Understand the role of financial analysis in the context of business decision makings.
2. Use financial statements and other relevant information to diagnose management problems.
3. Critically read, analyze, and discuss case studies related to financial analysis.
4. Effectively use financial statements and other resources to evaluate the financial well-being of a publicly listed company.
SDGsとの関連性 Relevance to Sustainable Development Goals
Goal 9 産業と技術革新の基盤をつくろう（Industry, Innovation and Infrastructure）
教育手法 Teaching Method
| 教育手法 Teaching Method | % of Course Time | |
|---|---|---|
| インプット型 Traditional | 20 % | |
| 参加者中心型 Participant-Centered Learning | ケースメソッド Case Method | 80 % |
| フィールドメソッド Field Method | 0 % | 合計 Total | 100 % |
事前学修と事後学修の内容、レポート、課題に対するフィードバック方法 Pre- and Post-Course Learning, Report, Feedback methods
This course combines the use of three learning methods: summaries of concepts and tools from the instructor; case analysis and discussion; and writing an independent business analysis project.
Case Method Learning
It is important that students adequately prepare for assigned case discussions prior to each class session. Students will be expected to read the case before the actual class discussion. Individual case solutions to assignments should be uploaded to Google Classroom before the class and it will be graded.
At the beginning of each class session, 20 minutes will be dedicated to group discussions on the case that have been assigned for discussion on that day. The member of each group will be randomly assigned at the beginning of each class session. Within the group, students are expected to reflect on they would answer the assigned questions. Then students should clarify their analysis in the class discussion session. Active discussion on both the group and in-class sessions is encouraged and will be assessed.
Individual Financial Analysis Project
The project will provide students an opportunity to apply all the financial analysis tools and skills they learned throughout the course for a real-world publicly traded company. The company selection must be pre-approved by the instructor to prevent duplicate works. The project will be developed gradually throughout the term, as you learn various aspects of business analysis. Further details on this project will be provided in the class.
Case Method Learning
It is important that students adequately prepare for assigned case discussions prior to each class session. Students will be expected to read the case before the actual class discussion. Individual case solutions to assignments should be uploaded to Google Classroom before the class and it will be graded.
At the beginning of each class session, 20 minutes will be dedicated to group discussions on the case that have been assigned for discussion on that day. The member of each group will be randomly assigned at the beginning of each class session. Within the group, students are expected to reflect on they would answer the assigned questions. Then students should clarify their analysis in the class discussion session. Active discussion on both the group and in-class sessions is encouraged and will be assessed.
Individual Financial Analysis Project
The project will provide students an opportunity to apply all the financial analysis tools and skills they learned throughout the course for a real-world publicly traded company. The company selection must be pre-approved by the instructor to prevent duplicate works. The project will be developed gradually throughout the term, as you learn various aspects of business analysis. Further details on this project will be provided in the class.
授業スケジュール Course Schedule
第1日（Day1）
The Basics of Financial Analysis●使用するケース
Ramanna, K., Serafeim, G. and Sesia, A. (2013) "Urban Water Partners (A)" Harvard Business School No. 111016.第2日（Day2）
Understanding and Analyzing Income Statements●使用するケース
Frendy (2021) “Financial Statements Analysis of Seven & i Holdings Co. (2019-2021) (A)” NUCB Undergraduate School. Case ID: 21976.第3日（Day3）
Understanding and Analyzing Balance Sheets●使用するケース
Frendy (2021) “Financial Statements Analysis of Seven & i Holdings Co. (2019-2021) (B)” NUCB Undergraduate School. Case ID: 21977.第4日（Day4）
Financial Ratio Techniques●使用するケース
Goyal, V. and Mitra, S. K. (2016) “Anandam Manufacturing Company: Analysis of Financial Statements” Ivey Publishing No. W16204.第5日（Day5）
Understanding and Analyzing Cash Flow●使用するケース
Price III, Richard A. (2013) "Cash Flows at Amazon.com" Issues in Accounting Education, Vol. 28, No. 2, American Accounting Association.第6日（Day6）
Evaluating Fraud Risk●使用するケース
Hess, Megan F. & Andiola, Lindsay M. (2018) "Fraud Risk Brainstorming at Tesla Motors" Issues in Accounting Education, Vol. 33, No. 2, American Accounting Association.第7日（Day7）
Financial Analysis Simulation●使用するケース
Narayanan, V. G. & Srinivasan, S. (2018), "Financial Analysis Simulation: Data Detective" Harvard Business School No. 8742.成績評価方法 Evaluation Criteria
*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
The final grade distribution will be assigned following the following criteria:
• 90–100 S
• 80–89 A
• 70-79 B
• 60-69 C
• 40-59 F-Retry
(Students could apply for a make-up report and get another opportunity to revise the final report. Students who submit the revised final report that pass the grade of 60 will be assigned with C grade)
• Below 40 F
Academic Integrity:
Academic integrity is essential to ensure genuine learning. There is no tolerance for plagiarism or academic dishonesty in any form, including, but not limited to, sharing answers with others, copying answers or papers, or passing off someone else’s work as one’s own.
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
| 講師用内規準拠 Method of Assessment | Weights |
|---|---|
| コールドコール Cold Call | 0 % |
| 授業内での挙手発言 Class Contribution | 45 % |
| クラス貢献度合計 Class Contribution Total | 45 % |
| 予習レポート Preparation Report | 25 % |
| 小テスト Quizzes / Tests | 0 % |
| シミュレーション成績 Simulation | 0 % |
| ケース試験 Case Exam | 0 % |
| 最終レポート Final Report | 30 % |
| 期末試験 Final Exam | 0 % |
| 参加者による相互評価 Peer Assessment | 0 % |
| 合計 Total | 100 % |
評価の留意事項 Notes on Evaluation Criteria
The final report represent 30% of the grade. Students are expected to ask questions and actively contribute to the class discussions. Discussion activities in the class will be graded and they represent 45% of the total grade. The individual case studies assignments contributes to 25% of the grade.The final grade distribution will be assigned following the following criteria:
• 90–100 S
• 80–89 A
• 70-79 B
• 60-69 C
• 40-59 F-Retry
(Students could apply for a make-up report and get another opportunity to revise the final report. Students who submit the revised final report that pass the grade of 60 will be assigned with C grade)
• Below 40 F
Academic Integrity:
Academic integrity is essential to ensure genuine learning. There is no tolerance for plagiarism or academic dishonesty in any form, including, but not limited to, sharing answers with others, copying answers or papers, or passing off someone else’s work as one’s own.
教科書 Textbook
- Thomas R. Robinson, Elaine Henry, Wendy L. Pirie, Michael A. Broihahn, Anthony T. Cope「International Financial Statement Analysis, 3rd Edition」John Wiley & Sons, Inc.（2015）978-1-118-99947-9
参考文献・資料 Additional Readings and Resource
Information on mandatory readings will be given in the Google Classroom before the class meeting. The textbooks are for your reference and the instructor will deliver summaries of key concepts during the case discussion.
授業調査に対するコメント Comment on Course Evaluation
Teaching this course for the first time.
担当教員のプロフィール About the Instructor
Frendy, Ph.D., CPA (inactive), completed his doctorate and master's degree at the Graduate School of Economics, Nagoya University, where he received the Japanese Government scholarship. He obtained a B.S. in Economics (Honors), majoring in accounting from Universitas Gadjah Mada, Indonesia. He holds an inactive U.S. Certified Public Accounting license from the State of Illinois and is a member of the American Institute of CPAs, the Institute of Management Accountants, and the Japan Accounting Association. He participated in the 2019 Global Colloquium on Participant-Centered Learning Workshop and the 2020 Case Writing Workshop at Harvard Business School.
His research interests include sustainable development, sustainability reporting & disclosures, corporate governance, audit, and financial accounting. He has presented papers at the American Accounting Association Annual Meeting, the European Accounting Association Annual Congress, the Japan Accounting Association Annual Conference, and other international conferences. He has published articles in international journals such as the Journal of Contemporary Accounting and Economics, the Journal of Accounting Literature, the Asian Review of Accounting, Regional Studies, Regional Science, and the Asia-Pacific Journal of Accounting & Economics. He serves as an editorial board member of the Indonesian Journal of Accounting Research and the Journal of Indonesian Economy and Business.
（実務経験 Work experience）
He has work experience as an audit associate at KPMG Indonesia, one of the global Big 4 audit firms, and as an external expert for a change management project for Kreston Digital Indonesia.
Refereed Articles
- (2024) Environmental Greenwashing in Japan: The Roles of Corporate Governance and Assurance. Meditari Accountancy Research 32(7): 2049-372X
- (2024) The application of the organizational learning perspective in explaining the government's internal auditor’s role development. Jurnal Tata Kelola Dan Akuntabilitas Keuangan Negara 10(1): 2549-452X
- (2024) Examining the Ability of Big Data Analytics to Investigate Financial Reporting Quality: A Comprehensive Bibliometric Analysis. Journal of Financial Reporting and Accounting 1985-2517
- (2024) Leveraging place-based resources for quality education: insights from a forest community outreach project in Japan. International Journal of Sustainability in Higher Education 1467-6370
- (2023) Digitalization in management accounting systems for urban SMEs in a developing country: A mediation model analysis. Cogent Economics & Finance 11 2332-2039