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SYLLABUS

ANALISIS DAN VALUASI BISNIS


(BUSINESS ANALYSIS AND VALUATION)
ECAU601421
SEMESTER XXXX/XXXX
No.
1.
2.
3.
4.
5.
6.
7.
8.

Lecturers

Subject Code
Subject Title
Credit Value
Pre-requisite /
Co-requisite /
Exclusion
Role and
Purposes

E-mail

ECAU601421
Business Analysis and Valuation
3
Advanced Financial Accounting 1
Investment and Capital Market
This course is part of the financial accounting class. The course
aims on giving deep understanding to the students about financial
statements and notes to financial statement with emphasis on
how to interpret, analyze, compare, and justify arguments on the
financial statements and notes to financial statement. This course
will help students to develop strong analytical skills and critical
thinking (Outcome 4). The analyses focus on the appropriateness
of accounting policies used in operating, investing, and financing
activities, as well as cash flow, profitability, prospective and credit
analysis. Students will be provided by concept and framework to
analyze the financial statements quality of earnings, and make a
presentation and communicate it in English (Outcome 1).

Subject
Learning
Outcomes

Detailed
Course
Work Plan

Upon completion of the subject, student will be able to :


1. Evaluate the appropriateness of accounting policies used
to prepare financial statements. (T3)
a) Understand
the
financial
report
mechanics,
standards and related accounting policy particularly
under IFRS, and evaluate the appropriateness of
their use in preparing financial statements.
b) Understand and analyze the financial statement and
evaluate the appropriateness of policies on the
financial statement.
c) Understand and analyze the component of financial
statement and evaluate the appropriateness of
policies on assets, liabilities, income, taxes,
employee
compensation,
and
intercorporate
investment in multinational operations.
2. Interpret financial statements and related disclosures (T5)
d) Understand the concept and framework to analyze
and interpret the financial statements.
e) Analyze and interpret the income statement,
financial position and cash flow statement.
3. Interpret reports that include non-financial data, for
example, sustainability reports and integrated reports (T6)
f) Analyze and interpret the integrated financial
statements.
4. Demonstrate, evaluate, analyze and compare alternatives
choices (C2)
g) Understand and compare the financial analysis
techniques.
5. Demonstrate to justify an argument or solution with
supporting evidence/relevant references (C3)
h) Understand, evaluate, and justify arguments on the
financial report quality.
Week #

Topic

Introduction to Financial
Statement Analysis
Scope of financial Statement
Analysis
Major Financial Statement and
Other Information Sources
Financial Statement Analysis
Framework

REVIEW ON FINANCIAL
STATEMENT
Financial Report Mechanics
Classification of Business

L
O
a

Required
Reading
RHP 1

RHP 2
RHP 3
PSAK
Concept

Activities
Accounts and Financial
Statements
Accounting Process
Accrual and Valuation
Adjustments
Accounting systems

ual
Framewo
rk

Financial Report Standard


The Objective of Financial
Reporting
Standard Setting Bodies and
Regulatory Authorities
The International Financial
Reporting Standard (IFRS) vs
Pernyataan Standar Akuntansi
Keuangan Indonesia (PSAK)
Effective Financial Reporting
Monitoring Developments in
Financial Reporting Standards.

Weekly Assignment 1
Understanding Income
Statements
Components and Format of
the Income Statements
Revenue Recognition
Expense Recognition
Discontinued Operations
Changes in Accounting Policy
Earnings per Share
Comprehensive Income
Analysis of Income Statement

b
e

Understanding Statement of
Financial Position
Components and Format of
The Statement of Financial
Position
Current Assets and Current
Liabilities
Non-current Assets
Non-current Liabilities
Equity
Analysis of Statement of
Financial Position
Capital structure concept

Weekly Assignment 2
General Lecturing
Learning from the expert: The
Use of Financial Statement

e
f
g

RPH 4
PSAK 1
PSAK 23
PSAK 25
PSAK 58

RHP 5
PSAK 1
PSAK 4
PSAK 65

Understanding Statement of Cash


Flow
Components and Format of
the Statement of Cash Flow
Classification of Cash Flows
and non-cash Activities
Operating Activities
Statement of Cash Flow
Analysis
Equity
Analysis of Statement of
Financial Position
Free Cash Flow
Dividend payout concept

RHP 6
PSAK 2

RHP 7
PSAK 5

d
h

RHP 11
RHP 17

d
g

RHP 12

b
e

d
g

Financial Analysis Techniques


The Financial Analysis Process
Analytical Tools and
Techniques
Common Ratios Used in
Financial Analysis
Equity Analysis
Credit Analysis
Business Segments
Model Building and
Forecasting

Weekly Assignment 3
Financial Reporting Quality
Conceptual Overview
Context for Assessing Financial
Reporting Quality
Detection of Financial
Reporting Quality Issues
Evaluating Quality of Financial
Reports
Quality of Financial Reports
Evaluating the Quality of
Financial Reports
Earnings Quality
Cash Flow Quality
Balance Sheet Quality
Sources of Information about
Risk
Ethical Consideration

Weekly Assignment 4
Financial Statement Analysis
Applications
Evaluating Past Financial
performance

Projecting Future Financial


Performance
Assessing Credit Risk
Screening for Potential Equity
Investments
Management Discussion
& Analysis section of
Listed Companies Annual
Reports
Securities
analysts
reports on listed company
performance
and
projection
Analysis Adjustments to
Reported Financials

Weekly Assignment 5
Submission of Final Assignment Progress Report 1
ANALYSIS OF ASSETS
Inventories
Cost of Inventories
Inventory Valuation Methods
Inventory Method Changes
Inventory Adjustments
Evaluation of Inventory
Management

10

Weekly Assignment 6
Analysis of Liabilities
Bond Payable
Leasing
Off balance sheet liabilities
Evaluating Solvency: Leverage
and Coverage Ratios
Weekly Assignment 7
Analysis of Income Taxes
Differences Between
Accounting Profits and Taxable
Income

RHP 8
RHP 9
PSAK 13
PSAK 14
PSAK 16
PSAK 19
PSAK 58

Collaborative
Learning

Long Lived Assets


Acquisition of Long Lived
Assets
Depreciation and amortization
The Revaluation Model
Impairment of Assets
Derecognition of Long Lived
Asset
Investment Property
Off balance sheet assets

RPH 10
PSAK 50
PSAK 55
PSAK 60

Collaborative
Learning
c

RPH 13
RPH 14
PSAK 18
PSAK 24

Determining the Tax Base


Temporary and Permanent
Differences
Tax Losses and Tax credit
Recognition and Measurement
of Current and Deferred Tax

PSAK 46

Collaborative
Learning

Analysis of Employee
Compensation
Pension and Other Postemployment Benefits
Share-based Compensation

11

12

Weekly Assignment 8
Submission of Final Assignment Progress Report 2
General Lecturing
Learning from the expert: Merger
& Acquisition
Analysis of Intercorporate
investments
Basic Corporate Investment
Investment in Financial Assets
Investment in Associates and
Joint Ventures
Business Combination
Merger and acquisition
Analysis of Multinational
Operations
Foreign Currency Transaction
Translation of Foreign
Currency Financial Statements
Disclosure of hedging
strategy for multinational
company
Other Issues in Multinational
Operations

13
14

RHP 15
RHP 16
PSAK 10
PSAK 12
PSAK 15
PSAK 22
PSAK 55

Group
Presenta
tion
Collaborative
Learning

Integration of Financial
Statement Analysis Techniques
Case Study 1
Case Study 2
Weekly Assignment 9
Submission of Final Assignment Final Report
Group presentation Final
Assignment
Group Presentation Final
Assignment

g
h
g
h

RHP 18

Teaching/L
earning
Methodolo
gy

Teaching method uses active lecturing and class discussions, in


which students achieve the study objectives by discussing and
completing related cases under the guidance of lecturer. The
cases are related to the topics for the session, and can be
downloaded from IDX, or from current developing issues.
Students must make a group which consists of 3 students. Each
group must pick 1 publicly listed company (excluding financial
industry) from the beginning of the session, and use that
company annual report as a basis for weekly and final
assignment throughout the semester.
Weekly Assignments
Each group will be given assignment based on each topic of the
session. The assignment will be given and have to be completed
during the session. This weekly assignment should be compiled
throughout the semester. At the end of the semester, 7 out of 9
weekly assignments will be regarded as individual assignment.
Final Assignment
Each group has to write a complete report, which consists of
following items:
- Summary of financial statement analysis based on weekly
assignments
- Financial performance comparison with another company in
the same industry
- 3 years forecasted financial statement, supported with
underlying assumptions and analysis
- Equity valuation based on companys cash flow
- Recommendation (buy/sell/hold)
Each group must submit progress report 1 (session 7), progress
report 2 (session 10) and final report (session 12).
Each group will present the final report during session 13 and 14.
Case Study
There will be 2 case study discussed during session 12. The case
study will be distributed during session 11. Each case study will
be assigned randomly to each group. Each case study will be
presented by appointed group and the other groups will comment
and criticize the presentation.
Guest Lecture
There will be 2 guest lectures for session 4 (The Use of Financial
Statements) and 11 (Mergers & Acquisition).

Assessmen
t Method in
Alignment
with
Intended
Learning
Outcomes

Specific
Assessment
Methods/Ta
sks

Intended Learning Outcomes to be


Assessed
A

Continuous
Assessment
GROUP
Case Study 1
(5%)
Case Study 2
(5%)
Presentation
(5%)
Final
Assignment
(20%)
INDIVIDUAL
Mid Term
Exam (30%)
Final Term
Exam (30%)
Individual
Assignment
(15%)

Details of
Learning
Methods

%
Weighti
ng

100%
25%

1
0
%

10
%

20
%

40
%

10
%

10%

75%

40
%

30
%

30
%

The specific learning methods used in this subject are :


1. Lecturing
2. Case-Based Learning
In most of sessions uses case-based learning, in which
students are divided into groups and discuss the specific
cases in group. Each group is responsible for certain topic
and the case must be related with the topic of the session.
Finally, each group will present the case and discuss with
other group facilitated by the lecturer. Result of the
presentation and discussion are expected to improve
students understanding about the concept and the
implementation based on cases. These presentation
sessions are also expected to benefit the students to learn
the analysis from other groups cases.
3. Collaborative Learning
At session 8 until 12 uses collaborative learning with
simple jigsaw approaches, in which students are divided
into groups and discuss the specific cases in Home Group
Discussion (HGD) and Focus Group Discussion (FGD). The
cases are divided into several topics for FGD and then all
of FGDs topics will be discussed in HGD. In each
discussion (FGD and HGD) students will assess their peer
in a peer review form. Finally, each group will present the
result of discussion with the lecturer as facilitator. Result of

the discussion and presentation are expected to improve


students understanding about the concept and the
implementation used on cases. This presentation session
are also expected to benefit the students to learn from
other focus group discussion.

Student
Study
Effort
Expected

Reading
List and
References

Class Contact :
Lectures
Case-Based Learning
Collaborative Learning
Presentation
Other Student Study Effort :
Preparation for Project/Assignment/Tests

15 Hours
27 Hours
12 Hours
4 Hours
40 Hours

Required Readings :
1. Robinson, T.R., Henry, E., Pirie, W.L., Broihahn, M.A., and
Cope., A.t. (2015). International Financial Statement
Analysis, 3rd Edition. New Jersey: John Wiley and Sons
(RHP)
2. Standar Akuntansi Keuangan. Ikatan Akuntan Indonesia,
2015. (PSAK)
Supplementary Readings :
1. Wild, John J., and K.R. Subramanyan. Financial Statement
Analysis, 10th Edition, McGraw-Hill, 2009. (WSH)