KONTRAK PERKULIAHAN

BUSINESS ANALYSIS AND VALUATION

PROGRAM STUDI MAGISTER ILMU AKUNTANSI

FAKULTAS EKONOMI DAN BISNIS - UNIVERSITAS AIRLANGGA

KONTRAK PERKULIAHAN
BUSINESS ANALYSIS AND VALUATION
Deskripsi Mata Kuliah
Mata kulliah ini mengajarkan kepada mahasiswa tentang bagaimana para analis
keuangan, calon investor, investor memanfaatkan informasi keuangan yang disajikan
dalam laporan keuangan untuk mengevaluasi kondisi keuangan suatu perusahaan dan
valuasi sebagai bahan pertimbangan dalam pengambilan keputusan investasi pada surat
berharga. Disamping ittu juga dipakai sebagai bahan evaluasi terhadap kinerja
perusahaan, sehingga dapat diketahui kekuatan dan kelemahan perusahaan untuk
pertimbangan keputusan manajemen dalam rangka peningkatan nilai perusahaan.
Tujuan Instruksional Umum
Setelah mempelajari mata kuliah ini, mahasiswa diharapkan dapat menganalisis dan
mengevaluasi informasi keuanganyang disajikan dalam laporan keuangan. Sebagai bahan
pertimbangan dalam menentukan nilai (valuasi) dan risiko untuk pengambilan keputusan
investasi dan keputusan manajemen bagi pihak emiten dalam rangka peningkatan nilai
perusahaan.
Metode Kuliah
Pengajaran mata kuliah ini diselenggarakan dalam bentuk diskusi kelas. Peserta diberi
tugas membuat resume dari pokok-pokok bahasan yang ada pada buku wajib maupun
buku tambahan, mempresentasikan di kelas dan diskusi dengan pengarahan dosen yang
mengajar.
Penilaian Prestasi
Mekanisme Penilaian
Item Penilaian
-

Tugas dan Kuis

Bobot
30 %

- Partisipasi dalam diskusi

30 %

- Ujian

40 %

Ketentuan lain yang harus dipenuhi

1. Kehadiran kuliah mahasiswa minimal 75%
dari total Tatap Muka.
2. Tugas dibuat untuk didiskusikan dan harus
dikumpulkan pada minggu berikutnya

(setelah tugas diumumkan).

Total

100 %

3. Kuis diberikan se waktu waktu

Buku Wajib
1. Palepu, Healy, Bernard, 2013. Business Analysis and Valuation, 5th edition,
South-Western College Publishing. (code : PHB)
2. Wild, John J, Subramanyan, Halsey, 2009. Financial Statement Analysis,
10th edition, Mc Graw Hill (code: WSH)...11th edition
3. Ellis J. Williams, David, 1993. Corporate Strategy and Financial Analysis,
Pearson Education Limited.
4. Foster, George, 1986. Financial Statement Analysis, 2nd edition, Prentice
Hall, New Jersey. (code : GF)
Rencana Kuliah
Minggu
Pokok
ke
Bahasan
1
A Framework
of for Business
Analysis and
Valuation
Using Financial
Stataement
dan Business
Strategy
Analysis

2,3

Overview and
implementing
Accounting
Analysis

Sub Pokok Bahasan

Bacaan

- The role of financial reporting in capital

PHB Ch.1,2
market
- The demand and supply for financial GF Ch. 1, 2
statement information
- From business activities to financial
WSH Ch. 1
statement
- From financial statement to business
analysis
- Industry analysis
- Degree of actual and potential competition
- Bargaining power in input and output
markets
- The power of supply and buyers
- Competitive strategy analysis
- Corporate strategy analysis
- Institutional framework for financial
PHB Ch. 3,4
reporting
- Accrual accounting
GF Ch. 4,5
- Delegation of reporting to management

Dosen
SMS

WDW

Financial
Analysis

Prospective
Analysis:
Forecasting

Prospective
Analysis:
Valuation
Theory and
Concepts

Prospective
Analysis:
Valuation
Implementation

- Factors influencing accounting quality

- Steps in performing accounting analysis
- Value of accounting data and accounting
analysis
- Recasting financial statement
- Overstated and understated assets
- Understated liabilities
- Equity distortion
- Ratio analysis
- Decomposing profitability
- Assessing operating management
- Evaluating investment management
- Evaluating financial management
- Assessing sustainable growth rate
- Cash flow analysis
-

Overall structure of forecast

Practical framework of forecast
Performance behavior
Sales growth behavior
Earnings behavior
Relationship of forecasting to other
analysis
Making forecasts
Sensitivity analysis
Defining value for shareholder
Discounted dividends valuation models
Discounted abnormal earnings valuation
models
Valuation using price multiples
Shortcut forms of earnings based
valuation
Discounted cash flow model
Comparing valuation methods
Computing a discount rate
Detailed forecasts of performance
Terminal values
Computing assets and equity va;ues
Some practical issues in valuation

WSH Ch. 2,
3, 4, 5, 6.

PHB Ch.5

WDW

GF Ch.3,6,7
WSH Ch. 7,
8
PHB Ch. 6
GF Ch. 8

SMS

WSH Ch. 9

PHB Ch. 7

SMS

GF Ch. 12
WSH Ch 9

PHB Ch. 8

SMS

WSH Ch 9

UJIAN TENGAH SEMESTER

8

Capital Market
and Financial
Information

- Investor objective and investment vehicle

- Equity security analysis and market
efficiency
- Active and passive managementinvestment approach

PHB Ch. 9
GF Ch. 9,11

SMS

Assets Pricing
and Financial
Statement
Information

10

Loan Decisions
and Financial
Information

11

Debt Rating,
Credit Analysis
and Distress
Prediction

12

Corporate
Restructuring
and Financial
Information

13

Communication
and
Governance

- Capital market reaction to firm oriented

announcements
- Association between security returns and
account earning
- Market efficiency anomalies
- Equilibrium theories of equity security
expected returns (CAPM, APT and
linkage between CAPM and APT)
- Equilibrium theory of option pricing
- Economic determinants of beta and
variance
- Estimation of beta and variance
- Information source for loan decisions
- Descriptive analysis of existing loans
decision
- Quantitative approach to loan decision
- Existing loan decision and accounting
alternatives
- Rating of debt securities
- Market for credit
- Credit analysis process in private debt
markets
- Financial statement analysis and public
debt
- Prediction of distress and turnaround
- Explaining corporate restructuring behavior
- Source of value in corporate restructuring
- Information source about firm value
- Motivation for merger and acquisition
- Acquisition pricing
- Acquisition financing and form of payment
- Acquisition outcome
- Governance overview
- Management communication with
investor
- Communication through financial
reporting
- Communication through financial policies
- Alternate forms of investor
communication

GF Ch. 10

NA

GF Ch. 16

NA

WSH Ch 11
PHB Ch. 10
PHB Ch. 10

NA

GF Ch.14,
15

PHB Ch. 11
GF Ch. 13

NA

PHB Ch. 12

NA

14

Kasus- Kasus

UJIAN AKHIR SEMESTER

Dosen:
Dr. Wiwiek Dianawati, MSi., Ak.
Prof. Dr. Hj Sri Maemunah Soeharto, SE.
Nartyan Adhana, SE., MBA.

(WDW) PJMK
(SMS)
(NA)