FIN 4853 - Financial Analysis
Fall 2026 Syllabus, Section 01, CRN 41103,
Credit hours: 3
Course Meeting Times
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Instructor
Rongyao Zhang
Email: rzhang02@ysu.edu
Course Description
This course equips students with the practical skills and global mindset essential for rigorous financial statement analysis in today’s interconnected markets. Moving beyond textbook theory, the curriculum emphasizes real-world application through the critical evaluation of financial reporting standards, information quality, and disclosure practices. Students will master a comprehensive suite of analytical techniques, including profitability and ratio analysis, adjustment and restatement of financial statements, cash flow analysis, the market impact of accounting choices, earnings quality, intangibles, credit analysis, and credit ratings, and financial statement forecasting.
Course Readings
| Group | Title | Author | ISBN |
|---|---|---|---|
| Required | Financial Statement Analysis & Valuation | Peter D. Easton, Mary Lea McAnally, Steven S. Crawford, Gregory A. Sommers | 9781618536259 |
The course readings are subject to change in the event of extenuating circumstances, research developments, current events, and/or to ensure better learning.
Assignments/Assessments
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Tentative Course Schedule (Subject to Change)
| Week of | Reading(s) | Proposed Topic | Due/To Prepare for Class |
|---|---|---|---|
| 8/24 | Syllabus Module 1 Framework for Financial Statement Analysis and Valuation |
• Discussion of the syllabus • Project team & Study group • Pre-class quiz • Introduce a four-step framework for analysis and valuation • Exploring financial statements • Financial reporting standards |
8/24 8/26 |
| 8/31 | Module 2 Review of Business Activities and Financial Statements | • Understanding the balance sheet • Understanding income statements • Understanding cash flow statements |
8/31 9/2 |
| 9/7 | Module 3 Profitability Analysis and Interpretation | Explain several measures of performance • ROA | 9/9 |
| 9/14 | Module 3 Profitability Analysis and Interpretation Module 4 Credit Risk Analysis and Interpretation |
• ROE • Identify factors that drive these performance measures • Financial analysis technique • Explain the credit risk analysis process |
9/14 9/16 |
| 9/21 | Module 4 Credit Risk Analysis and Interpretation | • Compute and interpret the credit risk process • Explain credit ratings and describe the credit rating process |
9/21 9/23 |
| 9/28 | Module 5 Revenue Recognition and Operating Income | • Analyzing revenue • Analyzing accounts receivable • Analyzing operating expenses |
9/28 9/30 |
| 10/5 | Module 5 Revenue Recognition and Operating Income | • Review pro forma income reporting Mid-Term Exam 1 (Modules 1, 2, 3, 4) |
10/5 10/7 |
| 10/12 | Module 6 Asset Recognition and Operating Assets | • Examine three balance sheet elements and consider various analysis methods and tools for each • Analyzing Inventories reporting |
10/12 10/14 |
| 10/19 | Module 6 Asset Recognition and Operating Assets | • Analyzing Inventory tools • Accounts payable |
10/19 10/21 |
| 10/26 | Module 6 Asset Recognition and Operating Assets | • Long-term assets (PPE assets and intangible assets) • Discuss asset impairments and restructuring activities |
10/26 10/28 |
| 11/2 | Module 7 Liability Recognition and Nonowner Financing | • Analyzing accruals • Time value of money • Analyzing short- and long-term debt |
11/2 11/4 |
| 11/9 | Mid-Term Exam (Modules 5, 6, 7) | 11/9 | |
| 11/16 | Module 8 Equity Recognition and Owner Financing | • Analyzing contributed capital • Analyzing retained earnings • Analyzing EPS |
11/16 11/18 |
| 11/23 | Module 11 Financial Statement Forecasting | • Forecasting process • Forecasting the financial statements | 11/23 |
| 11/30 | Project Presentation Project Presentation |
11/30 12/2 |
|
| 12/7 | Final exam (Comprehensive exam; 8:00-10:00 AM) | 12/11 |
The course schedule, policies, procedures, and assignments in this course are subject to change in the event of extenuating circumstances, by mutual agreement, and/or to ensure better learning.