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Business Analysis and Valuation: Using Financial Statements,
3rd Edition

Krishna G. Palepu, Paul M. Healy, Sue Wright, Michael Bradbury, Jeff Coulton

ISBN-13: 9780170425186 | ISBN-10: 0170425185

Copyright 2021

| Published 2020

| 384 pages

List Price USD $129.75

Overview

Business Analysis and Valuation gives you a practical, in-depth approach to the subject of accounting valuation. It includes a significant number of case studies exploring various issues in this field, as well as a new case feature at the end of each chapter. New 'Industry insights' boxes show you how the content translates to the workplace.

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Meet the Authors

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Krishna G. Palepu is the Ross Graham Walker Professor of Business Administration and Senior Associate Dean for International Development at the Harvard Business School, Harvard University. Prior to assuming his current administrative position, Professor Palepu held other positions at the school, including Senior Associate Dean, Director of Research, and Chair, Accounting and Control Unit. Professor Palepu's current research and teaching activities focus on strategy and governance. In the area of strategy, his recent focus has been on the globalization of emerging markets. In the area of corporate governance, Professor Palepu's work focuses on how to make corporate boards more effective, and on improving corporate disclosure. Professor Palepu teaches these topics in several HBS programs aimed at members of corporate boards: "How to make corporate boards more effective, "Audit Committees in the new era of governance, "Compensation Committees: Preparing the challenges ahead." Professor Palepu has done extensive research on mergers and acquisitions and corporate disclosure. Based on this work, he coauthored the book, Business Analysis and Valuation: Text and Cases, which won the American Accounting Association's Wildman Award for its impact on management practice, as well as the Notable Contribution to the Accounting Literature Award for its impact on academic research. This book, translated into Chinese, Japanese, and Spanish, is widely used in leading MBA programs all over the world. It is accompanied by a business analysis and valuation software model published by the Harvard Business School Publishing Company. Professor Palepu has a doctorate from the Massachusetts Institute of Technology, and an Honorary Doctorate from the Helsinki School of Economics and Business Administration.

Paul M. Healy is James R. Williston Professor of Business Administration, and Unit Head, Accounting and Management, at Harvard Business School, Harvard University. Professor Healy joined Harvard Business School as a Professor of Business Administration in 1997. Professor Healy received his B.C.A. Honors (1st Class) in Accounting and Finance from Victoria University, New Zealand in 1977, his M.S. in Economics from the University of Rochester in 1981, his Ph.D. in Business from the University of Rochester in 1983, and is a New Zealand CPA. In New Zealand, Professor Healy worked for Arthur Young and ICI. Prior to joining Harvard, Professor Healy spent fourteen years on the faculty at the M.I.T. Sloan School of Management, where he received awards for teaching excellence in 1991, 1992, and 1997. He is the co-author of one of the leading financial analysis textbooks, Business Analysis & Valuation. In 1993-94 he served as Deputy Dean at the Sloan School, and in 1994-95 he visited London Business School and Harvard Business School. Professor Healy's research includes studies of the role and performance of financial analysts, how firms' disclosure strategies affect their costs of capital, the performance of merging firms after mergers, and managers' financial reporting decisions. His work has been published in The Accounting Review, Journal of Accounting and Economics, Journal of Accounting Research, and Journal of Financial Economics. In 1990, his article "The Effect of Bonus Schemes on Accounting Decisions," published in Journal of Accounting and Economics, was awarded the AICPA/AAA Notable Contribution Award. His text Business Analysis & Valuation was awarded the AICPA/AAA's Wildman Medal for contributions to the practice in 1997 and the AICPA/AAA Notable Contribution Award in 1998.

Sue Wright is a Professor of Accounting and Head of Department at UTS Business School. Her research interests include corporate governance, financial reporting and valuation, and business education. Sue has taught financial statement analysis for over 20 years, and supervises many PhD and Masters students. She was awarded Fellow membership of the Accounting and Finance Association of Australia and New Zealand in 2014.

Michael Bradbury is Professor of Accounting at Massey University, Albany, and FCA of the New Zealand Institute of Chartered Accountants. His research has examined issues in financial reporting and financial analysis. Michael became a life member of the Accounting and Finance Association of Australia and New Zealand in 2002 and received the Outstanding Contribution to Practice Award in 2001.

Jeff Coulton is a Senior Lecturer in the UNSW Business School. Jeff’s research interests include earnings and audit quality, voluntary disclosure, executive remuneration and corporate governance. He has recently been involved in research with NASA on the technical and economic feasibility of off-earth mining. Jeff has been teaching financial statement analysis classes to undergraduate, postgraduate coursework and MBA students for over 10 years.

  • NEW locally authored case studies added throughout Parts 1-3 of the chapter contents. New standalone cases help refresh your course and provide updated examples for students. Harvard cases from previous editions have been replaced by locally authored cases in Part 4 for more relevancy
  • A NEW Asia–Pacific example has been integrated across the chapters. Kathmandu Limited, an outdoor equipment and clothing retailer, is used to illustrate the concepts and practice of financial analysis. The retail industry in the region remains competitive and subject to ongoing competitive challenges, yet is well known to students
  • Three NEW resources for instructors using this edition. First, two online-only cases covering Dilligent and Rubicon are included in the instructor resources for download. A new business valuation template in Excel helps with the practical application of theory for all the case studies within the book. Last, a new Test Bank is also available in Word, written especially for and by ANZ instructors
  • NEW 'Industry Insights' feature showcases insider insights into the industry
  • Shorter case studies running throughout Parts 1-3 are ideal for tutorial-based discussion and learning, where longer cases in Part 4 of the contents are ideal for extended study. Ongoing cases through Parts 1-3 featuring Kathmandu (chapter 2 - 8, and 10), Bunnings (chapter 11), and GetSwift (chapter 12), help with continuity through the semester
  • The only local text book on the market, featuring ANZ companies and data that are easily and immediately relatable to students
  • A practical, staged approach – takes students through the steps of analysis to help their understanding
  • Shorter case studies running throughout Parts 1-3 are ideal for tutorial-based discussion and learning, where longer cases in Part 4 of the contents are ideal for extended study. Ongoing cases through Parts 1-3 featuring Kathmandu (chapter 2 - 8, and 10), Bunnings (chapter 11), and GetSwift (chapter 12), help with continuity through the semester

Table of Contents

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PART 1 Framework
1 A framework for business analysis and valuation using financial statements

PART 2 Business analysis and valuation tools
2 Strategy analysis
3 Overview of accounting analysis
4 Implementing accounting analysis
5 Financial analysis
6 Prospective analysis: Forecasting
7 Prospective analysis: Valuation theory and concepts
8 Prospective analysis: Valuation implementation

PART 3 Business analysis and valuation applications
9 Equity security analysis
10 Credit analysis and digress prediction
11 Mergers and acquisitions
12 Communication and governance

PART 4 Additional cases
Case 1 Qantas
Case 2 Airlines: Depreciation differences
Case 3 Recasting financial statements
Case 4 Cochlear: Provisions and patent disputes
Case 5 Accounting analysis: Case flow reconciliation
Case 6 Valuation ratios in the retail industry 2010 to 2013
Case 7 Dick Smith
Case 8 Resinex
Case 9 Foster’s-Southcorp merger

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Instructor Website for Palepu's Business Analysis and Valuation: Using Financial Statements

ISBN13:9780170450799
ISBN10:0170450791
Your #1 resource for your course. This tailored collection of teaching tools includes downloadable PowerPoint lecture slides, Solutions Manual, Test Bank in Word, artwork from the text, and additional online cases (2) covering Dilligent and Rubicon. Log in or request an account to access instructor resources at cengage.com.au/instructors for Australia or cengage.co.nz/instructors for New Zealand.

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Business Analysis and Valuation: Using Financial Statements

  • ISBN-10: 0170425185
  • ISBN-13: 9780170425186

Price USD$ 129.75

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