15.535 Business Analysis Using Financial Statements
Spring 2010
Instructor: Tee Yong Ng
TAs: blairj@mit.edu, Lynn Lei Li
Section A:
MW 1:00-2:30
(E51-335)
Section B: MW 2:30-4:00
(E51-335)
Information:
Announcements
BYOAP Assignment 2: Valuations
Hi Everyone,When you're finished with the assignment, please upload it under the homework section, "BYOAP Assignment 2: Valuations" tab.
Thanks,
Lynn
Announced on 08 May 2010 11:15 p.m. by Lynn Lei Li
BYOAP
Hi Everyone,Just a quick remind that your BYOAP spreadsheet is due on Sunday. You don't need to work on the "abnormal oi growth" tab unless you want to.
Just a quick note on the BYOAP. If you followed my method 2 of reformulating stockholders' equity sheet, you don't need to readjust in the balance sheet (like I had stated). Nike only did this adjustment for one year. And if you do the adjustment, then you'll have a negative NOA for 3 years, which may make your ratio analysis more difficult to interpret.
Note that you should adjust your assumptions under the "valuation-essentials" tab. The risk-free rate is no longer 4.5%. I think you can find these types of information in CNBC or Google finance.
Also, presentations are 10 minutes. Please prepare some powerpoint slides on your research.
Let me know if you have any questions.
Thanks,
Lynn
Announced on 08 May 2010 12:12 p.m. by Lynn Lei Li
BYOAP
Hi Everyone,For the "full forecasting and valuation" tab, please make forecasts for 2010-2014. In the Nike example, they used actual values for 2004 and made forecasts for 2005-2008. Since you have actual numbers for Nike, this illustrates the difference between estimated values and actual values. But analysts make forecasts using current data for future periods, so please forecast until 2014.
Announced on 30 April 2010 9:15 p.m. by Lynn Lei Li
BYOAP & Microsoft Presentation Guidance
Hi Everyone,I've uploaded a document under the "BYOAP" section that gives you some areas to think about for your presentation.
Please complete the rest of your spreadsheet up to and including "full forecasting and valuation." This spreadsheet is due on Sunday, May 9th.
Lynn
Announced on 29 April 2010 9:51 a.m. by Lynn Lei Li
Final exam
Hi class,
The format of the final exam on May 5 (Wed) is as follows: i) Reformulation of income statement and balance sheet, ii) Computation of ratios, and iii) Valuation. Please use the review for the final exam (covered in the last class) as a sample of how the final exam will look at. This exam is an open-book exam, meaning that you are bring along any reference materials. Please remember to bring along a calculator.
For the first session, the exam will be from 1.15 pm to 2.15 pm. For the second session, the exam will be from 2.45 pm to 3.45 pm.
I will be around campus during office hours (9 am to 5 pm) on Thursday, Friday, and Saturday, as well as next Monday and Tuesday. I can meet you in my office (E52-325f) to discuss any issues related to the final exam (or other issues related to the course and investment/trading). Please drop me an email to arrange for an appointment time. My office is at E52-325f. Alternatively, you can ask me questions via email and I will respond to the email as promptly as possible.
Thanks, Jeff
Announced on 29 April 2010 2:47 a.m. by Tee Yong Ng
