This book provides both a sound theoretical framework for financial statement analysis and corporate valuation and a thorough discussion of how valuations are actually done in the real world. It is targeted for people who are in, or intend to enter, investment banking, consulting, accounting, corporate finance, commercial banking, equity analysis or equity research. While of interest to the practitioner, this book is primarily designed for use in an elective MBA course or in a capstone undergraduate course.

    A draft of this book has been used successfully in the MBA programs at Northwestern University’s Kellogg Graduate School of Management, the University of Illinois at Chicago and Dominican University. It has also been used for Masters in Accounting students and undergraduate students at the University of Illinois and in executive education at Kellogg. The book works well either in the accounting or the finance curriculum.

Part I Introduction
Part II Business and Financial Statement Analysis
Part III Cash Flow Based Valuation
Part IV Special Topics in Cash Flow Based
Part V Multiples Valuation