Part Two: Financial analysis and forecasting
by Antonio Salvi, Yann Le Fur, Maurizio Dallocchio, Pascal Quiry, Pierre Vernimmen
Corporate Finance, 5th Edition
- About the Authors
- Preface
- Frequently used symbols
- Chapter 1: What is corporate finance?
- Section 1.1 The financial manager is first and foremost a salesman . . .
- Section 1.2 . . . of financial securities . . .
- Section 1.3 . . . valued continuously by the financial markets
- Section 1.4 Most importantly, he is a negotiator . . .
- Section 1.5 . . . who never forgets to do an occasional reality check!
- Section 1.6 . . . he is also now a risk manager
- Section I: Financial analysis
- Part One: Fundamental concepts in financial analysis
- Chapter 2: Cash flow
- Chapter 3: Earnings
- Chapter 4: Capital employed and invested capital
- Chapter 5: Walking through from earnings to cash flow
- Chapter 6: Getting to grips with consolidated accounts
- Chapter 7: How to cope with the most complex points in financial accounts
- Section 7.1 Accruals
- Section 7.2 Cash assets
- Section 7.3 Construction contracts
- Section 7.4 Convertible bonds and loans
- Section 7.5 Currency translation adjustments
- Section 7.6 Deferred tax assets and liabilities
- Section 7.7 Dilution profit and losses
- Section 7.8 Financial hedging instruments
- Section 7.9 Impairment losses
- Section 7.10 Intangible fixed assets
- Section 7.11 Inventories
- Section 7.12 Leases
- Section 7.13 Off-balance-sheet commitments
- Section 7.14 Pensions and other employee benefits
- Section 7.15 Preference shares
- Section 7.16 Provisions
- Section 7.17 Stock options
- Section 7.18 Tangible assets
- Section 7.19 Treasury shares
- Part Two: Financial analysis and forecasting
- Chapter 8: How to perform a financial analysis
- Section 8.1 What is financial analysis?
- Section 8.2 Economic analysis of companies
- Section 8.3 An assessment of a company’s accounting policy
- Section 8.4 Standard financial analysis plan
- Section 8.5 The various techniques of financial analysis
- Section 8.6 Ratings
- Section 8.7 Scoring techniques
- Section 8.8 Expert systems
- Chapter 9: Margin analysis: structure
- Chapter 10: Margin analysis: risks
- Chapter 11: Working capital and capital expenditures
- Chapter 12: Financing
- Chapter 13: Return on capital employed and return on equity
- Chapter 14: Conclusion of financial analysis
- Chapter 8: How to perform a financial analysis
- Part One: Fundamental concepts in financial analysis
- Section II: Investors and markets
- Part One: Investment decision rules
- Chapter 15: The financial markets
- Section 15.1 The rise of capital markets
- Section 15.2 The functions of a financial system
- Section 15.3 The relationship between banks and companies
- Section 15.4 Theoretical framework: efficient markets
- Section 15.5 Another theoretical framework under construction: behavioural finance
- Section 15.6 Investors’ behaviour
- Chapter 16: The time value of money and net present value
- Chapter 17: The internal rate of return
- Chapter 15: The financial markets
- Part Two: The risk of securities and the required rate of return
- Chapter 18: Risk and return
- Section 18.1 Sources of risk
- Section 18.2 Risk and fluctuation in the value of a security
- Section 18.3 Tools for measuring return and risk
- Section 18.4 Market and specific risk
- Section 18.5 The beta coefficient
- Section 18.6 Portfolio risk
- Section 18.7 Choosing among several risky assets and the efficient frontier
- Section 18.8 Choosing between several risky assets and a risk-free asset: the capital market line
- Section 18.9 How portfolio management works
- Chapter 19: The required rate of return
- Chapter 18: Risk and return
- Part Three: Financial securities
- Part One: Investment decision rules
- Section III: Value
- Chapter 26: Value and corporate finance
- Chapter 27: Measuring value creation
- Chapter 28: Investment criteria
- Chapter 29: The cost of capital
- Chapter 30: Risk and investment analysis
- Chapter 31: Valuation techniques
- Section 31.1 Overview of the different methods
- Section 31.2 Valuation by discounted cash flow
- Section 31.3 Multiple approach or peer-group comparisons
- Section 31.4 The sum-of-the-parts method (SOTP) or net asset value (NAV)
- Section 31.5 Comparison of valuation methods
- Section 31.6 Premiums and discounts
- Section IV: Corporate financial policies
- Part One: Capital structure policies
- Chapter 32: Capital structure and the theory of perfect capital markets
- Chapter 33: Capital structure, taxes and organisation theories
- Chapter 34: Debt, equity and options theory
- Section 34.1 Analysing the firm in light of options theory
- Section 34.2 Contribution of options theory to the valuation of equity
- Section 34.3 Using options theory to analyse a company’s financial decisions
- Section 34.4 Resolving conflicts between shareholders and creditors
- Section 34.5 Analysing the firm’s liquidity
- Section 34.6 Conclusion
- Chapter 35: Working out details: the design of the capital structure
- Part Two: Equity capital
- Part Three: Debt capital
- Part One: Capital structure policies
- Section V: Financial management
- Part One: Corporate governance and financial engineering
- Chapter 40: Setting up a company or financing start-ups
- Section 40.1 Financial particularities of the company being set up
- Section 40.2 Some basic principles for financing a start-up
- Section 40.3 Investors in start-ups
- Section 40.4 The organisation of relationships between the entrepreneur and the financial investors
- Section 40.5 The financial management of a start-up
- Section 40.6 The particularities of valuing young companies
- Section 40.7 Example inspired by a real case: Example.com
- Chapter 41: Choice of corporate structure
- Chapter 42: Initial public offerings (IPOs)
- Chapter 43: Corporate governance
- Chapter 44: Taking control of a company
- Chapter 45: Mergers and demergers
- Chapter 46: Leveraged buyouts (LBOs)
- Chapter 47: Bankruptcy and restructuring
- Chapter 40: Setting up a company or financing start-ups
- Part Two: Managing working capital, cash flows, financial risks and real estate
- Part One: Corporate governance and financial engineering
- Epilogue – Finance and Strategy
- Top 20 Largest Listed Companies
- Contents
- Index
- EULA
Part Two
Financial analysis and forecasting
In this section, we will gradually introduce more aspects of financial analysis, including how to analyse wealth creation, investments either in working capital or capital expenditure and profitability. But first we need to look at how to carry out an economic and strategic analysis of a company.
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