Duration
30h Th
Number of credits
| Specialised master in financial risk management | 4 crédits |
Lecturer
Language(s) of instruction
French language
Organisation and examination
Teaching in the second semester
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
Part I : Introduction and Revision
*/ Introduction: connections between financial analysis and accountancy and the latter's contribution to financial diagnosis
*/ Accountancy's general concepts: legal and normative framework, basic notions of accounting reporting
*/ "Balance sheet dressing" : Development and case studies
*/ Reading file: fraud and annual accounts analysis
Part II : Financial Statements Restructuring
*/ Balance sheet restructuring and the management's statement: net working capital, working capital requirement and net treasury, components and working capital requirement management, financial balance ...
*/ Profit and loss accounts restructuring: interim management balances, gross operating surplus, added value, EBIT / EBITDA, ...
*/ Cash flow statement
*/ Practical cases
Part III : Management Statements Analysis
Section I : Statutorary Financial Statements
*/ Liquidity analysis, solvency, profitability, financial risks, levers and entreprises facing financial difficulties, global financial diagnosis, (sustainable) growth analysis
*/ Pratical cases
*/ Reading file: Cash flow IFRS applied to Belgium
Section II : Consolidated accounts
*/ Reminders on consolidation, the definition of group and consolidated accounts, IFRS, US GAAP, financial statements and financial analysis
*/ Sectoral analysis, consolidation circle, performance and operational analysis, profitability, financial structure, cash flow and profitability
*/ Practical case
Part IV : Investment decision-making and funding method
*/ Evaluation and selection criteria of an investment project: recovery time (updated), accounting rate of return, net present value, internal rate of profitability, profitability index, advantages and relevance
*/ Uncertain environment: mathematical expectation and variance, decision-making criteria, relevance
*/ Funding policy: theoretical and strategic contributions
Part V : Failure criteria and et financial reporting
*/ Bankruptcy and failure, causality
*/ Univariate analysis
*/ Multivariate analysis and « scoring » development
*/ Reading file: BNB scoring
Learning outcomes of the learning unit
Prerequisite knowledge and skills
Planned learning activities and teaching methods
Mode of delivery (face-to-face ; distance-learning)
Face-to-face