| Course | BUSI 532 Advanced Financial Statement Analysis (BUSI532) |
|---|---|
| Credit hours | 3 |
| Program | MBA |
| Length | 8 Module/Weeks, online |
| Weeks with written work | 4 of 8 |
| Samples on this site | 4 week sample papers |
| Sources | Liberty's 2026-2027 catalog and the published BUSI 532 course guide |
| Updated | October 2026 |
What BUSI 532 covers
Penman's chapters move from investing and valuation and the financial statements through cash and accrual accounting and valuation from book values and earnings to the analysis of the equity statement, balance sheet, income statement and cash flow statement, then profitability, growth, simple and full-information forecasting and equity risk.
Each week brings a spreadsheet homework assignment on the company each student chooses in Module/Week 1, so the analysis builds one statement and one ratio at a time across seven assignments; the forums in Module/Weeks 1, 2 and 5 compare ideas with classmates, and the group report applies the whole method to a new company.
This course examines advanced techniques for evaluating the financial stability of a company through its financial statements, and how the financial statements may be used for strategic planning and decision making.
BUSI 532 week by week, with the sample for each
| Week | Written work in the course guide | Points | Sample |
|---|---|---|---|
| Week 1 | Discussion Board Forum 1 (Course Requirements Checklist, Class Introductions and Homework 1 also due) | 30 | Read the Week 1 sample |
| Week 2 | Discussion Board Forum 2 (Homework 2 also due) | 50 | Read the Week 2 sample |
| Week 3 | Homework 3, a spreadsheet on the student's chosen company | No written paper this week | |
| Week 4 | Homework 4, a spreadsheet on the student's chosen company | No written paper this week | |
| Week 5 | Discussion Board Forum 3 (Homework 5 also due) | 50 | Read the Week 5 sample |
| Week 6 | Homework 6, a spreadsheet on the student's chosen company | No written paper this week | |
| Week 7 | Homework 7, a spreadsheet on the student's chosen company | No written paper this week | |
| Week 8 | Group Project | 200 | Read the Week 8 sample |
Where BUSI 532 papers lose points
BUSI 532 work loses points when reformulated statements do not reconcile to the filing, when one-time items are carried into a forecast, when return on equity is reported without its drivers, when a valuation rests on a single point estimate with hidden assumptions, and when a forum post restates a chapter rather than comparing ideas.
Using a BUSI 532 sample well
The samples draw on research about efficient markets and behavioral finance, the usefulness of earnings for intangible-intensive firms, value investing signals, valuation errors across dividend, cash flow and earnings methods, accruals, the book-to-market effect, the residual income model, mean reversion in profitability, asset turnover, accrual reliability, growth persistence, conservatism and industry costs of equity, with Penman and a company's Form 10-K.
BUSI 532 questions, answered
What is the BUSI 532 Group Project?
A comprehensive report on a company none of the group members used in their homework, due in Module/Week 8 for 200 points, applying every stage of the course's analysis and valuation method.
How do the BUSI 532 homework assignments work?
Seven spreadsheet assignments, one per week from Module/Week 1 to 7, apply each week's chapters to a company the student chooses at the start, worth 70 points in the first week and 100 in each later week.
What textbook does BUSI 532 use?
Stephen Penman's Financial Statement Analysis and Security Valuation, which builds valuation on accrual accounting, reformulated statements and residual earnings.
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