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SBD Strategic Finance Y4Q1 Summary
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Strategic Finance Y4Q1 Summary based on lectures and chapters from the book for the SBD case exam
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Strategic Finance Y4Table of Contents
Training Week 1 (Chapter 2)...............................................................................................2
Training Week 2 (Chapter 1-3)............................................................................................4
Week 2 Lecture..................................................................................................................4
Training Week 3 (Chapter 1, 4 and 5).................................................................................6
Training Week 4 (Chapter 6-7)............................................................................................8
Training Week 6 (Valuation and Recap)...........................................................................14
Lecture Week 7 (Value Based Financial Management).....................................................15
, Training Week 1 (Chapter 2)
Exam questions:
Evaluate the financial situation of the company?
What is the current situation of the company?
What is the economic situation of the company?
What is the value of the company?
Analyze the financial impact
Recommend a new strategy
1-8 Chapters in the book
Income Statement: based on accounting rules
Due to the rules you can adjust your income statement
Conclusion about Facebook income statement:
Net income is positive
Revenue increased a lot
Expenditures increased more – might be a problem
Net income isn’t stable
Cash Flow: real money that comes in and real money that comes out but not based on
accounting rules
Depreciation: value of assets drops, expenditure but it’s not a cash outflow, noncash
expense
Free cash flow: money that goes to investors
Balance Sheet:
Conclusion about Facebook balance sheet
Employees are not on the balance sheet
Personal data is not on asset list
Current liabilities increased a lot
Cash increased a lot (good because you have cash but you could use the cash to invest)
Accounts payable increased a lot (New value: 13.098)
(accounts payable= promise of payment, you have the money, still need to pay it)
Accounts receivable= you don’t have the money yet, you still need to get it
Fixed assets you have
Debt: money the company has borrowed
The lower the debt, the lower the interest (interest coverage or times interest earned) and
the higher the coverage, less risk
ROE measures the return generated on the stockholders’ investment in the company
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