ACCN 413 helps students understand and analyze financial statements, prepare pro-forma statements and critically review business valuation. Financial statement analysis is used by decision-makers in a variety of settings. Managers use financial data to monitor and judge their firms performance relative to their competitors, communicate with external investors, select operational and financial strategies, and evaluate potential investment opportunities. Securities analysts use financial data to evaluate firms and make buy/sell recommendations to their clients. Bankers and creditors use financial information to decide whether to extend a loan to a client and to determine the terms of the loan. Financial data is also used by business consultants to carry out, among other things, competitive analyses of their clients businesses. ACCN 413 emphasizes how the economics of a business situation translates into accounting data and how managerial incentives and opportunities affect accounting choices, given the competitive and regulatory environment. This course takes a users rather than a preparers perspective and does not emphasize specific accounting standards or accounting regulation. Such details are covered in other courses such as ACCN 201 and ACCN 310.pre-rec: FINE 301, junior standing or above.