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GEST-S2701

Accounting and Financial Statement Analysis

academic year
2025-2026
2026-2027

Course teacher(s)

Benjamin LORENT (Coordinator)

ECTS credits

5

Language(s) of instruction

english

Course content

Part I (“Accounting”):

  1. Fundamentals, closing operations, and impacts on cash flows
  2. Detailed analysis of asset accounts
  3. Detailed analysis of liability accounts
  4. Detailed analysis of the income statement and appropriations of result

Part II (“Financial Statement Analysis”):

  1. Balance sheets and income statements across different industries/sectors
  2. Managerial view of the balance sheet (Net Working Capital, Working Capital Requirement, Net Liquid Balance) and critical ratio analysis
  3. Cash flow statement and interpretations
  4. Financial analysis of a growing SME
  5. Introduction to financial planning and sustainable growth
  6. Financial plan for a debt-financed acquisition

Objectives (and/or specific learning outcomes)

At the end of Part I (“Accounting”), students will be able to:

· Understand and apply the fundamental concepts of accounting

· Manage accounting matters effectively in collaboration with an accountant and engage in a well-argued discussion with a CFO

· Interpret financial statements in a managerial and critical way

· Understand the fundamental differences between accounting and finance

At the end of Part II (“Financial Statement Analysis”), students will be able to:

· Master the essential accounting and financial mechanisms

· Conduct a financial analysis that integrates financial planning concepts

· Gain a better understanding of managerial requirements in relation to financial statements

· Communicate with an organization’s financial executives and raise the right questions

Prerequisites and Corequisites

Required and Corequired knowledge and skills

Introduction to Accounting 

Teaching methods and learning activities

- Theoretical lectures

- Practical exercises

- Case studies (to be prepared in advance)

Course notes

  • Université virtuelle

Contribution to the teaching profile

  • LO 1.1 Apply fundamental concepts, tools and models in economics and management to formulate a well-defined problem and propose a multidisciplinary solution relevant to the economic context
  • LO 2.1 Adopt a scientific approach to data collection, research and analysis and communicate results with clear, structured and sophisticated arguments
  • LO 2.2 Display critical thinking, logical and abstract reasoning and develop an independent approach to learning
  • LO 3.1 Solve standard mathematical and statistical problems by analysing data with standard office and statistical software
  • LO 4.1 Work and communicate effectively as part of a team in an international and multicultural environment
  • LO 4.2 Recognize ethical dilemmas and contribute to solving them

Other information

Contacts

benjamin.lorent@ulb.be

Campus

Solbosch

Evaluation

Method(s) of evaluation

  • written examination
  • Group work

written examination

Group work

Final grade = Written exam (Q2, 70%) + Group Assignement (Q2, 30%). The final exam is a closed-book exam

Deferrals from one exam session to another are granted only in accordance with the faculty regulations for the final course grade (with no exceptions). A partial deferral is automatic, from one session to the next only, for each component with a grade equal to or higher than 10/20. Consequently, in the case of a resit, any component(s) with a grade lower than 10/20 must be retaken.

The above indications regarding the calculation of the final grade remain applicable in the resit session.

Language(s) of evaluation

  • english

Programmes