Financial and ESG Reporting (1 º Sem 2020/2021)

Hello everyone,

I hope you are all doing great.

Regarding the final work, I appreciate your engagement and effort. I also would like to remember you that today is your deadline (until midnight). All of you must receive a feedback mail from me, confirming that I have received your mail with the final work and attachments. If you don't receive this mail until tomorrow, please notify me.

Considering that today and on the 7th december ISEG will be closed and our final work is finished, I decided to postpone our last 2 tutoring classes to january (closer to your final exam). I will check you exam calendar and I will let you know the dates/time. I believe these classes will be more useful by then.

Some of you have asked me for an extra reference with more financial analysis exercises, so I will leave you with a reference for an online book: https://www.pdfdrive.com/financial-statement-analysis-workbook-step-by-step-exercises-and-tests-to-help-you-master-financial-statement-analysis-e184574895.html

I wish everyone a Merry Christmas!

Best regards,

Rita Fuentes Henriques

Good afternoon, again

Regarding the final work, I clarify that all attachments, tables, excel files or other appendix can be presented and they are not included in the 5-pages limit.

I have uploaded in the folder "Final work" an excel file that you should use in order to compute for value creation. This file is delivered by Damodaran and allows the estimation of the cost of equity (Ke) based on CAPM model. As the estimation of Ke is not part of our syllabus, I have adjusted the file with data for Portugal's risk-free rate and market premmium in 2020 and you only have to choose the industry of your companies and use the cost of equity delivered by excel. The Beta (a metric for the company risk) should be also adjusted for your specific companies, but don't change the Beta (it's an average for that industry) and work with a simplified cost of equity (it's more than enough, considering the purposes of your final work). 

Good work!

Rita Fuentes Henriques  

Good afternoon everyone,
I have just uploaded the grades from Quiz 2 in Aquila. The grades are, in average, 2 points lower than the grades from Quiz 1. I reinforce that I am available to clarify any doubts in chat (Teams), email ou during the tutoring classes on Mondays.

It took me a lot longer than I expected to evaluate these quizzes, since there were some plagiarism situations. In cases where plagiarism was detected I still evaluate the quizzes, but those questions where plagiarism was evident were evaluated with zero points for all students involved. I truly hope that these kind of situations won’t happen again in the final exams (hopefully these ones will be performed in the classroom and not online), since plagiarism (between colleagues or from internet sources) is a serious matter and sanctions are provided by the Knowledge Assessment Regulation of ISEG. Please consult the General Assessment Regulations for Master Degrees in Appendix 1. I copy below the article 7 regarding “Frauds in assessment”:

1. Any proven fraud in assessment on course units whether it consists of copying on written tests or plagiarism in project and other work must be communicated to the SPC by the teacher responsible for the respective course unit. (…) 3. Proven fraud implies the annulment of enrolment in the Masters degree with no refund of fees paid and a prohibition on future enrolment at ISEG. 4. Students can appeal this decision, with suspension of consequences mentioned in No. 3. 5. Any appeal decision rests with a committee of independent teachers especially appointed by the president of ISEG.

Best regards,

Rita Fuentes Henriques