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- Cyan’s I-New acquisition: The Badwill Financial Analysis Problem
- When Remuneration Targets meet Impairment Assumptions – The Weak-but-Strong Financial Analysis Problem
- Grifols’ Parking Game – The “Related-Party/Control” Financial Analysis Problem
- PG&E’s Wildfire Insolvency – The On/Twilight/Off Financial Analysis Problem
- Shadowfall’s Attack on Eurofins – The “Related Party”-Financial Analysis Problem (Background)
- DS Smith’s Exceptional Charges – The “in-P&L-Presentation”-Financial Analysis Problem
- Unilever’s Argentina-Accounting Treatment – The Hyperinflation Financial Analysis Problem
- Schaltbau’s Securitization Program – The Financing/Operating/Investing Financial Analysis Problem
- ProSiebenSat1 and the Programming Write-Down: the Kitchen Sinking Financial Analysis Problem
- Deep Dive into the General Electric-Markopolos Case – Here: The Baker Hughes Accounting
- Are News on CEO-blames-it-to-Employees a good trigger for building up a Short Position?
- How IFF will build-up a huge Accounting ORIGINAL Goodwill – The Umbrella-Category Financial Analysis Problem
- Judging Steinhoff by Benford’s Law (and its big limits!!) – The Digits-Frequency Financial Analysis Problem
- How to sell the same product several times? – The Customer-as-a-Partner Financial Analysis Problem (1)
- Can Tongaat turn Sugar into Gold? The IAS 41 Biological Assets Financial Analysis Problem
- Kleine Vortragstournee zu Digital / Technology Start-Up Valuation
- Rechtliche Unternehmensbewertung: Königsdisziplin! … Oder doch nur bunte Show?
- Das EACVA-Seminar „Start-Up-Valuation“: Antworten auf „Push-Backs“
- Barclays‘ Own Credit Gains: Das Fake-Eisberg-Bilanzanalyse-Problem
- Die Atomrückstellungen von E.On und RWE: Das Ausfallrisiko-Bilanzanalyse-Problem
- PG&E’s Waldbrand-Insolvenz: Das On/Twilight/Off-Bilanzanalyse-Problem
- ProSiebenSat1 und der Programming Write-Down: Das Kitchen Sinking-Bilanzanalyse-Problem
- GE’s 23 Mrd. USD Goodwill Impairment: Das Non-/Soft-/Hard-Cash Bilanzanalyse-Problem
- 1 Jahr Carillion-Pleite: Das Recurring-/Non-Recurring Bilanzanalyse-Problem
- Akademische Welt trifft praktische Unternehmensbewertung
- Vier interessante Erkenntnisse zur Unternehmensbewertung (gesammelt am Rande der EACVA-Konferenz vom 22./23. November 2018)
- Wenn Werte leben und sich entwickeln: Warum ein sinnvoller Prozess zur Unternehmensnachfolge so wichtig ist (Teil 2)
- Wenn Werte leben und sich entwickeln: Warum ein sinnvoller Prozess zur Unternehmensnachfolge so wichtig ist (Teil 1)
- Wer im Beteiligungsmanagement, als Aktieninvestor oder anderweitig mit der Unternehmensbewertung von börsengelisteten Unternehmen zu tun hat, der hat sich sicher schon einmal gewundert
- „Nach dem Spiel ist vor dem Spiel“, sagt der Fußball-Volksmund. „Nach der Krise ist vor der Krise“ haben Investoren daraus schon vor einiger Zeit gemacht
- Das von den Vereinten Nationen unterstützte „Principles for Responsible Investment“-Network (UN-PRI) hat bei der CFA Society Germany in Frankfurt Halt gemacht
- Die jüngste Performance von aktiv verwalteten Aktienfonds ist wirklich schlecht
English Contributions
- When Standard Setters are too slow: The Case for Tesla’s 1.5 bn USD Bitcoin Accounting
- SNP’s Profit Warning and its Order Book: Oh Revenue, where Art Thou?
- Understanding ESOPs (2): How Ocado magically palmed 63.6 mio GBP of Expenses
- European Banks and the Q3/20 IFRS 9 Overlay – Fundamental vs. Technical Input to Accounting
- SBM Offshore’s “Directional Accounting”: Read-Across to IASB’s Disclosure Project (and to IFRS 10/11)
- Is Proximus Tackling IFRS too Hard? – The Belgian Football Broadcasting Rights Accounting Dispute
- Understanding Stock Options – Basic Techniques
- Equinox’ Share Purchase Warrants: What a Difference an Issuing Motivation (and a Currency) makes!
- Babcock’s strange JV Reporting: Catch-Up Effects, omitted Revenues and overshooting Margins
- Coronavirus: Ryanair’s Unconventional “No Shows” Accounting
- Grenke: More thoughts on Related Parties, Cash and the “Brink”-Problem
- Viceroy’s Grenke-Cash Accusations – rather unlikely that they are true!
- IASB’s Financial Presentation Project: The EV/Equity Value Financial Analysis Problem
- What I have learnt for my little Beer Pub Business! The Wirecard Story so far (6)
- Lessons from the Scandal: Three Weaknesses of IFRS – The Wirecard Story so far (5)
- Wirecard’s low Tax Rates as a Warning Sign? The Wirecard Story so far (4)
- Gross Revenue Accounting – Audit is not Audit is not Audit! The Wirecard Story so far (3)
- KPMG’s Special Investigation Report: The Wirecard-Story so far (2)
- Wirecard’s Thrilla in Manila: The Story so far (1)
- Coronavirus: Beware of the Hidden Fixed Costs in Inventory Accounting
- Coronavirus: How did Conti manage to pass Q1-Reporting without Goodwill Impairments?
- Coronavirus: Q1-Reporting: Wild Loss Reluctance but only mild Cookie Jarring
- The Equity Premium – a Coronavirus-Puzzle!
- Coronavirus: Beware of the Overhedging Effect!
- Coronavirus: Flexibility – The Forgotten Factor in Equity Valuation and Analysis!
- Coronavirus: Adjustments to Rental Payments and IFRS 16
- Coronavirus: Fasten your Seat-Belt for the Year of Pension-Madness!
- Coronavirus: Some Thoughts on the Cost of Capital during the Crisis (Part 1: Equity Parameters)
- Coronavirus: Accounting Standard IFRS 9 – Coronavirus Crisis is NOT Financial Crisis 2008!
- Coronavirus: A brief Fundamental Analysis Manual for Equity Investors (Part 2)
- What is Debt??? Or: In Defence of the Fitch Approach on how to treat Leasing Liabilities
- Coronavirus: A brief Fundamental Analysis Manual for Equity Investors
- Little Swindles in the Dark? How Earnings per Share are calculated in Practice
- Northgate’s Depreciation Game – The “Fixed Assets become Inventories” Financial Analysis Problem
- Diageo’s Liquor Business – The Maturing Inventory Financial Analysis Problem
- Continental’s Mix Effects: Another Segment Reporting Financial Analysis Problem
- Telefonica DE’s OIBDA growth rates: Another Non-GAAP Financial Analysis Problem
- NMC Health: Demystifying Reverse Factoring: The “Three-is-a-Crowd” Financial Analysis Problem
- Stepping Up and Down the Value Ladder – The “Pars-pro-Toto” Financial Analysis Problem
- Better Information or Wiping-out Traces? – The Re-Segmentation Financial Analysis Problem
- How Renault manages its Accounting R&D-Treatment – The Asset/Expense Financial Analysis Problem
- Joint DRSC and IFRS Foundation Event: ‘Relevance of financial reporting in today’s global environment’
- Earn-Outs as Hidden Personnel Expenses – The M&A-Camouflage Financial Analysis Problem
- KBC’s and KBC Ancora’s Relative Pricing – Lessons learned for Distressed Equity Valuation
- Amadeus’ Magic FCF Improvement: The IFRS-16-Financial Analysis Problem (Part 3)
- Shell’s Skyrocketing Discount Rates: The IFRS-16-Financial Analysis Problem (Part 2)
- Deutsche Post: More Debt – Same Equity Value: The IFRS-16-Financial Analysis Problem (Part 1)
- Telia’s Net Debt / EBITDA Communication: The Restricted-Cash Financial Analysis Problem
- Santander’s Inflated Earnings: The “When-OCI-is-Core-Business” Financial Analysis Problem
- DOM’s “Underlying Earnings” Definition: The Profit-before-Cost Financial Analysis Problem
- GE’s 23 bn USD Goodwill Impairment: The Non-/Soft-/Hard-Cash Financial Analysis Problem
- Actuarial? Accounting? Repair? – The ”Pension Valuation” Conundrum
- Sasol’s climate spoof: The „useful life“ financial analysis problem
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