Students are expected to work on a project and finish it prior to the date of the final exam. There are two choices:
(1) pro forma forecast for a real company: the students will pick a real-world company and forecast its AFN
(2) valuate a real firm’s operations: use its accounting statements to find FCF and the implied value of the firm and equity
Students need to discuss their choice of the term project with the instructor in the first week and write a report and submit it by the date of the final exam. The report should contain at least 5 pages.