Duration
30h Th
Number of credits
| Master in management (120 ECTS) | 5 crédits |
Lecturer
Language(s) of instruction
French language
Organisation and examination
Teaching in the first semester, review in January
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
This course covers the legal and financial diagnostic techniques and tools that you have seen throughout your course and which you will be expected to synthesise. The course will show you how business support professionals use these techniques and tools in their daily practice.
The 10 sessions are structured around the life cycle of a company and cover
- its creation (legal aspects)
- its launch phase (support for emerging companies)
- its growth phase (financing the various stages of growth)
- its transmission phase (transferring and taking over a business)
- its eventual decline phase (liquidation and recovery of the company in difficulty).
Given the busy schedule of the speakers, the sessions will not always be able to take place in the logical order of the business life cycle.
Learning outcomes of the learning unit
General objective
At the end of the course, you should be able to mobilise your knowledge of financial and legal diagnosis in order to carry out the different phases of its conception.
Specific objectives
At the end of the course, you will be able to :
- Identify the financial and legal diagnostic tools appropriate to the case of a specific company
- Extract the key data of a company allowing to carry out the diagnosis
- Formulate the diagnosis on its different components (activities, market, production, functioning, legal - social and financial environment)
- Justify the relationships presented between the key data and the conclusions of the diagnosis
- Propose possible solutions and action plans
- Argue the relevance of the diagnosis made
Skills
In addition to the elements mentioned above, the case also aims to enable you to develop your ability to
- Listen to the company's management and your peers
- Respect the point of view of others
- Seek consensus with your peers on the conclusions, possible solutions and action plans included in your diagnosis
- Communicate clearly (both in writing and orally)
- Convince the lecturer of the relevance of your diagnosis
Prerequisite knowledge and skills
This course is part of the Financial Audit and Analysis programme. It builds on the knowledge you have gained throughout your course.
This course is a continuation of the following courses:
- GEST3014-2: Principles of Marketing
- FINA0067-1: Finance and Accounting (Belgian accounting standards)
- DROI2003-1 or DROI2003-2 : General legal management of the company (Belgian law)
- FINA0001-1 : Analysis of Financial Statements and Corporate Finance (Belgian Accounting Standards)
- FINA0011-2 : Audit (Belgian standards)
- FINA0050-1 : Corporate Finance
It implies an ability to mobilise knowledge acquired in the above-mentioned courses.
The revision of some of these prerequisites is integrated in sessions 1 to 5.
Students who have not taken these courses are strongly advised to consult the pedagogical commitments of these courses.
Planned learning activities and teaching methods
Course
In order to help you reach your objectives of a quality diagnosis, the 10 sessions of the course will be divided as follows
Session 1: Presentation of pedagogical commitments & introduction to financial and legal diagnosis: business analysis (guest Etienne FRAIKIN - Visual Impact)
Session 2: Introduction to financial and legal diagnosis: legal environment (CSA - based on examples) and contractual commitments
Session 3: Introduction to the financial and legal diagnosis: financial performance - synthesis of the diagnosis - RW aid
The first 3 sessions should provide you with the first tools necessary to develop the interview guide to carry out your diagnosis and the first analyses of the chosen company. The presentation of the material, based on examples and testimonies, is intended to be interactive and your active participation is desired.
The following sessions will allow you to refine your diagnosis and to propose improvements or solutions to the problems identified during your interviews with the company's general and financial management (or external accountant).
Session 4: Transfer and sale of companies (guest speaker: Olivier MALCHAIR - former shareholder of Synchrone company)
Session 5: Companies in difficulty (PRJ, liquidation, bankruptcies) - restructuring (mergers, splits) (based on concrete examples) - Work in session on the diagnosis.
Session 6 : Financing (Investment Fund - Christophe PICARD - IFJ)
Session 7: Financing (CBC - Mr. Alain PLUMIER)
Session 8: Financing & Transmission (Jean-Pierre DI BARTOLOMEO - WALLONIE ENTREPRENDRE)
Session 9: Social audit (SD WORX - Delphine LERUITTE)
Session 10 : Work in session on the diagnosis to be handed in for the exam - questions and answers with the lecturer
The richness of your exchanges with the speakers will contribute to the finesse of your diagnosis.
The schedule and its content can be adapted according to your needs and the availability of the speakers. Some sessions will be subject to wooclap formative tests.
Availability
Outside of class hours, you can ask questions to the instructor. It is highly recommended to make an appointment by email grace.garrais@uliege.be
Mode of delivery (face to face, distance learning, hybrid learning)
Face-to-face course
Additional information:
The sessions will take place face-to-face in compliance with the health measures in force.
Sessions could be conducted virtually if health measures require it.
Recommended or required readings
Required reading
Slides of the lecturer
Slides of the speakers available on lol@
Recommended readings (listed in order of importance, for those who would like to go deeper into a subject):
ATAMER, T., & CALORI. R., (2011). Diagnostic et décisions stratégiques. DUNOD.
SILLERO, A. (2002). Diagnostic global d'entreprise, Guide pratique d'investigation et de due diligence destiné aux opérations d'acquisition, de fusion et d'évaluation. Editions ESKA.
PARIENTE, S., & MARTINEZ, I. (2020). Diagnostic financier de l'entreprise - Méthodologie et stratégie gagnante. DUNOD.
To reinforce the up-to-date nature of your diagnosis, students are also advised to regularly consult the general press and specialist journals, in particular on
- legal changes that may have an impact on your diagnosis
- legal changes that may have an impact on your diagnosis
- support measures for Belgian companies
Exam(s) in session
Any session
- In-person
oral exam
Written work / report
Additional information:
The evaluation of your learning will take the form of a diagnosis of a company filing annual statutory accounts with the Belgian National Bank. It is up to the students to find a company that interests them by their own means. This diagnosis will be carried out by groups of 4 or 5 people depending on the total number of students enrolled in the course. This diagnosis will include a strategic component that is inseparable from the financial and legal components. In order to ensure that you have the necessary resources and information to carry out a quality diagnosis, you will have to set up at least 3 meetings, two with the company's general management (or one with the general management and another department that seems relevant to your diagnosis) and one with the financial management or the external chartered accountant or the auditor of the chosen company - it is essential to ensure that they cooperate well before starting the diagnosis.
By 10/11/2023 midnight, the students will have to submit on lol@ the name of the chosen company, the scheduled meetings and the interview guide. This document is part of the continuous evaluation.
You will find below the evaluation modalities envisaged in face-to-face and distance learning as well as the one wished in case of a hybrid session. Depending on the health evolution, the chosen modality will be communicated to you at the latest one month before the beginning of the session.
First session:
The grade is composed of 3 elements:
- Continuous assessment based on attendance at the course, participation in the wooclaps, summary of the name of the company / the appointments made / the contacts / the interview guide
- Diagnosis carried out in group
- Oral exam (in January)
Successful completion of the entire course is conditional upon obtaining a minimum grade of 50% in weighted average for the individual tests (continuous evaluation and oral exam).
Any absence or attendance rating in one of these 3 tests will prevail for the entire final grade.
Face-to-face:
Written report to be posted on lol@ by 12/20/2023 midnight at the latest - details on the form of the report will be provided to you at the first class.
Oral exam in the HEC-ULG premises by group.
Duration of the exam: one hour maximum per group during the January session in the form of
- a 20-minute presentation (simulated presentation of the diagnosis to the company's management)
- an oral defense of the diagnosis: individual answers to the jury's questions (lecturer alone or accompanied)
- answers to questions on the subject presented by the lecturer and guests
Distance learning:
Written report to be posted on lol@ by 12/20/2023 midnight at the latest - details on the form of the report will be provided to you at the first class.
Oral exam in videoconference by group.
Duration of the exam: one hour maximum per group during the January session in the form of
- a 20-minute presentation (simulated presentation of the diagnosis to the company's management)
- an oral defense of the diagnosis: individual answers to the jury's questions (lecturer alone or accompanied)
- answers to questions on the subject presented by the lecturer and guests
In hybrid :
Preference for face-to-face
Second Session:
The grade is composed of 2 elements:
- Diagnosis carried out in group or alone if it is the only representative of the group
- Oral exam (in August)
Successful completion of the entire course is conditional upon obtaining a minimum grade of 50% in weighted average for the individual tests.
Any absence or attendance rating in one of these 2 tests will prevail for the entire final grade.
Face-to-face:
Written report to be posted on lol@ by midnight 08/15/2023
Oral exam in the HEC-ULG premises by group.
Duration of the exam: one hour maximum per group / per student if he is the only representative of the group during the August session in the form of
- a 20-minute presentation (simulated presentation of the diagnosis to the company's management)
- an oral defense of the diagnosis: individual answers to the jury's questions (lecturer alone or accompanied)
- answers to questions on the subject presented by the lecturer and guests
Distance learning:
Written report to be posted on lol@ by midnight 08/15/2023
Oral exam in videoconference
Duration of the exam: one hour maximum per group / per student if he/she is the only representative of the group during the August session in the form of
- a 20-minute presentation (simulated presentation of the diagnosis to the company's management)
- an oral defense of the diagnosis: individual answers to the jury's questions (lecturer alone or accompanied)
- answers to questions on the subject presented by the lecturer and guests
In hybrid :
Preference for face-to-face
Course attendance:
Students are strongly advised to attend ALL class sessions (continuous assessment).
Session 5 and session 10 are mandatory for ALL group members. This ensures team cohesion.
Weighting:
First Session :
Written report 40%: the group grade will be individually weighted by peer review (one file per student to be submitted on lol@ by the same deadline as the written report) (student grade = 0.5 * group grade * total points earned in peer review / maximum points assignable + 0.5 * group grade)
Oral presentation and defense 45%:
Group presentation of a professional quality Powerpoint presentation (assigned an individual grade)
oral defense of the Powerpoint (individual answers - individual grade)
answers to questions on the subject presented by the lecturer and guests
Continuous assessment: 15% (attendance - wooclap - company name synthesis / appointments made / contacts / interview guide)
Second session
Written report 50%: the grade obtained by the group will be individually weighted by a peer evaluation (one file per student to be uploaded on lol@ at the same deadline as the written report) (student's grade = 0.5 * group grade * total points obtained during the peer evaluation / maximum points attributable + 0.5 * group grade)
Presentation and oral defense 50% :
Presentation by the group / student of a professional quality Powerpoint presentation (awarded an individual grade)
Oral defense of the Powerpoint (individual answers - individual grade)
answers to questions on the subject presented by the lecturer and guests
Consultation of group work
The student has the right to consult his/her group work after the publication of the results. The student is invited to contact the professor within a maximum of 2 weeks after the publication of the results in order to make an appointment within one month of the publication of the results.
Work placement(s)
Organisational remarks and main changes to the course
The course will in principle take place from 1 to 4 pm (09/21/2023 - 09/28/2023 - 10/05/2023 - 10/12/2023 - 10/19/2023 - 10/26/2023 - 11/09/2023 - 11/16/2023 - 11/23/2023 - 11/30/2023) at HEC LIEGE - Rue Louvrex 14 - 4000 Liège - room N1a 34 (0/34).
The pedagogical commitments as well as the diagnosis to be made will be presented during the first course (09/21/2023).
The groups of students (4 to 5 students depending on the number of registrations) will have to be formed and registered in lol@ by 10/01/2023, you cannot register in a group already formed without the prior agreement of the other members of the group. Otherwise your registration will be removed from lol@ and you will have to find a group that accepts you.
It is recommended that you actively look for a company at the beginning of the first quarter to carry out the diagnosis and to start as soon as possible. The ideal is a company in your immediate or professional environment to ensure you have access to the information.
Contacts
Useful information is also available on lol@ (course code).
Outside of class hours, you can ask questions to the lecturer. It is mandatory to make an appointment by email:
Grace GARRAIS
grace.garrais@uliege.be
Present only on Thursday from 13 to 16 pm & on appointment
Locker in the teachers' room (ground floor N1) - notify by email that a document has been deposited in the locker
GSM : 0495/62.00.60 - only in case of emergency
For questions relating to course registration, please contact the HEC LIEGE office:
HEC LIEGE - Rue Louvrex 14 - 4000 Liège - Office 022 (ground floor N1) - open from 8 am to 5 pm (working days)
Vincenza D'AGOSTINO
04/366.27.49
Vincenza.DAgostino@uliege.be
Yentl PICHLER
Yentl.Pichler@uliege.be
04/366.51.16
For questions related to lol@, please contact the UDI of HEC LIEGE :
udi.hec@uliege.be
Salvatore FANARA
Sébastien GRÉGOIRE