1. Objetivos
1.1. Conocer en profundidad el escenario de la competencia
1.1.1. affecting investment decisions and fair market value estimation
1.1.2. Valuation Mesures
1.1.2.1. Operating Metrics
1.1.2.2. Financial Metrics
1.1.3. Performacne Measures
1.2. Identificar razones claves que
1.3. Focus on Analysts and resulting Investment desicions
2. Problem
2.1. Analytical Perspective needs Accounting Background
2.1.1. Liquidation Value vs. Short Term Perspective vs. "Going Concern Valuation"
2.2. Valuation consists of at least 2 parts of which financial metrics has been introduced
2.2.1. FM is already installed
2.2.2. OM has previously been purchased from external analysts or gathered from studies.
2.2.3. Missing expertise in OM
2.2.4. Missing experience in comparing companies
2.2.4.1. Missing understanding in different Accounting Standards
2.2.4.2. Missing knowledge in how to compare and what to consider/watch
2.2.5. Missing background knowledge in Accounting Standards
2.3. Task: Getting Knowledge in fundamental OM and reserve reporting best practices to generage decision relevant and comparable information
3. Approach
3.1. Company Selection
3.1.1. Amex Oil Index
3.1.2. Accounting Methods differ on Company Size
3.1.2.1. Small/Mid/large Caps
3.2. Analytical Approach
3.2.1. Methodology
3.2.2. Financial Metrics
3.2.3. Operating Metrics
3.3. Find best in class
3.3.1. requires comparable information
3.4. Focus of this work, einschränkungen
3.4.1. Standards
3.4.1.1. US GAAp
3.4.1.2. Can GAAP
3.4.1.3. UK GAAP
3.4.1.4. IFRS
3.4.2. Companies
3.4.2.1. MarkCap greater than 1bil
3.4.2.2. Upstream and integrated
3.4.3. Valuation
3.4.3.1. operational measures
3.4.3.1.1. Reserve Ratios
3.4.3.1.2. production&efficiency Ratios