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International Taxation and Financial Analysis

Module name (EN):
Name of module in study programme. It should be precise and clear.
International Taxation and Financial Analysis
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
International Management, Master, ASPO 01.10.2012
Module code: MAIM-142
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
4V (4 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
Semester: 1
Mandatory course: yes
Language of instruction:
Required academic prerequisites (ASPO):
Written examination

[still undocumented]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

MAIM-142 (P420-0300) International Management, Master, ASPO 01.10.2012 , semester 1, mandatory course
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 180 hours (equivalent to 6 ECTS credits).
There are therefore 135 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
Recommended as prerequisite for:
Module coordinator:
Prof. Dr. Matthias Gröhl
Prof. Dr. Matthias Gröhl (lecture)
Prof. Dr. Andy Junker (lecture)

[updated 25.02.2016]
Learning outcomes:
International Taxation:
The course provides in-depth knowledge about the international fiscal framework important for international economic operations.
The students will first be introduced to the fundamental problems of possible double taxation at home and abroad. It is important here to distinguish whether it is a case of a resident tax payer (outbound case) or a non-resident tax payer (inbound case). In this context the unlimited or restricted tax liability will be discussed and the resulting consequences covered.
The participants acquire fundamental knowledge with regard to the various methods of avoiding and mitigating double taxation and apply these to concrete cases.
Within the framework of so-called outbound cases a distinction is made between resident tax payers with relationships to non-double taxation agreement countries and those with relationships to double taxation agreement countries. In the first case, the most important types of foreign income and the unilateral measures for the avoidance of double taxation connected with them are discussed. In the second case, the students acquire extensive knowledge about the workings and structure of the Double Taxation Avoidance Agreement and understand the bilateral measures for the avoidance of double taxation behind it. This theoretical knowledge will be applied to a large number of practical cases.
With regard to the so-called inbound cases the participants will learn about the taxation of persons subject to limited taxation in Germany. The course ends with a brief introduction into the Foreign Tax Act.
Financial analysis:
•        The students can explain and discuss the goals and course of the annual account analysis. In doing so, they can derive the difficulties of the analysis from observing the annual account politics.
•        The participants are made familiar with central aspects within the framework of the analysis of the profit, financial and liquidity situation. The analyses will be seen predominantly from the investor‘s perspective who is debating a company takeover or participation in a company.
•        In order to understand a company’s profitability, the students will learn about the central analyses within the framework of the profit and loss statement. In addition, they will learn about the importance of profitability figures and profit adjustments.
•        The analysis of the financial standing targets fundamental assets and liabilities. In addition participants become familiar with the terms “working capital” and “net financial liabilities” and understand their relevancy within the framework of determining the purchase price for a company takeover. They will also learn about the important key figures of the assets, liabilities and shareholder’s equity.
•        The students will become familiar with cash flow calculation in the analysis of the liquidity situation. Based on this, they will learn about the main cash flow drivers and investment analyses. Finally, they will learn about the most important key figures when evaluating a company’s liquidity.
•        The students can apply their theoretical knowledge to a range of practice-related exercises.

[updated 05.01.2016]
Module content:
International Taxation:
I      Introduction to international tax law
1.        Problem areas and terminology
2.        Unlimited and restricted tax liability
II    Methods for avoiding and mitigating double taxation
III   Resident taxpayers with relationships in non-Double Tax Avoidance Agreement-countries (outbound)
1.        Foreign income according to §34d EStG (Income Tax Act)
2.        Unilateral measures for avoiding double taxation
IV   Resident taxpayers with relationships in Double Tax Avoidance Agreement-countries (outbound)
1.        Workings and structure of the Double Tax Avoidance Agreement
2.        Bilateral measures for the avoidance of double taxation
3.        Selected classification principles of the Double Tax Avoidance Agreement
V    Non-resident tax payers (inbound)
VI   The regulations of the Foreign Transaction Tax Act
Financial Analysis:
I. Introduction to financial analysis
II. Analysis of earnings
    1. P&L analysis
    2. Profitability ratios and earnings adjustments
III. Analysis of balance sheet
    1. Analysis of assets and liabilities
    2. Working capital and net debt
    3. Asset and capital structure ratios
IV. Analysis of cash flow and liquidity
    1. Cash flow calculation
    2. Cash flow and capex analysis
    3. Asset cover and liquidity ratios

[updated 05.01.2016]
Teaching methods/Media:
Lecture with case studies, exercises and research tasks

[updated 05.01.2016]
Recommended or required reading:
International Taxation:
Brähler, G.: Internationales Steuerrecht, 6 th  edition, Wiesbaden 2010.
Breithecker, K.: Einführung in die internationale betriebswirtschaftliche Steuerlehre, 3rd edition, Berlin 2011.
Grotherr, S./Herfort, C./Strunk, G.: Internationales Steuerrecht, 3rd edition, 2010.
Grotherr, S. /Abele, S.: Handbuch der internationalen Steuerplanung, 3rd  edition, Herne 2011.
Raupach, A.: Praxis des Internationalen Steuerrechts, Herne 2011.
Ruhlmann, M.: Internationales Steuerrecht, 1st edition, Berlin 2012.
Schaumburg, H.: Internationales Steuerrecht : Außensteuerrecht, Doppelbesteuerungsrecht, 3rd edition, Cologne 2011.
Wilke, K.-M.: Lehrbuch Internationales Steuerrecht, NWB-Verlag, 11th edition, Herne 2009.
Wilke, K.-M.: Fallsammlung internationales Steuerrecht, NWB-Verlag, 9th edition, Herne 2009.
Financial Analysis:
Behringer, S.: Cash Flow und Unternehmensbeurteilung, 9 th edition, Berlin 2007.
Brealey, R. A. / Myers, S. C.: Principles of Corporate Finance, 9 th edition, Boston 2008.
Coenenberg, A. G. et al.: Jahresabschluss und Jahresabschlussanalyse, 21st edition, Landsberg am Lech 2009.
Gräfer, H.: Bilanzanalyse, 10 th edition, Herne 2008.
Higgins, R. C.: Analysis for Financial Management, 9th edition, Boston 2009.
Hillier, D. et al: Corporate Finance, European edition, London 2010.
Kimmel, P.D. et al.: Financial Accounting, 5th edition, Hoboken 2009.
Küting, K. / Weber, C.-P.: Die Bilanzanalyse, 9 th edition, Stuttgart 2009.
Schult, E. / Brösel, G.: Bilanzanalyse, 12 th edition, Berlin 2008.
Wild, J. J. et al..: Financial Statement Analysis, 9th edition, Boston 2007.

[updated 05.01.2016]
[Sun Apr  2 06:46:37 CEST 2023, CKEY=iitafaa, BKEY=imm2, CID=MAIM-142, LANGUAGE=en, DATE=02.04.2023]