Last modified: 2018-01-19
Abstract
In an information age where data is currency, it is critical for students to have the skills to access, manipulate, analyze and interpret real-market data. This paper provides a project for financial statements analysis using Bloomberg and Thomson Reuters. The paper has proven very helpful for students to learn how to effectively use Bloomberg and Thomson Reuters for conducting a financial statement analysis project and for faculty to develop an effective learning experience closing the gap between theoretical knowledge and the expectations of the 21st century workplace. The project also supports the implementation of the learning framework to address the spirit and intent of the AACSB business and accounting standards related to information technology skills and knowledge (AACSB 2017).
Given economic uncertainties and changes in the regulatory environments, businesses must adapt to stay profitable. To do so, they are adopting big data analytics, using cutting-edge software with real-market data, and they need skilled employees ready to function in this ever-changing environment.
If the university goal is to prepare students for their future careers in the real world, the question is: are our students well equipped or not? What needs to change? How do we all do it? Bringing Bloomberg and Thomson Reuters into the curriculum gives students hands-on experience with a set of tools used by business professionals on daily basis, providing a competitive edge in today’s job market.
To our knowledge, there aren’t too many examples of integrating real market data and analytics in accounting and finance courses. Our paper provides a project assignment available to accounting and finance instructors to help them integrate Bloomberg and Thomson Reuters into the business curriculum. It’s been taught in the Financial Services Lab successfully in undergraduate and graduate courses at American University’s Kogod School of Business.
This paper will assist professors by providing them with a project on how to use Bloomberg and Thomson Reuters, and help students solidify their understanding of theoretical knowledge by applying it to a real life scenario. The students will learn how to effectively find information on particular topics in finance and accounting, how to collect and manipulate critical data in Excel from Bloomberg and Thomson Reuters, how to complete a project that describes and demonstrates students’ investigation, and how to compare the results to the market response.
As the business models evolve and businessmen, investors, and regulatory bodies look toward even more quantifiable solutions, students must also evolve from simply accessing research resources to developing more targeted and tailored analysis using real data and analytics that fits specific strategies.
With this project, both faculty and students will better understand that they will need better tools for measuring the performance of their research. They will also learn that their research needs to justify their investments, evaluate data providers, and drive future planning using data accessed through tools such as Bloomberg or Thomson Reuters.
The paper is organized as follows: Section 2 provides a literature review on the use of financial technologies in teaching business courses. Section 3 presents an overview of Bloomberg Professional and Thomson Reuters financial technologies along with their importance, advantages and challenges in integrating them. Â Section 4 explains the project and provides the guidelines and step-by-step instructions of how to use Bloomberg and Thomson Reuters to complete the project. Â Section 4 also demonstrates how to use Excel to retrieve and manipulate critical data necessary for conducting the analysis. Section 5 provides a summary and conclusion.