The course that is described and discussed herein is a B level (2^nd year) finance course at Umeå University in Umeå, Sweden – Financial Analysis and Valuation (Räkenskapsanalys och Värdering). The course is designed to develop students’ ability to comprehend business information and to use different methods and tools of financial analysis and valuation, especially in connection with business valuation. Existing corporate information is used in teaching, and emphasis is placed on the interpretation of observation. Analyses are motivated by the need for ongoing evaluations of companies in financial terms. Various problems are highlighted and discussed; measures such as how business valuation can affect various stakeholders and potential implications are related to ethics and sustainability. A group term paper (PM) is required in the course. The analysis within the term paper, although primarily financial, also has a social and organizational perspective, which affects the choice of the appropriate method of approach.