Course Registration FAQs

Professor David Wessels

Thank you for your interest in the course! Unfortunately, registration for the course is handled by others, and I am not involved in the enrollment process. Below are answers to the most asked questions regarding registration. Good luck with your course selection, and I hope to see you in a future class!

Registration Process: The course says closed, or instructor permit required, how can I enroll?

Since the class is full, there is a formal process for course registration. Seats will be immediately granted when a classmate drops, ensuring that no seat goes unfilled. Unfortunately, seats cannot be granted on the specifics of your personal situation, only the process. To register, follow the instructions provided below:

· If you are a rising Wharton junior or senior, set an alert in Path@Penn to notify you when a seat opens. When a seat opens, you will be able to add the seat directly, first come first serve. If you believe you have been designated incorrectly, please reach out to the undergraduate program office; only they can change your designation status.

· If you are an undergraduate outside Wharton, you can add your name to the course waitlist using the “waitlist request form” on the finance department website. If you still have unanswered questions about undergraduate registration or how the waitlist works, please email fnce-courses@wharton.upenn.edu.

· If you are an MBA candidate, the process is controlled by course match; there is no work around. For questions regarding graduate enrollment, please visit the MBA program office, or send an email to mbaprogram@wharton.upenn.edu

· If you are a graduate student outside Wharton, seats are only made available after MBA registration clears the first week of class (i.e. September). More information can be found at MBA-Inside. Also, if you have not completed the course pre-requisites, please see below to prepare properly.

I really want to take the class, how good are my chances?

Typically, 1-2 people per section drop during the first week of class. Any empty seats will be immediately filled, based on its enrollment/wait list system.

Can I audit the course?

Auditors must follow the same registration process as outlined above, and will only be granted seats once the waitlist clears.

Will you be expanding enrollment?

No, for many well thought out reasons, enrollment is fixed by the finance department chair, not by me. The class will be offered by another professor again next semester.

I am enrolled, but need to switch sections. Can I?

Unfortunately, no, as enrollment is restricted by the university registrar to a particular section. I have been told directly by the registrar that students need to work through the normal registration process to switch sections, even if two students are amenable. Do NOT drop the class to switch sections, you might not get it back!

Preparing for the Course

For those enrolling in Valuation: I have not taken the core accounting class, can I enroll?

Yes, but before you do, here is a self-test to analyze your proficiency in core accounting.

“At year-end 2020, a company holds $100 million in cash, and has $100 million in retained earnings. It has no other accounts. In 2021, the company generates $40 million in revenue, pays its employees $25 million in labor costs, and pays a contractor $35 million to build a new production facility. Taxes are paid at 40%, but will be deferred to next year. Please create the balance sheet at the end of 2021.” (80, 35, 6, 109 should look familiar).

If you can solve the question above without learning the material as new, then you (likely) have the base knowledge required for class! If not, I strongly recommend taking a financial accounting class, as it will teach many helpful skills, and better enable you in Valuation in a later term.

For those enrolling in Valuation: I have not taken the core finance class, can I enroll?

Yes, but before you do, here is a self-test to analyze your proficiency in core finance.

“A company has $100 million in expected free cash flow, payable one year from today. Cash flow will grow at 20% for five years (i.e. through the sixth cash flow), and then cash flow will grow in perpetuity at 3%. What is the value of the company?” (2,752 should look familiar)

If you can solve the question above without a spreadsheet, and without learning the material as new, then you (likely) have the base knowledge required for class! If not, I strongly recommend taking the core finance class, as it will teach many helpful skills (annuities, perpetuities, cost of capital), and better enable you in Valuation in a later term.

For those enrolling in Venture Capital: I have not taken the core finance class, can I enroll?

Yes, this course stands alone. There will be a few tools we rely on, but nothing that should restrict your progress in the course.

Good luck and I hope to see you in class!