Sylabus predmetu FMD - Accounting Consequences of Financial Modelling (ŠAVŠ - WS 2017/2018)

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Course title: Accounting Consequences of Financial Modelling
Semester: WS 2017/2018
Course supervisor: doc. Ing. Romana Čižinská, Ph.D.
Supervising department: Department of Finance and Accounting (ŠAVŠ)
Prerequisites for registration: Bachelor state examination
Time allowance: full-time, 1/2 (hours of lectures per week / hours of seminars per week)
part-time, 0/12 (lectures per period / seminars per period)
Type of study: usual
Form of teaching: lecture, seminar
Mode of completion and credits: Exam (5 credits)
Course objective:
The goal of the course is to get students acquainted with the impacts of financial decision making into accounting statements. The emphasis is put on variability of inputs, which is typical for the decision making of the companies recently. During the course MS Excel is used as a basic tool.
 
Course methods: The full-time course consists of theoretical lectures and seminars. During the term, several case studies and exercises are elaborated. The part-time courses are based on tutorial sessions and individual tuitions with an individial lecturer.
 
Course content:
1.Analysis of Financial Statements and Evaluation of Financial Performance (allowance 3/3)
 
a.Financial ratios
b.Economic and market value added (EVA and MVA)
c.Relationship Between EVA, MVA and enterprise / equity value

2.Financial Planning of Accounting Statements (allowance 2/2)
 
a.Methods of Financial Planning
b.Net Working Capital Planning
c.Operating Leverage
d.Direct and Indirect Methods of Cash Flow Planning
e.Additional Funds Needed

3.Capital Budgeting and their Accouting Perspective (allowance 2/2)
 
a.Capital Expenditures and Income Planning
b.Dynamic Analytical Methods. Sensitivity Analysis.

4.Financial Investment. Portfolio Diversification. (allowance 2/2)
 
a.Accounting View of Financial Investments
b.Liquidity, Risk and Return. Risk and Return of the Individual Investments
c.Portfolio Diversification and the Efficient Frontier. Correlation.

5.Accounting Impacts of the Changes of Capital Employed and Relations to Equity / Entity Value (allowance 3/3)
 
a.Increase in Equity and its Accounting Projection
b.Evaluation of the Costs of Equity Using Empirical Data
c.Increase in Debt Capital and its Accounting Projection
d.Costs of Debt. WACC.
e.Relations Between WACC and Entity / Equity Value

 
Learning outcomes and competences:
After completing the course, student:
 
-Will argue the impacts of different company decisions on the additional funds needed taking WACC into consideration and solve "cyclical problem"
-Will assess the efficiency of different forms of the long term investments
-Will calculate and interpret the value of the company using discounted cash flow and economic value added valuation methods
-Will define main financial goal of the company, argue the possibilities of its measurement using company accounting statements and explain the company financial decisions with the positive contribution to the financial goal achievement
-Will evaluate company financial performance and interpret the structure of internally and externally generated cash flows

Teaching methods and workload (hours of workload):
Type of teaching methodDaily attendanceCombined form
Direct teaching
     Attendance of lectures12 h8 h
     Attendance of courses/seminars/tutorials24 h0 h
     Consultations with teacher (part-time form of study)0 h4 h
Self-study
     Course reading and ongoing preparation20 h30 h
     Ongoing evaluation14 h14 h
     Preparation for final test14 h28 h
Total84 h84 h
 
Assessment methods:
Requirement typeDaily attendanceCombined form
Term paper0 %50 %
Mid-term test(s)60 %0 %
Final test30 %36 %
Final oral exam10 %14 %
Total100 %100 %
 
Course completion:
Credit:
Completion of the two component (midterm) tests in MS Excel is necessary. The midterm covers numerical cases according to the materials in AIS. Minimum of 60% is required to pass every single test. Total Score is 32 points for each test at the maximum (i.e. 2 x 32 points).

Final Exam:
Written test containing 3 theoretical tasks (questions). Total Score is 12 points for each question at the maximum (i.e. 3 x 12 points). Oral exam follows, but is not necessary in the case of excellent written exam. See AIS for the list of questions (tasks). Minimum of 60 % is required to pass the test and achieve final grade.
Final Grade is computed based on the following formula: Two midterm tests (maximum of 2 x 32 points = 64 points) + Final Exam (maximum of 36 points) = maximum of 100 points. The grading scale is as follows:
90 - 100 points = 1
75 - 89 points = 2
60 - 74 points = 3
59 and less = fail
 
Support for combined/distance forms of study:
-- item not defined --
 
Reading list:
Basic:
Language of instruction: Czech
KISLINGEROVÁ, E. Manažerské finance.: 3. vydání +CD. 3rd ed. Praha: C.H.BECK, 2010. ISBN 978-80-7400-194-9.
MAŘÍK, M. Metody oceňování podniku.: Proces ocenění základní metody a postupy. 3rd ed. Praha: Ekopress, 2011. ISBN 978-80-86929-67-5.
RADOVÁ, J. -- MÁLEK, J. -- DVOŘÁK, P. Finanční matematika pro každého. 8th ed. Praha: Grada Publishing, a.s., 2013. ISBN 978-80-247-4831-3.

Study plans:
N-EM-MP Business Administration and Operations, part-time form, initial academic year SS 2015/2016
N-EM-MAR Marketing Management in the Global Environment, part-time form, initial academic year SS 2015/2016
N-EM-FRP Corporate Finance Management in the Global Environment, part-time form, initial academic year SS 2015/2016
N-EM-MP Business Administration and Operations, full-time form, initial academic year WS 2016/2017
N-EM-MP Business Administration and Operations, part-time form, initial academic year WS 2016/2017
N-EM-MAR Marketing Management in the Global Environment, part-time form, initial academic year WS 2016/2017
N-EM-FRP Corporate Finance Management in the Global Environment, part-time form, initial academic year WS 2016/2017
N-EM-GPME Marketing Management in the Global Environment, full-time form, initial academic year WS 2016/2017
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2016/2017
 
Run in the period of: SS 2019/2020, WS 2019/2020, SS 2018/2019, WS 2018/2019, SS 2017/2018, SS 2016/2017   (and older)
Course tutor: doc. Ing. Romana Čižinská, Ph.D. (examiner, instructor, lecturer, supervisor)
Teaching language: Czech, English
Room: Mladá Boleslav, Praha


Last modification made by Ing. Lucie Bydžovská on 02/21/2018.

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