Course syllabus PF - Financial Management II (ŠAVŠ - Sklad předmětů)

     Czech          English          

Course title: Financial Management II
Semester: -- item not defined --
Course supervisor: doc. Ing. Tomáš Krabec, Ph.D., MBA
Supervising department: Department of Finance and Accounting (ŠAVŠ)
Prerequisites for registration: Bachelor state examination
Time allowance: full-time, 1/1 (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 (4 credits)
Course objective:
Upon completition of this advanced course, graduates will be able to understand the modern principles of financial management and decision-making in non-financial enterprises. The course covers the most important issues with which the financial manager in his daily practice encounters, starting with the financial statements and their quality over short-term financial management, financial planning, asset and liability management, the practical use of the results of the financial analysis, to more advanced aspects such as the valuation of assets and entire companies, value aspects of mergers and acquisitions and due diligence, with an emphasis on corporate finance. The course extends from the bachelor's interpretation of complex methods and models and adds examples of current business practices.
 
Course methods: The course will be conducted through structured seminars. It assumes an active interest of master students more narrowly focused on theoretical and practical problems of financial management.
 
Course content:
1.Repetition and precisation of the concept of corporate finance: basic terms, financial statements, national and international standardization of financial reporting, cash flow, taxes, goodwill, market and book value of assets, quoted and unquoted companies. (allowance 1/1)
2.Strategic analysis from the corporate finance view: macroeconomic environment, business cycle, product life cycle and the importance of competition, concepts and possibilities of competing strategies. Business risk and sensitivity analysis. (allowance 1/1)
3.Operating and non-operating assets, invested capital, financial and capital structure, time value of money in corporate finance. (allowance 1/1)
4.Use of financial statements and financial analysis, interpretation of results, benchmarking. Cash flows - the importance of cash flow, calculation methods, characterization. Direct and indirect method of calculating cash flow. Possibilities of using Cash Flow in financial management. (allowance 1/1)
5.Capital structure: Basic concepts. The choice between equity and debt, the effect of financial leverage and financial risk. Neoclassical concept of maximizing the firm's value, net of any tax effects, cost, and the possibility of bankruptcy, dividend policy. (allowance 1/1)
6.Estimating the discount rate. Risk-free interest rate and the risk premium. CAPM, the cost of debt, the required return on equity by debt ratios. (allowance 1/1)
7.Basic principles of valuation. Business valuation and equity valuation, fundamental and technical analysis of the valuation of shares. (allowance 1/1)
8.Valuation based on market multiples. (allowance 1/1)
9.Financial planning, pro forma statements, projections of financial performance and cash flow. (allowance 1/1)
10.Short-term financial management: practical aspects. (allowance 1/1)
11.Differences between small and medium-sized enterprises and multinationals: a financial perspective. (allowance 1/1)
12.Advanced topics: mergers, acquisitions and value based management. Financing projects through private equity, LBO transactions, MBO, MBI. (allowance 1/1)
 
Learning outcomes and competences:
After completing the course, student will be able to:
 
-Will analyze the value drivers
-Will apply independent financial analysis on manufacturing and trade companies
-Will apply value based management methods and quantify value of assets in real situations

Teaching methods and workload (hours of workload):
Type of teaching methodDaily attendanceCombined form
Direct teaching
     Attendance of lectures24 h8 h
     Consultations with thesis supervisor (MT, BT)0 h2 h
Self-study
     Course reading and ongoing preparation30 h46 h
     Composing of individual (seminar) work16 h14 h
     Composing of presentation16 h14 h
     Preparation for final test28 h28 h
Total114 h112 h
 
Assessment methods:
Requirement typeDaily attendanceCombined form
Term paper32 %32 %
Presentation32 %32 %
Final test36 %36 %
Total100 %100 %
 
Course completion:
Participants will elaborate a selected topic in the form of text output. The aim of the exercises will be a discussion of topics treated by the participants. Each part (i.e. textual and oral presentation) is evaluated by a maximum of 32 points. For successful completition the participants must obtain at least 60% of the points from each individual task components within the semester. Altogether, it is possible to obtain a maximum of 64 points (2 parts x 32 points). Final exam: Written test with open questions, possibly combined with a computational assessment. Oral examination in case of ambiguity. From the tests it is possible to obtain a maximum of 36 points (3 questions x 12 points). To test score counted in the overall evaluation, the student must obtain at least 60% of points (e.g. to answer one question correctly and completely one part).
Rating of the semestral assignment and assessment test are added together and enter into the overall rating, based on which the final grade is awarded according to the following scale: 90-100 excellent, 75-89 very good, 60-74 good, 59 and less failed. Test must include also the students who get full marks from the two semestral assignments.
 
Support for combined/distance forms of study:
Teacher's materials available through the AIS.
 
Reading list:
Basic:
DAMODARAN, A. Corporate Finance.: Theory and Practice. 2nd ed. USA: John Wiley & Sons Ltd, 2001. 982 p. ISBN 0-471-28332-0.

Recommended:
Brigham, E. -- Erhards, M. Corporate Finance: A Focused Approach. 6. vyd. South-Western College Pub, 2016. ISBN 1305637100
Časopis Ekonom (týdeník Hospodářských novin)
Damodaran, A. The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses 3. vyd. Pearson FT Press, 2018. 800 s. ISBN 0134854101
Finance Magazine , vydavatelství Newfinances, s.r.o., online, dostupné z http://www.financemagazine.cz
Koller, T. -- Goedhart, M. -- Wessels, D. Valuation: Measuring and Managing the Value of Companies. 6. vyd. Wiley, 2015. 848 s. ISBN 111887370X

Study plans:
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year SS 2012/2013
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2013/2014
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year SS 2013/2014
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2014/2015
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year SS 2014/2015
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2015/2016
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-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 2016/2017
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year SS 2016/2017
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2017/2018
N-EM-FRP Corporate Finance Management in the Global Environment, part-time form, initial academic year WS 2017/2018
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year SS 2017/2018
N-EM-FRP Corporate Finance Management in the Global Environment, part-time form, initial academic year WS 2018/2019
N-EM-GPFRE Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2018/2019
N-EM-FRP Corporate Finance Management in the Global Environment, full-time form, initial academic year WS 2018/2019
Track NFMPE Corporate Finance in International Business full-time form, initial academic year SS 2018/2019
Track NFMP Corporate Finance in International Business full-time form, initial academic year SS 2018/2019
Track NFMP Corporate Finance in International Business full-time form, initial academic year SS 2018/2019
Track NFMP Corporate Finance in International Business part-time form, initial academic year SS 2018/2019
Track NFMP Corporate Finance in International Business full-time form, initial academic year WS 2019/2020
Track NFMP Corporate Finance in International Business part-time form, initial academic year WS 2019/2020
Track NFMP Corporate Finance in International Business full-time form, initial academic year WS 2019/2020
Track NFMPE Corporate Finance in International Business full-time form, initial academic year WS 2019/2020
 
Run in the period of: WS 2019/2020, SS 2018/2019, WS 2018/2019, SS 2017/2018, WS 2017/2018, SS 2016/2017   (and older)
Course tutor: doc. Ing. Tomáš Krabec, Ph.D., MBA (examiner, instructor, supervisor)
Teaching language: Czech, English
Room: Mladá Boleslav


Last modification made by doc. Ing. Tomáš Krabec, Ph.D., MBA on 06/03/2018.

Type of output: