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ESENCIALS OF CORPORATE FINANCE (Vilnius University Faculty of Economics Marketing and Global Business Group)

 

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VILNIUS UNIVERSITY

Faculty of Economics

ESSENTIALS OF CORPORATE FINANCE

The course is dedicated to students of Vilnius University, Faculty of Economics, Marketing and global business group

Prepared by prof. dr. Arvydas Paðkevièius

The course Essentials of Corporate Finance introduces the fundamentals of financial management of a public company, therefore it may be attended by the students who are only starting to study financial disciplines.

The course of Essentials of Corporate Finance covers the concepts of cash flows, the fundamentals of financial analysis and introduces the principles of long-term financial planning and various cases of calculation of time value of money.

The purpose of the course is not only to acquaint the students with the fundamental concepts of corporate managerial finance but also to formulate practical skills while solving elementary financial problems. Therefore, the course includes not only theoretical lectures but also practical work and home assignments. The course consists of 48 hours, 5 credits.

SUBJECT (MODULE) DESCRIPTION

SYLLABUS

1.     Introduction to Corporate Finance

1.1. Corporate Finance and the Financial Manager
1.2. The Forms of Business Organization

1.3. The Goal of Financial Management
1.4. The Agency Problem and Control of the Corporation

1.5. Financial Markets and the Corporation

       Lecture Notes               Test Questions

2.     Financial Statements and Cash Flow

2.1. The Balance Sheet
2.2. The Income Statement
2.3. Cash flow

                Lecture Notes             Test Questions

3. Working with Financial Statements

3.1. Cash Flow and Financial Statements: A Closer Look
3.2. Standardized Financial Statements
3.3. Ratio Analysis
3.4. The Du Pont Identity
3.5. Using Financial Statement information

                  Lecture Notes        Q&P       Test Questions

4. Long-term Financial Planning and Growth

4.1. What is Financial Planning?
4.2. Financial Planning Models: A First Look
4.3. The Percentage of Sales Approach
4.4. External Financing and Growth

                  Lecture Notes     Q&P        Test Questions

5. The Time Value of Money

5.1. Future Value and Compounding
5.2. Present Value and Discounting
5.3. More on Present and Future Values

                Lecture Notes       Q&P        Test Questions

6. Discounted Cash Flow Valuation

6.1. Present and Future Values of Multiple Cash Flows
6.2. Valuing Level Cash Flows: Annuities and Perpetuities
6.3. Comparing Rates: The Effect of Compounding

6.4. Loan Types and Loan Amortization

                   Lecture Notes       Q&P        Test Questions

7. Interest Rates and Bond Valuation

7.1. Bonds and Bond Valuation

7.2. More on Bond Features

7.3. Bond Ratings

7.4. Some Different Types of Bonds

7.5. Bond Markets

7.6. Inflation and Interest Rates

7.7. Determinants of Bond Rates

                      Lecture Notes     Q&P        Test Questions

8. Stock Valuation

8.1. Common Stock Valuation

8.2. Some Features of Common and Preferred Stock

8.3. Stock Markets

                    Lecture Notes       Q&P        Test Questions

 

LITERATURE

1. Fundamentals of Corporate Finance, Ross, S. A. 2010.

2. Principles of Corporate Finance, Brealey, Myers, 2010.

3. Financial Management, Ray M. Brooks. 2010.

4. Capital Markets, Fabozzi Modigliani. 2010 .

Textbook materials (access can be granted individually)   Ch1   Ch2   Ch3   Ch4   Ch5   Ch6   Ch7   Ch8   Ch9  Ch10

Nr.

S.D.

Data

Fact

Time

Room

Chapter

1

Fr

5-Sep

 

10:00-11:30

803

Introduction to the Course.Introduction to CorporateFinance

2

Fr

5-Sep

 

12:00-13:30

803

Introduction to CorporateFinance. The preparation to thetest

3

Fr

12-Sep

 

10:00-11:30

803

Financial Statements and CashFlow

4

Fr

12-Sep

 

12:00-13:30

803

Financial Statements and CashFlow. The preparation to the test

5

Fr

19-Sep

 

10:00-11:30

803

Working With FinancialStatements

6

Fr

19-Sep

 

12:00-13:30

803

Working With FinancialStatements

7

Fr

26-Sep

 

10:00-11:30

EC

Test #1 (Ch1-2)

8

Fr

26-Sep

 

12:00-13:30

803

Working With FinancialStatements.Long-term FinancialPlanning and Growth

9

Fr

3-Oct

 

10:00-11:30

803

Working With FinancialStatements. Practice and thepreparation to the test.Long-termFinancial Planning and Growth

10

Fr

3-Oct

 

12:00-13:30

803

Long-term Financial Planningand Growth. Practice and thepreparation to the test

11

Fr

10-Oct

 

10:00-11:30

803

 

12

Fr

10-Oct

 

12:00-13:30

803

 

13

Fr

17-Oct

 

10:00-11:30

803

Long-term Financial Planningand Growth. Preparation to thetest. The Time Value of Money

14

Fr

17-Oct

 

12:00-13:30

803

The Time Value of MoneyDiscounted Cash Flow Valuation

15

Fr

24-Oct

 

10:00-11:30

EC

Test #2 (Ch3-4) ok

16

Fr

24-Oct

 

12:00-13:30

803

The Time Value of MoneyDiscounted Cash Flow Valuation

17

Fr

31-Oct

 

10:00-11:30

803

The Time Value of MoneyDiscounted Cash Flow Valuation

18

Fr

31-Oct

 

12:00-13:30

803

Discounted Cash FlowValuation.  Practice and thepreparation to the test

19

Fr

7-Nov

 

10:00-11:30

EC

Test #3 (Ch5-6) ok

20

Fr

7-Nov

 

12:00-13:30

803

Interest Rates and BondValuation.

21

Fr

14-Nov

 

10:00-11:30

803

Interest Rates and BondValuation. Practice and thepreparation to the test. StockValuation.

22

Fr

14-Nov

 

12:00-13:30

803

Stock Valuation. Practice and thepreparation to the test.

23

Fr

21-Nov

 

10:00-11:30

803

Stock Valuation. Practice and thepreparation to the test.

24

Fr

21-Nov

 

10:00-11:30

803

Stock Valuation. Practice and thepreparation to the test.

25

Fr

28-Nov

 

10:00-11:31

EC

Test #4 (Ch7-8) ok

26

Fr

5-Dec

 

10:00-11:32

EC

Exam ok


 

 

 

 

 

 

EVALUATION

Assessment requirements:

Analysis and solutions of tasks and problems at seminars, attendance of lectures and practical classes, interim tests, examination.

Final assessment criteria:

The grade assigned for problem solution at seminars is multiplied by 10%.

Where a student has missed not more than 25% of the total lectures and practical classes (seminars), 1 point or 10% are added to the final grade.

Colloquium tests shall be taken by electronic means at the Examination centre. Students are required to solve not less than 50% of all tasks presented in four tests. Where the grade for the colloquium is above 4, it is multiplied by 20% and shall be added to the final result. It is necessary to pass all 4 tests. Students who during semester have passed all tests and have accumulated positive assessment may be absent exam.

Composition of the final accumulative grade:

The final accumulative grade shall be composed of: 

Problem solutions at seminars and lectures – 10 %

Attendance of lectures and practical classes – 10%

Grade from colloquium 1 – 20%  (CH 1-2) (Sept-26)

Grade from colloquium 2 – 20%   (CH 3-4) (Oct-17)

Grade from colloquium 3 – 20%   (CH 5-6) (Oct -31)

Grade from colloquium 4 – 20%   (CH 7-8) (Nov -21)

Exam   Nov -28

 

 

        TEST RESULTS

  



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