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FINANCIAL MANGEMENT (IBS at Vilnius University 3'rd year International Business Group and Business and Politics in Central and Eastern Europe Group)

 

 

VILNIUS UNIVERSITY

INTERNATIONAL BUSINESS SCHOOL

 

Dear students, I want to remind you that on October 20, the test starts at 10 am.

FUNDAMENTALS OF CORPORATE FINANCE

 

Prepared by prof. dr. Arvydas Paðkevièius

The course Fundamentals 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 Fundamentals 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

Notes

1

Pr

2014-09-01

 

9:00-10:30

213

 

 

2

Pr

2014-09-01

 

11:00-12:30

213

 

 

3

Pr

2014-09-08

 

9:00-10:30

213

Introduction to the Course.Introduction to Corporate Finance

 

4

Pr

2014-09-08

 

11:00-12:30

213

Introduction to Corporate Finance.The preparation to the test

 

5

Pr

2014-09-15

 

9:00-10:30

213

Financial Statements and Cash Flow

 

6

Pr

2014-09-15

 

11:00-12:30

213

Financial Statements and CashFlow. The preparation to the test

 

7

Pr

2014-09-22

 

9:00-10:30

213

Financial Statements and CashFlow. The preparation to the test

 

8

Pr

2014-09-22

 

11:00-12:30

213

Working With Financial Statements

 

9

Pr

2014-09-29

 

9:00-10:30

EC

Test #1 (Ch1-2)

 

10

Pr

2014-09-29

 

11:00-12:30

213

Working With Financial Statements

 

11

Pr

2014-10-06

 

9:00-10:30

213

Working With Financial Statements.Practice and the preparation to thetest

 

12

Pr

2014-10-06

 

11:00-12:30

213

Working With Financial Statements.Practice and the preparation to thetest. Long-term Financial Planningand Growth

 

13

Pr

2014-10-13

 

9:00-10:30

213

Long-term Financial Planning andGrowth

 

14

Pr

2014-10-13

 

11:00-12:30

213

Long-term Financial Planning andGrowth. Practice and theprteparation to the test

 

15

Pr

2014-10-20

 

9:00-10:30

EC

Test #2 (Ch3-4)

 

16

Pr

2014-10-20

 

11:00-12:30

213

The Time Value of MoneyDiscounted Cash Flow Valuation

 

17

Pr

2014-10-27

 

9:00-10:30

213

Discounted Cash Flow Valuationpractice

 

18

Pr

2014-10-27

 

11:00-12:30

213

The Time Value of MoneyDiscounted Cash Flow Valuation

 

19

Pr

2014-11-03

 

9:00-10:30

213

Discounted Cash Flow Valuation. Practice and the preparation to thetest

 

20

Pr

2014-11-03

 

11:00-12:30

213

Interest Rates and Bond Valuation

 

21

Pr

2014-11-10

 

9:00-10:30

EC

Test #3 (Ch5-6)

 

22

Pr

2014-11-10

 

11:00-12:30

213

Interest Rates and Bond Valuation

 

23

Pr

2014-11-17

 

9:00-10:30

213

Interest Rates and Bond Valuation. Practice and the preparation to thetest

 

24

Pr

2014-11-17

 

11:00-12:30

213

Interest Rates and Bond Valuation.Practice and the preparation to thetest.

 

25

Pr

2014-11-24

 

11:00-12:30

213

Interest Rates and Bond Valuation.Practice and the preparation to thetest.

 

26

Pr

2014-11-24

 

11:00-12:30

213

Interest Rates and Bond Valuation.Practice and the preparation to thetest.

 

27

Pr

2014-12-01

 

9:00-10:31

EC

Test #4 (Ch7)

 

28

Pr

2014-12-08

 

9:00-10:32

EC

Exam

 


 

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%

Grade from colloquium 2 – 20%

Grade from colloquium 3 – 20%

Grade from colloquium 4 – 20%

 

 

        TEST RESULTS

  



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