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Do you want to improve your financial literacy?
Do you want to understand the basic finance terms like Compounding Interest, Time Value of Money, Net Present Value and Modern Portfolio Theory?
Do you want a class where you do the problems with the professor?
This is the English-immersion "Corporate Finance" course created by SEIB, Guangdong University of Foreign Studies!
We will help you get a strong foundation for Compounding Interest, the Time Value of Money. We will create a loan amortization schedule together as well!
You will learn how to use Excel Sheets to calculate the Net Present Value of capital projects.
We are going to learn:
Models for calculation of cost of common stock, cost of preferred stock and cost of debt;
Calculation of weighted average cost of capital and its use in investment appraisal techniques such as net present value, internal rate of return, profitability index, payback period, etc.;
Accounting for risk in investment appraisal techniques using sensitivity analysis, scenario analysis, etc.;
Decision about whether to declare a dividend or whether reinvest the money in business;
Working capital management: management of inventories, receivables and cash;
Calculation of investment performance valuation parameters such as ROI, ROE, etc.
Financial risk management using derivatives and other techniques.
Corporate finance managers are one of the most common users of financial information and they need to coordinate with other functions of the business such as production, marketing, administration, etc, and any business manager must have some financial knowledge. Let's start the fun journey of learning corporate finance!
Goal One
Understand regulatory and professional standards and apply appropriately.
Objectives
Our students will be able to:
1.1 Identify the relevant authoritative guidance needed to address a business case or situation.
1.2 Interpret the guidance and apply it appropriately to the case.
Goal Two
Solve business problems analytically and make well-informed decisions taking into consideration global and ethical dimensions.
Objectives
2.1 Interpret relevant issues in a business case.
2.2 Analyze the data.
2.3 Evaluate alternative solutions.
2.4 Recommend a solution.
2.5 Support recommended solution.
Goal Three
Communicate professionally.
Objectives
3.1 Prepare professional written documents about business topics.
3.2 Produce a professional presentation about a business topic.
Goal Four
Effectively use technology to conduct research, to collect and analyze data, and/or to communicate.
On completion of this course , students should be able to:
1. Distinguish between limited and unlimited liability, and list firm types that are subject to each type of liability.
2. List, define and explain the three major financial statements produced by public companies.
3. Compute and explain the financial ratios, and use Dupont identity to analyze the financial performance of a corporation.
4. Compute and explain the main techniques using in TVM, and use them to calculate NPV, IRR.
5. Describe the relation between nominal and real rates of interest, and explain how to choose the appropriate discount rate.
6. Calculate the yield to maturity, duration for both coupon and zero-coupon bonds, and interpret their meaning for each.
7. Understand the system of Capital Budgeting.
8. Compute and explain the pricing model of bond and stock.
9. Understand the portfolio selection theories, especially the CAPM.
10. Estimate the Cost of Capital.
11. Define financial leverage and describe he capital structure that the firm should choose.
12. Apply the techniques and theories into practice (Case studies).
Chapter 1 Introduction to Corporate Finance
1.2 Financial Performance Metrics
1.6 Income and Revenue Analysis
1.3 Operating Activity Analysis
1.5 Analysis of Return
1.1 Overview of Financial Statements
1.4 EPS and Dividend
Test -Financial Analysis
Chapter 2 How to Calculate Present Values
2.2 Interest Quotation(compound-simple; EAR-APR)
2.1 Future Values and Present Values
Chapter 4 The Value of Common Stocks
4.1 Stock Valuation
4.3 Valuation：FCF approach
4.2 Valuation：market approach
Test 3-Common Stocks
Chapter 3 Valuing Bonds
3.2 Macaulay Duration
3.1 Bond Valuation
3.3 Modified Duration
Test 2-Bonds
Chapter 5 Net Present Value and Other Investment Criteria
5.4 Free Cash Flow
5.3 MIRR
Test 4-Investment Decision
5.2 Payback
5.1 NPV and IRR
Chapter 6 Making Investment Decisions with the Net Present Value Rule
6.2 Profitability Index (PI)
Test 5-Investment Decisions other issue
6.3 Lease or Buy？
6.1 EAC
Chapter 7 Introduction to Risk and Return
7.2 Managing Financial Risks
7.1 Introduction of Risk
7.3 Interest Rate Risk Management
Test 6 -Risk and Return
Chapter 8 Portfolio Theory and the Capital Asset Pricing Model
Test 7-CAPM
8.1 The Relationship between Risk and Return
8.2 Capital Asset Pricing Model
Chapter 9 Risk and the Cost of Capital
9.1 Measuring the cost of capital
9.3 Cost of Debt
9.2 Cost of Equity
Test 8-COC
Chapter 10 Project Analysis
10.2 Sensitivity Analysis
10.3 Monte Carlo Simulation
10.1 The Capital Investment Process
10.4 Real Options and Decision Trees
Chapter 11 An Overview of Corporate Financing
11.1 Debt Finance
11.2 Equity Finance
11.3 Financial Market and Intermediaries
Chapter 12 Payout Policy
12.2 Dividend Irrelevance Theory
12.1 Payout Policy
Chapter 13 Does Debt Policy Matter?
13.3 Project WACC-Roman Case
13.2 Weighted Average Cost of Capital (WACC)
13.1 MM’s Propositions
Basic Accounting
Textbook
Principles of Corporate Finance，12th Edition，Richard Brealey；Stewart Myers；Alan Marcus. International Edition: McGraw-Hill Higher Education. 2016.
Reference Materials
Readings from the Journal of Corporate Finance and Journal of Business are available to download from the University Library's Portia portal by selecting Business/Journals or by searching for the journal's title in the Serials section of the catalogue. Off-campus access to most journals can be achieved by obtaining an VPN account name and password from the library. Other items will be made available at relevant lectures.
Professor
