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Dixie State College – Udvar-Hazy School of Business FIN3150 – Managerial Finance I
Instructor Kyle S. Wells, PhD Phone: 652- Email: kwells@dixie.edu Office: Udvar-Hazy 343 Office hours: MTWR 11:00-12:00 A.M. & by appointment Class Schedule: MWF, 10:00-10:50 A.M.
Pre-Requisites: ACCT 2020 (Managerial Accounting) ECON 2020 (Macro Economics) STAT 2040 (Business Statistics)
Required Materials
- Scott Besley and Eugene F. Brigham, 2008, Essentials of Managerial Finance , 14th^ edition.
- A financial calculator (see below).
Overview
The course is designed to explain the substantive parts of financial management. It is not an "investment" course, per se , although many of the skills taught can be used for financial investment purposes. The student will learn the theory of financial management and how to apply it in a business setting. This course is designed to create a financial “toolbox” which will be used in subsequent courses and in a career in business. The primary tool taught in this course is Time Value of Money (TVM). The underlying theme is the valuation of financial assets and business projects using TVM techniques. The course is intended to stimulate the interest in the field of finance as an area of further study and as an area of practice for a life-long career.
An underlying goal is to develop critical thinking so as to evaluate dispassionately the merits and demerits of different policies and projects and of techniques of financial management. This analytical ability can be developed by solving and discussing problems. We will work many problems in class.
I recommend that you regularly read the Wall Street Journal or similar publication to increase your understanding of business and finance. Several periodicals are available (and underutilized) in the library. I appreciate any questions you have related to this reading.
Course Objective
- Understand the financial environment.
- Know how to analyze financial statements (balance sheets and income statements).
- Know how to make time-value-of-money calculations.
- Know how to use a financial calculator.
- Know how to determine and assess the value of financial assets (securities, projects and businesses)
- Understand the concept of financial risk and its role in asset valuation and financial decision making.
- Know how to conduct capital budgeting analysis.
- Be exposed to ethics issues in finance.
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Attendance
You are not required to attend every class and I will not penalize you for absences. However, you are responsible for all material presented in class, regardless if you were present or not. This includes instructions on assignment format and turn-in procedures. If you miss class, I will be glad to tell you what material you may have missed but I will not re-teach it. Occasionally, extra credit is given in class for participation in post-test reviews and other discussions. Missing class on these days may affect you final grade.
Homework:
You will have several homework problem assignments to help develop your analytical abilities and to increase your understanding of finance. You may work together with other students on these assignments, but all assignments must be submitted on an individual basis. Each assignment must be submitted at the beginning of class on the day it is due. You may receive less than full credit for late assignments. Your homework will be graded on a completion basis only. You will receive full credit for attempting to complete all of the problems (and you turned the assignment in on time) regardless of whether your answers are correct. To receive credit for any problem, you must show all necessary equations and steps, as applicable.
Additionally, you will have two homework projects which will be due as indicated on the course schedule. Instructions for these projects will be posted on the course website. I will discuss these instructions in detail in class shortly after we cover the relevant material. I encourage you to work in groups of no more than three; however, you may work individually on these projects. Further details concerning these assignments will be announced in class.
Examinations:
There will be three closed-book exams. You may use a calculator during these exams. Additional materials such a student produced 5" x 8" note card may also be used. Full credit will be awarded for all correct answers and partial credit will be awarded as deemed appropriate by your instructor.
Course Grade Computation: Your course grade is based on a point system. The point allocation for exams and homework is:
Points Participation 5/ Homework Problems
Homework Projects
Test 1 20 Test 2 20 Test 3 20 Total Possible 105/
Points Grade
93 A 90 to 92.9 A- 87 to 89.9 B+ 83 to 86.9 B 80 to 82.9 B- 77 to 79.9 C+ 73 to 76.9 C 70 to 72.9 C- <70 D
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(SSC, room 201, 652-7516) to make arrangements for accommodations. All written information in this course can be made available in an alternative format with prior notification to the Disability Resource Center.
Approximate Schedule
Week Topics Approx. Due Dates 1 Intro Chapter 1: Overview of Managerial Finance Chapter 2: Analysis of Financial Statements HW 1 Due 3 Chapter 2: continued 4 Chapter 3: Financial Markets HW 2 Due 5 Chapter 4: Time Value of Money Project 1 Due 6 Chapter 4: continued Test Review & Test 7 Chapter 4: continued 8 Chapter 6: Bond Valuation HW 3 Due 9 Chapter 6: continued 10 Test Review & Test # 11 Chapter 9: Capital Budgeting HW 4 Due 12 Chapter 9: continued 13 Chapter 5: The Cost of Money 14 Chapter 5: continued HW 5 Due 15 Chapter 8: Risk and Rates of Return HW 6 Due 16 Test Review Project 2 Due 17 Finals Week
The Northwestern Mutual Investment Challenge
As an ancillary to this course, you may participate in an online investment game. The rules of the game will be discussed in class and are presented on the website. You are not required to play, you will not be penalized for not participating and grade points are not awarded to those choosing to participate. At the end of the semester, those who accumulated the highest returns will be rewarded by Northwestern Mutual Insurance. The number of winners and the size of the reward are determined solely by the sponsors.
I have found that this game adds dimension to the course and exposes students to trading in financial markets; however, due to the element of luck, participation is not required. The following is the URL, game name and password required to enter the game. You will also be required to register with your own personal user email and password. I suggest using an email that you don’t mind being used and sold to third parties. Occasionally this may happen although privacy policies are included on the website.
http://vse.marketwatch.com/Game/Homepage.aspx GAME NAME: FIN_f PW: hedge
