CORPFIN 7101 - Managerial Finance

North Terrace Campus - Trimester 1 - 2022

This course introduces you to the world of modern finance, with a focus on understanding how important financial decisions are determined within the firm. It covers the concepts of time value of money, asset valuation, the risk and return paradigm, capital budgeting and payout decisions. Upon completion, students will be able to value bonds and stocks, estimate asset returns according to their risk characteristics, and choose projects that maximize shareholder's wealth using a wide range of analytical tools. They will also develop a good understanding on how firms finance their capital expenditure on their investment and how payout levels are determined.

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Course Details

Course Code	CORPFIN 7101
Course	Managerial Finance
Coordinating Unit	Management
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Up to 3 hours per week
Available for Study Abroad and Exchange	Y
Restrictions	Available for Graduate Certificate, Graduate Diploma in Business Administration and Masters of Business Administration, Master of Business Administration (12) students

Course Staff

Course Coordinator: Mr Barry Burgan

Course Timetable

The full timetable of all activities for this course can be accessed from .

Course Learning Outcomes

1. Understand and apply the concepts of discounting and compounding in the financial environment.
2. Understand and apply the role of risk and return in pricing investments
3. Understand how various capital budgeting techniques can be used to evaluate investment projects.
4. Understand and determine the required return of different sources of finance used in capital budgeting decisions.
5. Comprehend the impact that leverage and capital structure has on firm value.
6. The ability to select, measure and justify an appropriate capital budgeting model to evaluate an investment project.

最新糖心Vlog Graduate Attribute	Course Learning Outcome(s)
Attribute 1: Deep discipline knowledge and intellectual breadth Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.	1 - 6
Attribute 2: Creative and critical thinking, and problem solving Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.	1 - 6
Attribute 3: Teamwork and communication skills Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.	6
Attribute 4: Professionalism and leadership readiness Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.	6
Attribute 5: Intercultural and ethical competency Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.	1 - 6
Attribute 7: Digital capabilities Graduates are well prepared for living, learning and working in a digital society.	1 - 6
Attribute 8: Self-awareness and emotional intelligence Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.	6

Learning & Teaching Modes

In this course a mix of learning methods, including topic presentations, interactive discussion, the solving of assigned questions and problems on a weekly basis, and sharing of business experiences and observation is used.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

Weekly classes are 3 hours long. Students should allocate up to eight hours per week of study time to do appropriate readings, solving set questions, problems, and assignments in addition to attendance at scheduled class sessions.

Learning Activities Summary

Topic	Topic Detail	Textbook Chapter
1	Introduction: Issues in Corporate Finance - scope and activities of corporate finance, role of the corporate finance manager, key goal of financial management, the agency problem, and relationships with financial markets	R, W & J, 11th ed., Chapter 1
2	Valuation Principles:- introduction to time value of money, present values; single and multiple cash flows	R, W & J, 11th ed. Chapters 5 & 6
3	Bond Valuation – interest rates, introduction to bonds, valuation of bonds Share Valuation – alternative valuation models	R, W & J, 11th ed., Chapters 7 & 8
4	Valuation and the Firm – NPV, IRR and other investment rules: various capital budgeting criteria, application of criteria to investment proposals, advantages and disadvantages of each criteria, determination of relevant cash flows for investment analysis, effects of corporate taxes on cash flows.	R, W & J, 11th ed., Chapter 9
5	Capital Budgeting and Analysis: applying NPV and IRR to different investment proposals; analysis of results	R, W & J, 11th ed., Chapters 10 & 11
6	Risk and Return - measurement of historical returns on assets and portfolios; lessons from history; capital market efficiency; expected return on assets and portfolios; diversification and risk; systematic and unsystematic risk; Security Market Line and the Capital Asset Pricing Model.	R. W & J, 11th ed., Chapters 12 & 13
7	Cost of Capital - cost of equity capital, cost of preference share capital, cost of debt capital; weighted average cost of capital (WACC) and investment decisions; divisional and project required returns.	R, W & J, 11th ed., Chapter 14
8	Capital Structure and Leverage - types of long term capital, Modigliani and Miller capital structure propositions, effects of corporate taxes, effects of financial distress, optimal capital structure and practical financing decision making	R, W & J, 11th ed., Chapter 16
9	Dividend Policy- dividend payments; relevance of dividend policy; low payout ratio versus high payout ratio; alternative theories; dividend imputation; bonus issues and share splits	R, W & J, 11th ed., Chapter 17

The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Weighting	Learning Outcome
Assignment 1	15%
Assignment 2	25%
Final Exam (2 hour exam)	60%
Total	100%

For specific dates please see MyUni.

Assessment Detail

Assignments
Two assignments are required to be completed on an individual basis and submitted at the relevant class.

Final Exam
There will be a 2.0 hour open book exam. Students are permitted to bring a financial calculator, a tablet or other device with a financial calculator app installed to the exam. You can bring in a laptop only to use an Excel spread sheet, but for no other purpose (the spreadsheet must be blank at the start of the exam).

Students need to attain an average of fifty percent (50%) across all the individually assessed items, considered as a whole, in order to pass the course.

For information on the 最新糖心Vlog’s Assessment for Coursework Programs Policy refer to: www.adelaide.edu.au/policies/700/

Submission

Presentation of Assignments:
The preferred format for submission of assignments is email. Assignment s should be submitted to Professor Fred McDougall (fred.mcdougall@adelaide.edu.au). Please retain a copy of all assignments submitted. Please attach an ‘Assignment Cover Sheet’, which is signed and dated by you before submission. Alternatively state in your email submission of the assignment that the work is wholly your own work, you have not colluded with nor plagiarised another student’s work.

Lecturers can refuse to accept assignments which do not have a signed acknowledgement of the 最新糖心Vlog’s policy on plagiarism.

Late Assignment Submission
Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date. Each request will be assessed on its merits. A late assignment (without prior arrangement) will be penalised by a 5% mark reduction for each day that it is late.

Return of Assignments
Assignments will be returned a week after submission

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

Student Feedback

The 最新糖心Vlog places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

The 最新糖心Vlog of Adelaide is committed to regular reviews of the courses and programs it offers to students. The 最新糖心Vlog of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

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