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FACULTAD DE DERECHO Y CIENCIAS ECONÓMICA. 2017/18 Year

TEACHING GUIDE

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INFORMACIÓN SOBRE TITULACIONESDE LA UNIVERSIDAD DE CÓRDOBA

uco.es/gradosDIRECCIÓN FINANCIERA PAGE 1/5 2017/18 Year

DETAILS OF THE SUBJECT

Title (of the subject): DIRECCIÓN FINANCIERA

Code: 100117

Degree/Master: GRADO DE ADMINISTRACIÓN Y DIRECCIÓN DE EMPRESAS Year: 3

Name of the module to which it belongs:

Field: CONTABILIDAD Y FINANZAS

Character: OBLIGATORIA Duration: FIRST TERM

ECTS Credits: 6 Classroom hours: 60

Face-to-face classroom percentage: 40% Non-contact hours: 90

Online platform:

TEACHER INFORMATION

Name: GUERRERO BAENA, MARÍA DOLORES (Coordinador)

Faculty: FACULTAD DE DERECHO Y DE CC. EE. Y EMPRESARIALES

Department: ECONOMÍA, SOCIOLOGÍA Y POLITICA AGRARIAS

Area: ECONOMÍA FINANCIERA Y CONTABILIDAD

Office location: FACULTAD DE DERECHO Y CC. EE. Y EMPRESARIALES. Despacho 0.23

E-Mail: [email protected] Phone: 957212205

URL web: http://www.uco.es/dptos/economia-agraria/

Name: CAVA JIMENEZ, JOSE ANTONIO







Name: MILLÁN DE LA LASTRA, JOSÉ RAMÓN







REQUIREMENTS AND RECOMMENDATIONS

Prerequisites established in the study plan

None.

Recommendations

Students are advised to have passed the course "Introducción a las finanzas" and have at least a basic knowledge of Excel or Calc.

SKILLS

C92 To solve problems of financial valuation, both financial decisions and business investment (rel. CB1, CB2, CB3, CB4, CB5, CE1, CE 4,

CE7).

C45 To know the mechanism of stock and money markets (rel. CB1, CE7).


TEACHING GUIDE




OBJECTIVES

The objective of the course is to provide the student with the framework necessary to understand the problems a financial manager may face. At the

end of the course, students should be able to assess the different funding sources available to companies and should be able to carry out both

long-term and short-term financial planning. The student will learn to perform investment project analysis under uncertainty, he/she will understand the

concept of some financial products such as options and futures and will know the different company valuation methods.

CONTENT

1. Theory contents

Lesson 1: FINANCE AND THE FINANCIAL MANAGER: 1. The role of the financial manager. 2. Who is the financial manager. 3. Separation of ownership

and control. 4. Goals and governance of the firm.

Lesson 2: THE WEIGHTED AVERAGE COST OF CAPITAL: 1. Why calculate the cost of capital. 2. An approach to calculate the cost of capital. 3. The cost

of external funding sources. 4. The cost of internal funding sources. 5. How to calculate the WACC.

Lesson 3: CORPORATE FINANCING: 1. External funding sources. 2. Capital instruments (I): Stocks. 3. Capital instruments (II): Venture capital. 4. Capital

instruments (III): Capital markets. 5. Corporate debt. 6. Mutual guarantee societies. 7. Debt policy. 8. Corporate restructuring.

Lesson 4: LONG-TERM FINANCIAL PLANNING: 1. What is financial planning?. 2. Financial planning models. 3. External financing and growth.

Lesson 5: SHORT-TERM FINANCIAL PLANNING AND WORKING CAPITAL MANAGEMENT: 1. Links between long-term and short-term financing. 2.

Working capital. 3. Tracing changes in cash and working capital. 4. Cash budgeting. 5. A short-term financing plan. 6. The cost of bank loans. 7.

Accounts receivable and credit policy. 8. Inventory management. 9. Cash management.

Lesson 6: PROJECT ANALYSIS UNDER UNCERTAINTY: 1. The capital investment process. 2. Sensitivity analysis. 3. Monte Carlo simulation. 4. Real

options and decision trees.

Lesson 7: OPTIONS AND FUTURES: 1. Calls and puts. 2. What determines option values?. 3. Spotting the option. 4. How to reduce risk with options. 5.

Future contracts.

Lesson 8: COMPANY VALUATION METHODS: 1. Methods based on the equity. 2. Methods based on profits and dividends. 3. Methods based on goodwill.

4. Methods based on discounted cash flow.

2. Practical contents

Given the practical nature of this course, practical classes constitute a fundamental complement to theoretical classes. These sessions are intended to

enable students to deepen and consolidate the acquired knowledge in theoretical classes. They will try to simulate those situations students will face in

their future professional life.

Practical sessions will rely on cases and exercises elaborated and reviewed by teachers and complemented by exercises contained in the proposed

practice manuals. These sessions are preferable in the computer room and their scheduling will be announced to students by teachers in advance.

METHODOLOGY

General clarifications on the methodology. (optional)

This is not a monolingual but a bilingual course. Therefore, both, English and Spanish languages shall be used during the classes for theoretical and

practical activities.

The 60 classroom hours are divided as follows:


TEACHING GUIDE




a) Theoretical classes (45 classroom hours): These classes will largely consist of master classes, whose main contents will be included in power-point presentations

previously put at the disposal of the students on Moodle platform. Along with the teachers' explanation, theoretical sessions will also include other activities involving

students' performances in English, such as solving of problems and exercises. In addition, an intense use of media resources in English, specially that of videos, will be

made during theoretical classes.

b) Practical sessions (15 classroom hours): In these classes, students will be asked to solve problems and exercises in the computer room using a spreadsheet.

Methodological adaptations for part-time students and students with disabilities and special educational needs

Teachers will take into account the availability and situation of part-time students. Their adaptation to the subject will be held by mutual agreement

between teachers and involved students at the beginning of the semester.

Evaluation criteria will ensure equal rights and opportunities for all students.

Face-to-face activities

Activity Large group Medium group Total

Assessment activities 3 - 3

Case study 13 15 28

Conference 2 - 2

Lectures 27 - 27

Total hours: 45 15 60

Not on-site activities

Activity Total

Bibliographic consultations 10

Exercises 20

Finding information 5

Problems 15

Self-study 40

Total hours: 90

WORK MATERIALS FOR STUDENTS

Practical cases and examples

Exercises and problems

Manual of the subject

PowerPoint presentations

Bibliographic references

EVALUATION

Skills

Tools

Multiple choice

exam

Practical cases and

examples Problem solving

C45 x x x

C92 x x x

Total (100%) 30% 50% 20%

Minimum grade.(*) 4 4 4

(*) Minimum grade necessary to pass the subject

¿Valora la asistencia?: No


TEACHING GUIDE




General clarifications on instruments for evaluation:

1. At the end of each lesson, teachers will propose to the students the resolution of a series of problems using a spreadsheet. Students must deliver

them as a practice (Problem solving). The average mark of the problems will constitute 20% of the final mark of the subject.

2. The theoretical part of the course will be assessed by a multiple choice exam.

3. The practical part of the course (practical cases and examples) will be marked in the exam of the corresponding call and will consist on the

resolution of one or more problems or case studies.

4. To pass the course, it will be needed to obtain: an average score of at least 4 in practical cases and problems; a minimum score of at least 4 on the

multiple-choice test; a minimum score of at least 4 in problem solving.

5. The previous criteria (point 4) will be maintained for the two ordinary calls. In September call, the rating is based solely on the practical cases and

problems and multiple choice exam (with a minimum rating in each part of 4).

6. In the event that a student does not meet criteria outlined above, his/her score will be SUSPENSO.

7. Students who fail the subject in the first ordinary call, they will keep the passed part (being it theory or practice) until the second ordinary call. In

September, they will be examined of all contents (theory and practice).

Clarifications on the methodology for part-time students and students with disabilities and special educational needs:

Part-time students may choose to do just the exam (multiple choice exam and practical cases and problems). In that case, the mark will constitute the

100% of the final score.

Qualifying criteria for obtaining honors: Las matrículas de honor disponibles (1 por cada 20 alumnos) serán otorgadas a los alumnos con calificación de

SOBRESALIENTE que obtengan las mejores calificaciones finales.

¿Hay examenes/pruebas parciales?: No

BIBLIOGRAPHY

1. Basic Bibliography:

BREALEY, R.A.; MYERS, S.C. y MARCUS, A.J. (2007) Fundamentos de finanzas corporativas. McGraw-Hill, Madrid, 5ª edición.

BREALEY, R.A.; MYERS, S.C. y MARCUS, A.J. (2015) Fundamentals of Corporate Finance. McGraw-Hill, New York, 8th edition.

BREALEY, R.A.; MYERS, S.C. y ALLEN, F. (2015) Principios de finanzas corporativas. McGraw-Hill, Madrid, 11ª edición.

BREALEY, R.A.; MYERS, S.C. (2014) Principles of Corporate Finance. McGraw-Hill, Boston, 11th edition.

2. Further reading:

AGUIAR, I. (Coord.) (2012) Finanzas corporativas en la práctica. Delta, Madrid, 3ª edición.

GONZÁLEZ GARAGORRI, I. (2014) Dirección Financiera. Centro de Estudios Financieros, Madrid.

MARTÍNEZ ABASCAL, E. (2012) Finanzas para directivos. Mc-Graw Hill, Madrid, 2ª edición.

MASCAREÑAS, J. (2010) Finanzas para directivos. Pearson, Madrid.

PINDADO GARCIA. J. (2012) Finanzas empresariales. Paraninfo, Madrid.


TEACHING GUIDE




ROSS, S.A.; WESTERFIELD, R.W. y JORDAN, B.D. (2010) Fundamentos de finanzas corporativas. McGraw-Hill, Madrid, 9ª edición.

COORDINATION CRITERIA

- Common evaluation criteria

- Delivery date job

- Joint activities: lectures, seminars, visits ...

- Performing activities

SCHEDULE

Period

Activity

Assessment

activities Case study Conference Lectures

1# Fortnight 0 2 0 6








Total hours: 3 28 2 27

The methodological strategies and the evaluation system contemplated in this Teaching Guide will be adaptedaccording to the needs presented by students with disabilities and special educational needs in the cases that arerequired.

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