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Managerial Finance

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Delaware State University – College of Business
Department of Accounting, Economics and Finance

Managerial Finance (43-300-02 - CRN#17392) Spring 2014

Place & Time Bank of America Building, Room 208 T&TH 12:00 – 1:15p.m. Instructor: Nancy Ning, PhD
Office: Bank of America Building, Room 212F
Office Hours: T&TH 11:00 – 11:50 a.m., 2:50 – 4:00 p.m.; W 1:00 – 3:00 p.m. and by appointment
Email: zning@desu.edu
Phone: 857-6966 REQUIRED MATERIALS:

1. Principles of Managerial Finance, Brief (6th ed.), plus MyFinanceLab, by Lawrence Gitman & Chad Zutter, Pearson/Prentice Hall, 2011. ISBN-10: 013611945X or ISBN-13: 978-0136119456. 2. Financial calculator: the Texas Instruments’ TI BAII PLUS is recommended. The link http://www.tvmcalcs.com/calculators/baiiplus/baiiplus_page1 gives a tutorial for the use of the calculator.

PREREQUISITES:

The following courses must have been completed previously with a grade of C or better: ACCT-205 and ECON-208. Students who have not met these prerequisites must drop this course.

COURSE DESCRIPTION:

The concepts developed in this course form the foundations for the area of finance. Major topics may include time value of money, valuation of stocks and bonds, risk and return, capital budgeting techniques, financial ratio analysis, capital structure and dividend policy.

COURSE OBJECTIVES:

1. Develop an understanding of the important concept of time value of money, and apply the concept to value the stock and bonds, and investment projects (valuation). 2. Understand the basic process involved in how firms raise long-term funds, i.e., stocks and bonds, for their real investments (financing). 3. Evaluate how the cost of capital is determined.

CORE COMPETENCIES:

1. Critical Thinking and Problem Solving – students will analyze and evaluate a multitude of financial concepts and theories (see course schedule below), generally presented in problem format, to evaluate appropriate pricing and earnings, taxes, and the like. Critical skills are covered through written tests and interactive learning experiences. 2. Global, Cultural and Diversity Understanding– students will discuss cultural differences in conducting business, global financial markets to better understand domestic financial markets and global culture and diversity. 3. Information Literacy and Technology – Students will complete homework assignments and quizzes online using MyFinanceLab for course materials and information. They will use business function calculators for financial calculations. EXAMS: There will be three exams given, two during the semester and a comprehensive final exam. Each exam will consist of a multiple-choice portion, a written (essay) portion, or a problem solving portion. Exams will be closed book and closed notes. A formula sheet will be provided.

The exams test the understanding of the key concepts in the class. Most of the exam questions will be based on the class examples, homework problems, and the quizzes.

When taking exams, you will be allowed only the exam paper, the calculator, a SCANTRON, and Number 2 pencils. You may not use any electronic devices during the exam; this includes, but is not limited to cell phones, PDAs, pagers, and ipods.

MAKE-UP EXAMS POLICY:

No make-up exams are given.

If you cannot be present at an exam for a valid reason, please discuss your situation with me BEFORE the exam. The appropriate document(s) must be provided. If you miss the exam for a legitimate reason, your final exam will count twice. For example, if you get 140 points out of 200 (70%) in the comprehensive final exam, then the missed mid-term exam will be assigned a grade of 70 points, which is 100 points times70%, and etc.

You must inform me in writing or email that you wish to make the final exam count twice within 2 days after the missed exam. Failure to do so will result in a zero for the missed exam. If you miss a second exam, you will receive a zero for the second missed exam. A student will receive an F for the course if they miss the final exam and are failing the course at the time of the final exam.

MYFINANCELAB ONLINE HOMEWORK & QUIZ POLICY:

Homework and quizzes are posted on MyFinanceLab. You have unlimited attempts to complete each homework, and only one attempt to complete each quiz.

Computer break-down (or loss of connection) is not a reason that you cannot complete the MyFinanceLab assignments on time. It is your responsibility to make sure that you have a computer with proper functioning. The lowest grades for the homework & quizzes will be dropped.
BLACKBOARD ASSIGNMENTS POLICY:

The other assignments must to be submitted through Blackboard. A 10% per day penalty will be applied to LATE assignments. After one week, the assignment will be counted as a zero.

In order for your assignments to be graded for the credits, you MUST turn them in on the Blackboard. Your grade with my comments will be posted over there.

Please keep in mind: DO NOT email me your assignment, which will not be graded & you will receive zero points for that assignment.

ATTENDANCE & PARTICIPATION:

The course materials are closely interrelated. Therefore, it will be expected that you attend all classes, and read the appropriate chapters before the class.

Missed in-class assignments cannot be made-up. However, two of their grades will be dropped for the semester.

Students are expected to show respect to their classmates and to the instructor by exhibiting appropriate classroom behavior. The disruptive class activities include: coming to class late, leaving class early, excessive talking with other students, or sleeping, etc. All cell phones should be turned off during class. Failure to meet the above expectations will be reflected in your grade.

ACADEMIC INTEGRITY:

Academic honesty is expected inside and outside of this class. Please refer to the back of your student handbook for a detailed description of academic misconduct. Any student caught engaging in academic dishonesty (cheating) will receive a zero on the assignment or test in question. Major infractions will result in an academic sanction of F for the course.

Cheating includes, but is not limited to, the following: using unauthorized notes during a quiz or exam, looking or glancing at another student's paper during a quiz or exam, conversing with a student during an exam or quiz, copying from another student's work, plagiarism, etc. The incidents could be reported to the Office of Judicial Affairs.

STOCK PORTFOLIO ACTIVITY (80 points): The purpose of this activity is to track the fundamentals of two companies, and follow their stock prices and news stories over the semester. During the semester collect information regarding the company at least once a week. Our interest is in the news. Use the Wall Street Journal or other published sources in addition to the on-line services (such as http://finance.yahoo.com) to track news about your chosen firm. Track the price of each stock and the news releases associated with the underlying companies at least once a week. 1. Choose two publicly traded stocks. The stocks should be from different industries. Please turn in a sheet with the names of your companies, price of the stocks, and the total portfolio value by January 28, 2014. (see sample below) (10 Points) 2. Perform Financial Statements Analysis for one of your companies. You need to download the company’s financial statements from http://finance.yahoo.com. Calculate the financial ratios and compare these ratios to those of the same industry and competitors. Turn in a 2-3 page financial analysis report by March 6, 2014. (20 Points) 3. At the end of the semester, submit a 5-6 page report summarizing important news regarding the companies published during the semester. In tabular or in chart form show the performance of each stock and how your portfolio did every week. Compute the dollar return & rate of return on your portfolio. Report the beta of each stock (from published sources) and compute the beta of your portfolio. If the published news explain some of the price movement, please highlight that. Report is due by April 24, 2014. (50 Points)

Note: You must cite all the references properly in your writings, which will be submitted in the Blackboard’s SafeAssignment to check for plagiarism.

Student XYZ’s Stock Portfolio Pick on January 22, 2014 | Stock (ticker) | * Number of Shares | * Closing Price on Jan. 13, 2012 | * STOCK VALUE | * Tiffany (TIF) | * 100 | * $ 59.10 | * $ 5,910 | * Apple Inc. (AAPL) | * 10 | * $ 419.81 | * $ 4,198.10 | * Total Invested Value $ 10,108.10 |

STUDENTS WITH SPECIAL NEEDS:

If you are a student that needs special accommodations to facilitate learning, please inform me of this promptly who that we can work together from the beginning of the semester.

EVALUATION:

Midterm 1 (Feb.18, 2014): | | 100 points | Midterm 2 (March 27, 2014): | | 100 points | Final Exam (May 6, 2014): | | 200 points | Attendance & Participation | | 100 points | Homework | | 100 points (10 points each ×11 – The Lowest Score) | Quizzes | | 100 points (20 points each ×6 – The Lowest Score) | Beta Exercise | | 20 points (20 points each) | Stock Portfolio Activity | | 80 points | | Total | 800 points | Grades will be assigned to the following achievements: Letter Grade Points A > 720 B 640-720 C 560-640 D 480-560 F < 480

Note: The last day to drop the class is April 2, 2014, Wednesday.

Course Outline Note: The following course outline will be followed as closely as possible. Any necessary deviation will be announced in class.

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