Syllabus Finance 3101 Section 730 OBBA Fall 2019 090319 PDF

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Download Syllabus Finance 3101 Section 730 OBBA Fall 2019 090319 PDF

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Financial Management * subject to change at discretion of instructor

FIN 3101, Sec. 730 Instructor:

Dr. Howard Keen

Office Hours:

TBA

Office Location:

Alter 429

Contact Information:

[email protected] | (Office: 215.204.5990)

Day and Class Time:

Tuesdays, 7:00 – 7:55 PM

Fall 2019

Add/Drop/Withdraw: Add/Drop – Monday, 9/9 | Withdraw – Tuesday, 10/22

Course Description: This course provides a survey of the financial problems associated with the life cycle of a business firm. Topics include: financial analysis and planning, capital budgeting, cost of capital, and the sources and uses of business funds. While the emphasis is on decision making within a corporate environment, the tools taught in this course are just as relevant to other forms of business organization and to personal financial management. Prerequisites: Economics 1101 and 1102; Statistics 2101 or 2103 or 2104. Co-requisites: Accounting 2102 or 2521. Note: There are absolutely no exceptions to the foregoing prerequisites or co-requisite. Required Course Material: Choose any one of the three following listings according to your personal preference. Check Temple bookstores and Pearson online store for availability. (1) Raymond Brooks, Financial Management: Core Concepts Plus MyFinanceLab with Pearson eText -- Access Card Package, 4/E ISBN-10: 0134830164 ISBN-13: 9780134830162 (2) Raymond Brooks, Financial Management: Core Concepts, Student Value Edition Plus MyFinanceLab with Pearson eText -- Access Card Package, 4/E ISBN-10: 0134830229 ISBN-13: 9780134830223 (3) Raymond Brooks, Financial Management: Core Concepts MyLab Finance with Pearson eText -- Access Card, 4/E ISBN-10: 013473212X ISBN-13: 9780134732121

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Recommended: Wall Street Journal The WSJ is not required for this course but the Finance Department strongly suggests that you consider subscribing for the semester. The WSJ is the most widely-read business daily and in order to keep informed about happenings in business, you should familiarize yourself with this publication. The regular subscription rate for a full year is $344.91 but you can subscribe for 15 weeks for a total of $15.00 or for a full year for $49.00! This is a GIGANTIC discount of _____ %??? Your subscription can give you access to the Journal in three ways: hard copy of the Journal 6 days a week, WSJ Digital on laptop, smartphone and tablet and WSJ Young Professionals Network on Linkedln. To subscribe, go to https://r.wsj.com/PROFg9h3. Upon completion of your order, you will have access to WSJ Digital along with delivery of the print edition of the Journal in approximately 3 – 5 business days. Technology Requirements:    

Headphones Webcam Recommended Internet Speed: 8mbps download & 5mbps upload. You can test your connection at https://www.speedtest.net Please note: Hard-wired connections are more consistent than wifi for WebEx sessions

Program Objectives: P1:

Demonstrate business knowledge needed to make business decisions

P2:

Apply critical thinking to business problems

P3:

Apply quantitative reasoning skills to make recommendations and business decisions

P4:

Apply effective business communication techniques to business situations.

Access more information on the Learning Goals and Assurance of Learning here: https://www.fox.temple.edu/undergraduate-bba/learning-goals/ Course Objectives: Finance 3101 focuses on two of the four main learning goals of the Fox School’s BBA Program: (a) Understanding critical business concepts, and (b) Applying critical thinking to business problems. Specific learning objectives in pursuit of the two goals involve a basic understanding of the following: 1. Goal of corporate financial management 2. Factors determining stock prices 3. Time value of money 2

4. Determination of prices and yields on bonds 5. Concept and nature of risk 6. Determination of prices and yields on stocks 7. Structure and analysis of principal financial statements 8. Implications of a firm’s capital structure 9. Estimation of project cash flows 10. Derivation of a firm’s cost of capital 11. Use of Net Present Value (NPV) and Internal Rate of Return (IRR) in the capital budgeting process Method of Instruction: As part of the Fox School’s Online Academic Program Policy, this course follows the flipped classroom format. This format provides you with 24/7 on-demand access to content, assignments, and lectures and in the process, places the burden of learning completely on your shoulders. Being successful in this course puts a great deal of responsibility in your hands because doing well in the course requires you to largely learn on your own. If you want to do well in the course, you absolutely must studiously cover the material PRIOR TO OUR WEBEX CLASS SESSIONS as I will not be lecturing during those sessions as is done in the traditional face-toface classroom setting. You will, however, have access to the lectures from our on-campus sections in the form of Class-Capture videos. Our WebEx class sessions will be more like tutoring or instructor office hour sessions during which I will answer questions that you might have about the course material. In essence, our WebEx class sessions will provide you the opportunity to have your questions answered about the assigned material and the HW problems. Note, however, that in order for this approach to work you absolutely must conscientiously read the book and /or PPt. slides, watch and take notes from the class-capture videos and at least review if not complete the week’s HW assignments WELL IN ADVANCE OF OUR CLASS SESSIONS!!!!! Please heed this message as there is simply no substitute for this approach if you want to do well in this course. Course Average / Grade Breakdown: Item Homework Average of 3 Exams Total

Weight 25% 75% 100%

Grading Scale: 93 - 100 A 87 – 89 B+ 83 – 86 B 77 – 79 C+ 73 – 76 C 67 – 69 D+ 63 – 66 D Below 59 – F

90 – 92 A– 80 – 82 B– 70 – 72 C– 60 – 62 D–

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Note that the overall HW average will be weighted according to the number of points per assignment. This will be the HW average that appears in the gradebook in Canvas. Note as well that there is no opportunity for any extra credit aside from the HW and exams as indicated above. As a matter of policy, the Finance Department does not apply any additional adjustment (i.e., curve) to the final weighted course average. Moreover, IN ORDER TO TREAT EACH FINANCE 3101 STUDENT EQUALLY, THE FINANCE DEPARTMENT DOES NOT ARBITRARILY ADD POINTS TO AN INDIVIDUAL STUDENT’S COURSE AVERAGE! All questions regarding this or any other course policy should be directed to the department chair, Dr. Jon Scott. “Passing” Grade: Minimum passing grades may vary depending upon several factors. Students are strongly encouraged to consult the prevailing Undergraduate Bulletin, Undergraduate Advising, and their major department. Assignment Descriptions: Students are completely responsible for being aware of and meeting all assignment due dates. Due dates are firm and NO EXTENSIONS WILL BE GIVEN OTHER THAN FOR A LIMITED NUMBER OF SPECIFIC EXCEPTIONS (See section on Homework below). Homework: Homework is an integral part of learning Finance and is the complete responsibility of the student. There will be a total of 39 HW assignments--3 types of assignments--Worksheet (WS), True/False (TF) and Problems (P) for each of the 13 chapters covered in the course. Dynamic Study Module (DSM) exercises which are an interactive learning tool will also be available but will not count in the calculation of the course average. The 5 lowest scores out of the 39 will be dropped with the final scores then consisting of the average of the 34 highest. Assignments will be due by 11:00 PM on the final exam day for the chapters covered on that particular exam. Students are responsible for using a computer that meets the system requirements for all assignments through MFL (see “Browser Check” in MFL). Students are also responsible for printing and retaining the “Homework Overview” page for all submitted MFL assignments, the “Incident Number” for contact with the MFL help desk and for working with the MFL help desk to correct any technical issues. There are no extensions of HW due dates with the following exceptions: A medical condition or emergency; (b) A death in the family; or (c) A University-sponsored activity. In all cases, full WRITTEN documentation is required from the appropriate medical or Temple University personnel. Exams: There will be total of three (3) exams. Students have the option of taking exams online or with a designated section on campus subject to prior arrangement with me. For online exams there will be a window of 86 hours within which the exam may be taken. One note sheet (8 ½ x 11 HANDWRITTEN) will be permitted for use during exams. Under no circumstances may any exam be taken before its regularly scheduled time frame. Make-ups will be considered only for reasons related to medical issues or University-scheduled activities. In all cases, APPROPRIATE WRITTEN DOCUMENTATION is required. Examity: Students are required to use Examity online proctoring service f or online exams. Each exam will have a cost associated for students of $22 per exam. When taking an exam online, students must have a webcam and 4

microphone to be heard and seen by the proctor. Students without such devices will not be allowed to take an exam and will receive a score of zero for the test. For online exams, students must register with Examity (details available in Canvas) and create a user profile with 3-user specific security questions and answers, an uploaded image of a valid state ID, and set their current time zone in Examity’s system. This profile will be used by the proctor to verify student identity when entering an exam. All exams will be recorded by the proctor and made available to me to view for any infractions. Please click on the Examity tab in Canvas to register and take your exams in Examity, an online proctoring service. When you first log into Examity you will setup your account. Please have a copy of your government issued ID available when registering. Registration must be setup before the end of the first week of class. Once registration is complete you will have the ability to schedule your exams. Exams must be scheduled at least 48 hours in advance, otherwise a fee will be due. You can schedule to take your exam 24 hours a day during the open window of the exam. A more detailed explanation can be found in Canvas. It is critical that you follow the directions, especially when it comes to examiKEY. PearsonMyLab/Mastering: MyFinanceLab (MFL) is the tool we will use for all online assignments and exams. Registration for MFL should be completed ASAP as you should be prepared to ask questions on the first set of assignments BY by 7:00 P.M. on AUGUST 27! Registration for MyLab/Mastering must be done through the “MyLab and Mastering” tab in Canvas. Note: Several other departments in the Fox School use MyLab/Mastering tools. You only need to create one account in this system and you can use the account for multiple courses. It is strongly suggested that you use your tuX#### as your username and your Temple email as your email address. If you forget your username or password you can retrieve them through https://register.pearsoncmg.com/forgotlogin/forgotLogin.fl Exam and Assignment Due Dates: Due dates for all assignments and times available for taking exams online are provided in separate weekly tabs in our section’s Canvas course. Calculators & Spreadsheets: All calculations required for exams and most HW assignments can be performed using a scientific calculator rather than a financial calculator or spreadsheet such as Microsoft Excel. For assignments that do require use of a financial calculator or spreadsheet, examples will be provided through available learning aids. Attendance: Attendance for the WebEx class sessions is strongly encouraged as it provides the only opportunity to ask questions in real time. However, attendance is not required and is not explicitly included in the calculation of the course average.

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Resources:     

Access your course materials Canvas (https://templeu.instructure.com/courses/28290) Databases, journal articles, and more o Temple University Libraries (http://library.temple.edu/) Receive Assistance with strengthening your writing o Temple University Writing Center (http://www.temple.edu/writingctr/) Obtain 24/7 technology assistance o Computer Services Helpdesk (http://www.temple.edu/helpdesk)

WebEx Virtual Classes: We will meet once a week using WebEx. WebEx installs on your computer the first time you use it, and then does not need to install again; please check this to make sure it installs successfully before the course begins. While there are ways to join a webex session through mobile devices this should only be used in an emergency. You cannot fully participate in a session unless you join using a computer with a full operating system. Please log into the virtual classes before the scheduled class time, as we will begin promptly. You can access the virtual classes through Canvas. Inclement Weather Policy: Please be advised that while Temple University campuses may close for inclement weather, online courses are not on-campus and therefore are still expected to meet. Your instructor will contact you regarding any adjustments needed in the event of a power outage or severe circumstances. Should you have any questions, please contact the professor. Academic Honesty: Learning is both an individual and a cooperative undertaking. Asking for and giving help freely in all appropriate settings helps you to learn. You should represent only your own work as your own. Personal integrity is the basis for intellectual and academic integrity. Academic integrity is the basis for academic freedom and the University's position of influence and trust in our society. University and school rules and standards define and prohibit "academic misconduct" by all members of the academic community including students. You are asked and expected to be familiar with these standards and to abide by them. A link to Temple’s Policy on Academic Dishonesty can be found at the following link: http://bulletin.temple.edu/undergraduate/about-temple-university/studentresponsibilities/#academichonesty

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Disability Statement: Any student who has need of accommodation based on the impact of a disability should contact me privately to discuss the specific situation as soon as possible. Contact Temple University’s Disability Resources and Services (DRS) office at (215)204-1280 at 100 Ritter Annex to coordinate accommodations for students with documented disabilities. Please contact your instructor and the DRS within the first week of class, at the beginning of the semester. DRS will establish your needs, and make necessary arrangements with faculty. If you choose not to contact DRS, and have difficulty, you will be unable to receive accommodations retroactively, once exams are completed and/or course grades are submitted. Such decisions are made jointly between the DRS office and the instructor, at their discretion based on circumstances. Accommodation letters must be received by the instructor during the first two weeks of the semester. Student and Faculty Rights and Responsibilities: Freedom to teach and learn are inseparable facets of academic freedom. The University has a policy on Student and Faculty and Academic Rights and Responsibilities (Policy #03.70.02) which can be accessed through the following link: http://policies.temple.edu/getdoc.asp?policy_no=03.70.02. Student Concerns Guidelines: Grievance Procedure on Fox Web Site: http://www.fox.temple.edu/cms_academics/dept/advising/students/grievance-procedures/ Technology Usage Policy: Temple University’s Technology Usage policy includes information on unauthorized access, disclosure of passwords, and sharing of accounts. The Temple University Technology Usage Policy can be accessed at http://policies.temple.edu/PDF/84.pdf Finance Majors: Finance majors can choose between one of two concentrations: Corporate Finance and Asset Pricing. The Corporate Finance concentration is intended for graduates who plan to go into financial analysis or project management, banking, asset management, corporate treasury, consulting, or public finance. Virtually all topics covered in Finance 3101 are closely related to this concentration. The Asset Pricing concentration is intended for graduates who plan to go into regulatory compliance, asset management, MS programs in investment management, or other graduate programs. Topics in Finance 3101 most closely related to this concentration are those dealing with prices and yields on bonds, stocks and nonfinancial assets. Regardless of the concentration chosen, Finance majors are strongly encouraged to become involved in the Financial Management Association and the Temple University Investment Association.

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Course Schedule Subject to change at the discretion of Instructor WEEK

WEBEX SESSION (7:00 - 7:55PM)

TOPIC

ASSIGNMENTS DUE (11:00 PM)

1

AUGUST 27

Course Introduction

SEPTEMBER 29

2

SEPTEMBER 03

TVM - Lump Sums

SEPTEMBER 29

3

SEPTEMBER 10

TVM - Multiple Cash Flows

SEPTEMBER 29

4

SEPTEMBER 17

Interest Rates & Bonds

SEPTEMBER 29

5

SEPTEMBER 24

REVIEW: EXAM #1

SEPTEMBER 26 - 29

6

OCTOBER 01

Risk & Return

NOVEMBER 03

7

OCTOBER 08

Stocks

NOVEMBER 03

8

OCTOBER 15

Financial Statements

NOVEMBER 03

9

OCTOBER 22

Capital Structure

NOVEMBER 03

10

OCTOBER 29

REVIEW: EXAM #2

OCTOBER 31 – NOVEMBER 03

11

NOVEMBER 05

Analysis of Financial Statements

DECEMBER 15

12

NOVEMBER 12

Project Cash Flows

DECEMBER 15

13

NOVEMBER 19

Cost of Capital

DECEMBER 15

14

NOVEMBER 26

FALL BREAK

FALL BREAK

15

DECEMBER 03

Capital Budgeting

DECEMBER 15

DECEMBER 12 - 15

FINAL EXAM

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