《财务管理学》双语教学大纲
《财务管理》双语教学课程设置体系研究
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财管专业——《管理会计(双语)》
《管理会计（双语）》课程教学大纲课程编码：12120204211课程性质：专业必修课学分：3课时：48开课学期：5适用专业：财务管理一、课程简介《管理会计(双语)是财务管理专业（本科）的一门必修课程。
是以现代企业所处的社会经济环境为背景，明确阐明以企业为主体，密切联系现代会计的预测、决策、规划、控制、考核评价等职能，系统地介绍了现代管理会计的基本理论、基本方法和实用操作技术。
课程分为三部分，第一部分主要交代了管理会计的基本原理和传统管理会计的基本方法；第二部分主要分别讨论管理会计各项职能在实践中的应用程序与具体操作方法。
第三部分集中介绍管理会计发展的新领域。
管理会计是一门理论性较强、计算内容较多的课程。
通过该门课程的学习，使学生领会管理会计的精髓，掌握管理会计的基本理论和基本方法，学会各种分析方法的应用技能和技巧，不断提高学生分析问题和解决问题的能力。
二、教学目标课程总体目标：通过本课程教学，掌握管理会计的基本理论和基本分析方法，结合相应的实践教学，培养学生能独立开展各项管理会计工作的能力。
（一）知识要求：1.了解管理会计的产生与发展，明确管理会计的特点、职能、内容和任务；2.掌握成本习性与变动成本法、本量利分析等管理会计基础分析方法，并了解方法的一般原理；3.掌握短期经营决策分析、长期投资决策分析、全面预算、标准成本控制、责任会计等内容的基本理论与方法。
（二）能力要求：1、具有热爱管理会计工作，爱岗敬业的道德观念；2、具有胜任管理会计工作的良好业务素质和身体素质；3、具有预测、决策、规划、控制的实务能力；4、具有管理会计工作的职业判断、分析和思维能力三、教学内容（一）Chapter 1 Managerial Accounting Concepts and PrinciplesThe main content: Chapter 1 introduces students to managerial accounting and the manufacturing process. Students will learn how managerial accounting is used in the management decision process. They will also be exposed to the terminology used to describe costs related to manufacturing.Learning Objectives：After studying the chapter, your students should be able to:1. Describe managerial accounting and the role of managerial accounting in a business.2. Define and illustrate the following costs: 1. direct and indirect costs, 2. direct materials,direct labor, and factory overhead costs, 3. product and period costs.3. Describe and illustrate the following statements for a manufacturing business: 1.balance sheet, 2. statement of cost of goods manufactured, 3. income statement.4. Describe the uses of managerial accounting information.Some key points: direct and indirect costs, direct materials, direct labor, factory overhead costs, product and period costs; cost of goods manufactured.Teaching methods: use of multimedia tools. We ad opt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange stud ents to d o some appropriate exercises and self-extending reading after class.（二）Chapter 2Job Order CostingThe main content：Chapter 2 introduces students to managerial job order cost systems. Students will be exposed to the terminology used to describe costs related to manufacturing. The first of two basic manufacturing accounting systems, job order, is described in this chapter. Students learn how costs flow through a manufacturing system and the basis for determining product costs under job order costing.Learning Objectives：After studying the chapter, your students should be able to:1. Describe cost accounting systems used by manufacturing businesses.2. Describe and illustrate a job order cost accounting system.3. Describe the use of job order cost information for decision making.4. Describe the flow of costs for a service business that uses a job order cost accountingsystem.Some key points: Job Order Cost System; Overapplied Factory Overhead; Underapplied Factory Overhead; predetermined overhead rate;Teaching methods: use of multimedia tools. We adopt Classroom-based teaching,which is suppl emented by the necessary classroom discussion. Besides，arrange stud ents to d o some appropriate exercises and self-extending reading after class.（三）Chapter 3Process Cost SystemsThe main content：Chapter 3 completes the coverage of manufacturing accounting by introducing process costing. The text demonstrates process costing under the FIFO method. The average cost method is presented in th e chapter’s appendix. Chapter 3 also discusses the impact of just-in-time systems on manufacturing.Learning Objectives：After studying the chapter, your students should be able to:1. Describe process cost systems.2. Prepare a cost of production report.3. Journalize entries for transactions using a process cost system.4. Describe and illustrate the use of cost of production reports for decision making.5. Compare just-in-time processing with traditional manufacturing processing.Some key points: Process Cost System; First-in, First-out (FIFO) Method; Cost of Production Report; Just-in-Time (JIT) Processing.Teaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.（四）Chapter 4 Cost Behavior and Cost-Volume-Profit AnalysisThe main content: In Chapter 4, students learn how to conduct cost-volume-profit analysis. In preparation for this activity, the chapter discusses variable, fixed, and mixed costs.Learning Objectives：After studying the chapter, your students should be able to:1. Classify costs as variable costs, fixed costs, or mixed costs.2. Compute the contribution margin, the contribution margin ratio, and the unitcontribution margin.3. Determine the break-even point and sales necessary to achieve a target profit.4. Using a cost-volume-profit chart and a profit-volume chart, determine the break-evenpoint and sales necessary to achieve a target profit.5. Compute the break-even point for a company selling more than one product, theoperating leverage, and the margin of safety.Some key points:variable costs; fixed costs; mixed costs; High-Low Method; Contribution Margin; Cost-Volume-Profit Analysis; Contribution Margin Ratio; Unit Contribution Margin.Teaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.（五）Chapter 5 BudgetingThe main content: Chapter 5 emphasizes accounting activities that help managers plan, direct, and control the operations of a business. Budgeting is used to establish business goals in the planning function. Budgets help guide managers’ operational decisions. Budgets are also used to control operations as actual results are compared to the budgeted results.Learning Objectives：After studying the chapter, your students should be able to:1. Describe budgeting, its objectives, and its impact on human behavior.2. Describe the basic elements of the budget process, the two major types of budgeting,and the use of computers in budgeting.3. Describe the master budget for a manufacturing company.4. Prepare the basic income statement budgets for a manufacturing company.5. Prepare balance sheet budgets for a manufacturing company.Some key points: Goal Conflict；Budgetary Slack；Continuous Budgeting；Static Budget；Flexible Budget；Zero-Based Budgeting；Capital Expenditures Budget.Teaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.（六）Chapter 6 Performance Evaluation Using Variances from Standard Costs The main content: Standard cost systems set budgets for the materials, labor, and factory overhead used by a manufacturer to produce its product. Deviations from these standards are reported as variances.Learning Objectives：After studying the chapter, your students should be able to:1. Describe the types of standards and how they are established.2. Describe and illustrate how standards are used in budgeting.3. Compute and interpret direct materials and direct labor variances.4. Compute and interpret factory overhead controllable and volume variances.5. Journalize the entries for recording standards in the accounts and prepare an incomestatement that includes variances from standard.6. Describe and provide examples of nonfinancial performance measures.Some key points: Direct Labor Rate Variance ；Direct Materials Price Variance；Direct Labor Time Variance；Direct Materials Quantity Variance；Budgeted Variable Factory Overhead；Factory Overhead Cost Variance Report；Controllable Variance；Volume Variance.Teaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.（七）Chapter 7 Performance Evaluation for Decentralized Operations The main content: Chapter 7 applies responsibility accounting to cost, profit, and investment centers. The chapter demonstrates the responsibility accounting reports that are used to evaluate department or division performance. This provides an excellent opportunity to remind your students that managers are judged, at least in part, using accounting data.Learning Objectives：After studying the chapter, your students should be able to:1. Describe the advantages and disadvantages of decentralized operations.2. Prepare a responsibility accounting report for a cost center.3. Prepare responsibility accounting reports for a profit center.4. Compute and interpret the rate of return on investment, the residual income, and thebalanced scorecard for an investment center.5. Describe and illustrate how the market price, negotiated price, and cost priceapproaches to transfer pricing may be used by decentralized segments of a business.Some key points:Responsibility Accounting；Balanced Scorecard；Profit Margin；DuPont Formula；Rate of Return on Investment (ROI)；Investment Center ;Residual Income；Investment TurnoverTeaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.（八）Chapter 8 Differential Analysis, Product Pricing, and Activity-Based CostingThe main content: This chapter covers (1) differential analysis, (2) methods of determining the selling price of a product using a cost-plus markup approach, (3) the effects of production bottlenecks, and (4) activity-based costing. The cost-plus approach of product cost is described in Objective 2; total cost and variable cost methods are presented in the chapter appendix. All topics in this chapter are able to stand alone. Therefore, the instructor is free to cover only one or two of the topics if class time is a limited resource as the term draws to a close.Learning Objectives：After studying the chapter, your students should be able to:1. Prepare differential analysis reports for a variety of managerial decisions.2. Determine the selling price of a product, using the product cost concept.3. Compute the relative profitability of products in bottleneck production processes.4. Allocate product costs using activity-based costing.Some key points:Product Cost Concept ; Target Costing; Production Bottleneck; Theory of Constraints (TOC); Activity-Based Costing (ABC).Teaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.（九）Chapter 9 Capital Investment AnalysisThe main content: Capital investment analysis is a topic that usually receives detailed coverage in introductory finance courses and/or intermediate accounting. The purpose of this chapter is to give students a brief introduction to the basics of capital investment analysis using the following methods: average rate of return, cash payback, net present value, and internal rate of return.Learning Objectives：After studying the chapter, your students should be able to:1. Explain the nature and importance of capital investment analysis.2. Evaluate capital investment proposals using the average rate of return and cashpayback methods.3. Evaluate capital investment proposals using the net present value and internal rate ofreturn methods.4. List and describe factors that complicate capital investment analysis.5. Diagram the capital rationing process.Some key points: Capital Investment Analysis；Time Value of Money Concept；Average Rate of Return；Cash Payback Period；Internal Rate of Return (IRR) Method；Capital Rationing.Teaching methods: use of multimedia tools. We adopt Classroom-based teaching, which is supplemented by the necessary classroom discussion. Besides，arrange students to do some appropriate exercises and self-extending reading after class.四、整体课时分配五、课程考核与成绩评定1.考核方式：考查；笔试；闭卷。
财务会计学(双语)-教学大纲
《财务会计学（双语）》教学大纲课程编号：040634A课程类型：□通识教育必修课□通识教育选修课□专业必修课√□专业选修课□学科基础课总学时：64讲课学时：64实验（上机）学时：学分：4适用对象：财税学院（国际班）专业先修课程：会计学原理一、课程的教学目标This intermediate financial accounting course builds on the basic understanding that you should have acquired in Basic Financial Accounting or an equivalent introductory course. It is designed to enable you to further develop accounting knowledge and skills in preparation for the subsequent three courses in financial accounting, and to relate this knowledge to other courses in the program of professional studies. The broad aim of this course is to present the concepts, methods, and techniques concerning the valuation of assets and the application of generally accepted accounting principles. The underlying issues of accounting theory will be incorporated as they arise.二、教学基本要求The prerequisite for this course is the introductory course Financial Accounting Fundamentals or equivalent. Students are also expected to have a sound understanding of basic mathematics and its application in the business context; the expected level of knowledge is that which can be gained from any standard business mathematics text.In this course we will study theory relating to accounting cycle, valuation, and disclosure. We will learn how this theory is applied in the development of accounting standards. Students’ ability to apply the accounting concepts and principles need to be reinforced through the completion of regular assignments and the questions. Grading Guidelines:Exam GuidelinesThe following are guidelines on the type of questions and their approximate三、各教学环节学时分配教学课时分配四、各章教学内容TextbookFinancial & Managerial Accounting---The Basis for Business Decisions 16th edition, Williams, Haka, Bettner, CarcelloChapter 1 Accounting Information for Decision Making1. To discuss accounting as the language of business and the role of accounting information in making economic decisions.2. To discuss the significance of accounting systems in generating reliable accounting information, and understand the five components of internal control per COSO’s Internal Control—Integrated Framework.3. To explain the importance of financial accounting information for external parties —primarily investors and creditors—in terms of the objectives and the characteristics of that information.4.To explain the importance of financial accounting information for internal parties—primarily management—in terms of the objectives and the characteristics of that information.5.To discuss elements of the system of external and internal financial reporting that create integrity in the reported information.6.To identify and discuss several professional organizations that play important roles in preparing and communicating accounting information.7.To discuss the importance of personal competence, professional judgment, and ethical behavior on the part of accounting professionals.8. To discuss various career opportunities in accounting.Chapter 2 BASIC FINANCIAL STATEMENTS1.To explain the nature and general purpose of financial statements.2.To explain certain accounting principles that are important for an understanding offinancial statements and how professional judgment by accountants may affect the application of those principles.3.To demonstrate how certain business transactions affect the elements of theaccounting equation: Assets = Liabilities + Owners’Equity.4.To explain how the statement of financial position, often referred to as the balancesheet, is an expansion of the basic accounting equation.5.To explain how the income statement reports an enterprise’s financialperformance for a period of time in terms of the relationship of revenues and expenses.6.To explain how the statement of cash flows presents the change in cash for aperiod of time in terms of the company’s operating, investing, and financing activities.7.To explain the important relationships among the statement of financial position,income statement, and statement of cash flows, and how these statements relate to each other.8.To explain common forms of business ownership—sole proprietorship,partnership, and corporation—and demonstrate how they differ in terms of their presentation in the statement of financial position.9.To discuss the importance of financial statements to a company and its investorsand creditors and why management may take steps to improve the appearance of the company in its financial statements.Chapter 3 The Accounting Cycle: Capturing Economic Events1.To identify the steps in the accounting cycle and discuss the role of accountingrecords in an organization.2.To describe a ledger account and a ledger.3.To understand how balance sheet accounts are increased and decreased.4.To explain the double-entry system of accounting.5.To explain the purpose of a journal and its relationship to the ledger.6.To explain nature of net income, revenue, and expenses.7.To apply the realization and matching principles in recording revenue andexpenses.8.To understand how revenue and expense transactions are recorded in anaccounting system.9.To prepare a trial balance and explain its uses and limitations.10.To distinguish between accounting cycle procedures and the knowledge ofaccounting.Chapter 4 The Accounting Cycle: Accruals and Deferrals1.To explain the purpose of adjusting entries.2.To describe and prepare the four basic types of adjusting entries.3.To prepare adjusting entries to convert assets to expenses.4.To prepare adjusting entries to convert liabilities to revenue.5.To prepare adjusting entries to accrue unpaid expenses.6.To prepare adjusting entries to accrue uncollected revenue.7.To explain how the principles of realization and matching relate to adjustingentries.8.To explain the concept of materiality.9.To prepare an adjusted trial balance and describe its purpose.Chapter 5 The Accounting Cycle: Reporting Financial Results1.To prepare an income statement, a statement of retained earnings, and a balancesheet.2.To explain how the income statement and the statement of retained earningsrelate to the balance sheet.3.To explain the concept of adequate disclosure.4.To explain the purposes of closing entries; prepare these entries.5.To prepare an after-closing trial balance.6.To use financial statement information to evaluate profitability and liquidity.7.To explain how interim financial statements are prepared in a business that closesits accounts only at year-end.8.To prepare a worksheet and explain its uses.Chapter 6 Merchandising Activities1.To describe the operating cycle of a merchandising company.2.To understand the components of a merchandising company’s income statement.3.To account for purchases and sales of merchandise in a perpetual inventorysystem.4.To explain how a periodic inventory system operates.5.To discuss the factors to be considered in selecting an inventory system.6.To account for additional merchandise transactions related to purchases and sales.7.To define special journals and explain their usefulness.8.To measure the performance of a merchandising business.Chapter 7 Financial Assets1.To define financial assets and explain their valuation in the balance sheet.2.To describe the objectives of cash management and internal controls over cash.3.To prepare a bank reconciliation and explain its purpose.4.To describe how short-term investments are reported in the balance sheet andaccount for transactions involving marketable securities.5.To account for uncollectible receivables using the allowance and direct write-offmethods.6.To explain, compute, and account for notes receivable and interest revenue.7.To evaluate the liquidity of a company’s accounts receivable.Chapter 8 INVENTORIES AND COST OF GOODS SOLD （Self study）1.In a perpetual inventory system, you are to determine the cost of goods sold using(a) specific identification, (b) average cost, (c) FIFO, and (d) LIFO. You should beable to discuss the advantages and shortcomings of each method.2.To explain the need for taking a physical inventory.3.To record shrinkage losses and other year-end adjustments to inventory.4.In a periodic inventory system, you are to determine the cost of goods sold using(a) specific identification, (b) average cost, (c) FIFO, and (d) LIFO.5.To explain the effects on the income statement of errors in inventory valuation.6.To estimate the cost of goods sold and ending inventory by the gross profitmethod and by the retail method.7.To compute the inventory turnover rate and explain its uses.Chapter 9 PLANT AND INTANGIBLE ASSETSThis chapter covers accounting for plant assets, including acquisition, depreciation, and disposal. Also included in the chapter are accounting for intangible assets and brief coverage of natural resources. Teaching objectives in presenting this material are to:1.Describe plant assets as a "stream of services" to be received by the businessentity.2.Distinguish between capital expenditures and revenue expenditures.3.Explain and illustrate depreciation as a technique for allocating costs.4.Explain and illustrate the mechanics of the depreciation methods discussed inthe chapter.5.Explain and illustrate accounting for disposals of plant assets.6.Explain the nature of intangible assets.7.Discuss techniques for estimating the value of the goodwill possessed by asuccessful business.8.Explain and illustrate depletion; relate depreciation, amortization, anddepletion to the matching principle.Chapter 10 LIABILITIESTeaching objectives for Chapter 101.Define liabilities. Distinguish between liabilities and owners' equity.2.Distinguish between current and long-term liabilities.3.Account for notes payable when interest is stated separately.4.Explain the nature of payroll liabilities including payroll taxes and othermandated costs.5.Explain the purpose of an amortization table. Illustrate the preparation anduse of such a table in the context of an installment note payable.6.Discuss the characteristics of corporate bonds including their tax advantages,and the basic journal entries to record their issuance, payment of interest, andredemption.7.Explain the nature of bonds issued at a discount or premium.8.Introduce the concept of present value and its relationship to bond prices.9.Distinguish between capital leases and operating leases and briefly explaintheir accounting treatment.10.Introduce other long-term liabilities including pensions, post-retirementbenefits, and deferred taxes. Describe the presentation of these items in thefinancial statements.11.Describe the cash effects of transactions involving liabilities.12.Explain the usefulness of the debt ratio and the interest coverage ratio.13.Explain the nature of estimated liabilities, loss contingencies, andcommitments. Describe the presentation of these items in financialstatements.Chapter 10 STOCKHOLDERS’ EQUITY: PAID-IN CAPITAL1.In this chapter we provide a comprehensive introduction to factors affectingpaid-in capital and its presentation on the balance sheet. Our teachingobjectives are to:2.Discuss the advantages and disadvantages of corporations.3.Explain the nature of a publicly owned corporation.4.Explain the roles of corporate directors and officers and the rights ofstockholders.5.Illustrate accounting for the issuance of capital stock in exchange for cash orother assets. Explain the role of an underwriter in the issuance of capitalstock.6.Discuss the typical features of preferred stock and contrast these featureswith those of common stock.7.Illustrate the computation of book value per share (with preferred stockoutstanding). Distinguish among the concepts of book value, par value, andmarket value.8.Explain the most important determinants of the market values of preferredand common stock.9.Explain the nature and purpose of stock splits.10.Explain the rationale for treasury stock transactions, and illustrate the relatedaccounting entries.五、主要参考书选用教材：Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. Carcello,《Financial & Management Accounting : the Basis for Business Decisions》财务会计分册第16版, 机械工业出版社参考书：Donald E. Kieso, Jerry J.Weygandt, Terry D. Warfield,《Intermediate Financial Accounting》，机械工业出版社执笔人：陈杰教研室主任：陈杰系教学主任审核签名：。
《财务管理学》课程中英文简介
《财务管理学》课程中英文简介Corporate Finance课程代码:040013A/040013B Course Code:040025A/040015A/040012B 040025A/040015A /040012B 040025A/040015A课程名称:财务管理学Course Name:Corporate Finance学时:48/32/80 Periods:48/32/80学分:3/2/5 Credits:3/2/5考核方式:考查/考试Assessment:Inspection/Examination先修课程: Preparatory Courses:成本管理会计学(上)MA1 Management AccountingⅠ本课程就是国际会计专业方向的基础财务管理学课程,主要讲授的就是财务经理在进行投资、筹资与日常营运管理过程中如何进行财务决策,才能实现股东财富最大化这一企业理财目标。
先修课程为管理会计基础(MA1)。
该课程主要包括以下内容:(1)财务管理学简介; (2)财务环境与其组成要素分析。
(3)证券估价。
(4)利息率与汇率的确定:利息率的影响因素与确定步骤、利率期限结构、风险溢价、汇率的影响因素、购买力平价理论与利率平价理论。
(5)战略决策——资本预算:主要讲授项目现金流的确定、资本预算方法与决策标准、内部报酬率法的优缺点分析、资本限额决策、资本预算决策中的风险分析。
(6)战略决策——资本成本:主要讲授资本结构、个别资本成本(包括债券、优先股、普通股)与综合资本成本的确定。
(7)经营决策——营运资本管理:主要讲授营运资本筹资决策、存货、应收帐款的管理。
(8)财务计划:主要讲授财务计划(或资金需求计划)的编制与分析。
Corporate Finance Fundamentals [FN1] is a fundamental course in managerial finance with an emphasis on the major decisions to be made by the financial executive of an organization、Topics introduced in FN1 include the following parts:Part 1 Introduction to the corporate finance; Part 2 The financial environment,including the financial system, the major intermediaries and the specialized markets; Part 3 Security valuation: Risk-free assets, including the interest rate as an opportunity cost, varying compound intervals and annuities; Part 4 The determinants of interest rates, including the determinants of interest rates, term structure effects; Part 5 Security valuation: Risk-adjusted discount rates, including the determinants of equity prices, the relationship between the price and the expected return; Part 6 Strategic decisions: Capital budgeting and cash flow estimation, including the capital budgeting process, estimating cash flows; Part 7 Strategic decisions: Capital budgeting evaluation criteria, including the NPV rule measures shareholder wealth, alternative capital budgeting criteria; Part 8 Financial planning, including Important elements in financial planning and the benefits of financial planning、《财务管理学》课程中英文简介Financial Management课程代码:040015A Course Code:040015A课程名称:财务管理学Course Name:Financial Management学时:80 Periods:80学分:5 Credits:5考核方式:考试Assessment:Examination先修课程:会计学基础Preparatory Courses:Accounting 财务管理学就是会计学与注册会计师专业的学科基础课,开设本课程的主要任务就是加强学生对财务管理理论与实务的全面、深入了解,培养学生课堂讨论与课外阅读与写作的习惯,引导学生对有关现代企业财务管理问题进行思考,从而培养出适应市场经济需要的中级理财者。
财务管理财务管理学(实验教学大纲)
《财务管理》实验教学大纲课程编号：S152067课程名称（中文）：财务管理（英文）：Financial Management课程性质：非独立设课课程属性：专业课教材及实验指导书名称：荆新、王化成、刘俊彦主编《财务管理学》，中国人民大学出版社，2011年学时：16 学分：0.5应开实验学期：5适用专业：财务管理、会计学先修课程：《会计学基础》、《中级财务会计》、《成本会计》。
一、课程简介《财务管理》是财务管理专业的专业课，本课程的任务是培养学生具有从事经济管理工作所必须的财务管理理论知识和实际应用能力。
学习本课程的基本要求是：1．掌握筹资管理、营运资金管理、投资管理、收入和利润管理的基本理论。
2．掌握财务报表分析的各种方法和技巧。
3．掌握筹资的渠道和方式，筹资需要量和决策的方法。
4．掌握项目投资决策指标的应用。
5．掌握营运资金管理的办法和技巧。
6．掌握股利政策的利弊和制定方法。
二、实验目的要求《财务管理》是一门应用性较强的学科。
《财务管理》实践教学，旨在使学生巩固财务管理学的理论知识，并使学生将财务管理的理论知识和实践活动相结合，进一步掌握在市场经济中通行的财务运作方法和手段，从而提高学生分析判断能力、独立思考能力和解决综合问题的能力。
三、实验方式与注意事项本课程所有实验均通过案例分析进行，每个实验都明确规定了实验目的和要求以及实验教学内容。
为了提高实验效率，要求：1．学生在实验前应按照实验的目的、要求和内容做好预习资料准备。
2．实验时应按实验要求独立完成每一个实验的内容。
3．课后认真书写实验报告。
四、实验报告1．实验报告采用统一的实验报告纸，实验封面包括：课程名称、实验名称、实验序号、班级、姓名、学号、实验时间。
2．实验报告书写规范，应包括：实验目的、内容、要求、实验纪录。
3．实验指导教师对实验报告要认真批改、评分。
五、考试（考核）方法与规定累计每次实验成绩作为实验总成绩，实验总成绩占本课程总成绩的15%。
《财务管理》教学大纲(英文)
《财务管理》课程编号：CFIN311课程类型：专业必修课总学时： 54 学时学分：3学分适用对象：工商管理专业先修课程：CACC111/MFIN221Learning ObjectivesOn successful completion of this paper candidates should be able to:–Discuss the role and purpose of the financial management function–Assess and discuss the impact of the economic environment on financial management–Discuss and apply working capital management techniques–Carry out effective investment appraisal–Identify and evaluate alternative sources of business finance–Discuss and apply principles of business and asset valuations–Explain and apply risk management techniques in business. Teaching MethodsThis course contains lectures, class discussions, homework assignments, quizzes and exams.Group discussions of the course material are an important part of the learning process in this course. Students are expected to make a meaningful contribution to the class, whether by asking questions, responding to questions, delivering presentations or contributing in other ways to class discussion.Core syllabus areas and teaching guidanceWorking capital management, investment appraisal and business finance are core areas of this course. Lecturing along with past exam problems practicing will be used to demonstrate how to apply key knowledge and techniques.Study TimeTo do well in this course, you need to devote time outside of class for practice and proper preparation. A typical student needs at least20 hours of no-class time each week during a 16-week semester. I would encourage all of you to do all assigned homework and practice extra problems.Homework assignmentsIf you do not attempt to complete the assigned homework, it is likely that your performance in the course will suffer. It is expected that homework assignments will be completed prior to the start of class. The answers need not be correct. Homework will be evaluated as complete if all parts of the assignment have been attempted and all work is shown. Assignments will be collected at the beginning of class and late assignments will not be accepted.Quizzes and ExaminationsThere will be one or two quizzes during the semester. Quizzes may or may not be announced in advance. Quizzes will test your knowledge of both concepts and the application of those concepts. The examination contains a mix of objectives and longer type questionsconsist of questions utilizing the application of critical thinking.Grading schemeA+ (100-97, Superior) A (96-93) A-(92-90)B+ (89-87) B (86-83, Good) B- (82-80)C+ (79-75) C (74-70, competent) C- (69-67)D+ (66-63) D (62-60) F = failure (59and below) Academic dishonestyAny student caught cheating on homework assignments or tests will receive an automatic grade of zero on that assignment. A second violation will result in disciplinary action in accordance with university policy. Any type of cheating on the midterm or final exam will result in a nullification of the exam paper.Classroom PolicyNo cell phones.No textbook no class!No smoking.No drowsing.No chatting and whispering.Participate actively.Course ScheduleCourse outlineChapter 1 Financial management and financial objectivesFinancial management function1 The nature and purpose of financial management(a) Explain the nature and purpose of financial management.(b) Explain the relationship between financial management and financial and management accounting.2 Financial objectives and the relationship with corporate strategy(a) Discuss the relationship between financial objectives, corporate objectivesand corporate strategy.(b) Identify and describe a variety of financial objectives, including:(i) Shareholder wealth maximization(ii) Profit maximization(iii) Earnings per share growth3 Stakeholders and impact on corporate objectives(a) Identify the range of stakeholders and their objectives.(b) Discuss the possible conflict between stakeholder objectives.(c) Discuss the role of management in meeting stakeholder objectives,including the application of agency theory.(d) Describe and apply ways of measuring achievement of corporate objectivesincluding:(i) Ratio analysis, using appropriate ratios such as return on capital employed,return on equity, earnings per share and dividend per share(ii) Changes in dividends and share prices as part of total shareholder return(e) Explain ways to encourage the achievement of stakeholder objectives,including:(i) Managerial reward schemes such as share options and performance-relatedpay(ii) Regulatory requirements such as corporate governance codes of bestpractice and stock exchange listing regulations4 Financial and other objectives in not for profit organizations(a) Discuss the impact of not for profit status on financial and other objectives.(b) Discuss the nature and importance of value for money as an objective in notfor profit organizations.(c) Discuss ways of measuring the achievement of objectives in not for profitorganizations.Key teaching pointsFinancial management functionFinancial and other objectives in not for profit organizationsExam guideThe material in this chapter is examinable as an entire discussion question or as a question involvingcalculations such as ratios and discussion. When doing a ratio analysis question, you must make sure you apply your answer to the organization in the question. The organization will not necessarily be a publicly quoted company with shareholders. AssignmentSee Revision Kit 2016,BPP Learning MediaSection A Questions1-5 MCQ bank – Financial management and financial objectivesSection B Questions 16-20 ABC CoChapter 2 The economic environment for businessThe economic environment for business(a) Identify and explain the main macroeconomic policy targets.(b) Define and discuss the role of fiscal, monetary, interest rate and exchangerate policies in achieving macroeconomic policy targets.(c) Explain how government economic policy interacts with planning anddecision-making in business.(d) Explain the need for, and the interaction with, planning and decision-makingin business of:(i) Competition policy(ii) Government assistance for business(iii) Green policies(iv) Corporate governance regulationKey teaching points(a) Identify and explain the main macroeconomic policy targets.(b) Define and discuss the role of fiscal, monetary, interest rate and exchangerate policies in achieving macroeconomic policy targets.(c) Explain how government economic policy interacts with planning anddecision-making in business.Exam guideThe emphasis in the exam will be on discussing how economic conditions or policies affect particular businesses, for example the impact of a change in interest rates.Assignment21-35 MCQ bank – Financial management environment36-40 CBE style OTQ bank – Financial management environmentChapter 3 Financial markets, money markets and institutions1 The nature and role of financial markets and institutions(a) Identify the nature and role of money and capital markets, both nationallyand internationally.(b) Explain the role of financial intermediaries.(c) Explain the functions of a stock market and a corporate bond market.(d) Explain the nature and features of different securities in relation to therisk/return tradeoff.2 The nature and role of money markets(a) Describe the role of the money markets in:(i) Providing short-term liquidity to the private sector and the public sector(ii) Providing short-term trade finance(b) Explain the role of banks and other financial institutions in the operation ofthe money markets.(c) Explain the characteristics and role of the principal money-marketinstruments:(i) Interest-bearing instruments(ii) Discount instruments(iii) Derivative productsKey teaching pointsExplain the role of financial intermediaries.The nature and role of money marketsExplain the characteristics and role of the principal money-marketInstrumentsExam guideYou are unlikely to be asked a whole longer question on financial markets and institutions. You might,however, be asked a part question or Section A multiple choice question that relates to the circumstances of a particular company, for instance how they could raise funds using a stock market.AssignmentChapter end quick quizChapter 4 Working capital1 The nature, elements and importance of working capital(a) Describe the nature of working capital and identify its elements.(b) Identify the objectives of working capital management in terms of liquidity andprofitability, and discuss the conflict between them.(c) Discuss the central role of working capital management in financial management.2 Management of inventories, accounts receivable, accounts payable and cash(a) Explain the cash operating cycle and the role of accounts payable and accounts receivable.(b) Explain and apply relevant accounting ratios, including:(i) Current ratio and quick ratio(ii) Inventory turnover ratio, average collection period and average payable period (iii) Sales revenue/net working capital ratioKey teaching pointsAll are very importantExam guideWorking capital is highly examinable. Questions are likely to be a mixture of calculations and discussion. Always make sure your discussion and explanations are applied to the specific organization in the question.AssignmentSection A Questions41-45 MCQ bank – Working capital80 Wobnig Co (6/12, amended) (a)Chapter 5 Managing working capital1 Management of inventories, accounts receivable, accounts payable and cash(a) Discuss, apply and evaluate the use of relevant techniques in managing inventory,including the economic order quantity model and Just-in-Time techniques.(b) Discuss, apply and evaluate the use of relevant techniques in managing accountsreceivable, including:(i) Assessing creditworthiness(ii) Managing accounts receivable(iii) Collecting amounts owing(iv) Offering early settlement discounts(v) Using factoring and invoice discounting(vi) Managing foreign accounts receivable(c) Discuss and apply the use of relevant techniques in managing accounts payable, including:(i) Using trade credit effectively(ii) Evaluating the benefits of discounts for early settlement and bulk purchase (iii) Managing foreign accounts payableKey teaching pointsDiscuss, apply and evaluate the use of relevant techniques in managing inventory Discuss and apply the use of relevant techniques in managing accounts payable Exam guideQuestions in this area are likely to be a mixture of calculations and discussion. The material in this chapter is highly examinable.Assignment46-55 CBE style OTQ bank – Managing working capital78 WQZ Co (12/10, amended)79 Bold Co (12/11, amended)Chapter 6 Working capital finance1 Management of inventories, accounts receivable, accounts payable and cash(a) Explain the various reasons for holding cash, and discuss and apply the use ofrelevant techniques in managing cash, including:(i) Preparing cash flow forecasts to determine future cash flows and cash balances(ii) Assessing the benefits of centralized treasury management and cash control (iii) Cash management models, such as the Baumol model and the Miller-Orr model(iv) Investing short-term2 Determining working capital needs and funding strategies(a) Calculate the level of working capital investment in current assets and discuss thekey factors determining this level, including:(i) The length of the working capital cycle and terms of trade(ii) An organization's policy on the level of investment in current assets(iii) The industry in which the organization operates(b) Describe and discuss the key factors in determining working capital funding strategies, including:(i) The distinction between permanent and fluctuating current assets(ii) The relative cost and risk of short-term and long-term finance(iii) The matching principle(iv) The relative costs and benefits of aggressive, conservative and matching funding policies(v) Management attitudes to risk, previous funding decisions and organization size Key teaching points(a) Explain the various reasons for holding cash, and discuss and apply the use ofrelevant techniques in managing cash, including:(i) Preparing cash flow forecasts to determine future cash flows and cash balances(ii) Assessing the benefits of centralized treasury management and cash control (iii) Cash management models, such as the Baumol model and the Miller-Orr modelDescribe and discuss the key factors in determining working capital funding strategies Exam guideThe material covered in this chapter is again highly examinable. Any of the calculations could form part or all of a question and you also need to be able to explain the meaning of your answers.Assignment56-60 CBE style OTQ bank – Working capital finance80 Wobnig Co (6/12, amended) (b)84 Widnor Co (6/15, amended)Chapter 7 Investment decisions1 Investment appraisal techniques(a) Identify and calculate relevant cash flows for investment projects.(b) Calculate payback period and discuss the usefulness of payback as an investmentappraisal method.(c) Calculate return on capital employed (accounting rate of return) and discuss itsusefulness as an investment appraisal method.Key teaching pointsAll are very important as this chapter is a core area of this course.Exam guideYou should be able to use the techniques covered in this chapter, you may be asked to discuss their drawbacks. You must be able to apply your knowledge.Assignment85-94 MCQ bank – Investment decisionsChapter 8 Investment appraisal using DCF methods1 Investment appraisal techniques(a) Calculate net present value and discuss its usefulness as an investment appraisal method.(b) Calculate internal rate of return and discuss its usefulness as an investment appraisal method.(c) Discuss the superiority of DCF methods over non-DCF methods.(d) Discuss the relative merits of NPV and IRR.Key teaching pointsAll are very important as this chapter is a core area of this course.Exam guideYou may be asked to discuss the relative merits of the various investment appraisal techniques as well as to demonstrate your ability to apply the techniques themselves. Assignment95-104 MCQ bank – Investment appraisal using DCFChapter 9 Allowing for inflation and taxation1 Allowing for inflation and taxation in investment appraisal(a) Apply and discuss the real terms and nominal terms approaches to investment appraisal.(b) Calculate the taxation effects of relevant cash flows, including the tax benefits ofcapital allowances and the tax liabilities of taxable profit.(c) Calculate and apply before- and after-tax discount rates.Key teaching pointsAll are very important as this chapter is a core area of this course.Exam guideAs well as bringing inflation into your DCF calculations, you may be asked to explain the differences between real and nominal rates. In a long question, you can expect to have to deal with inflation, tax and working capital in an NPV question. Assignment105-114 MCQ bank – Allowing for tax and inflation146 Project E (6/14, amended)152 Uftin Co (12/14, amended)Chapter 10 Project appraisal and risk1 Investment appraisal process techniques(a) Calculate discounted payback and discuss its usefulness as an investment appraisal method.2 Adjusting for risk and uncertainty in investment appraisal(a) Describe and discuss the difference between risk and uncertainty in relation toprobabilities and increasing project life.(b) Apply sensitivity analysis to investment projects and discuss the usefulness ofsensitivity analysis in assisting investment decisions.(c) Apply probability analysis to investment projects and discuss the usefulness ofprobability analysis in assisting investment decisions.(d) Apply and discuss other techniques of adjusting for risk and uncertainty ininvestment appraisal, including:(i) Simulation(ii) Adjusted paybackKey teaching pointsCalculate discounted payback and discuss its usefulness as an investment appraisal method.Apply sensitivity analysis to investment projects and discuss the usefulness of sensitivity analysis in assisting investment decisions.Apply probability analysis to investment projects and discuss the usefulness of probability analysis in assisting investment decisions.Exam guideRisk and uncertainty are increasingly examinable in financial management exams andsensitivity calculations are particularly important. You will need to be able to explain these techniques as well as be confident and competent with the calculations. Assignment115-119 CBE style OTQ bank – Project appraisal and risk130-134 Sensitivity analysisChapter 11 Specific investment decisionsSpecific investment decisions (lease or buy; asset replacement; capital rationing) (a) Evaluate leasing and borrowing to buy using the before- and after-tax costs of debt.(b) Evaluate asset replacement decisions using equivalent annual cost and equivalent annual benefit.(c) Evaluate investment decisions under single period capital rationing, including: (i) The calculation of profitability indexes for divisible investment projects(ii) The calculation of the NPV of combinations of non-divisible investment projects Key teaching pointsAll are very important as this chapter is a core area of this course.Exam guideYou may be asked to calculate the results of different options and careful, methodical workings will be essential. These calculations can be quite difficult and will need lots of practice.Assignment120-129 CBE style OTQ bank – Specific investment decisions145 Calvic Co147 AGD Co (FMC, 12/05, amended)Chapter 12 Sources of finance1 Sources of and raising business finance(a) Identify and discuss the range of short-term sources of finance available to businesses, including:(i) Overdraft(ii) Short-term loan(iii) Trade credit(iv) Lease finance(b) Identify and discuss the range of long-term sources of finance available tobusinesses, including:(i) Equity finance(ii) Debt finance(iii) Lease finance(iv) Venture capital(c) Identify and discuss methods of raising equity finance, including:(i) Rights issue(ii) Placing(iii) Public offer(iv) Stock exchange listing(d) Identify and discuss methods of raising short- and long-term Islamic finance, including:(i) Major difference between Islamic finance and the other forms of business finance(ii) The concept of riba (interest) and how returns are made by Islamic financial securities(iii) Islamic financial instruments available to businesses, including:(i) Murabaha (trade credit)(ii) Ijara (lease finance)(iii) Mudaraba (equity finance)(iv) Sukuk (debt finance)(v) Musharaka (venture capital)Key teaching pointsIdentify and discuss methods of raising equity financeIdentify and discuss methods of raising short- and long-term Islamic financeExam guideSources of finance are a major topic. You may be asked to describe appropriate sources of finance for a particular company, and also discuss in general terms when different sources of finance should be utilized and when they are likely to be available.Assignment154-158 MCQ bank – Sources of finance147 AGD Co (FMC, 12/05, amended)199 Bar Co (12/11, amended)Chapter 13 Dividend policy1 Sources of and raising business finance(a) Identify and discuss internal sources of finance, including:(i) Retained earnings(ii) Increasing working capital management efficiency(iii) The relationship between dividend policy and the financing decision(iv) The theoretical approaches to, and the practical influences on, the dividend decisions, including legal constraints, liquidity, shareholding expectations andalternatives to cash dividendsKey teaching pointsIdentify and discuss internal sources of finance(i) Retained earnings(ii) Increasing working capital management efficiencyExam guideThis chapter is likely to be examined as a discussion question, perhaps combined with ratio analysisAssignment159-163 MCQ bank – Dividend policyChapter 14 Gearing and capital structure1 Sources of finance and their relative costs(c) Identify and discuss the problem of high levels of gearing.(d) Assess the impact of sources of finance on financial position, financial risk and shareholder wealth using appropriate measures, including:(i) Ratio analysis using statement of financial position gearing, operational and financial gearing, interest coverage ratio and other relevant ratios(ii) Cash flow forecasting(iii) Leasing or borrowing to buy2 Finance for small and medium-sized entities (SMEs)(a) Describe the financing needs of small businesses.(b) Describe the nature of the financing problem for small businesses in terms of the funding gap, the maturity gap and inadequate security.(c) Explain measures that may be taken to ease the financing problems of SMEs, including the responses of government departments and financial institutions.(d) Identify and evaluate the financial impact of different sources of finance for SMEs, including sources already referred to in syllabus section E1, and also:(i) Business angel financing(ii) Government assistance(iii) Supply chain financing(iv) Crowdfunding/peer to peer fundingKey teaching pointsRatio analysis using statement of financial position gearing, operational and financial gearing, interest coverage ratio and other relevant ratiosFinance for small and medium-sized entities (SMEs)Exam guideYou may be asked to explain the implications of different financing decisions on investment opportunities and the company's continued health. Capital structure is a significant topic in this exam and can be examined in conjunction with a number of other areas.Assignment164-173 MCQ bank – Gearing and capital structureChapter 15 The cost of capital1 Estimating the cost of capital(a) Estimate the cost of equity including:(i) Application of the dividend growth model and discussion of its weaknesses(ii) Explanation and discussion of systematic and unsystematic risk(iii) Relationship between portfolio theory and the capital asset pricing model(CAPM)(iv) Application of the CAPM, its assumptions, advantages and disadvantages (b) Estimating the cost of debt:(i) Irredeemable debt(ii) Redeemable debt(iii) Convertible debt(iv) Preference shares(v) Bank debt(c) Estimating the overall cost of capital including: 2(i) Distinguishing between average and marginal cost of capital(ii) Calculating the weighted average cost of capital (WACC) using book value and market value weightings2 Sources of finance and their relative costs(a) Describe the relative risk-return relationship and describe the relative costs of equity and debt.(b) Describe the creditor hierarchy and its connection with the relative costs of sources of finance.Key teaching pointsAll are very important as this chapter is a core area of this course.Exam guideIn the exam you may be asked to calculate the weighted average cost of capital and its component costs, either as a separate sub-question, or as part of a larger question, most likely an investment appraisal. Remember that questions won't just involve calculations; you may be asked to discuss the problems with the methods of calculation you've used or the relevance of the costs of capital to investment decisions.Assignment174 -183 CBE style OTQ bank – The cost of capital201 NN Co (12/10, amended)202 AQR Co (6/11, amended)203 BKB Co (12/12, amended)Chapter 16 Capital structure1 Sources of finance and their relative costs(a) Impact of cost of capital on investments including:(i) The relationship between company value and cost of capital(ii) The circumstances under which WACC can be used in investment appraisal (iii) The advantages of the CAPM over WACC in determining a project-specific cost of capital(iv) Application of CAPM in calculating a project-specific discount rate2 Capital structure theories and practical considerations(a) Describe the traditional view of capital structure and its assumptions.(b) Describe the views of Miller and Modigliani on capital structure, both without andwith corporate taxation, and their assumptions.(c) Identify a range of capital market imperfections and describe their impact on theviews of Miller and Modigliani on capital structure.(d) Explain the relevance of pecking order theory to the selection of sources of finance.Key teaching pointsAll are very important as this chapter is a core area of this course.Exam guideThe theories covered in this chapter could be needed in a discussion part of a question. Gearing andungearing a beta is an essential technique to master using the formula which will be given to you in the exam.Assignment184- 193 CBE style OTQ bank – Capital structure204 Fence Co (6/14, amended)205 Tinep Co (12/14, amended)Chapter 17 Business valuations1 Nature and purpose of the valuation of business and financial assets(a) Identify and discuss reasons for valuing businesses and financial assets.(b) Identify information requirements for valuation and discuss the limitations ofdifferent types of information.2 Models for the valuation of shares(a) Asset-based valuation models, including:(i) Net book value (statement of financial position basis)(ii) Net realisable value basis(iii) Net replacement cost basis(b) Income-based valuation models, including:(i) Price/earnings ratio method(ii) Earnings yield method(c) Cash flow based valuation models, including:(i) Dividend valuation model and the dividend growth model(ii) Discounted cash flow basis3 The valuation of debt and other financial assets(a) Apply appropriate valuation methods to:(i) Irredeemable debt(ii) Redeemable debt(iii) Convertible debt(iv) Preference sharesKey teaching pointsModels for the valuation of sharesThe valuation of debt and other financial assetsAssignment207-216 MCQ bank – Business valuations222-226 Phobis Co (12/07, amended)Chapter 18 Market efficiency1 Efficient market hypothesis (EMH) and practical considerations in the valuation of shares(a) Distinguish between and discuss weak form efficiency, semi-strong formefficiency and strong form efficiency.(b) Discuss practical considerations in the valuation of shares and businesses, including:(i) Marketability and liquidity of shares(ii) Availability and sources of information(iii) Market imperfections and pricing anomalies(iv) Market capitalization(c) Describe the significance of investor speculation and the explanations of investor decisions offered by behavioral finance.Key teaching pointsDistinguish between and discuss weak form efficiency, semi-strong form efficiency and strong form efficiency.Discuss practical considerations in the valuation of shares and businessesExam guideMarket efficiency may need to be discussed as part of a business valuation question. Assignment217-221 CBE style OTQ bank – Market efficiencyChapter 19 Foreign currency risk1 The nature and role of money market(a) Describe the role of money markets in:(i) Allowing an organization to manage its exposure to foreign currency risk and interest rate risk2 The nature and types of risk and approaches to risk management(a) Describe and discuss different types of foreign currency risk:(i) Translation risk(ii) Transaction risk(iii) Economic risk3 Causes of exchange rate differences and interest rate fluctuations(a) Describe the causes of exchange rate fluctuations, including:(i) Balance of payments(ii) Purchasing power parity theory(iii) Interest rate parity theory(iv) Four-way equivalence(b) Forecast exchange rates using:(i) Purchasing power parity(ii) Interest rate parity4 Hedging techniques for foreign currency risk(a) Discuss and apply traditional and basic methods of foreign currency risk management, including:(i) Currency of invoice(ii) Netting and matching。
《财务管理学》课程教学大纲
《财务管理学》课程教学大纲一、课程的性质和目的《财务管理学》是会计学专业的一门专业主干课程，是一门研究财务管理基本理论、探讨公司理财实务，以理论为指导，注重实际应用的课程。
本课程是在学完会计基本理论与会计实务的基础上开设的核心专业课。
通过该课程的学习和训练，学生可以理解和掌握财务管理的基本原理、基础知识和基本技能，培养分析和解决实际问题的应用能力，为以后从事实际工作奠定基础。
二、课程的基本要求通过本课程的教学，要求学生掌握财务管理基本概念、基本理论、基本知识、基本方法，注意结合企业会计制度、会计准则相关内容的学习；能够对公司的筹资、投资、资金营运和利润分配活动进行预测、控制、分析；能够熟练运用所学知识对公司理财行为进行判断和决策，以适应企业财务管理工作的要求，并达到全国会计师资格考试的能力水平。
三、课程内容与要求第一章财务管理总论（4学时）1、学习目的和要求通过学习了解财务管理的经济环境、法律环境，熟悉财务管理的环节，掌握财务活动、财务关系所包含的内容、财务管理的目标。
2、课程内容（1）财务管理的内容（2）财务管理的环境（3）财务管理的目标（4）财务管理的环节3、考核知识点和考核要求（1）识记：各种财务管理目标的优缺点；财务管理目标的协调。
（2）领会：财务活动的内容、财务活动的实质。
第二章财务管理的价值观念（4学时）1、学习目的和要求通过学习了解时间价值产生的前提、基础以及风险对策，掌握一次性收付款终值与现值的计算、年金终值与现值的计算、标准离差与标准离差率的计算。
2、课程内容（1）资金的时间价值（2）风险与收益（3）证券股价3、考核知识点和考核要求（1）识记：年金的终值与现值的计算；标准离差与标准离差率的计算。
（2）领会：时间价值的经济实质，风险的含义。
（3）综合应用：普通年金的由来和推导过程；运用统计方法衡量风险大小。
第三章财务分析（4学时）1、学习目的和要求通过学习了解财务分析方法的种类及局限性，掌握公司财务报表的分析技巧。
《财务管理》(一)(双语)课程教学大纲
《财务管理》（一）（双语）课程教学大纲课程代码：FINM2005课程性质：大类基础课程授课对象：财务管理专业开课学期：秋总学时：54学时学分：3学分讲课学时：54学时实验学时：实践学时：指定教材：《现代企业财务管理》，复旦大学出版社，2012年；James C.Van Home，《Fundamentals of Financial Management》（Thirteenth Edition）（影印本），清华大学出版社，2009年参考书目：1．财务管理-实务与案例.陈玉菁。
中国人民大学出版社，2011年2.财务成本管理（第1版）.中国注册会计师协会.财经出版社，2010年3．财务管理.陈玉菁、赵洪进、顾晓安.中国人民大学出版社，2008年4．金融理财原理（上、下）.中国金融教育发展基金会金融理财标准委员会组织.中信出版社，2007年5．公司金融.薛斐.立信会计出版社，2005年6．现代财务管理(原书第11版，中译本第1版).(美）麦圭根（McGuigan,G.R.）, 克雷洛（Kretlow,W.J.），王满译，机械工业出版社，2010年7．公司财务管理（原书第2版，中译本第1版），（美）埃默瑞（Emery,D.R.）,芬纳蒂（Finnerty,J.D.）著，荆新，王化成等译.中国人民大学出版社，2008年8．经理人财务管理——如何创造价值（原书第3版，中译本第1版）.（美）哈瓦维尼（Hawawini,G.）维埃里（Viallet,C.）著，胡玉明，江伟译.中国人民大学出版社，2008年9．财务管理（中译本第1版).（美）韦佛（Weawer,S.C.）, 韦斯顿（Weston,J.F.）著，刘力，黄慧馨译. 中国财政经济出版社，2003年10.公司理财（原书第6版）.[美]罗斯等著.吴世农等译.机械工业出版社，2012年教学目的：本课程介绍企业财务管理的基本理论、基本知识和基本方法。
内容主要包括：财务管理的基本概念，财务管理的目标，财务管理的环境，财务管理的一般方法，资金时间价值及其初步运用，资金成本的基本计算和运用，筹资管理的基本原理和方法，投资管理基本原理和方法，分配管理基本原理和方法，财务预测和财务决策原理，财务计划和财务控制原理，基本财务指标分析等。
财务管理(英语)-教学大纲
《财务管理基础（双语）》教学大纲课程编号：课程类型：专业课总学时：32 讲课学时：32 实验（上机）学时：0 学分：2适用对象：先修课程：财务会计、概率与统计一、课程的教学目标Financial management is a foundation course for undergraduate students in accounting school. Financial management draws on the knowledge acquired in other areas of accounting, including terms and concepts from the fields of financial accounting, managerial economics, and quantitative methods. A solid understanding of basic mathematics and its application in business contexts is required.Financial management emphasizes on the major decisions made by financial executives of an organization. Topics introduced in this course include the following: • Financial planning• Working capital management• Capital budgeting• Strategic decision making• Cost of capital• Security valuation二、教学基本要求1.Teaching RequirementsFirstly, a learning bridge between theory and practice should be built. While teaching, teachers should emphasize on the financial theories and the role in guiding practice. The ability of using theory knowledge to analysis typical financial cases andsolve practical problems should be trained. Thirdly, a variety of teaching methods should be used. Theory teaching should combine with case study and classroom teaching should combine with students’self-study. Various learning methods are encouraged to be adopted to help students to consolidate the learned knowledge.2. Selection Principles of Teaching MaterialsThe content of teaching materials should cover the main points and basic methods of corporate finance and the framework of teaching materials should be universally accepted in China. However, the framework of the teaching materials should be strict in structure and have a clear logic relationship. While explaining the basic theories and methods of finance, the teaching materials should combine those theories with practice to conform the trend. The latest development of corporate finance should also be included in the teaching materials.3. Teaching Method and Grade sTeaching Method: While teaching, the key points should be focused and difficult points should be taught clearly. Modern means of teaching are encouraged to be used. Exercises are used to help students to prepare and review the lessons. Extra newspapers, magazines and website should be provided, and students are encouraged to use these channels to collect information combined with theory principles learned in the class to analyze and solve practical problems. Homework are required to be completed by individuals or discussed in groups according to the difficulty of the problems.Grades:Homework and test in classroom: 30%;Final Examination: 70%.三、各教学环节学时分配教学课时分配四、教学内容Part 1 Introduction of Financial ManagementChapter 1 The Role of Financial ManagementWhat is Financial Management?The Goal of the FirmCorporate GovernanceOrganization of the Financial Management FunctionKey Learning Points：What is Financial Management?The Goal of the FirmObjectives：After Studying Chapter 1, you should be able to: Explain why the role of the financial manager today is so important. Describe "financial management" in terms of the three major decision areas that confront the financial manager.Identify the goal of the firm and understand why shareholders' wealth maximization is preferred over other goals. Understand the potential problems arising when management of the corporation and ownership are separated (i.e., agency problems). Demonstrate an understanding of corporate governance.Discuss the issues underlying social responsibility of the firm. Understand the basic responsibilities of financial managers and the differences between a "treasurer" and a "controller."Questions：1. If all companies had an objective of maximizing shareholder wealth, would people over-all tend to be better or worse off?2. Contrast the objective of maximizing earnings with that of maximizing wealth.3. What is financial management all about?4. Explain why judging the efficiency of any financial decision requires the existence of a goal?5. What are the three major function of the financial manager? How are they related?6. Should the managers of a company own sizable amounts of common stock in the company? Why are the pros and cons?7. As an investor, do you think that some managers are paid too much? Do their rewards come at your expense?8. How does the notion of risk and reward govern the behavior of financial managers?9. What is corporate governance? What role does a corporation’s board of directors play in corporate governance?10. Compare and contrast the role that a firm’s treasurer and controller have in the operation of the firm.Chapter 2 The Business, Tax, and Financial EnvironmentsThe Business EnvironmentThe Tax EnvironmentThe Financial EnvironmentKey Learning Points：The Tax EnvironmentThe Financial EnvironmentObjectives：After Studying Chapter 2, you should be able to: Describe the four basic forms of business organization in the United States – and the advantages and disadvantages of each. Understand how to calculate a corporation's taxable income and how to determine the corporate tax rate - both average and marginal. Understand various methods of depreciation. Understand why acquiring assets through the use of debt financing offers a tax advantage over both common and preferred stock financing. Describe the purpose and make up of financial markets. Demonstrate an understanding of how letter ratings of the major rating agencies help you to judge a security’s default risk. Understand what is meant by the term “term structure of interest rates”and relate it to a “yield curve.”Questions：1. What is the principal advantage of the corporate form of business organization? Discuss the importance of this advantage to the owner of a small family restaurant. Discuss the importance of this advantage to a wealthy entrepreneur who owns several businesses.2. What are some of the disadvantages of (a) a sole proprietorship? (b) a partnership? (c) a limited liability company (LLC)?3. Are individual tax rates progressive or regressive in the sense of increasing or decreasing with income levels?4. The method of depreciation does not alter the total amount deducted from income during the life of an asset. What does it alter and why is that important?5. What is the purpose of financial markets? How can this purpose be accomplished efficiently?6. What is meant by making the financial markets more efficient? More complete?7. What are the major sources of external financing for business firms?8. In addition to financial intermediaries, what other institutions andarrangements facilitate the flow of funds to and from business firms?Part 2 ValuationChapter 3 The Time Value of MoneyThe Interest RateSimple InterestCompound InterestAmortizing a LoanCompounding More Than Once per YearKey Learning Points：Simple InterestCompound InterestObjectives：After Studying Chapter 3, you should be able to: Understand what is meant by "the time value of money." Understand the relationship between present and future value. Describe how the interest rate can be used to adjust the value of cash flows – both forward and backward – to a single point in time. Calculate both the future and present value of: (a) an amount invested today; (b) a stream of equal cash flows (an annuity); and (c) a stream of mixed cash flows.Distinguish between an “ordinary annuity” and an “annuity due.” Use interest factor tables and understand how they provide a shortcut to calculating present and future values. Use interest factor tables to find an unknown interest rate or growth rate when the number of time periods and future and present values are known. Build an “amortization schedule” for an installment-style loan.Questions：1. What is simple interest?2. What is compound interest? Why is it important?3. What kinds of personal financial decisions have you made that involve compound interest?4. What is an annuity? Is an annuity worth more or less than a lump sum payment received now that would be equal to the sum of all the future annuity payment?5. What type of compounding would you prefer in your savings account? Why?6. Contrast the calculation of future (terminal) value with the calculation of present value. What is the difference?7. What is the advantage of using present value tables rather than formulas? Chapter 4 The Valuation of Long-Term SecuritiesDistinctions Among Valuation ConceptsBond ValuationPreferred Stock ValuationCommon Stock ValuationRates of Return (or Yields)Key Learning Points：Bond ValuationPreferred Stock ValuationCommon Stock ValuationObjectives：After Studying Chapter 4, you should be able to: Distinguish among the various terms used to express value. Value bonds, preferred stocks, and common stocks. Calculate the rates of return (or yields) of different types of long-term securities. List and explain a number of observations regarding the behavior of bond prices.Questions：1. What connection, if any, does a firm’s market value have with its liquidationand/or going-concern value?2. Could a security’s intrinsic value to an investor ever differ from the security’s market value? If so, under what circumstances?3. In what sense is the treatment of bonds and preferred stock the same when it comes to valuation?4. A20-year bond has a coupon rate of 8%, and another bond of the same maturity has a coupon rate of 15%. If the bonds are alike in all other respects, which will have the greater relative market price decline if interests increase sharply? Why?5. Why are dividends the basis for the valuation of common stock?6. Why is the growth rate in earnings and dividends of a company likely to taper off in the future? Could the growth rate increase as well? If it did, what would be the effect on stock price?7. Using the constant perpetual growth dividend valuation model, could you havea situation in which a company grows at 30% per year (after subtracting out inflation) forever? Explain.Chapter 5 Risk and ReturnDefining Risk and ReturnUsing Probability Distributions to Measure RiskAttitudes Toward RiskRisk and Return in a Portfolio ContextDiversificationThe Capital Asset Pricing Model (CAPM)Efficient Financial MarketsKey Learning Points：Using Probability Distributions to Measure RiskAttitudes Toward RiskDiversificationThe Capital Asset Pricing Model (CAPM)Objectives：After Studying Chapter 5, you should be able to: Understand the relationship (or “trade-off”) between risk and return. Define risk and return and show how to measure them by calculating expected return, standard deviation, and coefficient of variation. Discuss the different types of investor attitudes toward risk. Explain risk and return in a portfolio context, and distinguish between individual security and portfolio risk. Distinguish between avoidable (unsystematic) risk and unavoidable (systematic) risk and explain how proper diversification can eliminate one of these risks. Define and explain the capital-asset pricing model (CAPM), beta, and the characteristic line. Calculate a required rate of return using the capital-asset pricing model (CAPM). Demonstrate how the Security Market Line (SML) can be used to describe this relationship between expected rate of return and systematic risk. Explain what is meant by an “efficient financial market” and describe the three levels (or forms) of market efficiency.Questions：1. If investors were not risk averse on average, but rather were either risk indifferent (neutral) or even liked risk, would the risk- return concepts presented in this chapter be valid?2. Define the characteristic line and its beta.3. Why is beta a measure of systematic risk? What is its meaning?4. What is the required rate of return of a stock? How can it be measured?5. Is the security market line constant over time? Why or why not?6. Suppose that you are highly risk averse but that you still invest in common stocks. Will the beta of the stocks in which you invest be more or less than 1.0? Why?7. If a security is undervalued in terms of the capital-asset pricing model, whatwill happen if investors come to recognize this undervaluation?Part 3 Tools of Financial Analysis and PlanningChapter 6 Financial Statement AnalysisFinancial StatementsA Possible Framework for AnalysisBalance Sheet RatiosIncome Statement and Income/Balance Sheet RatiosTrend AnalysisCommon-Size and Index AnalysisKey Learning Points：Balance Sheet RatiosIncome Statement and Income/Balance Sheet RatiosObjectives：After Studying Chapter 6, you should be able to: Understand the purpose of basic financial statements and their contents. Understand what is meant by “convergence” in acco unting standards. Explain why financial statement analysis is important to the firm and to outside suppliers of capital. Define, calculate, and categorize (according to liquidity, financial leverage, coverage, activity, and profitability) the major financial ratios and understand what they can tell us about the firm. Define, calculate, and discuss a firm’s operating cycle and cash cycle. Use ratios to analyze a firm's health and then recommend reasonable alternative courses of action to improve the health of the firm.Analyze a firm’s return on investment (i.e., “earning power”) and return on equity using a DuPont approach. Understand the limitations of financial ratio analysis. Use trend analysis, common-size analysis, and index analysis to gainadditional insights into a firm's performance.Questions：1. What is the purpose of a balance sheet? An income statement?2. Why is the analysis of trends in financial ratios important?3. Auxier Manufacturing Company has a current ratio of 4 to 1 but is unable to pay its bills. Why?4. Can a firm generate a 25% return on assets and still be technically insolvent (unable to pay its bills)? Explain.5. The traditional definitions of collection period and inventory turnover are criticized because in both cases balance sheet figures that are a result of approximately the last month of sales are related to annual sales (in the former case) or annual cost of goods sold (in the latter case). Why do these definitions present problems? Suggest a solution.6. Explain why a long-term creditor should be interested in liquidity ratios?7. Which financial ratios would you be most likely to consult if you were the following?a. A banker considering the financial of seasonal inventoryb. A wealthy equity investorc. The manager of a pension fund considering the purchase of a firm’sbondsd. The president of a consumer products firm8. In trying to judge whether a company has too much debt, what financial ratios would you use and for that purpose?9. Why might it be possible for a company to make large operating profits, yet still be unable to meet debt payments when due? What financial ratios might be employed to detect such a condition?10. Does increasing a firm’s inventory turnover ratio increase its profitability? Why should this ratio be computed using cost of goods sold (rather than sales, asis done by some compilers of financial statistics)?Chapter 7 Fund Analysis, Cash-Flow Analysis, and Financial Planning Flow of Funds (Sources and Uses) StatementAccounting Statement of Cash FlowsCash-Flow ForecastingRange of Cash-Flow EstimatesForecasting Financial StatementsKey Learning Points：Forecasting Financial StatementsObjectives：After Studying Chapter 7, you should be able to: Explain the difference between the flow of funds (sources and uses of funds) statement and the statement of cash flows –and understand the benefits of using each. Define "funds" and identify sources and uses of funds. Create a sources and uses of funds statement, make adjustments, and analyze the final results. Describe the purpose and content of the statement of cash flows as well as implications that can be drawn from it. Prepare a cash budget from forecasts of sales, receipts, and disbursements – and know why such a budget should be flexible. Develop forecasted balance sheets and income statements. Understand the importance of using probabilistic information in forecasting financial statements and evaluating a firm's condition.Questions：1. Contrast flow of funds (sources and uses) statements with cash budgets as planning tools.2. What is the purpose of a statement of cash flow?3. Discuss the benefits that can be derived by the firm from cash budgeting.4. Explain why selling inventory to credit customers is considered a source offunds when in fact no “funds” were generated?5. Is depreciation a source of funds? Under what conditions might the “source”dry up?6. Why do bankers closely analyze cash flow statements and/or sources and usesof funds statements in considering credit applications?7. What are the major points of difference between a cash budget and the sourcesand uses of funds statement?8. On what items should the financial manager concentrate in order to improvethe accuracy of the cash budget? Explain your reasoning.9. Why is the sales forecast so important in preparing the cash budget?10. What are the two principal ways by which one can prepare forecast financialstatements?Part 4 Working Capital ManagementChapter 8 Overview of Working Capital ManagementWorking Capital ConceptsWorking Capital IssuesFinancing Current Assets: Short-Term and Long-Term MixCombining Liability Structure and Current Asset DecisionsKey Learning Points：Working Capital ConceptsCombining Liability Structure and Current Asset DecisionsObjectives：After Studying Chapter 8, you should be able to: Explain how the definition of "working capital" differs between financial analysts and accountants. Understand the two fundamental decision issues in working capital management –and the trade-offs involved in making these decisions. Discusshow to determine the optimal level of current assets. Describe the relationship between profitability, liquidity, and risk in the management of working capital. Explain how to classify working capital according to its “components” and according to “time” (i.e., either p ermanent or temporary). Describe the hedging (maturity matching) approach to financing and the advantages/disadvantages of short- versus long-term financing. Explain how the financial manager combines the current asset decision with the liability structure decision.Questions：1. What does working capital management encompass? What functional decisions are involved, and what underlying principle or trade-off influences the decision process?2. Utilities hold 10% of total assets in current assets; retail trade industries hold 60% of total assets in current assets. Explain how industry characteristics account for this difference.3. Distinguish between “temporary” and “permanent” working capital.4. If the firm adopts a hedging (maturity matching) approach to financing, how would it finance its current assets?5. Some firms finance their permanent working capital with short-term liabilities (commercial paper and short-term notes). Explain the impact of this decision on the profitability and risk of these firms.6. Suppose that a firm finances its seasonal (temporary) current assets with long-term funds. What is the impact of this decision on the profitability and risk of this firm?7. At times, long-term interest rates are lower than short-term rates, yet the discussion in the chapter suggests that long-term financing is more expensive. If long-term rates are lower, should the firm finance itself entirely with long-term debt?8. How does shortening the maturity composition of outstanding debt increase the firm’s risk? Why does increasing the liquidity of the firm’s assets reduce the risk?9. What are the costs of maintaining too large a level of working capital? Too small a level of working capital?10. How is a margin of safety provided for in working capital management? Chapter 9 Cash and Marketable Securities ManagementMotives for Holding CashSpeeding Up Cash ReceiptsS-l-o-w-i-n-g D-o-w-n Cash PayoutsElectronic CommerceOutsourcingCash Balances to MaintainInvestment in Marketable SecuritiesKey Learning Points：Cash Balances to MaintainInvestment in Marketable SecuritiesObjectives：After Studying Chapter 9, you should be able to: List and explain the motives for holding cash. Understand the purpose of efficient cash management. Describe methods for speeding up the collection of accounts receivable and methods for controlling cash disbursements. Differentiate between remote and controlled disbursement, and discuss any ethical concerns raised by either of these two methods. Discuss how electronic data interchange (EDI) and outsourcing each relates to a company’s cash collections and disbursements. Identify the key variables that should be considered before purchasing any marketable securities. Define the most common money-market instruments that a marketable securities portfolio manager would consider for investment.Describe the three segments of the marketable securities portfolio and note which securities are most appropriate for each segment and why. Questions：1. Define the function of cash management?2. Explain the concept of concentration banking.3. Explain how the lockbox system can improve the efficiency of cash management.4. Money market instruments are used as investment vehicles for otherwise idle cash. Discuss the most important criterion for asset selection in investing temporarily idle cash.5. Discuss the impact of lockbox banking on corporate cash balance.6. What are compensating ban balance, and why are they not the same for all depositors?7. What is net float? How might a company “play the float” in its disbursements?8. Under what conditions would it be possible for a company to hold no cash or marketable securities? Are these conditions realistic?9. What are the three motives for holding cash?10. What is outsourcing? Why might a company outsource some or all of its cash management processes? What is business processing outsourcing (BPO)? Chapter 10 Accounts Receivable and Inventory ManagementCredit and Collection PoliciesAnalyzing the Credit ApplicantInventory Management and ControlKey Learning Points：Analyzing the Credit ApplicantInventory Management and ControlObjectives：After Studying Chapter 10, you should be able to: List the key factors that can be varied in a firm's credit policy and understand the trade-off between profitability and costs involved. Understand how the level of investment in accounts receivable is affected by the firm's credit policies. Critically evaluate proposed changes in credit policy, including changes in credit standards, credit period, and cash discount. Describe possible sources of information on credit applicants and how you might use the information to analyze a credit applicant. Identify the various types of inventories and discuss the advantages and disadvantages of increasing/decreasing inventories. Describe, explain, and illustrate the key concepts and calculations necessary for effective inventory management and control, including classification, economic order quantity (EOQ), order point, safety stock, and just-in-time (JIT).Questions：1. Is it always good policy to reduce the firm’s bad debts by “getting rid of the deadbeats”?2. Is an increase in the collection period necessarily bad? Explain.3. What are the principal factors that can be varied in setting credit policy?4. If credit standards for the quality of accounts accepted are changed, what things are affected?5. Why is the saturation point reached in spending money on collections?6. What is the purpose of establishing a line of credit for an account? What are the benefits of this arrangement?7. The analysis of inventory policy is analogous to the analysis of credit policy. Propose a measure to analyze inventory policy that is analogous to the aging of accounts receivable.8. What are the principal implications to the financial manager of ordering costs, storage costs, and cost of capital as they relate to inventory?9. Explain how efficient inventory management affects the liquidity and profitability of the firm.10. How can the firm reduce its investment in inventories? What costs might the firm incur from a policy of very low inventory investment?11. Do inventories represent an investment in the same sense as fixed assets?12. Should the required rate of return for investment in inventories of raw materials be the same as that for finished goods?Chapter 11 Short-Term FinancingSpontaneous FinancingNegotiated FinancingFactoring Accounts ReceivableComposition of Short-Term FinancingKey Learning Points：Factoring Accounts ReceivableComposition of Short-Term FinancingObjectives：After Studying Chapter 11, you should be able to: Understand the sources and types of spontaneous financing. Calculate the annual cost of trade credit when trade discounts are forgone. Explain what is meant by "stretching payables" and understand its potential drawbacks. Describe various types of negotiated (or external) short-term borrowing. Identify the factors that affect the cost of short-term borrowing. Calculate the effective annual interest rate on short-term borrowing with or without a compensating balance requirement and/or a commitment fee. Understand what is meant by factoring accounts receivable.Questions：1. Explain why trade credit from suppliers is a “Spontaneous source of funds”.2. Trade credit from suppliers is very costly source of funds when discounts arelost. Explain why many firms rely on this source of funds to finance their temporary working capital.3. Suppose that a firm elected to tighten its trade credit policy from “2/10, net 90”to “2/3f0”. What effect could the firm expect this change to have on its liquidity?4. Why are accrued expenses a more spontaneous source of financing than tradecredit from suppliers?5. Why is the rate on commercial paper usually less than the prime rate chargedby bankers and more than the Treasury bill rate?6. Why would a firm borrow bank funds at higher rates instead of issuingcommercial papers?7. Who is able to issue commercial paper and for what purpose?8. How do bankers’acceptances differ from commercial paper as a means offinancing?9. Compare and contrast a line of credit and a revolving credit agreement.10. Would you rather have your loan on a “collect basis” or a “discount basis” ifyou were a borrower, all other things being the same? If you were a lender?11. What determines whether a lending arrangement is unsecured or secured?12. As a lender, how would you determine the percentage you are willing toadvance against a particular type of collateral?13. As a financial consultant to a company, how would you go aboutrecommending whether to use an assignment of accounts receivable or a factoring arrangement?14. In choosing the composition of short-term financing, what factors should beconsidered?Part 5 Investment in Capital Assets。
西方财务管理（双语）教学大纲
西方财务管理（双语）教学大纲《西方财务管理》教学大纲课程名称：西方财务管理课程编码：B0431044适用专业及层次：会计学专业本科层次课程总学时：48课程总学分：3理论学时：48实践学时：0先修课程：大学英语、管理会计等一、课程的性质、目的与任务本课程是会计学专业的专业方向课，本课程的任务与目的是使学生从理论和应用角度出发，在理论和实践上掌握西方财务管理的主要内容，并与我国的内容相比较，做到融会贯通、取长补短。
同时掌握理财方面的专业术语，为进入外企工作、阅读外文文章和外文专业知识写作打下良好的基础。
二、教学内容、教学要求及教学重难点（一）理论课时教学内容、教学要求及教学重难点CHAPTER 1 Financial Management introduce【教学内容】The introduction to the basic concepts of financial management【教学要求】1．Learning from the development of financial management and financial manager responsibilities , Mastering the goals of financial management.2．Learning from the business organizations styles.3．Understanding finance environment, such as market, agency, interest rate and taxations.【教学重难点】1.Learning from the development of financial management and financial managerresponsibilities , Mastering the goals of financial management.2. Understanding finance environment, such as market, agency, interest rateand taxations.CHAPTER 2 Forecasting, Planning, Controlling【教学内容】Focuses on business forecasting, planning, control, and describes the break-even calculation methods and applications，and leverage degree.【教学要求】1．Mastering the analysis of financial statements,Understanding sales forecasting.2．Mastering the break-even point analysis.3．Mastering total leverage degree, DFL and DOL,Understanding the controlling.【教学重难点】Mastering the analysis of financial statements,Understanding sales forecasting，and Mastering the break-even point analysis.CHAPTER 3 Basic concepts of financial management【教学内容】The introduction of Basic concepts of financial management .【教学要求】1.Learning from risk and earnings, Mastering forecasting earnings ratecalculations.2.Learning from the model of capital and assets pricing.3.Learning from the kinds of annuities, Mastering the calculation of currencytime value.4.Understanding basic estimation methods.【教学重难点】Understanding basic estimation methods.CHAPTER 4 Capital budget【教学内容】Describes the various methods of cost estimates.【教学要求】1.Learning from the capital budget importance, Mastering capital budgetmaking-decision methods.2.Undertanding the cash flows, Mastering projects assessment.【教学重难点】Undertanding the cash flows, Mastering projects assessment.CHAPTER 5 Capital cost , leverage and dividends policies【教学内容】The introduction of the company's cost of capital, leverage policy and dividend distribution policy of the introduction.【教学要求】1.Understanding every capital cost calculation, Mastering the calculations ofweighted average capital cost and marginal cost.2.Mastering optimal capital structure,Learning from capital structure theory.3.Learning from the dividends policies.【教学重难点】Mastering optimal capital structure, Learning from capital structure theory. CHAPTER 6 Operation capital management 【教学内容】The introduction of company's short-term assets and short-term liability management .【教学要求】1.Learning from operation capital strategy, Mastering short-term assetsmanagement.2.Mastering short-term liabilities management.【教学重难点】Mastering short-term liabilities management.CHAPTER 7 Strategic making-decisions of long-term financing【教学内容】Describes the Company's common stock, bankruptcy, corporate restructuring and related financial instruments .【教学要求】1.Understanding the common stock and investment bank transactions.2.Mastering bonds rating, Understanding bankruptcy and reorganization.3.Understanding some financing instruments.【教学重难点】Mastering short-term liabilities management.三、教学章节及学时分配（一）总体学时分配四、教学方法与教学手段说明教师教授主要知识点和专业术语，并进行西方财务管理英语术语练习和应用文写作，并进行课堂英语对话及演讲，同时进行专业术语听力，并对以前的讲解内容进行测验，对外企的财务管理实务进行练习，并重点练习货币时间价值部分和预算部分等。
《财务管理学》-课程教学大纲
《财务管理学》课程教学大纲一、课程基本信息课程代码：16003703课程名称：财务管理学英文名称：Financial Management课程类别：会计学专业课、经济管理类学科基础课学时：48学时学分：3适用对象：高等院校经济管理类非会计专业考试方式：考试先修课程：经济学、管理学、数理统计、金融学、会计学、资产评估、计算机应用基础二、课程简介中文简介财务管理是一门实践性较强的经济管理学科，它阐明财务管理的基本理论和基本方法。
本课程以企业资金运动为核心；以资金时间价值、风险报酬为基本观念；以筹资、投资、资金营运和收益分配为主线，阐述财务管理的基本概念、原则、制度等理论问题以及财务预测、财务决策、财务预算、财务控制、财务分析等业务方法。
本课程是经济管理类专业的共同核心课程，也是财经类各专业的学科专业课。
英文简介Financial management is concerned with the acquisition, financing, and management of assets with some overall goal in mind. The decision function of financial management can be broken into three major areas: the investment, financing, and asset management decision. This course focuses on decision making with an eye toward creating wealth. As such, we will deal with financial decisions such as when to introduce a new product, when to invest in new assets, when to replace existing assets, when to borrow from banks, when to issue stocks or bonds, when to extend credit to a customer, and how much cash to maintain.Financial management is a practical subject which the two basic concepts are the time value of money and risk premium. This course is for students who major in management, finance , and economics.三、课程性质与教学目的《财务管理学》是高等院校经济管理类专业的学科基础课程，也是财经类各专业的学科专业课，会计学专业必修课。
《财务管理学》课程中英文简介
《财务管理学》课程中英文简介Corporate Finance课程代码：040013A/040013B Course Code：040025A/040015A/040012B 040025A/040015A /040012B 040025A/040015A课程名称：财务管理学Course Name：Corporate Finance学时：48/32/80 Periods：48/32/80学分：3/2/5 Credits：3/2/5考核方式：考查/考试Assessment：Inspection/Examination先修课程：Preparatory Courses：成本管理会计学（上）MA1 Management AccountingⅠ本课程是国际会计专业方向的基础财务管理学课程，主要讲授的是财务经理在进行投资、筹资和日常营运管理过程中如何进行财务决策，才能实现股东财富最大化这一企业理财目标。
先修课程为管理会计基础（MA1）。
该课程主要包括以下内容：（1）财务管理学简介；（2）财务环境和其组成要素分析。
（3）证券估价。
（4）利息率和汇率的确定：利息率的影响因素和确定步骤、利率期限结构、风险溢价、汇率的影响因素、购买力平价理论和利率平价理论。
（5）战略决策——资本预算：主要讲授项目现金流的确定、资本预算方法和决策标准、内部报酬率法的优缺点分析、资本限额决策、资本预算决策中的风险分析。
（6）战略决策——资本成本：主要讲授资本结构、个别资本成本（包括债券、优先股、普通股）和综合资本成本的确定。
（7）经营决策——营运资本管理：主要讲授营运资本筹资决策、存货、应收帐款的管理。
（8）财务计划：主要讲授财务计划（或资金需求计划）的编制和分析。
Corporate Finance Fundamentals [FN1] is a fundamental course in managerial finance with an emphasis on the major decisions to be made by the financial executive of an organization. Topics introduced in FN1 include the following parts:Part 1 Introduction to the corporate finance; Part 2 The financial environment，including the financial system, the major intermediaries and the specialized markets; Part 3 Security valuation: Risk-free assets, including the interest rate as an opportunity cost, varying compound intervals and annuities; Part 4 The determinants of interest rates, including the determinants of interest rates, term structure effects; Part 5 Security valuation: Risk-adjusted discount rates, including the determinants of equity prices, the relationship between the price and the expected return; Part 6 Strategic decisions: Capital budgeting and cash flow estimation, including the capital budgeting process, estimating cash flows; Part 7 Strategic decisions: Capital budgeting evaluation criteria, including the NPV rule measures shareholder wealth, alternative capital budgeting criteria; Part 8 Financial planning, including Important elements in financial planning and the benefits of financial planning.《财务管理学》课程中英文简介Financial Management课程代码：040015A Course Code：040015A课程名称：财务管理学Course Name：Financial Management学时：80 Periods：80学分：5 Credits：5考核方式：考试Assessment：Examination先修课程：会计学基础Preparatory Courses：Accounting财务管理学是会计学和注册会计师专业的学科基础课，开设本课程的主要任务是加强学生对财务管理理论与实务的全面、深入了解，培养学生课堂讨论和课外阅读与写作的习惯，引导学生对有关现代企业财务管理问题进行思考，从而培养出适应市场经济需要的中级理财者。
040084A-财务管理学-教学大纲
《财务管理（英语）》教学大纲课程编号：040084A课程类型：专业课总学时：64 讲课学时：64 实验（上机）学时：0 学分：4适用对象：注册会计师（卓越班）先修课程：财务会计、概率与统计一、课程的教学目标Financial management is a foundation course for undergraduate students in accounting school. Financial management draws on the knowledge acquired in other areas of accounting, including terms and concepts from the fields of financial accounting, managerial economics, and quantitative methods. A solid understanding of basic mathematics and its application in business contexts is required.Financial management emphasizes on the major decisions made by financial executives of an organization. Topics introduced in this course include the following: • Financial planning• Working capital management• Capital budgeting• Strategic decision making• Cost of capital• Security valuation二、教学基本要求1.Teaching RequirementsFirstly, a learning bridge between theory and practice should be built. While teaching, teachers should emphasize on the financial theories and the role in guiding practice. The ability of using theory knowledge to analysis typical financial cases andsolve practical problems should be trained. Thirdly, a variety of teaching methods should be used. Theory teaching should combine with case study and classroom teaching should combine with students’ self-study. Various learning methods are encouraged to be adopted to help students to consolidate the learned knowledge.2. Selection Principles of Teaching MaterialsThe content of teaching materials should cover the main points and basic methods of corporate finance and the framework of teaching materials should be universally accepted in China. However, the framework of the teaching materials should be strict in structure and have a clear logic relationship. While explaining the basic theories and methods of finance, the teaching materials should combine those theories with practice to conform the trend. The latest development of corporate finance should also be included in the teaching materials.3. Teaching Method and Grade sTeaching Method: While teaching, the key points should be focused and difficult points should be taught clearly. Modern means of teaching are encouraged to be used. Exercises are used to help students to prepare and review the lessons. Extra newspapers, magazines and website should be provided, and students are encouraged to use these channels to collect information combined with theory principles learned in the class to analyze and solve practical problems. Homework are required to be completed by individuals or discussed in groups according to the difficulty of the problems.Grades:Homework and test in classroom: 30%;Final Examination: 70%.三、各教学环节学时分配教学课时分配四、教学内容Part 1 Introduction of Financial ManagementChapter 1 The Role of Financial ManagementWhat is Financial Management?The Goal of the FirmCorporate GovernanceOrganization of the Financial Management FunctionKey Learning Points：What is Financial Management?The Goal of the FirmObjectives：After Studying Chapter 1, you should be able to: Explain why the role of the financial manager today is so important. Describe "financial management" in terms of the three major decision areas that confront the financial manager.Identify the goal of the firm and understand why shareholders' wealthmaximization is preferred over other goals. Understand the potential problems arising when management of the corporation and ownership are separated (i.e., agency problems). Demonstrate an understanding of corporate governance. Discuss the issues underlying social responsibility of the firm. Understand the basic responsibilities of financial managers and the differences between a "treasurer" and a "controller."Questions：1. If all companies had an objective of maximizing shareholder wealth, would people over-all tend to be better or worse off?2. Contrast the objective of maximizing earnings with that of maximizing wealth.3. What is financial management all about?4. Explain why judging the efficiency of any financial decision requires the existence of a goal?5. What are the three major function of the financial manager? How are they related?6. Should the managers of a company own sizable amounts of common stock in the company? Why are the pros and cons?7. As an investor, do you think that some managers are paid too much? Do their rewards come at your expense?8. How does the notion of risk and reward govern the behavior of financial managers?9. What is corporate governance? What role does a corporation’s board of directors play in corporate governance?10. Compare and contrast the role that a firm’s treasurer and controller have in the operation of the firm.Chapter 2 The Business, Tax, and Financial EnvironmentsThe Business EnvironmentThe Tax EnvironmentThe Financial EnvironmentKey Learning Points：The Tax EnvironmentThe Financial EnvironmentObjectives：After Studying Chapter 2, you should be able to: Describe the four basic forms of business organization in the United States – and the advantages and disadvantages of each. Understand how to calculate a corporation's taxable income and how to determine the corporate tax rate - both average and marginal. Understand various methods of depreciation. Understand why acquiring assets through the use of debt financing offers a tax advantage over both common and preferred stock financing. Describe the purpose and make up of financial markets. Demonstrate an understanding of how letter ratings of the major rating agencies help you to judge a security’s default risk. Understand what is meant by the term “term structure of interest rates”and relate it to a “yield curve.”Questions：1. What is the principal advantage of the corporate form of business organization? Discuss the importance of this advantage to the owner of a small family restaurant. Discuss the importance of this advantage to a wealthy entrepreneur who owns several businesses.2. What are some of the disadvantages of (a) a sole proprietorship? (b) a partnership? (c) a limited liability company (LLC)?3. Are individual tax rates progressive or regressive in the sense of increasing or decreasing with income levels?4. The method of depreciation does not alter the total amount deducted fromincome during the life of an asset. What does it alter and why is that important?5. What is the purpose of financial markets? How can this purpose beaccomplished efficiently?6. What is meant by making the financial markets more efficient? Morecomplete?7. Pick a financial intermediary with which you are familiar and explain itseconomic role. Does it make the financial market more efficient?8. How do transaction costs affect the flow of funds and the efficiency offinancial markets?9. What are the major sources of external financing for business firms?10. In addition to financial intermediaries, what other institutions andarrangements facilitate the flow of funds to and from business firms?Part 2 ValuationChapter 3 The Time Value of MoneyThe Interest RateSimple InterestCompound InterestAmortizing a LoanCompounding More Than Once per YearKey Learning Points：Simple InterestCompound InterestObjectives：After Studying Chapter 3, you should be able to: Understand what is meant by "the time value of money." Understand the relationship between present and future value. Describe how the interest rate can be used to adjust the value ofcash flows – both forward and backward – to a single point in time. Calculate both the future and present value of: (a) an amount invested today; (b) a stream of equal cash flows (an annuity); and (c) a stream of mixed cash flows. Distinguish between an “ordinary annuity” and an “annuity due.” Use interest factor tables and understand how they provide a shortcut to calculating present and future values. Use interest factor tables to find an unknown interest rate or growth rate when the number of time periods and future and present values are known. Build an “amortization schedule” for an installment-style loan. Questions：1. What is simple interest?2. What is compound interest? Why is it important?3. What kinds of personal financial decisions have you made that involve compound interest?4. What is an annuity? Is an annuity worth more or less than a lump sum payment received now that would be equal to the sum of all the future annuity payment?5. What type of compounding would you prefer in your savings account? Why?6. Contrast the calculation of future (terminal) value with the calculation of present value. What is the difference?7. What is the advantage of using present value tables rather than formulas?8. Does present value decrease at a linear rate, at an increasing rate, or at a decreasing rate with the discount rate? Why?9. Does present value decrease at a linear rate, at an increasing rate, or at a decreasing rate with the length of time in the future the payment is to be received? Why?Chapter 4 The Valuation of Long-Term SecuritiesDistinctions Among Valuation ConceptsBond ValuationPreferred Stock ValuationCommon Stock ValuationRates of Return (or Yields)Key Learning Points：Bond ValuationPreferred Stock ValuationCommon Stock ValuationObjectives：After Studying Chapter 4, you should be able to: Distinguish among the various terms used to express value. Value bonds, preferred stocks, and common stocks. Calculate the rates of return (or yields) of different types of long-term securities. List and explain a number of observations regarding the behavior of bond prices.Questions：1. What connection, if any, does a firm’s market value have with its liquidation and/or going-concern value?2. Could a security’s intrinsic value to an investor ever differ from the security’s market value? If so, under what circumstances?3. In what sense is the treatment of bonds and preferred stock the same when it comes to valuation?4. Why does bonds with ling maturities fluctuate more in price than do bonds with short maturities, given the same change in yield to maturity?5. A20-year bond has a coupon rate of 8%, and another bond of the same maturity has a coupon rate of 15%. If the bonds are alike in all other respects, which will have the greater relative market price decline if interests increase sharply? Why?6. Why are dividends the basis for the valuation of common stock?7. Why is the growth rate in earnings and dividends of a company likely to taperoff in the future? Could the growth rate increase as well? If it did, what would be the effect on stock price?8. Using the constant perpetual growth dividend valuation model, could you havea situation in which a company grows at 30% per year (after subtracting out inflation) forever? Explain.Chapter 5 Risk and ReturnDefining Risk and ReturnUsing Probability Distributions to Measure RiskAttitudes Toward RiskRisk and Return in a Portfolio ContextDiversificationThe Capital Asset Pricing Model (CAPM)Efficient Financial MarketsKey Learning Points：Using Probability Distributions to Measure RiskAttitudes Toward RiskDiversificationThe Capital Asset Pricing Model (CAPM)Objectives：After Studying Chapter 5, you should be able to: Understand the relationship (or “trade-off”) between risk and return. Define risk and return and show how to measure them by calculating expected return, standard deviation, and coefficient of variation. Discuss the different types of investor attitudes toward risk. Explain risk and return in a portfolio context, and distinguish between individual security and portfolio risk. Distinguish between avoidable (unsystematic) risk and unavoidable (systematic) risk and explain how proper diversification can eliminate one of these risks. Define and explain thecapital-asset pricing model (CAPM), beta, and the characteristic line. Calculatea required rate of return using the capital-asset pricing model (CAPM).Demonstrate how the Security Market Line (SML) can be used to describe this relationship between expected rate of return and systematic risk. Explain what is meant by an “efficient financial market” and describe the three levels (or forms) of market efficiency.Questions：1. If investors were not risk averse on average, but rather were either riskindifferent (neutral) or even liked risk, would the risk- return concepts presented in this chapter be valid?2. Define the characteristic line and its beta.3. Why is beta a measure of systematic risk? What is its meaning?4. What is the required rate of return of a stock? How can it be measured?5. Is the security market line constant over time? Why or why not?6. Suppose that you are highly risk averse but that you still invest in commonstocks. Will the beta of the stocks in which you invest be more or less than 1.0?Why?7. If a security is undervalued in terms of the capital-asset pricing model, whatwill happen if investors come to recognize this undervaluation?Part 3 Tools of Financial Analysis and PlanningChapter 6 Financial Statement AnalysisFinancial StatementsA Possible Framework for AnalysisBalance Sheet RatiosIncome Statement and Income/Balance Sheet RatiosTrend AnalysisCommon-Size and Index AnalysisKey Learning Points：Balance Sheet RatiosIncome Statement and Income/Balance Sheet RatiosObjectives：After Studying Chapter 6, you should be able to: Understand the purpose of basic financial statements and their contents. Understand what is meant by “convergence” in accounting standards. Explain why financial statement analysis is important to the firm and to outside suppliers of capital. Define, calculate, and categorize (according to liquidity, financial leverage, coverage, activity, and profitability) the major financial ratios and understand what they can tell us about the firm. Define, calculate, and discuss a firm’s operating cycle and cash cycle. Use ratios to analyze a firm's health and then recommend reasonable alternative courses of action to improve the health of the firm. Analyze a firm’s return on investment (i.e., “earning power”) and return on equity using a DuPont approach. Understand the limitations of financial ratio analysis. Use trend analysis, common-size analysis, and index analysis to gain additional insights into a firm's performance.Questions：1. What is the purpose of a balance sheet? An income statement?2. Why is the analysis of trends in financial ratios important?3. Auxier Manufacturing Company has a current ratio of 4 to 1 but is unable to pay its bills. Why?4. Can a firm generate a 25% return on assets and still be technically insolvent (unable to pay its bills)? Explain.5. The traditional definitions of collection period and inventory turnover are criticized because in both cases balance sheet figures that are a result ofapproximately the last month of sales are related to annual sales (in the former case) or annual cost of goods sold (in the latter case). Why do these definitions present problems? Suggest a solution.6. Explain why a long-term creditor should be interested in liquidity ratios?7. Which financial ratios would you be most likely to consult if you were the following?a. A banker considering the financial of seasonal inventoryb. A wealthy equity investorc. The manager of a pension fund considering the purchase of a firm’sbondsd. The president of a consumer products firm8. In trying to judge whether a company has too much debt, what financial ratios would you use and for that purpose?9. Why might it be possible for a company to make large operating profits, yet still be unable to meet debt payments when due? What financial ratios might be employed to detect such a condition?10. Does increasing a firm’s inventory turnover ratio increase its profitability? Why should this ratio be computed using cost of goods sold (rather than sales, as is done by some compilers of financial statistics)?Chapter 7 Fund Analysis, Cash-Flow Analysis, and Financial PlanningFlow of Funds (Sources and Uses) StatementAccounting Statement of Cash FlowsCash-Flow ForecastingRange of Cash-Flow EstimatesForecasting Financial StatementsKey Learning Points：Forecasting Financial StatementsObjectives：After Studying Chapter 7, you should be able to: Explain the difference between the flow of funds (sources and uses of funds) statement and the statement of cash flows – and understand the benefits of using each. Define "funds" and identify sources and uses of funds. Create a sources and uses of funds statement, make adjustments, and analyze the final results. Describe the purpose and content of the statement of cash flows as well as implications that can be drawn from it. Prepare a cash budget from forecasts of sales, receipts, and disbursements – and know why such a budget should be flexible. Develop forecasted balance sheets and income statements. Understand the importance of using probabilistic information in forecasting financial statements and evaluating a firm's condition.Questions：1. Contrast flow of funds (sources and uses) statements with cash budgets as planning tools.2. What is the purpose of a statement of cash flow?3. Discuss the benefits that can be derived by the firm from cash budgeting.4. Explain why selling inventory to credit customers is considered a source of funds when in fact no “funds” were generated?5. Is depreciation a source of funds? Under what conditions might the “source” dry up?6. Why do bankers closely analyze cash flow statements and/or sources and uses of funds statements in considering credit applications?7. What are the major points of difference between a cash budget and the sources and uses of funds statement?8. On what items should the financial manager concentrate in order to improve the accuracy of the cash budget? Explain your reasoning.9. Why is the sales forecast so important in preparing the cash budget?10. What are the two principal ways by which one can prepare forecast financialstatements?Part 4 Working Capital ManagementChapter 8 Overview of Working Capital ManagementWorking Capital ConceptsWorking Capital IssuesFinancing Current Assets: Short-Term and Long-Term MixCombining Liability Structure and Current Asset DecisionsKey Learning Points：Working Capital ConceptsCombining Liability Structure and Current Asset DecisionsObjectives：After Studying Chapter 8, you should be able to: Explain how the definition of "working capital" differs between financial analysts and accountants. Understand the two fundamental decision issues in working capital management – and the trade-offs involved in making these decisions. Discuss how to determine the optimal level of current assets. Describe the relationship between profitability, liquidity, and risk in the management of working capital.Explain how to classify working capital according to its “components” and according to “time” (i.e., either permanent or temporary). Describe the hedging (maturity matching) approach to financing and the advantages/disadvantages of short- versus long-term financing. Explain how the financial manager combines the current asset decision with the liability structure decision.Questions：1. What does working capital management encompass? What functionaldecisions are involved, and what underlying principle or trade-off influences thedecision process?2. Utilities hold 10% of total assets in current assets; retail trade industries hold 60% of total assets in current assets. Explain how industry characteristics account for this difference.3. Distinguish between “temporary” and “permanent” working capital.4. If the firm adopts a hedging (maturity matching) approach to financing, how would it finance its current assets?5. Some firms finance their permanent working capital with short-term liabilities (commercial paper and short-term notes). Explain the impact of this decision on the profitability and risk of these firms.6. Suppose that a firm finances its seasonal (temporary) current assets with long-term funds. What is the impact of this decision on the profitability and risk of this firm?7. At times, long-term interest rates are lower than short-term rates, yet the discussion in the chapter suggests that long-term financing is more expensive. If long-term rates are lower, should the firm finance itself entirely with long-term debt?8. How does shortening the maturity composition of outstanding debt increase the firm’s risk? Why does increasing the liquidity of the firm’s assets reduce the risk?9. What are the costs of maintaining too large a level of working capital? Too small a level of working capital?10. How is a margin of safety provided for in working capital management? Chapter 9 Cash and Marketable Securities ManagementMotives for Holding CashSpeeding Up Cash ReceiptsS-l-o-w-i-n-g D-o-w-n Cash PayoutsElectronic CommerceOutsourcingCash Balances to MaintainInvestment in Marketable SecuritiesKey Learning Points：Cash Balances to MaintainInvestment in Marketable SecuritiesObjectives：After Studying Chapter 9, you should be able to: List and explain the motives for holding cash. Understand the purpose of efficient cash management. Describe methods for speeding up the collection of accounts receivable and methods for controlling cash disbursements. Differentiate between remote and controlled disbursement, and discuss any ethical concerns raised by either of these two methods. Discuss how electronic data interchange (EDI) and outsourcing each relates to a company’s cash collections and disbursements. Identify the key variables that should be considered before purchasing any marketable securities. Define the most common money-market instruments that a marketable securities portfolio manager would consider for investment. Describe the three segments of the marketable securities portfolio and note which securities are most appropriate for each segment and why. Questions：1. Define the function of cash management?2. Explain the concept of concentration banking.3. Explain how the lockbox system can improve the efficiency of cash management.4. Money market instruments are used as investment vehicles for otherwise idle cash. Discuss the most important criterion for asset selection in investing temporarily idle cash.5. Discuss the impact of lockbox banking on corporate cash balance.6. What are compensating ban balance, and why are they not the same for all depositors?7. What is net float? How might a company “play the float” in its disbursements?8. Under what conditions would it be possible for a company to hold no cash or marketable securities? Are these conditions realistic?9. What are the three motives for holding cash?10. What is outsourcing? Why might a company outsource some or all of its cash management processes? What is business processing outsourcing (BPO)? Chapter 10 Accounts Receivable and Inventory ManagementCredit and Collection PoliciesAnalyzing the Credit ApplicantInventory Management and ControlKey Learning Points：Analyzing the Credit ApplicantInventory Management and ControlObjectives：After Studying Chapter 10, you should be able to: List the key factors that can be varied in a firm's credit policy and understand the trade-off between profitability and costs involved. Understand how the level of investment in accounts receivable is affected by the firm's credit policies. Critically evaluate proposed changes in credit policy, including changes in credit standards, credit period, and cash discount. Describe possible sources of information on credit applicants and how you might use the information to analyze a credit applicant. Identify the various types of inventories and discuss the advantages and disadvantages of increasing/decreasing inventories. Describe, explain, and illustrate the key concepts and calculations necessary for effective inventory management andcontrol, including classification, economic order quantity (EOQ), order point, safety stock, and just-in-time (JIT).Questions：1. Is it always good policy to reduce the firm’s bad debts by “getting rid of the deadbeats”?2. Is an increase in the collection period necessarily bad? Explain.3. What are the principal factors that can be varied in setting credit policy?4. If credit standards for the quality of accounts accepted are changed, what things are affected?5. Why is the saturation point reached in spending money on collections?6. What is the purpose of establishing a line of credit for an account? What are the benefits of this arrangement?7. The analysis of inventory policy is analogous to the analysis of credit policy. Propose a measure to analyze inventory policy that is analogous to the aging of accounts receivable.8. What are the principal implications to the financial manager of ordering costs, storage costs, and cost of capital as they relate to inventory?9. Explain how efficient inventory management affects the liquidity and profitability of the firm.10. How can the firm reduce its investment in inventories? What costs might the firm incur from a policy of very low inventory investment?11. Do inventories represent an investment in the same sense as fixed assets?12. Should the required rate of return for investment in inventories of raw materials be the same as that for finished goods?Chapter 11 Short-Term FinancingSpontaneous FinancingNegotiated FinancingFactoring Accounts ReceivableComposition of Short-Term FinancingKey Learning Points：Factoring Accounts ReceivableComposition of Short-Term FinancingObjectives：After Studying Chapter 11, you should be able to: Understand the sources and types of spontaneous financing. Calculate the annual cost of trade credit when trade discounts are forgone. Explain what is meant by "stretching payables" and understand its potential drawbacks. Describe various types of negotiated (or external) short-term borrowing. Identify the factors that affect the cost of short-term borrowing. Calculate the effective annual interest rate on short-term borrowing with or without a compensating balance requirement and/or a commitment fee. Understand what is meant by factoring accounts receivable.Questions：1. Explain why trade credit from suppliers is a “Spontaneous source of funds”.2. Trade credit from suppliers is very costly source of funds when discounts are lost. Explain why many firms rely on this source of funds to finance their temporary working capital.3. Suppose that a firm elected to tighten its trade credit policy from “2/10, net 90” to “2/3f0”. What effect could the firm expect this change to have on its liquidity?4. Why are accrued expenses a more spontaneous source of financing than trade credit from suppliers?5. Why is the rate on commercial paper usually less than the prime rate charged by bankers and more than the Treasury bill rate?6. Why would a firm borrow bank funds at higher rates instead of issuingcommercial papers?7. Who is able to issue commercial paper and for what purpose?8. How do bankers’ acceptances differ from commercial paper as a means offinancing?9. Compare and contrast a line of credit and a revolving credit agreement.10. Would you rather have your loan on a “collect basis” or a “discount basis” ifyou were a borrower, all other things being the same? If you were a lender?11. What determines whether a lending arrangement is unsecured or secured?12. As a lender, how would you determine the percentage you are willing toadvance against a particular type of collateral?13. As a financial consultant to a company, how would you go aboutrecommending whether to use an assignment of accounts receivable or a factoring arrangement?14. In choosing the composition of short-term financing, what factors should beconsidered?Part 5 Investment in Capital AssetsChapter 12 Capital Budgeting and Estimating Cash FlowsThe Capital Budgeting ProcessGenerating Investment Project ProposalsEstimating Project “After-Tax Incremental Operating Cash Flows”Key Learning Points：Estimating Project “After-Tax Incremental Operating Cash Flows”Objectives：After Studying Chapter 12, you should be able to: Define capital budgeting and identify the steps involved in the capital budgeting process. Explain the procedure to generate long-term project proposals within the firm. Justify why。
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《财务管理学》教学大纲
一、课程基本信息
课程中文名称：财务管理学
课程英文名称：Financial Management
课程编码：20000006
课程类型：学科基础课
总学时：56 理论学时：56 实验学时：0
学分： 3
适用专业：会计学
先修课程：《会计学原理》、《企业会计学》
开课院系：管理学院会计教研室
二、课程的性质与任务
本课程是会计学专业的学科基础课。
通过本课程的学习，使同学们了解财务管理的基本理论框架，掌握企业筹资管理、投资管理、日常经营管理、利润分配管理以及财务分析的主要内容和基本方法，为进一步学习专业课程打下坚实的基础。
三、理论教学内容和基本要求
Chapter 1 The Role of Financial Management
Know about what is financial management and organization of the financial management function; Understand the goal of the firm.
Chapter 2 The Business, Tax, and Financial Environments
Know about the business, tax, and financial environments of the firm.
Chapter 3 Time Value of Money
Know about the concept of the time value of money and types of annuities; Master the calculation of future value and present value of a single fund or an annuity.
Chapter 4 The Valuation of Long-Term Securities
Know about the distinctions among valuation; Understand the principle of security valuation; Master the methods of bond valuation, preferred stock valuation and common stock valuation.
Chapter 5 Risk and Return
Know about the definition of risk and return, and attitudes toward risk; Understand risk and return in a portfolio context, and diversification; Master how to use probability distributions to measure risk, and the using of the capital asset pricing model (CAPM).
Chapter 6 Financial Statement Analysis
Know about a possible framework for analysis; Understand financial statement; Master ratio analysis, trend analysis, and common-size and index analysis.
Chapter 7 Overview of Working Capital Management
Know about working capital concepts and working capital issues; Understand strategies of financing current assets.
Chapter 8 Cash and Marketable Securities Management
Know about motives for holding cash, and content of cash and marketable securities management.
Chapter 9 Accounts Receivable and Inventory Management
Know about the cost of holding accounts receivable and inventory, and the goal of accounts receivable and inventory management; master how to formulate credit and collection, and how to analyze the credit applicant, and methods of inventory control.
Chapter 10 Short-Term Financing
Know about composition of short-term financing; Understand merits and shortcomings of trade credit, stand-alone commercial paper and short-term business loans. Master computation of the cost of trade credit.
Chapter 11 Capital Budgeting and Estimating Cash Flows
Know about the capital budgeting process, and composition of a project’s cash flow; Master how to estimate Project After-Taxt Incremental Operating Cash Flows.
Chapter 12 Capital Budgeting Techniques
Know about the basic procedure of project evaluation and selection, and project monitoring and post-completion audit; Master calculation and using of PBP, IRR, NPV and PI.
Chapter 13 The Cost of Capital
Understand the concept and content of the cost of capital; Master the calculation of the cost of various types of capital.
Chapter 14 Operating ad Financial Leverage
Understand the concepts and functions of operating leverage, Financial leverage and total leverage; Master the calculation of DOL, DFL and DTL, and break-even analysis.
Chapter 15 Capital Structure Determination
了解有关资本结构的主要理论观点；理解资本结构的含义、种类和意义；掌握资本结构的决策方法，包括资本成本比较法、每股盈余分析法和公司价值比较法的原理及其应用。
Chapter 16 Dividend Policy
了解利润分配的内容和程序、股利分配的形式；理解股利理论的基本内容、影响公司股利分配政策的因素；掌握股份公司的主要股利政策。
Chapter 17 Long-Term Debt, Preferred Stock, and Common Stock
了解债券和普通股的种类；理解各种债券、普通股和优先股的特点。
Chapter 18 Term Loans and Leases
了解定期贷款的种类、银行借款的信用条件，理解定期贷款和租赁筹资的优缺点。
四、学时数分配
学习成绩由平时作业与课堂测验、考勤和期末考试三部分成绩综合评定。
平时作业与课堂测验成绩占总成绩的20%。
要求学生按进度安排完成规定的作业，并在规定时间内提交作业。
考勤占总成绩的10%。
期末考试占总成绩的70%。
考试题型为单项选择题、多项选择题、判断题、填空题和计算题。
覆盖教学大纲规定章节的85%以上。
六、建议教材及主要教学参考书
教材：Fundamentals of Financial Management(10th Edition), Van
Horne/Wachowicz, 清华大学出版社2005年版。
参考书：《财务管理学》第五版，荆新，王化成编著，中国人民大学出版社2009年出版。