FACULTY: BUSINESS ADMINISTRATION IN FOREIGN LANGUAGES CHAIR: FINANCE COURSE: FINANCIAL MANAGEMENT FOR BUSINESSES - Master Program TEACHER:

PROF.DR. ANAMARIA CIOBANU COURSE AND SEMINARS STRUCTURE Year 2010/2011 No.book/ Data Exercices/Problemes/Case studies No.chapter1 B1/ch.1 B2/pg. 3-33 B3/pg.22-36 B4/ch.1 Art.1 B2/pg.133-154 B2/pg.560-563 B3/ch.4 B4/pg.33-40 Ch5 B2/pg.112-116 B2/pg.478-480 B3/pg.37-40 B4/pg.25-27 Week 4-10 Oct. Introductory Seminar Business plan structure

Lectures theme 1. Basics in Management Business Plan Financial and the

Issue covered Principles and the goal of Corporate Finance Business plan structure Liquidity ratios Asset Management ratios Profitability ratios Financial leverage ratios and coverage ratios (Debt utilization ratios) Market value ratios Payout policy ratios Margin Analysis Breakeven point analysis Operating leverage analysis Case studies: B7/Case 6 Holly Fashion B7/Case 9 Palmetto Soup Operational cycle Cash conversion cycle Sources of short term financing B7/Case 17 Horton Building Supplies The cash balance (cash budget) Managing operating funds B7/Case 15 - Deerpark Sustainable growth rate Income statement projection Balance sheet projection

Home work

2. Ratio analysis and Break Even Analysis (I)

Week 11-27 Oct.

B7/ Case 4 Helping Hands B7/Case 10 - Friends

B7/ Case 4 Helping Hands B7/Case 10 - Friends

3. Ratio analysis and Break Even Analysis (II) 4. Working Management Capital

Week 18-24 Oct. B2/pg.165-177 B2/pg.185-190 B4/pg.209-212 B5/cap. 4 B2/pg.177-184 B3/ch.3 B3/pg.174-178 B5/cap. 5 Ch.4 B3/ch.5,6 Week 25-31 Oct.

Mini-cases on Ratio analysis and Break Even Analysis B7/Case 16 Reeds Clothier, Inc.

B7/Case 6 Holly Fashion B7/Case 9 Palmetto Soup B7/Case 16 Clothier, Inc. B7/Case 17 Building Supplies Reeds Horton

5. Cash Budgeting

Week 1-7 Nov. Week 8-14 Nov.

B7/Case 14 Triad Campers Mini cases on Cash budgeting B7/Case 12 Topeka Adhesives (I)

B7/Case 14 Triad Campers B7/Case 15 - Deerpark B7/Case 12 Adhesives (I) Topeka

6. Financial Statements Forecasting (I)

Capitolul din manualul(manualele) specificat(e) la bibliografie n programa analitic.

7. Financial Statements Forecasting (II) 8. Analysis of long term financing decisions. Cost of equity (I) 9. Analysis of long term financing decisions. Cost of equity (II) 10. Analysis of long term financing decisions. Cost of credit (loans and bonds). 11. Analysis of long term financing decisions. Cost of leasing. 12. Recap - Cost of Capital Equity, Credit, Bonds and Leasing 12. Capital optimal structure and the company value 13. Exam Recap

Case study B7/Case 13 Topeka Adhesives (II) CAPM Beta Risk free rate Cost of equity Risk premium estimation Cost of debts (loans and bond issues)

Week 15-21 Nov. B2/pg.407-455 B8/ch.4 Ch.3 B8/ch.7,8 Ch.3 B2/pg.259-274 B5/cap.12 Week 22-28 Nov. Week 29 Nov-5 Dec. Week 6-12 Dec.

Mini cases on Financial Statements Forecasting B7/Case 30 Taylor Brands Short problems Estimating cost of equity Short problems Estimating cot of debt B7/Case 30 Taylor Brands Short problems Estimating cost of equity B7/Case 31 Wonder Bars

Rent estimation and the cost of leasing B7/Case 44 Morrow Construction Mini cases Weighted Average Cost Capital and company value of

B2/pg.548-557 B5/cap.12

Week 13-19 Dec. Week 2-8 Ian.

B7/Case 45 Stinson Paving

B7/Case 44 Morrow Construction B7/Case 45 Stinson Paving

Ch.8 (B6)

Week 9-15 Ian. Week 16-22 Ian.

B7/Case 32 - Fultex

Books recommended: B1. Brealey R., Myers S. Principles of corporate finance, The McGraw Hill Companies, 2003 (search on www.esnips.com) B2. Brealey R., Myers S., Marcus A. Fundamentals of Corporate Finance, The McGraw Hill Companies, 2001 (search on www.esnips.com) B3. Helfert, E. Financial analysis tools and techniques, a guide for managers, The McGraw Hill Companies, 2001, (search on www.esnips.com) B4. Ross, S., R. Westerfield, J. Jaffe Corporate Finance, Irwin, 2002 (search on www.esnips.com) B5. Dragot, V.; Dragot, M.; Obreja, L.; u, L.; Ciobanu, A.; Raca, A., Abordri practice n finanele firmei, Ed. IRECSON, Bucureti, 2005 B6. Damodaran, A. Applied Corpoate Finance A Users Manua, 2nd ed, John Wiley & Sons, 2005 (search on www.esnips.com) B7. Sulock J.M, Dunkelberg J.S. Cases in Financial Management, 2nd ed., John Wiley & Sons, 1997 (search on www.esnips.com) Ch.3 Cost of capital Ch.4 Financial planning and Forecasting Ch.5 Analysis of financial statements Reviewing and assessing financial information Ch.8 Optimal Capital Structure