复旦大学课程教学大纲

Course Syllabus

Course code

ECON130046.01

Compiled date

2016.11

Course title (Chinese)

财务管理

Course title (English)

Financial Management　

Credits

3

Total hours

60

Instructor

Sun Lin

Department

School of Economics

Semester

Contact email

Prerequisite courses

Accounting, Fundamentals of Management

(A) Classification of the course

Comprehensive □ Fundamental □

Compulsory √ Elective □

(B) Course objectives and contents

Course description and teaching achievements

Financial Management is a professional basic course of the following specialties in the undergraduate level of Fudan University, Accounting, Corporate Finance, Fiscal Science, Finance, etc. It’s also a public course of other related disciplines. Financial Management is a course of high policy, theory and practice which highlights the characteristic of open education and makes students fully grasp the course content and achieve mastery through a comprehensive study by the use of modern multimedia education approach.

In the past five years, a series of effective programs have been carried out in the reform of Financial Management, with particular emphasis on the construction of online courses and micro courses and the promotion of resource sharing. As early as in 2010, Fudan University's quality course platform had established a website on Financial Management, the course content using modular organization method (foundation, financing, investment and distribution) with openness and scalability. As of early 2016, we have shot all the teaching videos of Financial Management, which laid a solid foundation for the application of multimedia teaching. At the same time, Financial Management also received the relevant teaching achievement awards (in 2013, "Financial Management Course Construction and Experiential Case Teaching Application Research" received second prize of Shanghai municipal teaching achievement in higher education; in 2015, Financial Management was awarded "Shanghai Municipal Education Commission Undergraduate Key Courses " in Fudan University).

The existing achievements focus on the construction of multidimensional financial management personnel training mode "3 + x", which covers basic theory teaching, experiential case teaching, financial management practices and cross-curricular integration (see Figure 1), emphasizing the student-centered teaching philosophy.

Figure 1 "3 + x" Multidimensional Financial Management Personnel Training Mode

The mode highlights the characteristics of localized financial management of enterprises. Based on the experiential case teaching, it takes changes of financial markets, the impact of tax system and the need for strategic management into account when use modern corporate finance principal for investment and financing decisions, according to the characteristics of the object and specific issues. It uses basic theory and basic methods to do practical analysis, integrating forefront of financial management (such as resource and capacity-based strategic management model) and related academic expertise (such as effect analysis of mergers and acquisitions) into teaching content and curriculum system organically.

Teaching Objectives

In process of learning Financial Management, students need to understand the financial decision-making process, such as raising funds, using funds, spending funds, recovering funds, etc., and get familiar with all kinds of financial relationships and basic theory of financial management, master the basic methods of investment and financing decision-making and related basic principles. In addition, it is necessary to do a large number of exercises to master the basic methods of financial management, and ultimately to apply basic theories and methods of financial management to analyze and solve practical problems of financial management.

Basic Knowledge Module

Financial Management generally consists of fundamentals, financing, investment, profit distribution and financial evaluation, etc.

1. General

Chapter 1 of this module focuses on the objectives of financial management, the basic concepts and basic methods of corporate financial management and financial management environment, etc. To learn this part, it is required to grasp the concept of financial management and financial management objectives, major representative points of view and advantages and disadvantages, and be familiar with the principles of financial management; understand the primary methods of financial management, based on the understanding of the objective existence of financial activities. Chapter 3 of this module requires a comprehensive and profound understanding of the two concepts of time value and risk reward, including the meaning of time value of money, economic essence and related calculation, the concept, category and determined factors of interest rate. Besides, it is required to understand the composition, type and role of cost of capital, master measurement methods of individual cost of capital and comprehensive capital cost, as well as Cost-Volume-Profit Analysis, and the definition and measurement of risk compensation.

2. Analysis of financing decision

This module introduces financial forecasting, financial budgeting, leverage analysis and capital structure decisions.

In chapter 4, the basic basis to forecast the amount of corporate financing demand including business scale, registered capital requirements and liabilities of capital limits, and the main forecast methods including Factor Analysis, Percentage of Sales, and Linear Regression, etc. will be introduced.

Through the learning of chapter 5, chapter 6, chapter 7, students will understand the basic motives and principles of corporate financing, understand the different types of corporate financing, be familiar with the financing environment and its impact on financing, grasp the concept of equity financing and debt financing, grasp the basic basis to forecast the amount of corporate financing demand and cost decision-making methods of giving up cash discount.

Chapter 8 mainly introduces leveraged interests and risk and capital structure decision. Through learning this chapter, students will understand the principle of the three leverages, master the calculation method of leverage coefficients and its application, and understand the content, category and meaning of capital structure, and its determined factors and qualitative analysis, thus master the principle of capital structure decision-making and its application. Besides, the analysis and judgment on actual corporate capital structure make students think about the differences between theory and practice and the reasons, then make them understand the impact of theoretical assumption premise on conclusions and the differences released from research assumptions, thus help to achieve the teaching purpose of connecting theory with practice.

3. Analysis of investment decision

This module mainly introduces the concept and types of investment and investment environment analysis. Through the study of this module, students can understand the significance of investment activities for enterprises and investment classification; familiarize themselves with the important contents of investment environment; master several commonly used methods of investment evaluation and valuation analysis on stock and bond.

In Chapter 9, it is required to master the composition and calculation of cash flow, the calculation methods of various investment decision-making indicators, decision rules, comparisons of each other and specific applications, as well as risk investment decision analysis.

In Chapter 10, it is required to understand related issues about fixed asset investment management, be familiar with the characteristics of fixed asset investment, and master the fixed asset investment decision-making methods such as net present value method, the average annual cost method, etc.

Chapter 11 introduces the purpose, characteristics and principles of long-term foreign investment, and mainly expounds the basic theories and methods of foreign direct investment and foreign securities investment. Through this chapter, students will learn the decision-making procedures and investment methods of foreign direct investment, master the valuation of stock and bond investment, the influence factors of price and the calculation of profit and the rate of return, and understand the types of portfolio.

Chapter 12 mainly introduces the concept and characteristics of working capital and decision-making methods. The study of this chapter will help students master the concept and characteristics of working capital, understand the management principles of working capital, master investment decision-making methods of accounts receivable, inventory and cash management.

4. Analysis of profit distribution decision

This module introduces the profit distribution process, the company's dividend policy, and the relationship between investment and financing and profit distribution.

In chapter 13, it is required to understand the basic procedures for corporate profit distribution, master the main dividend policy and its influence factors, learn about the general principles of corporate profit distribution.

5. Analysis of financial performance evaluation

This module mainly introduces how to analyze and evaluate the enterprise operating results, which is the decision basis of making investment and financing decision, emphasizes the integrated use of financial and non-financial information.

In chapter 14, students will learn to use modern corporate finance principles to make investment and financing decisions according to the characteristics of objects and specific issues, and do practical analysis with basic theory and methods, taking into account changes of financial markets, the impact of the tax system, enterprise strategic management needs, etc.

(C) Textbooks and references (at least five)

NO.

Author

Title

Publisher

Year

1

Sun Lin

Financial Management, 3rd edition

Fudan University Press

2015.02

2

Shanghai National Accounting Institute

Financial Strategy

Economic Science Press

2011.05

3

James C. Van Horne

Financial Management and Policy

Dongbei University of Finance and Economics Press

2006.12

4

Shen Lie

Research on Accounting Standards and Earnings Management of Listed Companies

Economic Science Press

2010.04

5

Enterprise Accounting Standards Editorial Committee

Case Explanation of Accounting Standard for Business Enterprises, year 2011 edition

Lixin Accounting Press

2011.02

6

Wei Suyan

Enterprises Financial Analysis

Tsinghua University Press

2011.04

(D) Teaching arrangement and key points

Chapter

Hour

Contents and key points

Text/

reference

Homework and questions

Chapter 1

General

3

By the introduction to the profile, understand the basic concept and the core content of financial management.

Financial Management, 3rd edition

Read the development history of financial management and the development key point of financial management in different periods at home and abroad.

Chapter 2 Financial Management Environment

3

By the introduction to financing environment, understand the influence of the change of internal and external financial management to enterprise financing decision.

Financial Management, 3rd edition, Financial Strategy

With the help of media material, understand the major effect of the change in related macroeconomic environment to different industries and different enterprises.

Chapter 3

The Basic Concept and Method of Financial Management

6

By the introduction to the basic concept and method of financial management, grasp the time value of money principle, CVP analysis method, the influence factors of the cost of capital as well as the risk measure and the meaning of risk/reward.

Financial Management and Policy

Time value of money method; The cost of debt capital, the cost of equity capital, the overall cost of capital; CVP methods; Risk measurement and convenient payment.

Chapter 4

Financial Management Forecast and Plan

3

By the introduction to financial management forecast and plan, grasp the financial management trend prediction method, percentage of sales method and other forecasting method, and grasp the content of the comprehensive budget, the compilation of cash budget, as well as the relation and distinction between operating budget and financial budget.

Enterprises Financial Analysis

Trend analysis method; Sales percentages method; Exponential smoothing method; The compilation process of Cash budget;

Chapter 5 Financial Management Profile

3

By learning the basic concept of financing management and the content of equity financing, combined with the case reports around the theme, get the understanding of economic phenomena in practice, apply financial management analysis method understand the channels and means of enterprise financing as well as the effect of financing, etc.

Financial Management and Policy

Case report

Chapter 6

The Financing Decision of Equity Capital

3

Chapter 7

The Financing Decision of Debt Capital

3

By the introduction to debt financing, understand the advantages and disadvantages of debt financing, grasp the main basis of debt financing decision, etc.

Financial Management and Policy

Giving up cash discount cost decision

Chapter 8

Capital Structure Decision

6

By the introduction to capital structure decision, grasp capital structure theory and the use of best capital structure decision method.

Financial Strategy

Net income per share indifference point method, corporate value method, etc.

Chapter 9 Investment Management Profile

3

By the introduction to investment management profile, grasp the investment evaluation method considering time value of money and the method not considering time value of money, grasp the use of net present value method mainly.

Financial Management and Policy

Net present value method, present value index method and internal return rate method

Chapter 10 Project Investment Decision

6

By the introduction to project investment decision, grasp the application of the main methods of fixed assets investment decision (eg. net present value method, average annual cost method, etc.)in practice, investment and development time decision, construction period of investment decision and capital ration decision.

Financial Management and Policy

Fixed assets investment decision, investment and development time decisions.

Chapter 11 Securities Investment Decision

6

By the introduction to securities investment decision, grasp the main stock valuation models, the main bond valuation models, the concept and basic classification of fund, the securities investment combination methods, etc.

Financial Management and Policy

Stock valuation method; Bond valuation method, etc.

Chapter 12 Working Capital Management

3

By the introduction to working capital management, grasp the best economic batch of inventory model and inventory daily control method, credit policy and collection policy choice of accounts receivable and cash management, etc.

Best economic batch of inventory model; Credit policy choice of accounts receivable; Optimal cash holdings;

Chapter 13

Profit Distribution Decision

3

By the introduction to profit allocation decision, understand the related theory of dividend policy, grasp the type of dividend policy, the order of profit distribution and dividend payment modes and their relation and difference.

Financial Strategy, Research on Accounting Standards and Earnings Management of Listed Companies

The type of dividend policy; The influence factors of corporate profits;

Chapter Fourteen Comprehensive Financial Analysis

3

By the introduction to comprehensive financial analysis, understand the basic principle and method of enterprise financial statement analysis, grasp the Du Pont analysis method and the use of financial ratio method.

Financial Analysis, Case Explanation of Accounting Standard for Business Enterprises, year 2011 edition

Du Pont analysis method; Financial ratio method.

General review and answer questions

6

(E) Grading

Check Forms Check in Homework 10%

Midterm exam Final exam 70%

Case Report 20%

Exam form Open-book □ Closed-book √ Other □

(F) Online sources

(The website of network classroom and other websites related to the course are available for students, with auxiliary teaching material.

The instructor who has set up the network classroom in the virtual campus, the modern technology education center or in the department's website should make the resources open to the students as more as possible.)

In terms of network teaching environment, the course online teaching resources are provided through the virtual campus system. In addition to the display of each chapter’s content, direction and guidance are added in the powerpoint of the course according to the chapter arrangement to help students to learn the course conveniently.

Ecampus System of Fudan University: www.ecampus.fudan.edu.cn

School of Economics Fudan University: http://econ.fudan.edu.cn

Excellent Course Platform: http://10.108.0.74/s/249/t/0/main.jspy

elearning ：http://elearning.fudan.edu.cn/portal/site/~04872

(G) A brief introduction of the instructors (200-300 words):

Sun Lin, associate professor and master tutor. Deputy head of Department of Public Economy Fudan University, secretary general of Public Economic Research Center of Fudan University. “Excellent scholar plan” scholar (2015). PhD of Kiev university, postdoctoral fellow of School of Management Fudan University.

Professional Affiliations: First Advisory Expert of the Accounting Standards Board of the Ministry of Finance , Member of the Government and Nonprofit Organization Accounting Committee of Chinese Accounting Society, Councilor of China Cost Research Association, Deputy Director of Economic Research Council of Shanghai Committee of China National Democratic Association, Researcher of Center for Russian and Central Asian Studies and Center for European Studies of Fudan University, Shanghai Municipal Financial Special Fund Assessment Expert.

Research interests: Mainly engaged in the research of Government Economics, Transition Economics, Human Capital Theory, Enterprise Finance, etc.

The main research products are as follows.

2 works (including monographs and co-author)

Research on Government Accounting System Reform and Government Performance Improvement (will be published in 2016)

The Study of the Relationship between Intangible Assets and Human Resource Accounting (monograph, 2006);

The Theory of Intellectual Capital Income Distribution (co-author, 2006).

13 textbooks and reference books

Government Accounting: Government Accounting (chief editor, 2015), Government and Nonprofit Organization Accounting (chief editor, 2011);

Financial Management: Financial Management (Third Edition) "(chief editor, 2015),Financial Management (Second Edition) "(chief editor, 2010), Financial Management "(chief editor, 2006), Financial Management Exercise Guide (chief editor, 2010);

Accounting: Accounting (Third Edition) (chief editor, 2016), Accounting (Second Edition) (chief editor, 2010), Accounting (chief editor, 2007), Accounting Problem Sets (chief editor, 2008), Accounting (deputy editor, 2011), Internal Control Accounting System Design (second editor, 2004);

Reference Books: Terminology of International Financial Report Standards (Chinese - Russian Bilingual Dictionary)( deputy editor, 2013)

Papers

More than 40 papers have been published in domestic and foreign core journals such as Management World (2015), Finance and Trade Economics(2013,2010), Vestnik St. Petersburg University(Russian,2013), Financial and Business (Russian,2013), Journal of St. Petersburg Finance and Economics University(Russian, 2013), International Finance & Accounting (Hong Kong), Journal of Finance and Economics, etc. And several articles have been reprinted by Chinese Social Science Digest and Copy Materials by Ren Da.

Subjects

Obtained 2 national research projects as project leader: National Social Science Fund (project number: 12BJY135), a sub-project of National Social Science Major Project (project number: 11&ZD073) corpus; 3 provincial research projects, which mainly includes Scientific Research Innovation Key Project of Shanghai Municipal Education Commission (project number: 12ZS003), China’s Postdoctoral Fund; Staring Foundation for the Returned Overseas Chinese Scholars of the Ministry of Human Resources and Social Security; Also subsidized by the projects like sub-projects of Philosophy Social Science Innovation Base Major Project of Fudan University (985 project phase III).

Awards

2016, Shanghai 13th philosophical social science outstanding achievement prize two;

2016, Fudan University Women 's Innovation Award(2014-2015);

2015, Financial Management was awarded “Shanghai Municipal Education Commission undergraduate key courses”;

2013, “Financial Management Course Construction and Experiential Case Teaching Application Research" received second prize of Shanghai municipal teaching achievement in higher education;

2012, School of Economics Undergraduate Teaching Award, Fudan University;

2011, Outstanding Undergraduate Teacher of School of Economics, Fudan University.

*If the course is provided by several instructors, please indicate the one responsible for the course.

International Advanced Financial Theory + Financial Management Localization

+

Corporate Management, Finance, Accounting, Taxation Plan, Cross-cultural

Financial Management Practices

Experiential Case

Financial Theory