Académique Documents
Professionnel Documents
Culture Documents
MANAGERIAL FINANCE I
FALL 2013 COURSE OUTLINE
Prerequisite &/or Exclusions: ACC 100
COURSE REPEATS:
Academic Council GPA policy prevents students from taking a course more than three times
(i.e., registered initially, repeated once, repeated twice = 3 registrations). If you fail a
required course for the third time, you will be assigned an academic standing of Withdrawn,
and will be ineligible to continue in your program. For complete GPA policy see Policy #46
at http://www.ryerson.ca/acadcouncil/policies.html.
INSTRUCTOR INFORMATION:
Instructor:
Eric Terry
Class:
Monday 3:00 pm to 6:00 pm, Section 6, TRS2-166
Office:
TRS 1-091
Office Hours:
Mondays 2:00 pm to 3:00 pm or by appointment
E-mail:
eterry@ryerson.ca
METHOD OF POSTING GRADES:
Midterm and final exam grades will be posted on Blackboard. Students who wish not to
have their course grades posted must inform the instructor in writing before October 1st,
2013. Final grades will be made available on RAMSS by the university registrar at the end
of the term.
E-MAIL USAGE & LIMITS:
I will only open e-mails that come from a Ryerson Account. Your e-mail must include in the
subject line of your e-mail message the following: Finance 300, FALL 2013, [subject]
I will try to respond to students e-mails within two business days.
CALENDAR COURSE DESCRIPTION:
Students are introduced to the major concepts in finance and investments which are the
time value of money, discounted cash flows, and risk and return. Students are given a
thorough introduction to the mathematics of asset valuation. In addition, students learn
how individual investors assess and reduce the risk associated with their investment
decisions. The course examines how firms make investment decisions. The investment
decision allocates scarce resources to projects in the firm, and involves financial forecasting,
asset valuation, capital budgeting, risk management, working capital management and
performance assessment.
COURSE OBJECTIVES:
The objective of this course is to introduce students to the subject of finance in general and
corporate finance in particular. We will explore the role of the financial manager in the firm,
focusing on both the tools needed for the job and the decision-making activities inherent in
the role.
A major focus of the course will be the time value of money. Time value of money is one of
the most important concepts in finance and a thorough understanding is essential if you are
to master more advanced finance concepts, including valuing bonds and stocks and capital
budgeting.
The FIN300 and FIN401 courses are designed to provide a general understanding of
corporate financial management to the student who does not intend to continue study in
finance. These courses are also intended to provide the necessary concepts and tools for
those students who do intend to continue study in finance.
1
20%
30%
50%
Lyryx Labs (20%): There are a total of 11 Lyryx Labs that must be completed by each
student. The students must do these labs individually. One or two labs will be due for each
Sunday of the semester. The exact due dates will be posted at Lyryx website. Each of the
labs covers material that the students will be covering in class, homework and tutorials. It
will give you the opportunity to measure your progress in understanding the material. The
students highest score for any lab will be the one recorded for grading purposes. Students
may make a maximum of 2 graded attempts at any lab question. Each lab contains a
number of questions. However, after the due date has passed, students will not be able to
make any additional attempts at the labs for marks. Information regarding logging into
the Lyryx system will be available on Blackboard.
Alternative to Lyryx Labs (20%) You are not required to complete the Lyryx Labs. As an
alternative, you can choose to write three quizzes spaced throughout the semester. Each
quiz will be worth 6.66% of your final grade. Each quiz will be 30 minutes in length and will
be scheduled at 6:00pm on Friday night, on the 4th, 8th, and 12th week of classes (including
Reading week, the 4th, 9th, and 13th weeks of the semester). The format can be any
combination of multiple choice, short answer, essay or case format. The room number will
be supplied to you at least four days in advance of writing. Please note that the room
number will probably not be the room in which you take your class. The material covered in
each quiz can include any of the material covered up to that point in the course.
If a student misses the first and/or second quiz for a valid reason, the weight of the
missed quiz/quizzes will be transferred to the next quiz. In the event that a student misses
the third quiz for a valid reason, the weight of the missed quiz or quizzes will be transferred
to the Final exam. Otherwise, a grade of 0 will be assigned for missed quizzes.
If you wish to choose this alternative to Lyryx, you must inform your instructor via email no later than the third Friday of the semester. If you have not done so by that time,
you will have forgone your opportunity to choose this alternative.
Midterm Test (30%): The midterm test will be 100% multiple
cover material from classes 1 through 5 (i.e. the material up to
Cash Flow Valuation). The midterm test will be held from
Friday, October 25, 2013. If you provide a valid reason for
makeup test will be given from 6:30pm to 8:30pm on Friday, November 1, 2013. If
you cannot attend the makeup test for a valid reason, your final exam mark will be counted
as 80% of your total grade, otherwise you will receive a grade of zero on the midterm test.
The room number for the midterm test and for the makeup will be announced at least four
days in advance of writing. We will make every attempt to post midterm test results on
Blackboard before the start of the 9th class.
Final Exam (50%) The final exam will be 100% multiple choice and will cover material
from the entire course.
The term test and the exam are closed book. You will be able to use one 8.5 by 11 inch
note sheet for both the Mid-term and the Final exam. You may use the back and the
front of this sheet. You will not be supplied with this sheet; you must prepare this
yourself. Students are allowed to have whatever they want on their note sheet. The note
sheet does NOT have to be handwritten. Regulations concerning conduct during tests and
exams are contained in the Code of Student Conduct and the Ryerson Calendar.
If a student is going to miss a quiz, the midterm test or the final exam due to illness or
some other valid reason, he/she must follow the procedures outlined in the section
ACADEMIC CONSIDERATION of this syllabus to receive any academic consideration.
TOPICS TENTATIVE SEQUENCE & SCHEDULE:
Class
1
Date
Sept. 9
Chapter
Chapter 1
Chapter 2
Topic to Covered
Introduction, Agency Costs, Maximization of Firm Value
Financial Statements, and Cash Flow From Assets
Sept. 16
Chapter 3
3
4
Sept. 23
Sept. 30
Chapter 4
Chapter 5
Oct. 7
Chapter 6
Chapter 6
(cont.)
Oct.
Oct.
Oct.
Oct.
14
21
25
28
Chapter 7
Nov. 4
Chapter 8
9
10
11
Nov. 11
Nov. 18
Nov. 25
Chapter 9
Chapter 10
Chapter 12
Chapter 13
12
Dec. 2
Chapter 13
(cont.)
FINAL EXAM
3
TEACHING METHODS:
This course is taught using a combination of lectures and problem solving. The goal is to
encourage you to think, analyse, evaluate, and problem-solve, not memorize. Answers to
assigned questions (other than those used for problem sets and labs) will be posted on
Blackboard.
OTHER COURSE ISSUES:
I make extensive use of slides. Please download these from the blackboard site before
class. I also make extensive notes on the slides. If you miss a class it will be necessary to
get notes from a classmate.
Every effort will be made to manage the course as stated. However, adjustments may be
necessary during the term at the discretion of the instructor. If so, students will be advised
and alterations will be discussed prior to implementation. Students will be informed of
any alterations by email and/or announcements on blackboard.
Class Preparation:
It is assumed that you will prepare by reading the assigned chapters before you come to
class. Students are responsible for all of the problems at the end of the chapters. You are
advised to attend class and to ask questions since the concepts discussed in the reading
material will be developed in class. Also, material covered in class may not be otherwise
covered in the reading materials.
ACADEMIC INTEGRITY:
Students are required to adhere to all relevant University policies, such as the
Student Code of Academic Conduct. University regulations concerning unacceptable
academic conduct (cheating, plagiarism, impersonation, etc.) will be followed. See
The G. Raymond Chang School of Continuing Education calendar or online versions
below.
o Student Code of Academic Conduct:
http://www.ryerson.ca/acadcouncil/current/pol60.pdf
o Student Code of Non-Academic Conduct:
http://www.ryerson.ca/acadcouncil/current/pol61.pdf
o Statement of Student Rights and Responsibilities:
http://www.ryerson.ca/acadcouncil/studentrights.pdf
for
more
explanation.
It is assumed that all examinations and work submitted for evaluation and course
credit will be the product of individual effort, except in the case of team projects
arranged for and approved by the course instructor. Submitting the same work to
more than one course, without instructors approval, is also considered plagiarism.
NOTE: Students may not drop a course when they have been notified of the
suspicion of academic misconduct. If a student attempts to drop the course,
the Registrars office will re-register the student in that course until a decision
is reached.
When an instructor has reason to suspect that an individual piece of work has been
plagiarized, the instructor shall be permitted to submit that work to any plagiarism
detection service.
E-MAIL ACCOUNTS:
Students are required to activate and maintain a Ryerson Matrix e-mail account. This shall
be the official means by which you will receive university communications.
See www.ryerson.ca/acadcouncil/current/pol157.pdf.
ACCOMODATION OF STUDENTS WITH DISABILITIES:
In order to facilitate the academic success and access of students with disabilities, these
students should register with the Access Centre
http://www..ryerson.ca/accesscentre/index.html.
Before the first graded work is due, students should also inform their instructor through an
Accommodation Form for Professors that they are registered with the Access Centre and
what accommodations are required.
STUDENT RESPONSIBILITIES IN ACADEMIC APPEALS:
Students should read the Undergraduate Academic Consideration and Appeals policy
at www.ryerson.ca/acadcouncil/current/pol134.pdf.
It is the students responsibility to notify and consult with either the instructor, or the
Chair/Director of the teaching department/school, depending on the situation, as
5
soon as circumstances arise that are likely to affect academic performance. It is also
the students responsibility to attempt to resolve all course related issues with the
instructor and then, if necessary, with the Chair/Director of the teaching
department/school as soon as they arise. An appeal may be filed only if the issue
cannot be resolved appropriately. Failure to deal with a situation as soon as it arises
will jeopardize any appeal.
Students who believe that an assignment, test, or exam has not been appropriately
graded must review their concerns with their instructor within 10 working days of the
date when the graded work is returned to the class.
INSTRUCTOR of the problem as soon as it arises, and to contact the instructor again
after the documents have been submitted in order to make the appropriate
arrangements.
If you do not have a justifiable reason for missed work and/or have not followed the
procedure described above, you will not be given any credit for it.
For more detailed information on these issues, please refer to Senate Policy 134 at
(Undergraduate Academic Consideration and Appeals) and Senate Policy 150
(Accommodation of Student Religious Observance Obligations). Both can be found at
www.ryerson.ca/senate/policies/.
Excellent
Good
Satisfactory
Marginal
Unsatisfactory
Letter Grade
Grade Point
Conversion Range
A+
4.33
90-100
4.00
85-89
A-
3.67
80-84
B+
3.33
77-79
3.00
73-76
B-
2.67
70-72
C+
2.33
67-69
2.00
63-66
C-
1.67
60-62
D+
1.33
57-59
1.00
53-56
D-
0.67
50-52
0.00
0-49