University of Wales The Turning Point

MAFCG1 – Corporate Finance

Subject Outline
The Turning Point
JUNE 2009

Credit Points: 10
Lecturer: Lim Khai Seng
Email: khai.lim@intesasanpaolo.com

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Table of Contents
Section 1: General Information................................................................................3
1.1 Lecture Time & Location............................................................................3
1.2 Brief Outline..............................................................................................3
1.3 Aims...........................................................................................................4
1.4 Learning Outcomes...................................................................................4
1.5 Attendance................................................................................................4
1.6 Required Texts & Readings.......................................................................4
1.7 Supplementary Reading............................................................................5
Recommended Journals.......................................................................................................5
1.8 Course Schedule........................................................................................6
1.9 Web References........................................................................................7
1.10 Policies on Educational Issues and Student matters...............................7
1.11 Assessments............................................................................................7
1.12 Submission Dates....................................................................................8
Section 2: Assessment.............................................................................................9
2.1 Grades Awarded........................................................................................9
2.2 Satisfactory Completion Requirements of this Subject............................10
2.3 Assessment Weight.................................................................................10
2.4 Assessments............................................................................................10
Assignment Guidelines......................................................................................................10
2.5 Examination Information.........................................................................11
2.6 Google Groups..........................................................................................12
2.7 Assignment Submission............................................................................17
Section 3: Citation & Plagiarism.............................................................................22

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SECTION 1: GENERAL INFORMATION

1.1 Lecture Time & Location

This subject will be taught over 2 weekends, plus have scheduled weekend
meetings to assist with project research and discussion.

Friday 19th June 2009 1900 – 2200 hrs

Saturday 20th June 2009 1300 – 1700 hrs

Friday 03rd July 2009 1900 – 2200 hrs

Monday 04th July 2009 1300 - 1700 hrs

Saturday 18th July 2009 1100 – 1400 hrs EXAMINATION

1.2 Brief Outline

Corporate Finance is a key management activity, with a broad range of decisions

to address. The underlying principles in the capital budgeting decision, the best
mix of funds, risk, and dividend policy are crucial. The understanding of the
financial manager's key decisions is at the heart of the course, with the emphasis
on the selection of profitable investments, utilising financial instruments, and the
operation of the capital markets in which the company is both disciplined and
serviced, is studied in detail. The concept of risk is reviewed; moving to a review
of the nature of capital markets, and the instruments issued and traded on such
markets. Finally, the dividend decision is introduced, with an understanding of the
importance of cash flow, and a discussion of the impact of international trade on
financial decisions.

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1.3 Aims

This module aims:

• To develop an understanding in the main theories and concepts of

corporate finance
• To develop knowledge and understanding in the applications of the various
techniques used in financial decisions
• To gain appreciation of the broad environment of financial decision making
• To examine the relationship between risk and return
• To examine the impact of international trade on financial decisions

1.4 Learning Outcomes

By the end of this module, the candidates will be able to:

1. Explain the financial characteristics and implications of various financial

policies and decisions, and to be able to evaluate the key factors affecting
financial performance
2. Explain and apply the principles of risk control strategies
3. Explain and apply proper currency risk management
4. Explain and apply the investment appraisal techniques in complex
situations
5. Explain and apply the factors to be considered in the financing decision of
firms, various sources of finance and their respective uses and limitations
6. To explain and compare the competing view of dividend policies

1.5 Attendance
Attendance is strongly recommended in order for students to be able to
satisfactorily attempt the final examination. Students are required to sign in their
attendance for every lecture attended.

1.6 Required Texts & Readings

Principles of Corporate Finance, 8th Ed
Brealey, R.A; Myers, S.C. and Marcus, A.J.
Prentice Hall

1.7 Supplementary Reading

Besley, S., Brigham, E.F. Essentials of South-Western 2007

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Managerial Finance, College

14th ed.

Brealey, R.A. and Myers, Principles of Corporate McGraw-Hill 2005

S.C., Finance, 8th ed.

Gitman, L.J. Principles of Addison- Wesley 2006

Managerial Finance, 4th
Edition

Block, S.B., Hirt, G.A. Foundations of McGraw-Hill/Irwin 2004

Financial Management,
11th ed.
Keown, A.J, Martin, J.D., Financial Management: Prentice Hall 2004
Principles and
Petty, J.W., Scott, D.F.
Applications, 10th ed.

Recommended Journals
Asiamoney
CFO.com
Corporate Finance
Current Issues in Economics & Finance
Euromoney [euromoney.com]
Finance Magazine [finance-magazine.com]
Forbes [Forbes.com]
Journal of Economics & Business
Journal of Financial & Quantitative Analysis
Journal of Financial Economics

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1.8 Course Schedule

The following schedule covers materials to be addressed over the weekend
sessions.

Students are advised that they should seek to cover as much of the material as
possible prior to attending each of the weekends.

Weekend Dates Indicative Content

1 19th June 2009
To check with Lecturer

20th June 2009

2 03rd July 2009 To check with Lecturer

04th July2009

Please ensure that you read the respective chapters before coming to class.

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1.9 Web References

It is expected that students will make good use of the online materials
that are now available from a myriad of organisations on the world-
wide-web. The following are a list of predominant organisations whose
web sites will provide material most a appropriate to this module.

Http://www.wales.ac.uk/ University of Wales

http://www.economist.com/ The Economist
http://www.forbes.com/ Forbes
http://www.forbes.com/home_asia/ Forbes Asia
http://www.agsm.edu.au/~eajm/ Australian Journal of Management
http://www.spea.indiana.edu/ids/SBE.html Small Business Economics
http://www.businessweek.com/ Business Week
http://www.itbusinessedge.com/t/Business- IT Business Edge – Service Oriented
Integration/Service-Oriented-Architecture- Architecture
(SOA)/
http://www.australianit.news.com.au/itbusine Australian IT
ss/
Http://www.cio.com CIO.com – Business Technology
Leadership

1.10 Policies on Educational Issues and Student matters

Please refer to the student handbook available from the University of
Wales Website.

1.11 Assessments
All assignments are expected to be the original work of students. Each
assignment should give details of references used and all quotations
should be clearly attributed to their source. Although group
preparation is encouraged it should be noted that collusion and
plagiarism will not be tolerated and will be subjected to severe
penalties.

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1.12 Submission Dates

Assignments should be submitted to the office and not directly to the

lecturer. A completed Assignment Submission Cover (see attached)
should accompany each assignment. The centre will set deadlines for
submission of assignments and students must adhere to this deadline.
Assignments received one week after the deadline will be marked
“Late submission” and 5% of marks apportioned to the assignment
will be deducted. Assignments submitted later than a week after the
deadline will be deemed as a fail. Submission of assignments is
compulsory: you cannot pass a module unless you have completed
the assignments.

Submission of an assignment is considered to be final. A student is not

entitled to revise an unsatisfactory assignment and may only re-
submit an assignment when the Examination Board gives permission
to do so. The assignment mark provides part of the composite subject
mark upon which the award of MBA is based and the submission of
assignments should be treated as part of the final assessment and as
a formal process.

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SECTION 2: ASSESSMENT

2.1 Grades Awarded

The approved grades of performance and associated ranges of marks this subject
is:

A Grade: To be awarded a Grade A you must provide evidence of wide reading of

relevant literature, exercising discernment in the selection of appropriate
quotations and evidence to support your work. The use of appropriate models and
concepts should be accurate and demonstrate depth of understanding and
creative application to the subject companies. Your work should be logical and
coherent, presented in an interesting and accessible style. By definition A Grade
work is of an “exceptional” standard.

B Grade: To be awarded a Grade B you must provide evidence of wide reading of

relevant literature, selecting appropriate quotations and evidence to support your
work. The use of appropriate models and concepts should be accurate and
demonstrate understanding and application to the subject companies. Your work
should be logical and presented in an interesting and accessible style. Work in the
G Grades can be generally defined as very good.

C Grade: To be awarded a Grade C you must demonstrate that you have

undertaken a review of relevant literature and that you have used the information
to illustrate your answer. You should clearly demonstrate your ability to apply the
key theories and concepts to the given circumstances. Your work should be
logical, correctly referenced and convincing. Work in the C range can generally be
described as average.

D Grade: To be awarded a Grade D you must demonstrate that you have

undertaken a review of relevant literature. You should attempt to apply relevant
models and concepts to the given circumstances. Work in the D range is a
marginal pass.

E Grade: An E Grade is a marginal fail. Your work may be similar to the

description of C grade, but failing to meet the objectives of the assignment and
not satisfying the learning outcomes. Work not properly referenced.

F Grade: This is a clear fail. Inadequate literature review, not properly

referenced. Limited attempt to apply models and concepts to circumstances
and/or inaccurate application. General failure to meet the objectives of the
assignment and not satisfying the learning outcomes. Work not properly
referenced.

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2.2 Satisfactory Completion Requirements of this Subject

In order to satisfactorily complete the requirements of this subject, the student
must achieve an aggregate mark of at least 50% for the subject, and achieve a
mark of at least 40 % in the final examination. Students must ‘reasonably’
complete all assessment components other than the final examination and submit
by the final week of session/ intake or by the final examination date (whichever is
earlier) in order to pass the subject. ‘Reasonable’ completion of an assessment
will consider instructions given to the student including; word length,
demonstration of research and analysis where required, University Plagiarism
Policy, and completion of each section/ component of the assessment. Failure to
‘reasonably’ complete any assessment components to the standard specified
above will result in a Fail grade awarded for the subject. Assessment tasks
submitted after the due date may be penalized. Refer to Penalties for Late
Submission of Assessment policy.

2.3 Assessment Weight

Assessment Type Word Length Weighting Due Date

1. Examination - 100% 18th July 2009

2.4 Assessments
There are no assessment for this subject.

Assignment Guidelines

Assessment of postgraduate assignments is based on postgraduate standards.

This means that an assignment should demonstrate evidence of good
understanding of what the question asks. The structure of the answer should be
relevant to the question and provide evidence of critical thinking and good use of
appropriate research material. Assignments should be correctly referenced using
the Harvard System of Referencing and Citation of Electronic Sources in line with
the guidelines provided in this Outline.

The assignment is a paper is to be prepared in no more than +/- 10% of the word
count indicated.

Please type wherever possible, using 12 point font, Times New Roman or Arial.

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Please note: Any analysis and evaluation conducted should make appropriate use
of the methodologies, concepts and frameworks studied in the module.

You are also encouraged to read other sources at your discretion.

Plagiarism will not be tolerated. Please see the guides to citation,

referencing and plagiarism appended to this outline.

Students must retain a copy of all assessment work submitted. Marks will not
usually be modified or scaled. Feedback on assessment tasks will be returned to
students before the final examination date.

Although student attendance records will be kept, attendance or class

participation will not be part of the assessment for this subject.

2.5 Examination Information

There is an examination for this subject. It is scheduled for 18th July, 2009.

Please follow the examination information as uploaded in your Google Group for
more information.

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2.6 Google Groups

Additional information is made available to students from the school and your
lecturer through the use of Google Groups. This allows:
• Files to be shared amongst everyone in the group
• Emails to be sent to everyone using a single email address

Please note that basic information about the requirements for citation and
referencing, information about examinations and other useful documents are also
placed in the group for your access.

When you commence each subject, you will be sent an email that will allow you to
access the Google Group for that subject. A step-by-step guide on how to access
Google Groups follows.

STEP 1: Open the email

(please check your spam box if you cannot see the email in your in box)

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Step 2: Sign in to the Google Group

If you are not signed in to a Google Account

Click on the 'sign in and apply for membership' as indicated above. This will allow
you to sign in to Google Accounts, Apply for a Google Account (if you don't already
have one) and enter the group.

If you are already signed in to a Google Account

Refer to Step 4 – you should be permitted to access the account automatically. If

this doesn't happen, then please click on 'Apply for membership'.

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Step 3: Sign into your Google Account

(1) If you already have a Google account, please sign in.

(2) If you do not have a Google account, please create one **

** Note that creating a Google Account DOES NOT automatically give you a new
email address. It just associates a Google Account with your existing email
address.

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Step 4: Set up how you want to participate in the group.

Our suggestions are below.

You MUST specify a nickname. Your name is probably a good idea.

Please note that you must click on 'Accept invitation' to access the group.

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Step 5: Access and Explore the online area of the group

Note the areas 1, 2 and 3 above which will have information for your reference.

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2.7 Assignment Submission

You are required to submit your assignment online through the website service
called Turn It In. Instructions are as follows.
STEP 1: You will receive an email like the one below.

Click on the link in the email: http://submit.ac.uk

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STEP 2: Enter the 'Turn It In UK' website

After you click on the link in the email, you will see the following web site (or
something similar)
Click on [user login]

Use the username and password in the email to log in.

You will be prompted to change your password. Please do so and choose a

password that you will remember. Write it down somewhere just in case.

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STEP 3: Enter the class

Click on the class name for the assessment that you are going to submit.

STEP 4: Click on the 'Paper icon' next to the name of the assignment you will
be submitting.

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STEP 5: Upload the file to the system

Fill in the fields as requested, select the file using the browse button, and click on
'SUBMIT':

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STEP 6: Verify your submission

You will see the screen below, which will have a copy of your assignment printed
out. Read your assignment AND VERIFY THAT IT IS ALL THERE. If it is OK, click on
'yes, submit'.
If there is a problem, click on 'no, go back' and upload your file again.

The file types that will be accepted are: MS Word, WordPerfect, PostScript,
PDF, HTML, RTF, and plain text.

TROUBLESHOOTING TIP: If you have trouble submitting your file using Microsoft
Word, then use the cut and paste method. To do this, go back to Step 5 and
change the 'submit a paper by' to 'cut and paste' instead of 'file upload'.

STEP 7: Once your assignment has been submitted, your screen will show
confirmation of the submission and email you a digital receipt to confirm that your
assignment has been received by the system.

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SECTION 3: CITATION & PLAGIARISM

Please see the attached guide from the University of Wales for information on how
to avoid plagiarism and reference for your assignments.

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