11.

2 Business Economics I+II Total weight: 15 ECTS (10 + 5) Place on the curriculum: 1st + 2nd semesters Aim The student should have knowledge of the theories and methods of business economics seen from the practices of the finance sector and should be able to understand and apply the models and tools of business economics. The student should be able to apply and evaluate business economic analyses and to draw up operating budgets, cash flow forecasts and balance sheet budgets. The student should be able to evaluate a credit request from the perspective of risk aversion and the lenders interests and to uncover and assess the needs of business customers. The student should, independently, be able to advise on optimization of capital investment, financing and financial management. The student should have knowledge of: The financial situation and creditworthiness of business customers Contents and coherence in annual reports with corresponding budgets The motives of the enterprise for using the return on capital schemes and the Danish Business Taxation Scheme Financial analyses and accounts presented by businesses with noncorporate form Cash flow forecasts, profit and loss budgets and balance sheet budgets with the corresponding budget controls, and of possible effects of various changes in the budget bases and assumptions Financial structure and various financing concepts based on their different characteristics as e.g. yield (effective interest), maturity, collateralization, flexibility, liquidity, interest risk, and conversion value. The student should have the skills to: Draw up a financial analysis based on the Dupont model, which can clarify the financial situation and expected development of the business Draw up a profile rating the strengths of the business with a view to examining its credit worthiness Conduct a risk management analysis of a business customer based on market conditions, financial and economic conditions as well as legislative, organisational, and managerial conditions Present alternative investment proposals before and after tax based on relevant calculation methods and assessed on the basis of the customers risk profile Make a professional choice among several proposals and assess whether each proposal offers an acceptable return Draw up a proposal for the financing of the total capital needs Optimize on the basis of cost and sales conditions, taking into consideration factors concerning capacity, multiple goods production, sales in multiple markets and varying competitive conditions.

The student should acquire competences to: Handle complex connections and dependencies in the financial conditions of customers Independently assess the accounts and budgets of a business in preparation for risk assessment Professionally advise on optimisation of financial investment issues and capital structure. Modular structure I+II 11.2.1 Business Economics I

Weight: 10 ECTS Place on the curriculum: 1st semester Aim The student should have knowledge of the theories and methods of business economics seen from the angle of practice of the finance sector and should be able to understand and apply the models and tools of business economics. The student should be able to apply and evaluate business economic analyses and to draw up operating budgets, cash flow forecasts and balance sheet budgets. The student should have knowledge of: Contents and coherence in annual reports with corresponding budgets Financial analyses and accounts presented by non-corporate businesses Cash flow forecasts, profit and loss budgets and balance sheet budgets including corresponding budget controls, and possible effects of various changes in the budget bases and assumptions. The student should have the skills to: Draw up a financial analysis based on the Dupont model, which can clarify the financial situation and expected development of the business Optimize on the basis of cost and sales conditions, taking into consideration factors concerning capacity, multiple goods production, sales in multiple markets and varying competitive conditions Optimize on the basis of cost and sales conditions taking into consideration complex conditions Make a professional choice among several investment proposals, and assess whether each proposal offers an acceptable return Present alternative investment proposals before and after tax based on relevant calculation methods and assessed on the basis of the customers risk profile. The student should acquire the competence to: Independently assess the accounts and budgets of a business. 11.2.2 Business Economics II

Page 2 of 3 Curriculum for Bachelor of Financial Management and Services, June 2011

Weight: 5 ECTS Place on the curriculum: 2nd semester Aim The student should be able to evaluate a credit request from the perspective of risk aversion and the lenders interests and to uncover and assess the needs of business customers. The student should, independently, be able to advise on optimization of capital investment, financing and financial management. The student should have knowledge of: The financial situation and creditworthiness of business customers The motives of the enterprise for using the return on capital schemes and the Danish Business Taxation Scheme Financial structure and various financing concepts based on their different characteristics as e.g. yield, maturity, collateralization, flexibility, liquidity, interest risk, and conversion value. The student should have the skills to: Draw up a profile rating the strengths of the business with a view to examining its credit worthiness Conduct a risk management analysis of a business customer based on market conditions, financial and economic conditions as well as legislative, organisational, and managerial conditions Draw up a proposal for the financing of the total capital needs. The student is to achieve the competences to: Handle complex connections and dependencies in the business economic conditions of customers Independently assess the accounts and budgets of a business in preparation for risk assessment Professionally advise on optimization of financial investment issues and capital structure.

Page 3 of 3 Curriculum for Bachelor of Financial Management and Services, June 2011