Financial Statements Financial Analysis Financial Planning

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Financial Management
Ing. Zuzana Čierna, PhD.
Department of Finance
037/641 41 40
[email protected]
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Course objectives
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An overview of financial management
Financial statements, Cash Flow and Taxes
Financial analysis
Financial Planning and Forecasting
Financial markets and institutions of the Financial market
Risk and Rates of Return
Time value of Money
Securities valuation
The cost of capital
Capital structure and Leverage
Working Capital Management
Exchange rates and Exchange Rate risk
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Texts and Materials
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Fundamentals of Financial Management
Course web page materials
Seminary works
www.nbs.sk
www.finance.gov.sk
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Requirements and classification
• Evaluation
– total 100 points:
– Activity and attendance –
max. 5 points,
– Test 1
–
max. 20 points,
– Presentation of a project –
max. 15 points,
– Exam
–
max. 60 points.
• At the end of semester minimum points obtained -25
• The minimum requirement (totally) is to obtain at least
64 points in accordance with presented evaluation.
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Evaluative scale
Level of knowledge
Classification
Grade
• Excellent
93-100 %
A
Excellent
1
• Above standard
86-92 %
B
Very good
1,5
• Average
79-85 %
C
Good
2
• Acceptable
72-78 %
D
Satisfactory
2,5
• Minimal criteria
64-71 %
E
Sufficient
3
• Less than minimal criteria
 63 %
FX
Fail
4
5
Presentations of projects
• Structure (.doc):
– Title page – topic, authors, faculty
– Content
– Introduction
– Body – 10 pages, citations directly in the text
– Conclusion
– Bibliography – books, articles and interne
• Presentation (.ppt):
- 15 Minutes
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Topics
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Financial statements, structure and basic relations
Financial analysis, procedure, basic ratios
Financial planning, types of plans in a company
Risk valuation and risk quantification
Financial resources acquirement, own capital and
liabilities, external and internal funds, cost of
capital
Modern portfolio theory, risk diversification
Multinational financial management and exchange
rate risk
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Financial management
• Financial Management entails planning for
the future for a person or a business
enterprise to ensure a positive cash flow. It
includes the administration and maintenance
of financial assets.
• Besides, financial management covers the
process of identifying and managing risk.
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Scope of Financial Management
• Money and capital markets - which deals with
securities markets and financial institutions;
• Investments - which focuses on the decisions
made by both individual and institutional
investors as they choose securities for their
investment portfolios;
• Financial management - or ‘business
finance’, which involves decisions within
firms.
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THE FINANCIAL STAFF’S
RESPONSIBILITIES
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Forecasting and planning.
Major investment and financing decisions.
Coordination and control.
Dealing with the financial markets.
Risk management.
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An agency problem
• is a potential conflict of interests that can
arise between a principal and an agent. Two
important agency relationships are
• (1) those between the owners of the firm and its
management and
• (2) those between the managers, acting for
stockholders, and the debtholders.
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Direct and Indirect financing
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Than you for your attention!
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