CENTRAL WASHINGTON UNIVERSITY College of Business Department of Finance & OSC

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CENTRAL WASHINGTON UNIVERSITY
College of Business
Department of Finance & OSC
Course Syllabus
Course Title: Intermediate Financial Management
Course Number: FIN 470
Section: 01
Term: Spring 2012
Credit: 5 Units
Location and Time: SHAW 101, TTH 10:20a - 12:30
Instructor: Dr. Michael T. Young
Office Location: Shaw Smyser 403
Telephone and e-mail: (W) 963-2912, (H) 925-1964, [email protected]
If you call me at home please call before 10:00 PM. If you are using a cell phone it must show your ID
for me to answer and it must be a local call for me to return your call if you leave a message.
Office Hours: W 12:00-3:00, or by appointment
Course Description: A review, consolidation, and extension of the FIN 370 class. Additional focus on the
theory, practice, and analysis of the firm’s investing and financing activities as these activities relate to the
value creation process.
Course Prerequisites: FIN 370.
Course Text, Required and Recommended Materials: Fundamentals of Corporate Finance (Alternate
Edition), 9th Edition, by Stephen A. Ross, Randolph W. Westerfield, and Bradford D. Jordan, (2010). Access to
the internet, a financial calculator (I recommend Texas Instruments BAII Plus, Programmable calculators are
not allowed), and Connect are required. To register for Connect go to http://connect.mcgrawhill.com/class/d_young_spring_2012_tth_1020-1230_2
Course Objective: This course will be taught as a combination of theory and intuition. The first part of the
course will be a review of the principals of finance with an emphasis on intuition and application to more real
world situations. Topic coverage will be: (1) Financial Statements and Cash Flows, (2) Stock and Bond
valuation, (3) Capital Budgeting, (4) Risk and Return, (5) Cost of Capital, (6) Capital Structure, (7) Options and
Derivative Securities, (8) Short-term Financial Planning, (9) Leasing (if time permits).
Course Requirements: There will be two comprehensive mid-term exams and a comprehensive final. Any
material from the text or lecture is considered testable. There will be no makeup exams for any absence that
was not pre-approved. The mid-terms will be worth 15% each, the final is worth 30%, and the assigned
homework is worth 40% of the semester grade. The dates for the mid-terms which appear in the following
tentative schedule are not written in stone, but will be given after the material has been covered. The student is
responsible to be aware of any changes to the schedule.
Assigned homework will be done using Homework Manager. If we finish lecture on a chapter on
Tuesday then the homework for that chapter will be due on the following Thursday at midnight. If we finish
lecture on Thursday, the homework will be due on the following Tuesday at midnight.
Grades will be assigned on the following basis: 90% to 100% = A, 80% to less than 90% = B, 65% to
less than 80% = C, 55% to less than 65% = D, less than 55% = F.
Class Attendance and Academic Honesty: Class attendance is expected and the student is responsible for all
assignments announced during class periods. Any student found cheating will be assigned a failing grade for
the course and may be reported to the Vice Chancellor for Student Affairs and the Dean of the College of
Business for further disciplinary action.
Good study habits are a must for this class! If you apply yourself you should have little or no problem
passing. A rule of thumb is that you should spend 3 hours in study for every hour in lecture. Allow me to make
some suggestions: 1) Read the material BEFORE lecture. 2) Try to do the homework after reading the
material, but before lecture. Any problems or questions can then be asked about during lecture. 3) Every day
after class review the material covered in that day's lecture as well as the previous day's lecture. 4) If you have
some point that you do not understand ASK! Asking questions does not indicate that you are stupid. It does
show me that you have a willingness to learn. You must understand that I have studied this material for years
and at times forget what you find difficult. Help me out and ask questions.
Tentative Schedule
Date
3/27
3/29
4/3
4/5
Chapter
1&2
3
4
5
6
Topic
Introduction and Cash Flow Review
Working with Financial Statements
Long-Term Financial Planning and Growth
Introduction to Valuation: TVM
Discounted Cash Flow Valuation
4/10
7
Interest Rates and Bond Valuation
4/12
8
9
Stock Valuation
NPV and Other Investment Criteria
4/17
4/19
*** EXAM 1 (Chapters 1 – 9) ***
10
Making Capital Investment Decisions
4/24
4/26
5/1
5/3
5/8
5/10
5/15
5/17
5/22
5/24
5/29
6/6
Chapter Problems
2: 14,18-21,24,25
3: 1,2,5,8,11,12,18
4: 3,6,7,10,16-20,22,25,30
5: 14-16, 18-20
6: 45,46,48,49,51,52,53,
55,69,71
7: 3,7,12,15,16,20,23,
29,32
8: 8,9,13,14,19,22,23,24
9: 1,4,9,14,16,17,19,25,
26
10: 17,20,21,25,26,27,29,
32,33,35
11: 13,14,20-24,27
12: 14,16-18,24
13: 19,23,24,26,27
14: 15,20-24
15: 2,4,5,9,14
16: 1,4,8,12,14,17
17: 1,2,5,10,12
11
Project Analysis and Valuation
12
Capital Market History
13
Return, Risk, and the SML
14
Cost of Capital
15
Raising Capital
16
Financial Leverage and Capital Structure
17
Dividends and Dividend Policy
*** EXAM 2 (Chapters 1 – 17) ***
18
Short-Term Finance and Planning
18: 2,5,6,8,10,11,14
19
Cash and Liquidity Management
19: 1-10
20
Credit and Inventory Management
20: 1-3,6,10,12,14,20
24
Options and Corporate Finance
24: 3,4,8,9,11-14,20,21
25
Option Valuation
25: 1-6,8,10,11,13,14
27
Leasing
27: 1-10
*** FINAL (Chapters 1 – 19, 22, 24, 25 and 27) *** 10:00 – 12:00
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