PENN STATE ALTOONA
Syllabus – Fall 2013
FINANCE 301: Corporate Finance – SECT. 001
I. Instructor:
Name:
Mr. Robert E. Belsterling, MBA, CFE
e-mail:
reb26@psu.edu (PREFERRED METHOD OF CONTACT – Use regular e-mail, not ANGEL)
Phone:
814-949-5611
Instructor Bio:
Mr. Belsterling is a Certified Fraud Examiner and has 25 years of experience in Accounting,
Management and Consulting. He was employed by an international firm, a regional CPA firm, and
worked in the Automobile Industry as a Controller for 17 years, most recently with one of the 100
largest auto groups in the United States. While Mr. Belsterling was a Controller, he also served as
the Systems Administrator for all of his company’s Management Information Systems for 14 years.
Mr. Belsterling also has experience in Human Resources Management, Marketing, Inventory
Management, and Customer Relationship Management. As a sole proprietor, he has provided
consulting services and representation for clients in connection with business acquisitions, as well as
sales, and he has prepared corporate tax returns, financial statements and business valuations for
clients in Real Estate, Engineering, the Transportation Industry and the Automobile Industry.
Mr. Belsterling has also served as President and Chairman of the Board for a Non-Profit
organization. He received his B.S. in Accounting and his Master of Business
Administration degree from Waynesburg University.
Office Hours:
202A Sheetz Center for Entrepreneurial Excellence–Downtown, Tues. & Thurs. 1:15 – 2:15 PM.
Note: It is best to make an appointment for all office visits. Other times, by appointment.
II. Course Time & Place:
Tues./Thurs., 9:25 – 10:40 AM, in 102 Downtown SCEE. Cancellations will be posted on the PSU Altoona Website.
III. Textbook & Other Course Requirements:
Brealey, Myers, Marcus, Fundamentals of Corporate Finance, 7th edition, McGraw-Hill/Irwin, 2012,
Brealey, Myers, Marcus, Fundamentals of Corporate Finance 6th edition, McGraw-Hill/Irwin, 2009.
or
Also required is a capable financial calculator. The Texas Instruments - BA II Plus Business Calculator is
recommended and will be supported in class. The instructor cannot learn the intricacies of every calculator on the
market. Therefore, if you choose to use a calculator other than the TI-BA II Plus, it will be your sole responsibility
to acquire a working knowledge of how to properly utilize its functions and operations.
Prerequisite courses include: ENGL 015 or ENGL 030; ACCTG 211; ECON 102 or ECON 104; SCM 200 or STAT 200.
IV. Course Description:
Finance 301, Corporation Finance, is a 3 credit course which provides a basic understanding and framework
of how firms acquire, allocate, and control their financial resources. It covers the acquisition and management of
corporate capital, analysis of operations, forecasting capital requirements, raising capital, and planning profits. This
is an introductory finance course focusing on basic financial principles and practices essential to managing a
business. This course also covers financial markets, institutions, organizational forms and investments.
Finance 301 relies heavily on accounting and economic principles with a strong emphasis on problem solving and
decision making. The course should help students to develop objective reasoning skills and will seek to promote a
lasting interest in finance, from both a professional and personal perspective.
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V. Attendance & Participation:
Prompt and regular attendance, a good attitude, and a willingness to learn and participate are crucial
to success in the business world. Since we are in the process of preparing you for a successful career, I
will expect these things from you.
Absences due to illness, family emergency, religious convictions, or university sanctioned athletic events or activities
are excused absences, per PSU policy. Class participation grades will be reduced by five percent (5%) for each
unexcused absence, in excess of four (4). Due dates for assignments will not be extended because of your absence,
unless there are extenuating circumstances. Late arrivals for class, beyond two (2), will be counted as an absence.
All work missed on the day of a legitimate, excused absence must be made up and turned in within one (1)
calendar week in order to be eligible for credit. If you must be absent from class, it is your responsibility
to follow-up with one of your peers so that you can complete your new assignments and come prepared for the
next class. If you must be absent on the day of a review for an exam, it is your responsibility to follow-up with
one of your peers to obtain the review notes. Review notes will not be available through e-mail or ANGEL.
From time to time, there may be in-class activities for extra credit. It is therefore in your best interest to
attend all classes. Please come to each class prepared, on time, and with whatever materials you will need.
VI. Academic Integrity:
The Division of Business and Engineering considers good business ethics and academic honesty to be an
integral part of the business curriculum. Instances of academic dishonesty will be dealt with severely
and could result in a “failing” final course grade of an “ XF ”.
Academic Integrity Definition and Expectations: Academic integrity is the pursuit of scholarly activity in an
open, honest and responsible manner. Academic integrity is a basic guiding principle for all academic activity at
The Pennsylvania State University, and all members of the University community are expected to act in accordance
with this principle. Consistent with this expectation, the University's Code of Conduct states that all students should
act with personal integrity, respect other students' dignity, rights and property, and help create and maintain an
environment in which all can succeed through the fruits of their efforts.
Academic integrity includes a commitment not to engage in, or tolerate, acts of falsification,
misrepresentation or deception. Such acts of dishonesty violate the fundamental ethical principles of the
University community and may compromise the worth of work completed by others. (Policies and Rules for
Students, Section 49-20.)
Consequences of academic dishonesty: The instructor may assign an academic sanction ranging from a
warning, to failure on an assignment or in the course, or to removal from the course. (Note that a failure in
a course may affect a student’s status in a program and/or in the University.) The instructor reports each
academic sanction to the Office of Judicial Affairs, which keeps a record. Students can appeal academic
sanctions to the Committee on Academic Integrity through the Office of Academic Affairs. In more serious
cases of academic dishonesty, the Office of Judicial Affairs may apply disciplinary sanctions in addition to
the academic sanctions. These may range from a warning to probation, suspension or expulsion from the
University. An "XF" grade is a formal University disciplinary sanction that indicates on the student's
academic transcript that failure in a course was due to a serious act of academic dishonesty. (Policies and
Rules for Students, Section 49-20, and Academic Integrity Procedure G-9.)
Additional information concerning The Penn State Altoona Academic Integrity Policy that will apply to my
class can be found at http://www.altoona.psu.edu/academic/integrity.php.
NOTE: Signing in on the attendance sheet and leaving class early without permission, signing someone else in on the
attendance sheet, and having someone sign you in on the attendance sheet are all considered to be direct violations of
the academic integrity policy. The penalty for falsifying attendance records is a class participation grade of a 0% (F).
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VII. Classroom Procedures, Assignments & Exams:
The course will be taught through lecture, videos, case studies and class discussion. Whenever possible, current
events will be included. Individual preparation (reading the text, completing assignments, coming to class
prepared, etc.) enhances the learning experience for all students involved and will be critical to your success. In
order to succeed in this class, students are encouraged to work as many of the problems in the book as possible.
On average, students should plan on a minimum of 6-9 hours of study, outside of class, per week.
There will be three (3) exams of equal weight. Exams may consist of true-false, multiple choice, short answer,
problems or essay questions. Students will be tested on textbook material, class lectures, class discussions and
case studies. (i.e. anything in the textbook and anything we cover in class may appear on an exam). No cell phones,
computers or programmable calculators will be permitted to be used during the exams. NOTE: If a cell phone is
used in any way, shape, or form during an exam, it will result in an automatic “F” on the exam, and possibly for the
course.
If you have a legitimate reason for an excused absence on the day of an exam, it is your responsibility to contact
the instructor, in advance. At the instructor’s discretion, make-up exams may consist entirely of essay questions.
VIII. Grading Scale:
93 – 100 =
90 – 92 =
87 - 89 =
83 - 86 =
80 - 82 =
77 - 79 =
70 – 76 =
60 - 69 =
0 - 59 =
A
AB+
B
BC+
C
D
F
IX. Course Grades and Requirements:
Participation in class – Students must complete their homework assignments and must have
prompt and regular attendance, a good attitude, and a willingness to learn and participate
in order to earn a good class participation grade.
10%
Exams 1,2, and 3 (each exam will constitute 25% of your grade)
75%
Investment Project – See separate handout for instructions (Also see ANGEL)
15%
------100%
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X. Instructor’s Comments & Goals:
I want this class to be an excellent experience for every student and I welcome feedback if at any time that is not
what you are experiencing. There will be times that I will push you to learn in ways that may be out of your comfort
zone, because that is the only way I can help you to achieve your full potential.
I will make the course requirements and my expectations as clear to you as possible. Please don’t be afraid to ask
questions. In most cases, I will be able to answer your questions for you. I will do my best to find the answer to your
questions for you, if I don’t have the answer readily available.
If at any time you are struggling or do not understand a particular concept, please make arrangements to meet
with me so that we can discuss and resolve your concerns.
My personal goal is for this class to be a positive and worthwhile learning experience for each student, where they will
acquire knowledge and learn skills that will be useful in their lives and in their careers. I see all of you as having the
potential to be our nation’s future leaders and I want each and every one of you to succeed. I will do everything
possible to help you achieve that success.
Note to Students with Disabilities:
Penn State welcomes students with disabilities into its educational programs. If you have a disability-related need for
modifications or reasonable accommodations in this course, please contact the Health & Wellness Center, Disability
Services, located in the Sheetz Family Health Center. For more information, call (814) 949-5540 or visit the Disability
Services web site at www.altoona.psu.edu/healthwellness. Your instructors should be notified as early in the semester
as possible regarding the need for modifications or reasonable accommodations.
XI. Classroom Etiquette:
An attitude of respect should be demonstrated in the classroom at all times. Students should always be respectful of
one another and should give the professor their undivided attention during class. Cell phones and other electronic
devices are a significant distraction and should be turned off during class. Texting in class is prohibited.
If a student chooses to use their lap-top computer during class, it must be used only for information relative to the
class. E-mailing, text-messaging, surfing the Web and other forms of “personal” communication during class are
unacceptable. Texting in class and other violations of this policy will be counted as an unexcused absence from
class for that day.
XII. Homework:
The homework assignment for each chapter will be posted on ANGEL, under the Homework lessons tab.
The chapters should be read and the homework problems should be completed in advance of the material being
covered in class.
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PENN STATE ALTOONA
Fall 2013
FINANCE 301: Corporate Finance – SECT. 001
XIII. Tentative Semester Schedule:
Week
Dates
Text / Topics
1
8/27, 8/29
Review of Syllabus and Course Requirements
Finance 301 Overview
Ch. 1 – Goals and Governance of the Firm
2
9/3, 9/5
Ch. 2 - Financial Markets & Institutions
Ethics Discussion & Video
3
9/10, 9/12
Stock Market Basics
Instructions & Registration for Inv. Challenge
4
9/17, 9/19
Ch. 3 – Accounting and Finance
5
9/24, 9/26
Ch. 4 – Measuring Corporate Performance
6
10/1, 10/3
Review for Exam I
Exam I
7
10/8, 10/10
Ch. 5 – The Time Value of Money
8
10/15, 10/17
Ch. 5 – The Time Value of Money
Trading on Virtual Trading Platform - Investment Project
9
10/22, 10/24
Ch. 6 – Valuing Bonds
10
10/29, 10/31
Ch. 7 – Valuing Stocks
11
11/5, 11/7
Ch. 8 – Net Present Value & Other Investment Criteria
12
11/12, 11/14
13
11/19, 11/21
Notes
9/12 – Investment Challenge begins
10/1 - Review for Exam I
10/3 - EXAM I
11/12 – Review for Exam II
11/14 – Exam II
Review for Exam II
Exam II
Ch. 11 – Intro to Risk, Return & Opportunity Cost of Capital
11/19 – Last day to trade in
Investment Challenge
11/21 – Investment Project Reports Due @
Beginning of Class
11/26, 11/28
Thanksgiving week – NO CLASSES
14
12/3, 12/5
Ch. 12 – Risk, Return & Capital Budgeting
15
12/10, 12/12
Ch. 16 – Debt Policy
Ch. 17 – Payout Policy
Review for Final
Tuesday
Dec. 17, 2013
12/10, 12/12 - Review
Final Exam from 3:10 PM – 5:00 PM in 102 Downtown-SCEE
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Final - EXAM III