英文： Financial Management

授课对象

MPAcc学员

学分

3学分

课程描述

财务管理理论与实务课程是管理专业学生的一门重要的专业课，它是深入研究如何组织企业资金活动，处理企业与各方面财务关系的一门学科。通过该课程的教学，使学生理解和掌握有关公司财务管理的理论知识，系统掌握公司财务管理的系统内容及高级分析方法，对财务管理知识的实践及其运用现状有深入的了解

先修课程

财务会计理论与实务

课程目标

使学生能深入系统地理解财务管理的基本理论，评价企业的投资、融资和股利决策对企业价值最大化目标的实现程度，熟悉将分析技术引入相关财务决策的方法；扩大学生的专业知识面，提高学生分析问题、解决问题的能力，从而提高他们进入公司后的适应能力和实践能力。

预期学习成果

（能力）

1.深入系统地理解财务管理的基本理论，熟悉将分析技术引入相关财务决策的方法。

2、提高分析问题、解决问题的实践能力。

教学方式

以ACCA原版考试教材为基础，课堂教学应采取问题导向的教学方式，以案例分析与课堂讨论相结合，配套小组作业和案例讨论，注重对学生学习过程的评价。

评分体系

案例讨论及小组作业（30%）、结业考试（70%）

教学重点、难点：

重点：
           1. 高级投资评价。
           2. 并购与重组。
           3. 高级风险管理。

难点：
           1. 项目投资决策的评价和分析方法。

2. 并购估值。

3. 金融衍生产品的风险管理技术。

教学内容

基本要求

按章、节具体列出教学内容

具体列出教学的基本要求，如了解、理解、掌握及应用等。

第一章 Role and responsibility towards stakeholders

第一节 The role and responsibility of senior financial executive/advisor

◆Develop strategies for the achievement of the organizational goals, recommend strategies for the management of the financial resources of the organization.

第二节 Financial strategy formulation

◆Assess organizational performance and recommend the optimum capital mix and structure within a specified business context and capital asset structure.

第三节 Conflicting stakeholders interests

◆Assess the potential sources of the conflict, recommend appropriate strategies for the resolution of stakeholder conflict and advise on alternative approaches that may be adopted.

第四节 Ethical issues in financial management

◆Assess the ethical dimension within business issues and decisions and advise on best practice.

第五节 Impact of environmental issues on corporate objectives and governance

◆Assess the issues which may impact upon organizational objectives and governance.

第六节 Economic environment for multinationals

◆Advise on the theory and practice of free trade and the management of barriers to trade, advise on the development of a financial planning framework for a multinational organization.

第二章 Advanced investment appraisal

第一节 Discounted cash flow techniques

◆Evaluate the potential value added to an organization arising from a specified capital investment project of portfolio. Establish the potential economic return and advise on a project’s return margin.

第二节 Application of option pricing theory in investment decisions

◆Apply the BSOP model to financial product valuation and to asset valuation. Assess, calculate and advise on the value of options to delay, expand, redeploy and withdraw using the BSOP model.

第三节 Impact of financing on investment decisions and adjusted present values

◆ Calculate the cost of capital, assess the impact of financing and capital structure upon the organization. Apply the adjusted present value technique to the appraisal of investment decisions.

第四节 Valuation and the use of free cash flows

◆Forecast an organisation’s free cash flow, advise on the value of an organization using its free cash flow.

第五节 International investment and financing decisions

◆Forecast project or organization free cash flows in any specified currency and determine the project’s net present value or organization value under differing exchange rate, fiscal and transaction cost assumptions.

第三章 Acquisitions and mergers

第一节 Acquisitions and mergers versus other growth strategies

◆Advise upon the criteria for choosing an appropriate target for acquisition. Evaluate the potential for synergy separately classified.

第二节 Valuation of acquisitions and mergers

◆Assess the impact of an acquisition or merger upon the risk profile of the acquirer distinguishing. Advise on the valuation of acquisitions using the corresponding model.

第三节 Regulatory framework and processes

◆Demonstrate an understanding of the principal factors influencing the development of the regulatory framework for mergers and acquisitions.

第四节 Financing mergers and acquisitions

◆Evaluate the advantages and disadvantages of a financial offer for a given acquisition proposal using pure or mixed mode financing and recommend the most appropriate offer to be made.

第四章 Corporate reconstruction and reorganisation

第一节 Financial reconstruction

◆Assess an organizational situation and determine whether a financial reconstruction is the most appropriate strategy for dealing with the problem as presented.

第二节 Business reorganisation

◆Recommend strategies for unbundling parts of a quoted company. Evaluate the likely financial and other benefits of unbundling.

第五章 Treasury and advanced risk management techniques

第一节 The role of the treasury function in multinationals

◆Discuss the role of the treasury management function and the operations of the derivatives market.

第二节 The use of financial derivatives to hedge against foreign exchange risk

◆Evaluate, for a given hedging requirements, which of the following is the most appropriate strategy, given the nature of the underlying position and the risk exposure.

第三节 The use of financial derivatives to hedge against interest rate risk

◆Evaluate, for a given hedging requirement, which of the following is the most appropriate given the nature of the underlying position and the interest risk exposure.

第四节 Dividend policy in multinationals and transfer pricing

◆Determine a corporation’s dividend capacity and its policy. Advise on an organisation’s current and projected dividend capacity.