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Lecturer(s)
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Strýčková Lenka, Ing. Ph.D.
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Jáčová Helena, PhDr. Ing. Ph.D.
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Course content
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Lectures (topics): 1. Fundamentals of financial management. The company mission statement and long-term goals. 2. Financial decision-making. Factors influencing financial decision-making. 3. Risk management. 4. Strategic investment decisions. Modified methods used for evaluating the effectiveness of investment projects. 5. - 6. Determining the cost of equity and foreign capital. Selected theories used for determining optimal capital structure. 7. - 9. Management of current assets (classification and function of current assets). Management of inventories, receivables and cash flow. 10. Determining financial stability of a company using bankruptcy and credibility models. 11. Company performance and value management of a company. Historical development of approaches used for measurement of company performance. Usage of traditional methods of financial analysis to measure company performance. Modern concepts used for measurement of company performance (EVA, MVA and other). 12. Identification of key performance indicators (using a pyramidal system of indicators; management of revenues, expenses and profit; asset management; asset utilization analysis; the influence of pricing and costs on company performance). 13. Complex approaches of measuring and managing financial performance of a company (Balanced Scorecard and its perspectives, Benchmarking, EFQM). Ten Commandments for the introduction of financial performance management 14. Lecture by an expert from practice. Seminars (topics): 1.-2. Basic links between financial management and accounting. The influence of taxation on financial decisions. Current account, overdraft. 3.-4. Assessment of different forms of business financing. (credit and leasing financing). 5. Risk in financial management. 6.-7. Evaluation of economic efficiency of investments. 8. The cost of individual types of capital used to finance businesses. Calculation of EVA using various methods 9.- 11. Management of current assets, Inventory management, Cash flow management, management of receivables. Discount. Equivalent interest rate. 12.-13. Financial analysis of selected companies (ratios, selected bankruptcy and credibility models Du Pont analysis of ROE, industry comparison). 14. Credit exam test.
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Learning activities and teaching methods
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Monological explanation (lecture, presentation,briefing), Lecture, E-learning, Students' self-study
- Class attendance
- 56 hours per semester
- Preparation for credit
- 15 hours per semester
- Preparation for exam
- 20 hours per semester
- Home preparation for classes
- 25 hours per semester
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Learning outcomes
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The course follows the Corporate Finance course and deepens and extends the students' knowledge acquired in that course. The course focuses on the issues the financial manager of the company has to face while doing the business. These are respecting the time factor and the impact of the risks of financial decision-making processes, investment activities, financing long-term assets and determination of the costs of the capital of individual financial resources as well as management of short-term assets. Students are further familiarized with the general aspects of company performance management, not only using the traditional financial methods and models, but also with the help of various modern conceptions of the value based management including factors affecting the company performance.
Students obtain knowledge in given course in accordance with requirements and course programme.
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Prerequisites
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Basic knowledge gained in courses business administration, corporate finance and taxe, financial accounting.
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Assessment methods and criteria
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Combined examination
Credit exam requirements: Full-time study - it is required to pass to a credit exam test. For the credit exam test the maximum amount of 20 points can be obtained. From the test the student has to obtain at least 12 points. The student may attend a correction test from which he or she has to obtain at lest 12 points (60 % of 20 points). Combined study - active participation in lessons during the semester (1 absence allowed),writing a seminar paper. Exam requirements: Full-time study: The written exam contains and answering given questions covering prescribed topics embodied in the course syllabus. Available number of points is 40. Students have to obtain at least 60 % (i.e. 24 points) Final evaluation of the exam: - the result of the credit exam test, i.e. a maximum of 20 points (min. 12 points) - the results of the written test, i.e. a maximum of 40 points (min. 24 points) - the minimum requirement to complete the course is to obtain 36 points (i.e. 60% of the 60 points). Combined study - written exam. The written exam contains and answering given questions covering prescribed topics embodied in the course syllabus. For a successful passing of a course it is required to obtainmin. 60 % of 40 points (min. 24 points). Final evaluation: The evaluation of the credit test and the evaluation of the examination test and participation in the mandatory lecture by a practitioner are added together and enter into the overall evaluation, on the basis of which the final grade is awarded according to the following scale. 100% - 96% Excellent 95% - 89% Excellent minus 88% - 78% Very good 77% - 71% Very good minus 70% - 60% Good 59% or less Failed
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Recommended literature
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ARNOLD Glen a LEWIS Deborah S. Corporate Financial Management. 6th ed.. Harlow, England:Pearson, 2019. ISBN 978-1-292-14044-5.
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BREALEY A. Richard a MYERS Stewart C. a ALLEN Franklin. Principles of Corporate Finance.. New York: McGraw-Hill, 2016. ISBN 978-12-592-5333-1.
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DLUHOŠOVÁ Dana. Finanční řízení a rozhodování podniku. Analýza, Investování, Oceňování, Riziko, Flexibolita, Investice. 4. vyd.. Praha:Ekopress, 2021. ISBN 978-80-8786-571-2.
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JÁČOVÁ Helena, ORTOVÁ Martina. Finanční řízení podniku v příkladech. 2. aktualizované vyd.. Praha, 2013. ISBN 978-80-7478-001-1.
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KAPLAN Robert S., NORTON David, P. Efektivní systém řízení strategie. Nový nástroj zvyšování výkonnosti a vytváření konkurenční výhody.. Praha: Management Press, 2010. ISBN 978-80-7261-203-1.
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KISEĹÁKOVÁ Dana, ŠOLTÉS Miroslava. Modely řízení finanční výkonnosti v teorii a praxi MSP.. Praha: Grada Publishing, 2017. ISBN 978-80-271-0947-0.
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KISLINGEROVÁ Eva a kol. Manažerské finance. Praha: C.H. Beck, 2044. ISBN 80-7179-802-9.
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KNÁPKOVÁ Adriana, PAVELKOVÁ Drahomíra, REMEŠ Daniel a ŠTEKER Karel. Finanční analýza. Komplexní průvodce příklady. 3. kompletně aktualizované vyd.. Praha: Grada Publishing, 2017. ISBN 978-80-271-0563-2.
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MCLANEY Eddie, J. Business finance: Theory and Practice. 11 th.ed.. England: Pearson, 2017. ISBN 978-1-292-13440-6.
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PAVELKOVÁ Drahomíra, KNÁPKOVÁ Adriana. Výkonnost podniku z pohledu finančního manažera. 3. aktualizované a doplněné vyd.. Praha, 2012. ISBN 978-80-7201-872-7.
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VALACH Josef a kol. Investiční rozhodování a dlouhodobé financování. 3. přepracované a rozšířenévyd.. Praha, 2010. ISBN 978-80-86929-71-2.
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VOCHOZKA Marek. Metody komplexního hodnocení podniku. 2. aktualizované vydání. Praha: Grada Publishing, 2020. ISBN 978-80-271-1701-7.
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WAGNER Jaroslav. Měření výkonnosti. Jak měřit, vyhodnocovat a využívat informace o podnikové výkonnosti.. Praha: Grada, 2009. ISBN 978-80-247-2924-4.
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