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Professor Contact Information Email: Kristi.Shorey@utdallas.edu Office hours: Wednesday 6-7 or by appointment Location: SOM Faculty Lounge (3.417)
Course Pre-requisites, Co-requisites, and/or Other Restrictions Prerequisites: AIM 2301, AIM 2302, MATH 1326, MATH 2333 Co-requisites: STAT 3360
Course Description This course is an introduction to financial decision making and the valuation of business enterprises. This course focuses on the use of discounted cash flow techniques in the selection of capital investment projects. We will study financial planning, exchange rates, risk and return trade-offs in financial markets, financing decisions and dividend policy.
Student Learning Objectives/Outcomes 1. Be able to apply time value of money concepts to various valuation problems 2. Be able to describe what drives a firms cost of capital and how to estimate it 3. Be able to analyze investment in real and financial assets using various methodologies 4. Be able to construct Excel spreadsheets to solve basic financial problems
Required Textbooks and Materials Fundamentals of Corporate Finance, 9th ed., by Ross, Westerfield and Jordan Financial calculator (Texas Instruments BA II Plus)
Suggested Course Materials Wall Street Journal (available in the library if you do not subscribe)
Course Syllabus
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Assignments & Academic Calendar August 24 Introduction to Corporate Finance Financial Statements, Taxes and Cash Flow Working with Financial Statements Long-term Financial Planning and Growth Intro to Valuation: Time Value of Money Discounted Cash Flow Valuation Review for Exam 1 Exam #1 (Chapters 1-6) Interest Rates and Bond Valuation Stock Valuation Stock Valuation (cont.) Net Present Value Net Present Value (cont.) Capital Investment Decisions Capital Investment Decisions (cont.) Project Analysis and Evaluation Review for Exam 2 Exam #2 (Chapters 7-11) Lessons from Capital Market History Risk, Return and SML Cost of Capital Raising Capital Raising Capital Financial Leverage/Capital Structure Dividends and Dividend Policy Review for Exam 3 Exam #3 ( Chapters 12-17) Review for final No class (Reading Day) Final Exam Location: Davidson Auditorium 1.118 Time: Sections will be assigned to either 4-6:45 PM or 7-9:45 PM Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 15 Chapter 16 Chapter 17 Chapter 7 Chapter 8 Chapter 8 Chapter 9 Chapter 9 Chapter 10 Chapter 10 Chapter 11 Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6
August 31
September 7
September 14 September 21
September 28
October 5
October 12
October 19 October 26
November 2
November 9
November 16
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**Please note that the Final Exam is on Friday, December 9. This is a mandatory exam. The only excused absence for this exam is a health issue, in which case documentation from a third party must be provided.
Grading Policy Your final course grade will be calculated as follows: Best 2 out of 3 exams Comprehensive Final Exam Excel Project 65% 25% 10%
The following scale applies to the overall course grade: A+ : A: A- : B+ : B: B- : 98 + 93-97 90-92 88-89 83-87 80-82 F: Less than 60 C+ : C: C- : D+: D: D- : 78-79 73-77 70-72 68-69 63-67 60-62
Exams and Course Materials You must take exams on the scheduled day and time as there are NO make-up exams. There will be three exams and a final exam. The first missed exam becomes the dropped test score. Otherwise, students taking all three exams will be allowed to drop the lowest test score. The final exam is mandatory and cumulative. Course lecture notes will be available on eLearning for printing out ahead of time. Occasionally, I will assign readings from the Wall Street Journal or other publications that will be posted on the Internet or handed out in class. Test questions may be taken from this material.
Class Attendance and Participation I will not take attendance during each class, however, it is important to attend lectures. I will post slides on eLearning, but will work through examples on the board during class (which will not be posted on eLearning). Additionally, participation is highly encouraged.
Academic Integrity
The faculty expects from its students a high level of responsibility and academic honesty. Because the value of an academic degree depends upon the absolute integrity of the work done by the student for that degree, it is imperative that a student demonstrate a high standard of individual honor in his or her scholastic work. Scholastic dishonesty includes, but is not limited to, statements, acts or omissions related to applications for enrollment or the award of a degree, and/or the submission as ones own work or material that is not ones own. As a general rule, scholastic dishonesty involves one of the following acts: cheating, plagiarism, collusion and/or falsifying academic records. Students suspected of academic dishonesty are subject to disciplinary proceedings. Plagiarism, especially from the web, from portions of papers for other classes, and from any other source is unacceptable and will be dealt with under the universitys policy on plagiarism (see general catalog for details). This course will use the resources of turnitin.com, which searches the web for possible plagiarism and is over 90% effective.
Email Use
The University of Texas at Dallas recognizes the value and efficiency of communication between faculty/staff and students through electronic mail. At the same time, email raises some issues concerning security and the identity of each individual in an email exchange. The university encourages all official student email correspondence be sent only to a students U.T. Dallas email address and that faculty and staff consider email from students official only if it originates from a UTD student account. This allows the university to maintain a high degree of confidence in the identity of all individual corresponding and the security of the transmitted information. UTD furnishes each student with a free email account that is to be used in all communication with university personnel. The Department of Information Resources at U.T. Dallas provides a method for students to have their U.T. Dallas mail forwarded to other accounts.
responsibility to handle withdrawal requirements from any class. In other words, I cannot drop or withdraw any student. You must do the proper paperwork to ensure that you will not receive a final grade of "F" in a course if you choose not to attend the class once you are enrolled.
Disability Services
The goal of Disability Services is to provide students with disabilities educational opportunities equal to those of their non-disabled peers. Disability Services is located in room 1.610 in the Student Union. Office hours are Monday and Thursday, 8:30 a.m. to 6:30 p.m.; Tuesday and Wednesday, 8:30 a.m. to 7:30 p.m.; and Friday, 8:30 a.m. to 5:30 p.m. The contact information for the Office of Disability Services is: The University of Texas at Dallas, SU 22 PO Box 830688 Richardson, Texas 75083-0688 (972) 883-2098 (voice or TTY) Essentially, the law requires that colleges and universities make those reasonable adjustments necessary to eliminate discrimination on the basis of disability. For example, it may be necessary to remove classroom prohibitions against tape recorders or animals (in the case of dog guides) for students who are blind. Occasionally an assignment requirement may be substituted (for example, a research paper versus an oral presentation for a student who is hearing impaired). Classes enrolled students with mobility impairments may have to be rescheduled in accessible facilities. The college or university may need to provide special services such as registration, note-taking, or mobility assistance.
Course Syllabus
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It is the students responsibility to notify his or her professors of the need for such an accommodation. Disability Services provides students with letters to present to faculty members to verify that the student has a disability and needs accommodations. Individuals requiring special accommodation should contact the professor after class or during office hours.
Course Syllabus
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