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BFA728

Finance for Managers

Semester 2, 2014

THIS UNIT IS BEING OFFERED IN

HOBART & BY DISTANCE

Taught by:

Roger Colbeck

CRICOS Provider Code: 00586B

BFA728, Finance for Managers 2

Contents

Contact Details ........................................................................................................................................ 3

Unit Description ...................................................................................................................................... 4

Prior Knowledge &/or Skills OR Pre-Requisite Unit(s) ............................................................................ 4

Enrolment in the Unit ............................................................................................................................. 4

When does the unit commence? ............................................................................................................ 4

Intended Learning Outcomes and Generic Graduate Attributes for BFA728 ......................................... 5

Learning Expectations and Teaching Strategies/Approach .................................................................... 6

Learning Resources ................................................................................................................................. 8

Technical requirements for MyLO .......................................................................................................... 9

Student Feedback via eVALUate ........................................................................................................... 11

Details of Teaching Arrangements ........................................................... Error! Bookmark not defined.

Assessment ........................................................................................................................................... 13

Submission of Assessment Items .......................................................................................................... 20

Review of Assessment and Results ....................................................................................................... 21

Further Support and Assistance ............................................................................................................ 22

Academic Misconduct and Plagiarism .................................................................................................. 23

Study Schedule ...................................................................................................................................... 24


Contact Details

Unit Coordinator Roger Colbeck

Campus: Hobart

Room Number: 502

Email: [email protected]

Phone: ext: 2758

Consultation: Monday 4.00 pm to 5.00 pm


Unit Description

This unit introduces students to the major concepts and analytical tools used in the theory and practice of financial management in a business organisation. It is designed to provide you with an understanding of:

The scope and nature of the finance function and its role within management; and

The theory of finance and how it underpins the evaluation of investment, financing and dividend policies.

This unit also develops your practical skills in the identification and analysis of financial problems. Specifically, this unit considers the role and objectives of financial management, financial planning, working capital management, risk and return, capital budgeting, the capital market, sources of finance, the cost of capital, operating and financial leverage, the financial structure decision and dividend policy. As business and commerce graduates you will follow career paths that will lead to owning your own business or being part of an organisation in a management role. This unit provides the theoretical framework that will allow you to understand the goal of a financial manager and help you make financial management decisions. In this unit you will learn concepts and models that are essential in the process of running a business, and which are applicable to the wealth creation and management of entities that range from major corporations to small businesses and individuals.

Prior Knowledge &/or Skills OR Pre-Requisite Unit(s)

There are no prerequisites for this unit.

Enrolment in the Unit

Unless there are exceptional circumstances, students should not enrol in this unit after the end of week two of semester, as the Tasmanian School of Business and Economics (TSBE) cannot guarantee that:

any extra assistance will be provided by the teaching team in respect of work covered in the period prior to enrolment; and

penalties will not be applied for late submission of any piece or pieces of assessment that were due during this period.

When does the unit commence?

14 July 2014.


Intended Learning Outcomes and Generic Graduate Attributes for BFA728

INTENDED LEARNING OUTCOMES ASSESSMENT

METHODS

DISCIPLINE LEARNING

OUTCOMES

GRADUATE ATTRIBUTE OUTCOMES

In this unit you will learn: In assessing this unit I will be looking

at your ability to:

Learning Outcome 1 Explain the theoretical underpinnings and processes in financial decision making

Explain the role of financial management Online Tests Assignment

Judgement Exercise judgement, with guidance, to solve routine problems within a business context using a socially responsible and global orientation.

Knowledge Integrate theoretical and technical knowledge in accounting and accountability.

Application Skills Critically apply theoretical and technical knowledge to solve routine accounting and related problems.

Communication and Teamwork Justify and communicate accounting advice and ideas in straightforward collaborative contexts involving both accountants and non-accountants in a clear and independent manner.

Self-Management Reflect on performance feedback to identify and act upon learning opportunities and self-improvements.

The assessments and teaching activities in this unit have been designed to develop the following graduate attributes in students.

Knowledge : Reasonably detailed knowledge of financial management and the ability to apply knowledge to diverse business and related situations in both Australian and international contexts.

Lifelong learning skills in pursuit of professional development.

An understanding of the concept and process of lifelong learning.

Problem solving : The ability to apply logical thinking to a range of finance management problems. An awareness of when information is needed and the capacity to locate analyse and use relevant information.

Communication : High level written communication skills in a range of formats, considering audience needs and adapted to real world business situations.

The ability to clearly and accurately communicate information in both oral and written formats.

Global perspective : An awareness of the global business environment and the ability to evaluate and incorporate its influence on financial practices and decisions.

Social responsibility : The ability to apply the ethical requirements of University study. Awareness of the responsibilities of financial decision makers to society and societal expectations of business.

Discuss the principles of risk and return in financial decisions

Online Tests Assignment Exam

Explain portfolio theory, capital budgeting, capital structure and dividend policy

Online Tests Exam

Explain the issues or considerations related to working capital management and current liabilities management

Assignment Exam

Learning Outcome 2 Apply concepts to financial decisions that incorporate risk and return

Identify financial models/ techniques/ formulae relevant to a given situation

Assignment Exam

Determine the relevance of financial data and information to financial analysis.

Assignment Exam

Select and apply correct financial techniques to financial calculations

Online Tests Assignment Tutorial participation Exam

Learning Outcome 3 Communicate clearly and accurately financial information in a variety of business situations

Interpret the meaning of financial calculations Assignment Exam

Critically evaluate analysis of financial data and calculations

Assignment Exam

Discuss solution to a financial problem in front of a group

Tutorial participation

Discuss theoretical financial issues or topical financial information in front of a group

Tutorial participation


Learning Expectations and Teaching Strategies/Approach

The University is committed to a high standard of professional conduct in all activities, and holds its commitment and responsibilities to its students as being of paramount importance. Likewise, it holds expectations about the responsibilities students have as they pursue their studies within the special environment the University offers. The University’s Code of Conduct for Teaching and Learning states:

Students are expected to participate actively and positively in the teaching/learning environment. They must attend classes when and as required, strive to maintain steady progress within the subject or unit framework, comply with workload expectations, and submit required work on time.

FLEXIBLE DELIVERY (Distance)

These are some of the expectations we have of you as a student enrolled in this unit:

There are eight Modules for you to study independently in this Unit, each of which has a number of Topics within it. For each of the Topics there are narrated PowerPoint Slides that introduce key concepts. There are Activities, Recommended Readings and Case Studies for you to undertake.

You need to complete, four On-line Tests, two Assignments with online discussion and one Final Assessment to pass this Unit (see Assessment section below).

The Unit is planned to enable you to work at your own pace. It is important, however, to work consistently through the course materials. If there is any area of work that you do not understand, you should contact the Unit Coordinator immediately, and make sure you do not progress to the next Topic/Module without a thorough understanding of the previous one.

Encouraging you to study and learn independently is an important goal of university study. It is a feature of a reflective approach to learning where you reflect on what you are learning and how you plan your learning strategy.

It is not the aim of flexible delivery that you feel you must work through problems alone. The exchange of information and ideas is a very important part of your learning development. You will gain most benefit by staying in close contact with other students and with the Unit Coordinator via the Discussion and Mail facilities of MyLO.

All aspects of your work are expected to be of a high standard, both in academic content and quality of presentation. It is important to contact the Unit Coordinator immediately should you experience any difficulties.

Do not be reluctant to ask questions or contribute ideas, even if only partly formed, as these can often form a basis for very constructive interaction. Remember that the MyLO Discussions will be as interesting and useful as you make them.

The “Double L, Double R, Double D” approach To get the most from this Unit, you should adopt the following approach:

Locate the Topic on MyLO that must be done next;·

Listen to the PowerPoint Presentation;·

Read the Recommended Readings;·

Reflect on the concepts and issues that have been encountered;·

Discuss the concepts and issues with other students via MyLO; and

Do the exercises that are provided for the Topic.


Throughout the Semester, your objective should be to gain a broad knowledge and understanding of the Topics that are covered in the various Modules contained in the Unit. Wherever possible, you should make extensive use of the MyLO Discussion Topics that have been provided for you to use. If you are geographically close to each other, you are encouraged to form local work groups. ON CAMPUS DELIVERY Lectures There is a 2 hour lecture once per week. Refer to the University timetable for times and venues and the Study Schedule at the end of this outline. Lectures will consist of topic summaries, explanations and demonstrations and will provide an overview of the theoretical and applied aspects of the course content. However, they will constitute an introduction only. In order to gain full understanding of the subject matter you must complete all relevant reading, participate actively in the tutorials and undertake additional exercises and problems (i.e. learning through doing). Lecture Handouts are available on MyLO. Tutorials There is a 1 hour tutorial once per week beginning in Week 1 Refer to the University timetable for times and venues. It is very important that you complete all the relevant reading and attempt all the required exercises before attending each week's tutorial. Details of the tutorial exercises are outlined in the last slide of the weekly Lecture Handout available on MyLO.

Details of tutorial times are also available on MyLO Failure to adhere to these requirements could result in lower participation marks due to incomplete recording of your tutorial participation.

The tutorials are designed to help ensure that you develop a fuller understanding of and an ability to use the material that is covered by the text and presented in the lectures. The motivation for tutorial participation assessment is to encourage students to prepare answers, attend tutorials, and contribute to class discussion. Tutorial participation is worth 6% of the final unit mark (therefore each tutorial is worth 0.5% of the final unit mark). This, along with the fact that set questions covered in tutorials will be similar in nature and difficulty to the problems in the end of semester exam, should provide sufficient incentive for students to participate in tutorials. The tutorial Review Questions are generally theoretical in nature and are important in aiding students' learning of the subject matter and in interpreting the calculations undertaken in problems. Only selected answers will be available for each tutorial and photographing displayed answers in tutorial will not be allowed. Articles from the financial press may also be provided for discussion in tutorials.

Review Questions may be broken down into sub parts and questions may be asked that have not been specifically set for preparation but nevertheless relate to the subject matter. This tests students' broader knowledge and their ability to apply the knowledge to other situations including the real world.

Solutions to selected tutorial Review Questions will be available on MyLO after the end of the respective tutorial week.

Staff Consultation Times

Consultation hours are posted on the MyLO website (unit information) and outside staff offices. You can communicate in person with your lecturer/tutor during office hours, by making an appointment or as appropriate during class time. It is sometimes difficult for staff to talk to students immediately before and at the end of lecture/tutorials due to other prior university commitments. Please do not be offended if you are requested to visit during office hours for assistance, or asked to make an appointment.


Email-student to staff

Unless related to a personal issue, emails pertaining to unit content will only be answered if sent through MyLO. All emails to unit staff MUST contain the unit code and subject heading (e.g. BFA728 unit name, subject heading) and should come from your official UTAS student email address.

Unit Communication through MyLO

Unit notices will be delivered at lectures and/posted under the news section of MyLO. The unit web page is an important communication tool for this unit. Information related to lectures and/or tutorials, assessment items, learning resources and other relevant unit information will be posted on this site on a regular basis. It is your responsibility to check this site at least twice a week. Remember any posted material is a learning aid only, and is not a substitute for attendance.

Work, Health and Safety (OH&S)

The University is committed to providing a safe and secure teaching and learning environment. In addition to specific requirements of this unit you should refer to the University’s policy at: www.utas.edu.au/work-health-safety.

Learning Resources

Recommended Texts A recommended text is a resource that you can use to broaden your understanding of the topics covered in this unit. You may also find a recommended text helpful when conducting research for assignments.

Parrino, R, Kidwell, D, Au Yong, H H, Morkel-Kingsbury, N, Dempsey, M & Murray, J 2014, Fundamentals of Corporate Finance, 2nd edn, John Wiley & Sons, Milton, Qld. Other: Gitman, L, Juchau, R & Flanagan, J 2011, Principals of Managerial Finance, 6th edn, Pearson Education, NSW. Ross, SA, Christensen, S, Drew, M, Thompson, M, Westerfield, RW & Jordan, B J 2011, Fundamentals of Corporate Finance, 5th ed., McGraw-Hill, Sydney.

Other Recommended Resources

Financial management is a dynamic area. Students are therefore urged to follow current events and developments in finance in the press. This includes reading the following periodical regularly (look for special student offers):

The Australian Financial Review (www.afr.com), The Economist (www.economist.com), The Financial Times (www.ft.com), The Wall Street Journal (www.wsj.com).

http://www.utas.edu.au/work-health-safety

http://www.afr.com/

http://www.economist.com/

http://www.ft.com/

http://www.wsj.com/


There are many resources on the web, but be aware not all of them are worthwhile. Consult the leading textbooks for references.

Among academic journals, look in Journal of Finance Journal of Applied Corporate Finance Accounting and Finance

and other journals that can be found in the library.

My Learning Online (MyLO)

Access to the MyLO online learning environment unit is required for this unit. The unit has its own MyLO site.

To log in to MyLO and access this unit, go to: http://www.utas.edu.au/learning-teaching-online .To access the unit, select BFA728. These instructions will help you to log in for the first time. For help using MyLO go to http://www.utas.edu.au/learning-teaching-online.

Technical requirements for MyLO

For help and information about setting up your own computer and web browser for MyLO, see: http://uconnect.utas.edu.au/

While on campus, you can access the University network and MyLO via a laptop computer or other mobile device. See: http://uconnect.utas.edu.au/uana.htm

MyLO can be accessed via Library computers and in computer labs on campus. See: http://www.utas.edu.au/it/computing-distributed-systems/computer-labs-facilities-and-locations

For further technical information and help, contact the UTAS Service Desk on 6226 1818 or at http://www.utas.edu.au/service-desk during business hours.

Learning to use MyLO When you login to MyLO, you will see a unit called Getting Started with MyLO. Enter the unit to learn more about MyLO and to practise using its features.

MyLO Expectations 1. Students are expected to maintain the highest standards of conduct across all modes of

communication, either with staff or with other students. Penalties may be imposed if the Unit Coordinator believes that, in any instance or mode of communication, your language or content is inappropriate or offensive. MyLO is a public forum. Due levels of respect, professionalism and high ethical standards are expected of students at all times.

2. Submission of assessment tasks via MyLO presumes that students have read, understood and abide by the requirements relating to academic conduct, and in particular, those requirements relating to plagiarism. All work submitted electronically is presumed to be “signed-off” by the student submitting as their own work. Any breach of this requirement will lead to student misconduct processes.

http://www.utas.edu.au/learning-teaching-online

http://www.utas.edu.au/__data/assets/pdf_file/0004/467122/MyLO-for-those-who-have-never-used-it-before-part-one.pdf

http://www.utas.edu.au/learning-teaching-online

http://uconnect.utas.edu.au/

http://uconnect.utas.edu.au/uana.htm

http://www.utas.edu.au/it/computing-distributed-systems/computer-labs-facilities-and-locations

http://www.utas.edu.au/service-desk


3. MyLO is an Internet service for teaching and learning provided by the University. It is

expected that you check your units in MyLO for updates at least once a day.

Using MyLO for BFA728 IMPORTANT!: Before you are provided with access to your unit’s MyLO resources, you must complete the Student Agreement form. To do this:

1. Access the unit’s MyLO site. 2. Locate the Begin Here folder and click on it to open it. You can find the Begin Here folder by

scrolling down until you see Content Browser OR by clicking on the Content button.

OR

3. Once you have opened the Begin Here folder, click on the Student Agreement file.

OR

4. Read the terms, then check the I agree box. You should now be able to access all available unit content on MyLO. You only need to do this once in each MyLO unit.

Other important resources on MyLO There is a Unit Schedule at the end of this Outline where you will find the eight Modules covered in this Unit. It also contains SUGGESTED target dates for the completion of the Modules. This will be helpful for you if you wish to complete the Unit progressively throughout the Semester. The Recommended Readings for each of the Modules are indicated in the Unit Schedule and on MyLO. You MUST allow yourself SUFFICIENT TIME to work your way through all of the Modules, participate in the On-line Test, and complete the Case Studies and Assignment. It would be very unwise to leave insufficient time so that you have to complete a large amount of work in a short period.


Student Feedback via eVALUate

At the conclusion of each unit students will be asked to provide online responses to a number of matters relating to the learning and teaching within that unit. All students are asked to respond honestly to these questions, as all information received is used to enhance the delivery of future offerings.

Changes to this Unit Based on Previous Student Feedback There have been no changes following student feedback.

Learning Skills and Language Support (Other support details) Include this for undergraduate and international undergraduate students: The Student Learning and Academic Development Team in the Student Centre works with all students, domestic and international, to develop academic skills, literacy and English language skills. More information can be found on this website http://www.utas.edu.au/student-learning/

Communication, Consultation and Appointments TO KEEP UP WITH ANNOUNCEMENTS REGARDING THIS UNIT Check the MyLO News tool at least once every two days. The unit News will appear when you first enter our unit’s MyLO site. Alternatively, click on the News button (towards the top of the MyLO screen) at any time. WHEN YOU HAVE A QUESTION Other students may have the same question that you have. Please go to the Q&A Forum on our course’s MyLO site. Check the posts that are already there – someone may have answered your question already. Otherwise, add your question as a new topic. Students are encouraged to support each other using this forum – if you can answer someone’s question, please do. We will attempt to respond to questions within 48 business hours. If your question is related to a personal issue or your performance in the unit, please contact us by email instead.

http://www.utas.edu.au/student-learning/


WHEN YOU HAVE AN ISSUE THAT WILL IMPACT ON YOUR STUDIES OR SUBMISSION OF AN ASSESSMENT TASK If you have a personal question related to your studies or your grades, please contact us by email. A NOTE ABOUT EMAIL CORRESPONDENCE You are expected to check your UTAS email (WebMail) on a regular basis – at least three times per week. To access your WebMail account, login using your UTAS username and password at https://webmail.utas.edu.au/ . You are strongly advised not to forward your UTAS emails to an external email service (such as Gmail or Hotmail). In the past there have been significant issues where this has occurred, resulting in UTAS being blacklisted by these email providers for a period of up to one month. To keep informed, please use your UTAS email as often as possible. *IMPORTANT* Please email me when you have a question or issue of a personal nature, for example, you have a family issue that is affecting your studies. For general questions about the unit, please add them to the Q&A forum on our unit’s MyLO site. This way, other students can also benefit from the answers. I receive a lot of emails. Be realistic about how long it might take for me to respond. Allow me at least two (2) business days to reply. Staff are not required to respond to emails in which students do not directly identify themselves, emails which are threatening or offensive, or emails that come from external (non-UTAS) email accounts. When you write an email, include the following information. This helps the teacher determine who you are and which unit you are talking about.

Family name;

Preferred name;

Student ID;

Unit code (i.e. BFA728)

Questions If your question is about an assessment task, please include the assessment task number or name.


Assessment

Assessment Schedule for Distance Students Only In order to pass this unit you must achieve an overall mark of at least 50 of the total available marks. Details of each assessment item are outlined below. For Distance students only.

Assessment Items Due Date Value/Weighting Link to Learning Outcomes

Four (4) Online tests To be completed weeks 3, 6, 9, 12 Mon 9.00am - Fri 5.00pm One hour duration Mon 9.00 am - Fri

12% Learning Outcome 1 Learning Outcome 2

Assignment one (1)

2:00pm, Monday 18 August, 2014

11% Learning Outcome 1 Learning Outcome 2 Learning Outcome 3

Assignment two (2) 2:00pm, Monday 29 September, 2014


Online discussion*2 (two)

See assignment dates 6% Learning Outcome 1 Learning Outcome 2 Learning Outcome 3

End of semester exam In University exam period


Assessment Item 1 – Four (4) Online tests

Task Description: The Test comprises 25 multiple-choice questions comprising theory and easy calculations. The purpose of this Test is to assess your understanding of the concepts and issues included in the modules from the previous 3 weeks. The duration of the Test is one hour only. Four tests will be conducted during the semester to check the progress of your learning and understanding of key concepts. Ensure you are prepared before taking the test by having a calculator ready, factor tables and pen and paper, if necessary. You are only allowed one attempt. General feedback regarding these tests will be provided during the lecture time.

Task Length No set word limit, however interpretation of calculations, where requested, will require a minimum of one paragraph.

Assessment Criteria: 3% of total unit assessment.Your result will not be available until Friday week 3, 6 , 9, 12 at 6.00pm. on MyLO under grades.

Link to Unit’s Learning Outcomes:

Learning Outcome 1 Learning Outcome 2

Due Date: To be completed weeks 3, 6, 9, 12 One hour duration, between Mon 9.00 am - Fri 5.00 pm

Value: 12%


Assessment Item 2 - Assignment one (1)

Task Description: Written in depth analysis of corporate finance topics.


Assessment Criteria: 11% of the total unit assessment. Results of assignments will be posted through MyLO grades and will be available within a period of 7 to 10 working days. Refer assignment rubric.


Learning Outcome 1 Learning Outcome 2 Learning Outcome 3

Due Date: 2:00pm, Monday 18 August, 2014

Value: 11%

Assessment Item 3 - Assignment two (2)


Task Length No set word limit, however interpretation of calculations, where requested,

will require a minimum of one paragraph.

Assessment Criteria: 11% of the total unit assessment. Results of assignments will be posted

through MyLO grades and will be available within a period of 7 to 10 working

days. Refer assignment rubric.

Link to Unit’s

Learning Outcomes:

Learning Outcome 1

Learning Outcome 2

Learning Outcome 3

Due Date: 2:00pm, Monday, 29 September, 2014

Value: 11%


Assessment Item 4 - Online discussion*2 (two)

Task Description: Students are expected to answer the assignment and comment on at least two or three other postings in MyLO. The assessment will be conducted by personal observation of student participation in On-line Discussion between you and other students.

Task Length

Assessment Criteria: You are required to submit your answers to assignments via MyLO dropbox area and engage in the Assessable Discussion/s for each assignment in the discussion area. You may move the discussion in any broad direction that is related to the Question/s and issues raised by the Question/s. The lecturer will monitor the Assessable Discussion/s regularly, and will intervene where appropriate e.g. to recognise a particularly valuable discussion or correct a misconception. It is the Assessable Discussion for you to explore in whatever directions and dimensions that you wish provided they are at least tangentially related to the Question/s and the Module/Topic content.

The purpose of the on-line discussions is to generate a lively debate. To this purpose, endeavour to maintain a “conversational” tone: Certainly reference where appropriate, but keep your submissions sharp and to the point. Multiple postings are preferred to one long one, so try to develop your discussions with others. Your first posting will generally be your longest.

The mark allocated to assessable discussions will depend on the manner and extent to which you comply with the `Assessment Criteria' provided below.

In addition, you may be imposed a penalty if the Unit Coordinator believes that your language or content is inappropriate or offensive. MyLO provides a public forum: Due levels of respect, professionalism and high ethical standards are expected of all at all times.

Your participation in Assessable Discussion will be assessed in accordance with the criteria on page 5 using the below as a guide.

HD Outstanding Contributor: This person's contributions reflect exceptional preparation and reflection. The ideas offered are always substantive and provide major insights and direction for the discussion. If this person were not a member of the group, the quality of the discussions would diminish significantly.

CR - DN Very Good Contributor: Contributions in discussion reflect thorough preparation. Ideas offered are usually substantive, provide good insights and sometimes lead the direction of the discussion. Points and arguments are generally well thought-out and are often persuasive. If this person were not a member of the group, the quality of discussions would diminish considerably.

PP - CR Adequate Contributor: Contributions reflect satisfactory preparation. Ideas offered are sometimes substantive and provide useful insights, but seldom offer a major new direction for the discussion. Contributions tend to be more piecemeal than integrative. Arguments are sometimes presented and are fairly well substantiated and sometimes persuasive. If the person were not a member of the group, the quality of the discussions would diminish somewhat.


NN Non-participant: This person has offered very little or nothing to the discussion to date. Hence, there is an inadequate basis for evaluation. If this person were not a member of the group, the quality of the discussion would not change.

NN Unsatisfactory Contributor: Contributions reflect inadequate preparation. Ideas offered are seldom substantive; they provide few, if any, insights and rarely or never a constructive direction for the group. Integrative comments and effective arguments are absent. Class comments are either obvious, restatement of the contributions of others, isolated from the main discussion, or confusing to the group. If this person were not a member of the group, the quality of the discussion would hardly be affected.

Student discussion is likely to be more constructive and effective if you participate when others in the group are also discussing the Question/s for Assessable Discussion. You cannot expect to stimulate or direct the discussion of your group if you leave your contributions too late. Therefore, you should monitor the discussion board of your group regularly to see what discussion is taking place throughout the Module. Also prepopulates exam section



Due Date: See assignment dates

Value: 6%

Assessment Item 5 - End of semester exam


Task Length

Assessment Criteria:



Due Date: In University exam period

Value: 60%

Your final examination for this unit will be held during the scheduled examination period as indicated by Student Administration in correspondence to you. Examinations will normally be scheduled Monday to Saturday inclusive. Examinations may be held during the day or evening and students should consult the university information which will be made available towards the end of semester. You are advised to make any necessary arrangements with employers now for time off during the examination period to sit this examination. Your participation at the scheduled time is not


negotiable unless there are exceptional circumstances. Note that you will be expected to sit the examination at your recorded study centre. To find out more go to the Exams Office website: http://www.utas.edu.au/exams/home .

Assessment Schedule for On-Campus Students Only In order to pass this unit you must achieve an overall mark of at least 50 of the total available marks. Details of each assessment item are outlined below. For On-Campus students only.

Assessment Items Due Date Value/Weighting Link to Learning Outcomes

Four (4) Online tests To be completed weeks 3, 6, 9, 12 Mon 9.00am - Fri 5.00pm One hour duration Mon 9.00 am - Fri

12% Learning Outcome 1 Learning Outcome 2

Assignment one (1)

2:00pm, Monday 18 August, 2014


Assignment two (2) 2:00pm, Monday 29 September, 2014


Tutorial Engagement Weekly from week 2 6% Learning Outcome 1 Learning Outcome 2 Learning Outcome 3

End of semester exam In University exam period


Assessment Item 1 – Four (4) Online tests

Task Description: The Test comprises 25 multiple-choice questions comprising theory and easy calculations. The purpose of this Test is to assess your understanding of the concepts and issues included in the modules from the previous 3 weeks. The duration of the Test is one hour only. Four tests will be conducted during the semester to check the progress of your learning and understanding of key concepts. Ensure you are prepared before taking the test by having a calculator ready, factor tables and pen and paper, if necessary. You are only allowed one attempt. General feedback regarding these tests will be provided during the lecture time.


Assessment Criteria: 3% of total unit assessment.Your result will not be available until Friday week 3, 6 , 9, 12 at 6.00pm. on MyLO under grades.


Learning Outcome 1 Learning Outcome 2

Due Date: To be completed weeks 3, 6, 9, 12 One hour duration, between Mon 9.00 am - Fri 5.00 pm

Value: 12%


Assessment Item 2 - Assignment one (1)



Assessment Criteria: 11% of the total unit assessment. Results of assignments will be posted through MyLO grades and will be available within a period of 7 to 10 working days. Refer assignment rubric.



Due Date: 2:00pm, Monday 18 August, 2014

Value: 11%

Assessment Item 3 - Assignment two (2)


Task Length No set word limit, however interpretation of calculations, where requested,

will require a minimum of one paragraph.

Assessment Criteria: 11% of the total unit assessment. Results of assignments will be posted

through MyLO grades and will be available within a period of 7 to 10 working

days. Refer assignment rubric.

Link to Unit’s

Learning Outcomes:

Learning Outcome 1

Learning Outcome 2

Learning Outcome 3

Due Date: 2:00pm, Monday, 29 September, 2014

Value: 11%


Assessment Item 4 – Tutorial Engagement

Task Description: Engagement during each tutorial, as evidenced by making one or more oral contributions that add/s value to the tutorial.

Task Length Variable

Assessment Criteria: See table above



Due Date: Weekly from week 2

Value: 6%

Assessment Item 5 - End of semester exam


Task Length

Assessment Criteria:



Due Date: In University exam period

Value: 60%

Your final examination for this unit will be held during the scheduled examination period as indicated by Student Administration in correspondence to you. Examinations will normally be scheduled Monday to Saturday inclusive. Examinations may be held during the day or evening and students should consult the university information which will be made available towards the end of semester. You are advised to make any necessary arrangements with employers now for time off during the examination period to sit this examination. Your participation at the scheduled time is not negotiable unless there are exceptional circumstances. Note that you will be expected to sit the examination at your recorded study centre. To find out more go to the Exams Office website: http://www.utas.edu.au/exams/home .


Submission of Assessment Items

Lodging Assessment Items Assignments must be submitted electronically through the relevant assignment drop box in MyLO. All assessment items must be handed in by 2.00pm on the due date. Where appropriate, unit coordinators may also request students submit a paper version of their assignments. All assignments must have a TSBE Assignment Cover Sheet, which is available as a blank template from the TSBE website: [http://www.utas.edu.au/business-and-economics/student-resources]. All assignments must include your name, student ID number, tutorial day/time, and your tutor’s name. If this information is missing the assignment will not be accepted and, therefore, will not be marked. Please remember that you are responsible for lodging your assessment items on or before the due date and time. We suggest you keep a copy. Even in ‘perfect’ systems, items sometimes go astray.

Late Assessment and Extension Policy In this Policy

1. (a) ‘day’ or ‘days’ includes all calendar days, including weekends and public holidays; (b) ‘late’ means after the due date and time; and (c) ‘assessment items’ includes all internal non-examination based forms of assessment

2. This Policy applies to all students enrolled in TSBE Units at whatever Campus or geographical location.

3. Students are expected to submit assessment items on or before the due date and time specified in the relevant Unit Outline. The onus is on the student to prove the date and time of submission.

4. Students who have a medical condition or special circumstances may apply for an extension. Requests for extensions should, where possible, be made in writing to the Unit Coordinator on or before the due date. Students will need to provide independent supporting documentation to substantiate their claims.

5. Late submission of assessment items will incur a penalty of 10% of the total marks possible for that piece of assessment for each day the assessment item is late unless an extension had been granted on or before the relevant due date.

6. Assessment items submitted more than five (5) days late will not be accepted.

7. Academic staff do NOT have the discretion to waive a late penalty, subject to clause 4 above.

http://www.utas.edu.au/business-and-economics/student-resources


Academic Referencing and Style Guide In your written work you will need to support your ideas by referring to scholarly literature, works of art and/or inventions. It is important that you understand how to correctly refer to the work of others and maintain academic integrity.

Failure to appropriately acknowledge the ideas of others constitutes academic dishonesty (plagiarism), a matter considered by the University of Tasmania as a serious offence.

The appropriate referencing style for this unit is: the Harvard style. For information on presentation of assignments, including referencing styles: http://utas.libguides.com/content.php?pid=27520&sid=199808

Review of Assessment and Results

Review of Internal Assessment It is expected that students will adhere to the following policy for a review of any piece of continuous/internal assessment. The term continuous/internal assessment includes any assessment task undertaken across the teaching phase of any unit (such as an assignment, a tutorial presentation, and online discussion, and the like), as well as any capstone assignment or take-home exam. Within five (5) days of release of the assessment result a student may request a meeting with the assessor for the purpose of an informal review of the result (in accordance with Academic Assessment Rule No. 2 Clause 22 – www.utas.edu.au/university-council/university-governance/rules). During the meeting, the student should be prepared to discuss specifically the marks for the section(s) of the marking criteria they are disputing and why they consider their mark(s) is/are incorrect. The assessor will provide a response to the request for review within five (5) days of the meeting. If the student is dissatisfied with the response they may request a formal review of assessment by the Head of School, with the request being lodged within five (5) days of the informal review being completed. A Review of Internal Assessment Form must be submitted with the formal review (http://www.studentcentre.utas.edu.au/examinations_and_results/forms_files/review_of_assessment.pdf).

Review of Final Exam/Result In units with an invigilated exam students may request a review of their final exam result. You may request to see your exam script after results have been released by completing the Access to Exam Script Form, which is available from the TSBE Office, or at the following link – http://www.utas.edu.au/business-and-economics/student-resources. Your unit coordinator will then contact you by email within five (5) working days of receipt of this form to go through your exam script. Should you require a review of your final result a formal request must be made only after completing the review of exam script process list above. To comply with UTAS policy, this request must be made within ten (10) days from the release of the final results (in accordance with Academic Assessment Rule No. 2 Clause 22 – www.utas.edu.au/university-council/university-

http://utas.libguides.com/content.php?pid=27520&sid=199808

http://www.utas.edu.au/university-council/university-governance/rules


http://www.studentcentre.utas.edu.au/examinations_and_results/forms_files/review_of_assessment.pdf


http://www.utas.edu.au/business-and-economics/student-resources



governance/rules). You will need to complete an Application for Review of Assessment Form, which can be accessed from www.studentcentre.utas.edu.au/examinations_and_results/forms_files/review_of_assessment.pdf. Note that if you have passed the unit you will be required to pay $50 for this review. The TSBE reserves the right to refuse a student request to review final examination scripts should this process not be followed.

Further Support and Assistance

If you are experiencing difficulties with your studies or assessment items, have personal or life-planning issues, disability or illness which may affect your study, then you are advised to raise these with your lecturer or tutor in the first instance. If you do not feel comfortable contacting one of these people, or you have had discussions with them and are not satisfied, then you are encouraged to contact:

DIRECTOR OF POSTGRADUATE PROGRAMS Name: Dr Rob Hecker Room: 304, Commerce Building, Sandy Bay Email: [email protected]

There is also a range of University-wide support services available to students, including Student Centre Administration, Careers and Employment, Disability Services, International and Migrant Support, and Student Learning and Academic Support. Please refer to the Current Students website (available from www.utas.edu.au/students) for further information. If you wish to pursue any matters further then a Student Advocate may be able to assist. Information about the advocates can be accessed from www.utas.edu.au/governance-legal/student-complaints. The University also has formal policies, and you can find out details about these policies from the following link – www.utas.edu.au/governance-legal/student-complaints/how-to-resolve-a-student-complaint/self-help-checklist.



http://www.utas.edu.au/students

http://www.utas.edu.au/governance-legal/student-complaints

http://www.utas.edu.au/governance-legal/student-complaints


Academic Misconduct and Plagiarism

Academic misconduct includes cheating, plagiarism, allowing another student to copy work for an assignment or an examination, and any other conduct by which a student: (a) seeks to gain, for themselves or for any other person, any academic advantage or advancement

to which they or that other person are not entitled; or (b) improperly disadvantages any other student.

Students engaging in any form of academic misconduct may be dealt with under the Ordinance of Student Discipline. This can include imposition of penalties that range from a deduction/cancellation of marks to exclusion from a unit or the University. Details of penalties that can be imposed are available in the Ordinance of Student Discipline – Part 3 Academic Misconduct, see www.utas.edu.au/universitycouncil/legislation. Plagiarism is a form of cheating. It is taking and using someone else’s thoughts, writings or inventions and representing them as your own, for example:

using an author’s words without putting them in quotation marks and citing the source;

using an author’s ideas without proper acknowledgment and citation; or

copying another student’s work.

It also means using ones’ own work from previously submitted assessment items if repeating a unit. If you have any doubts about how to refer to the work of others in your assignments, please consult your lecturer or tutor for relevant referencing guidelines, and the academic integrity resources on the web at http://www.academicintegrity.utas.edu.au/ The intentional copying of someone else’s work as one’s own is a serious offence punishable by penalties that may range from a fine or deduction/cancellation of marks and, in the most serious of cases, to exclusion from a unit, a course, or the University. The University and any persons authorised by the University may submit your assessable works to a plagiarism checking service, to obtain a report on possible instances of plagiarism. Assessable works may also be included in a reference database. It is a condition of this arrangement that the original author’s permission is required before a work within the database can be viewed. For further information on this statement and general referencing guidelines, see www.utas.edu.au/plagiarism/ or follow the link under ‘Policy, Procedures and Feedback’ on the Current Students homepage.

http://www.utas.edu.au/universitycouncil/legislation

http://www.utas.edu.au/plagiarism/


Study Schedule for Distance Students Only

Module Topic Completion Date Time

Allocated

1 Role of the Finance Manager Friday, Semester week 1 1 week

2 Financial Statements, Cash Flows

and Analysis

Friday, Semester week 2 1 week

3 Financial Concepts Friday, Semester week 4 2 weeks

4 Share and Bond Valuation Friday, Semester week 6 2 weeks

5 Long Term Investing Decisions Friday, Semester week 8 2 weeks

6 Long Term Financing Decisions Friday, Semester week 10 2 weeks

7 Short Term Financing Decisions Friday, Semester week 12 2 weeks

8 Special Topics in Managerial

Finance

Friday, Semester week 13 1 week

The following Table sets out the Recommended Readings for each of the Modules, which are also

indicated in the course materials on MyLO.

Module 1: Role of the Finance Manager

1.1 What is finance Chapter 1, Parrino, et alia

1.2 Managerial finance function Chapter 1

1.3 The goal of a firm Chapter 1

1.4 Key Participants Chapter 1

1.5 Business Taxation Chapter 3


Module 2: Financial Statements, Cash Flows and Analysis

2.1 Financial Statements Chapter 4 & 19, Parrino, et alia

2.2 Using Financial Ratio Analysis Chapter 4

2.3 Liquidity, Activity and Debt ratios Chapter 4

2.4 Profitability and Market ratios Chapter 4

2.5 Cash Flow analysis Chapter 3 & 19

2.6 Financial Planning process Chapter 3 & 19

2.7 Preparing Pro Forma Statements Chapter 3 & 19

Module 3: Financial Concepts

3.1 Role of time value Chapter 5, Parrino, et alia

3.2 Single amounts and Annuities Chapter 5 & 6

3.3 Other time value concepts Chapters 5 & 6

3.4 Application of time value Chapter 5 & 6

3.5 Fundamentals of Risk and Return Chapter 6

3.6 Single Asset and Portfolio Risk Chapter 6

3.7 Capital Asset Pricing Model Chapter 6

Module 4: Share and Bond Valuation

4.1 Interest Rate Fundamentals Chapter 7, Parrino, et alia

4.2 Corporate Bonds Chapter 8

4.3 Bond Valuation Chapter 8

4.4 Types of Shares Chapter 9

4.5 Share Valuation - Ordinary Chapter 9

4.6 Share Valuation and Decision Making Chapter 9


Module 5: Long Term Investing Decisions

5.1 Capital Budgeting process Chapter 10, Parrino, et alia

5.2 Initial Investment Chapters 10 & 11

5.3 Relevant Cash Flows Chapter 11

5.4 Capital Budgeting techniques Chapter 11, 12 & 13

5.5 NPV and IRR Chapter 12

5.6 Other Budgeting techniques Chapter 12

5.7 Risk in Capital Budgeting Chapter 112

5.8 Capital Budgeting refinements Chapter 12

Module 6: Long Term Financing Decisions

6.1 Cost of Capital Overview Chapter 14, Parrino, et alia

6.2 Cost of Long term Debt Chapter 15

6.3 Cost of Capital Chapter 15

6.4 WACC Chapter 14, 15 & 16

6.5 Dividend Policy Chapter 17

6.6 Types of Dividend and Taxation Chapter 17

6.7 Leverage Chapter 16

6.8 Capital Structure Chapter 16

Module 7: Short Term Financing Decisions

7.1 Net Working Capital Chapter 14, Parrino, et alia

7.2 Cash Conversion Cycle Chapter 14

7.3 Inventory Management Chapter 14

7.4 Accounts Receivable Management Chapter 14

7.5 Current Liabilities Chapter 14

7.6 Short Term Loans Chapter 14


Module 8: Special Topics in Managerial Finance

8.1 Leasing Chapter 20, Parrino, et alia

8.2 Hybrids and Derivatives Chapter 20

8.3 Merger Fundamentals Chapter 18

8.4 International Finance Chapter 21

Study Schedule for On-Campus Students Only

Week

Start of Week

Topic/s and activities

Text Chapter/s

Due Dates

1 14 July 2014 Role and environment Time value of money

Ch 1 & 2Ch 5

2 21 July 2014 Cash flow and financial planning Ch 3 4 & 19

3 28 July 2014 Risk and return Ch 6 & 7 Online test 4 4 August 2014 Share valuation

Capital budgeting and cash flows Capital budgeting techniques

Ch 8Ch 9

5 11 August 2014 Share valuation Capital budgeting and cash flows Capital budgeting techniques

Ch 9Ch 10

6 18 August 2014 Capital budgeting techniques Capital budgeting - risk and refinements

Ch 10Ch 11 Assignment oneOnline test

7 25 August 2014 Capital budgeting - risk and refinements Evaluating projects

Ch 11Ch 12

Mid-semester break: Monday 1 – 5 September

8 8 September 2014 Evaluating projects Cost of capital

Ch 12Ch 13

9 15 September 2014 Working capital and current asset management Leverage and capital structure

Ch 14Ch 15 Online test

10 22 September 2014 Leverage and capital structure Dividends

Ch 15Ch 16Ch 17

11 29 September 2014 Dividends Business formation, growth & valuation

Ch 17Ch 18 Assignment two

12 6 October 2014 Strategic financial planning Options & Corporate finance International financial management

Ch 19Ch 20Ch 21 Online test

13 13 October 2014 Options & corporate finance International financial management Unit Review

Ch 20Ch 21

Examination Period: 25 October to 11 November 2014

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