Units
Financial Management
Unit code: GSN413
Contact hours: 3 per week
Credit points: 6
Information about fees and unit costs
It is essential for business leaders and managers who must make financial decisions, to have a fundamental understanding of the operation of financial markets and how these markets impinge on the operation of their organisation. They must know how to properly value cash flows and other assets, and understand the fundamentals of asset diversification, risk and return, and the cost of capital.
This unit introduces students to the national and international financial environments in which they operate from a personal and business perspective. The unit explores the three major lessons in finance: time value, diversification and arbitrage.
Availability
| Semester | Available |
|---|---|
| 2013 13TP2 | Yes |
| 2013 6TP4 | Yes |
Sample subject outline - 6 Week Teaching Period - 4 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
The efficient operation of the financial function within the business firm or other organisation is a critical element for the success of that entity. Financial Managers must understand the operation of financial markets and how these markets impinge on the operation of their organisation. They must know how to properly value cash flows and other assets, and understand the fundamentals of asset diversification, risk and return, and the cost of capital.
Aims
The mission of the MBA and associated programs is to provide world class graduate business education and a stimulating learning experience to current and future business leaders and managers. The aim of this particular unit is to help managers develop a basic understanding of the national and international financial environment, from a personal and business perspective.
Objectives
Course Learning Goals (Postgraduate)
The QUT Business School has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools.
Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Well-researched knowledge and critical understanding applied to issues at the forefront of a specialised discipline area
1.2 Ability to select and use effectively a range of tools and technologies to locate and/or generate information appropriate to the disciplinary context
Be critical thinkers and effective problem solvers (CTA)
2.1 Apply logical, critical and creative thinking and judgement to generate appropriate solutions to problems in the disciplinary context
Be professional communicators in an intercultural context (PC)
3.1 Ability to create and present professional documents and/or reports using high levels of analysis/synthesis/evaluation for a range of contexts and audiences
3.2 Ability to orally communicate and justify ideas and information, at a professional level, for a variety of contexts and audiences, including peers and discipline specialists
Be able to work effectively in a Team Environment (TW)
4.1 Operate effectively and with flexibility to achieve common goals in collaborative settings, using a range of skills, including leadership, negotiation, reflection, proactivity and support for team members
Have a Social and Ethical Understanding (SEU)
5.1 Apply knowledge of the ethical, social and cultural dimensions relevant to business situations, including appropriate standards or codes of practice, to provide courses of action
The specific course learning goals that apply to this unit are shown in the assessment section of this unit outline.
Unit Objectives:
On completing this unit, you will be able to:
1. Demonstrate an understanding of Australian and International financial environments and the role of the financial manager (KS1.1
(MBA 1); CTA2.1 (MBA4)).
2. Demonstrate the ability to apply the principles related to the time value of money in financial calculations (KS1.1 (MBA 1)).
3. Demonstrate the ability to evaluate investment proposals (CTA 2.1 (MBA 4)).
4. Demonstrate an understanding of the role of risk and return and diversification in financial investments (KS1.1 (MBA 1).
Content
The content of the unit has been designed to develop and enhance general, transferable skills and competencies in the presentation and analysis of financial data. As the skills and techniques developed are widely used in the international business environment, this unit is 'international' in focus.
In keeping with QUT's commitment to the internationalisation of its programs, the content of this unit is not exclusively Australian, but draws on a number of case studies from the region and from around the world. While the prescribed text is written by Australians it uses many international examples. The conceptual framework of finance presented in the text and course materials is applicable to the international dimension.
The modules covered in this unit have been selected so as to provide students with a broad grasp of the financial environment in which they will operate. In working through this content, certain generic skills will be fostered that should be easily transferable from one context to another, namely:
- Communication skills - the ability to express ideas (orally and in writing) in a coherent and logical manner before a socially and/or culturally diverse group.
- IT skills - literacy in the use of computers for composition, calculation and presentation and, to support continued learning. In particular the use of spreadsheets to solve quantitative problems. The assignments are designed to develop spreadsheet skills.
- Analytical skills - the ability to understand and conceptualise relationships, to examine and solve problems, and to evaluate, critically, the various contending international perspectives on particular issues. This unit emphasises the use of quantitative skills in solving problems.
- Leadership skills - the ability to define situations and outcomes that do not necessarily exist, and to persuade others of their value.
- Social and relational skills - the ability to work effectively and sensitively within different settings, to develop a high level of awareness of events and trends in national, regional, and global communities.
Approaches to Teaching and Learning
In this unit, students are expected to have completed their assigned reading each week. Class learning will be actively encouraged through assessable assignments and non-assessable problems referred to in the Study Guide.
Students are expected to read the financial press (eg Business pages of the Australian or Sydney Morning Herald, Financial Review, and Business Review Weekly) and think about how the material covered in the unit relates to topical issues.
Course information, lecture overheads, assessable assignments, and other items of interest have been loaded onto the GSN413 Blackboard site, and will be kept up to date. Email communication provides students with an opportunity to discuss important issues with their lecturer and their peers in an informal environment.
Reading
Students are expected to read the relevant material (module notes and text) and to review the lecture slides before attending the lecture. The module notes for each week are preceded by a reading guide. The reading guide indicates which material you should concentrate on; which material should be read lightly and which material should be studied in depth. There are two sets of text reading each week. The first set is essential reading and helps develop the conceptual framework of the unit. The second set is background reading. It should be read lightly with a view to becoming familiar with the financial environment, the jargon and language of finance.
Blackboard Site
The Blackboard Site http://blackboard.qut.edu.au contains the following material under the heading 'Learning Resources':
- Study Guide and Resources Manual. Here you will find up to date reading guide, module notes, a list of recommended weekly textbook practice problems, and solutions to weekly self-study questions.
- Lecture Slides. PowerPoint presentations of each week's slides. Print these off and bring them to the lecture as a basis for note taking.
- Assessable Assignments. Further instructions included on the cover sheet for each week.
- Assessable Assignments Solutions. Shortly after the due date for the assignment a solution will be posted on this site so that you may check your solution with the recommended solution. Provides feedback on how you are progressing in your assignment work.
- Assessable Assignments Progressive Results. Keep an eye on how you are going.
- Sample Examination Questions. Both multiple choice and short answer questions to give you an idea of the structure of questions in the final examination.
- Formula Sheet. This will be included with the examination paper.
- Remedial Maths Slides. A do-it-yourself lecture for those students who are weak in mathematics and algebra, with examples from finance.
- Solution to Textbook Questions and Problems.
Assessment
The Faculty Academic Board determines student grades. The Unit Coordinators provide the detailed assessment results to the Board, working through the relevant school. These results are advisory in nature and do not necessarily constitute the final grades awarded by the Board. In its decisions the Board compares results both within units and programs, using as a guide a set of standard distribution criteria. These criteria enable the Board to systematically compare student performance, but are not applied in a prescriptive fashion.
Assessment items are both formative [f] and summative [s]. Formative assessment is intended to help the learner develop methodologies and knowledge through a process of feedback. Summative assessment is based on outcomes, measuring how the student is performing in terms of knowledge, skills, attitudes and understanding. GSN413 has two assessment items.Students will receive feedback in various forms throughout the semester which may include:
Assessment name:
Assignments
Description:
There will be five of these relatively brief assignments, and they will typically require interpretation and/or financial calculations, with no more than a few pages of written work to be submitted. They have been designed to test the work done each week.
The assessable assignments are designed for formative assessment, and allow the instructor to give timely feedback to students on the application of the material being studied.
Length/Duration: 2-4 pages
Formative or Summative: Formative and Summative
Relates to objectives:
1,2,3,4 and AoL Goals: KS (1.1) CTA (2.1)
Weight:
40%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Weekly
Assessment name:
Final Exam
Description:
Closed book final examination covering course material from week 1 to 6.
Length/Duration: 2 hrs + 10 minutes perusal
Formative or Summative: Summative
Relates to objectives:
1,2,3,4 and AoL Goals: KS (1.1) CTA (2.1)
Weight:
60%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 7 (in class)
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Prescribed Text:
Peirson, Brown, Easton, Howard, and Pinder, Business Finance, 11th edition, McGraw-Hill, 2012.
Calculator:
Students need to have a calculator for this course, preferably a non-programmable financial calculator.
Study Guide:
The GSN413 Study Guide is available on the Blackboard Site: http://blackboard.qut.edu.au
Reference Texts:
Ross, S.A., Thompson, S.C., Christensen, M.J., Westerfield, R.W., and B.D. Jordan, Fundamentals of Corporate Finance, 4th Edition, McGraw Hill, 2007. [RTCWJ]
Bishop, HR., Faff, RW., Oliver, B., and Twite, GJ,. Corporate Finance, Fifth Edition, Prentice Hall, 2004. [BFOT]
Brealey, R., Myers S, Partington G., and Robinson D, Principles of Corporate Finance, McGraw Hill, 2000. [BMPR]
Other Resources:
Additional references can also be found at the unit's Blackboard site.
Risk assessment statement
There are no out of the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the >Emergency video.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 30-Oct-2012
