BUSINESS FINANCE 320

SPRING, 2002

 

Mr. Neal Turner
3249 Schneider Hall
Office Phone:  387-5794 (MESSAGES ANSWERED TWICE A WEEK - Include best times to return call in your message)
Home Phone:  Don't even think about it (except for family emergencies or illness).
E-mail:            nealtturner@hotmail.com
neal.turner@wmich.edu (MESSAGES ANSWERED TWICE A WEEK)

CLASS SCHEDULE:               Call No.      Day(s)                       Time                 Location

                                                    51127              TR                          09:30-10:45   2355 Schneider

                                                35151              TR                   11:00-12:15   2355 Schneider

                                                35096              T                      6:30- 9:00PM   1320 Schneider                                                        

FINAL EXAM DATE:           Call No.            Date                                                    Time   

                                                51127              Wednesday, Dec. 11               10:15 – 12:15 A.M.     

                                                35151              Tuesday, Dec. 10                    8:00 – 10:00 A.M.

                                                35096              Tuesday, Dec. 10                    7:15 – 9:15 P.M.

                                                Your final exam must be taken at the time scheduled for your

                                                section.

OFFICE HOURS:                      3249 Schneider Hall (my office)

                                                Tuesday          01:45-04:30PM

                                                                        06:00-06:30PM

                                                Thursday         01:45-04:30PM

                                                                                                                       

                                                If you have scheduling conflicts with all of the previous

                                                hours, you may want to consider changing to another

                                                section of FCL 320.

TEXT:                          Required:

Fundamentals of Financial Management, Concise Third

                                                Edition, Eugene F. Brigham and Joel F. Houston, The

                                                Dryden Press

                                    Blueprints:  A Problem Notebook

                                                Eugene F. Brigham and Joel F. Houston

                                                                        OR                                                                                                                  Students must print lecture overheads from Text CD prior to lectures.

                                    Strongly Recommended:

                                    Study Guide: Fundamentals of Financial Management (B&H)

CALCULATOR:            Required model:  Hewlett-Packard HP 10B.  ($35-40 price range)

                                   

                                    It is your responsibility to learn how to operate your calculator.  It

                                    is crucial that you are familiar with your calculator by the time we

begin Chapter 7

.   

BUSINESS FINANCE 320

Fall, 2002

                                                                                                                                    Page 2

PREREQUISITES:     ACTY 210 Principles of Accounting

                                    MATH 216 Business Statistics (Remember EXCEL?)

COURSE

    OBJECTIVE:      Contribute to the Haworth College of Business objective of            delivering the

best business program in Michigan and the surrounding states by:

1.      presenting students with an overview of the main facets and tools of business finance:

2.      developing an understanding of how the financial theory concepts and techniques are applied to business decisions; and,

3.      instilling the reality that a full understanding of business finance is essential to survival in the business world.

4.      reinforcing professional life skills.

Upon successful completion of the course, students will:

1.      be able to apply financial theory to practical short-term and long-term problems in corporate finance;

2.      be able to understand how finance fits into the overall business decision-making process;

3.      be cognizant of the thinking process necessary to evaluate, analyze, and comprehend financial issues;

4.      have developed a working knowledge of the tools, techniques, and theories of financial management; and,

5.      have developed a familiarity with the basic technology prevalent in the field of finance.

ATTENDANCE:         On-time attendance is required.  Students missing class will forfeit any quiz

or participation points. 

                                    THE STUDENT ASSUMES SOLE RESPONSIBILITY FOR ANY

MISSED LECTURE NOTES, ASSIGNMENTS, OR ANNOUNCEMENTS.

HOMEWORK:            Homework will be assigned at the end of each class period.  In order to be

graded, homework must be handed-in at the beginning of the class period.  I

strongly recommend that students make copies of their homework submissions to use during class discussion.  Your homework may be submitted by another student in your section; please indicate on the top of the page the student submitting your work.

READING ASSIGNMENTS:

                                    All reading assignments should be completed prior to the first class period

                                    in the week.  (Except Week 1)

BUSINESS FINANCE 320

Winter, 2001

                                                                                                                                    Page 3

COMPUTER SPREADSHEET

ASSIGNMENTS:       There will be two major computer spreadsheet assignments:

                                    1)  A simple loan amortization spreadsheet as part of  Chapter 6 homework;

and,

                                    2)  A cash flow/net present value spreadsheet with Chapter 11    

                                        homework.

                                    In addition, there may be homework problems which will require EXCEL

                                    worksheet solutions.

                                    These assignments will use the EXCEL skills students you learned in

MATH 216.  If you are not familiar or comfortable with the basics of

typing, adding, subtracting, multiplying, and dividing using a package such

as EXCEL or LOTUS 1-2-3,             the computer lab has a self-paced Microsoft OFFICE tutorial that teaches the necessary EXCEL skills.  You must use EXCEL on WINDOWS 95 or 97 software.  Files must be EXCEL 97 or EXCEL 2000 compatible.

PROFESSIONAL LIFE SKILLS:         

A professional business atmosphere is to be maintained in the classroom setting.  As an analogy to your future professional career, assume you are

attending a seminar paid by your firm.  The instructor will evaluate each participant and provide feedback (your grade) to your supervision.  As a result, mutual respect among participants and common courtesy is expected.

Behaviors such as side conversations, leaving class without prior notification, loud snoring, or any other type of distracting behavior are to be avoided.   If a pattern of unprofessional behavior or attitude is demonstrated, a student’s grade may be reduced one full letter grade.

EXAM POLICY:            All students are expected to take the quizzes and exams on the scheduled

                                    dates and times.  I will retain all exams.

Appendix D of your text, or a similar handout, will be distributed with each exam (except the information on certain key ratios – Current Ratio, Quick Ratio, Inventory Turnover, Days Sales Outstanding, and Return on Common Equity).  You             will need only your calculator and pencil to complete exams.

                                    All regular exams will be multiple choice and computer graded unless you

are notified otherwise in class. 

GRADES:                    Homework and class participation/attendance            15%

                                    Quizzes (Unannounced)                                               20%

                                    Exam 1                                                             20%

                                    Exam 2                                                             20%

                                    Final Exam (Comprehensive)                                             25%

                                   

                                    Please note grade adjustment listed under Professional Life Skills

SCALE:                       The scale shown above will be applied to the student’s weighted average test

score.  If the cumulative average score falls below 72%, the scores will be

adjusted so that the average cumulative score is in the C range.

BUSINESS FINANCE 320

Winter, 2001

                                                                                                                                    Page 4

COURSE OUTLINE:      

The following course outline is tentative and subject to change:

LECTURE(S) BY WEEK NUMBER  (Dates = Tuesday):

           

Week 1 (Sept 3.)            Introduction, Overview of Financial Management (Chapter 1), and

                                    Financial Statements, Cash Flow, & Taxes (Chapter 2)

                                    ASSIGNMENT:  Read Chapters 1 & 2

                                    HOMEWORK:    None

           

Week 2  (Sept. 10)            Financial Statements, Cash Flow, & Taxes (Chapter 2)

Analyzing Financial Statements (Chapter 3)

                                    ASSIGNMENT:            Read Chapter 3

                                    HOMEWORK:              Chapter 2 – To Be Assigned

                                   

Week 3 (Sept. 17)            Analyzing Financial Statements (Chapter 3)

Financial Planning & Forecasting (Chapter 4)

                                    ASSIGNMENT:            Read Chapter 4

                                    HOMEWORK:            Chapter 3 – To Be Assigned

Week 4 (Sept. 24)            Financial Planning & Forecasting (Chapter 4)

                                    Financial Environment (Chapter 5)

                                    ASSIGNMENT:            Read Chapter 5

                                    HOMEWORK:            Chapter 4 -To be assigned

Week 5 (Oct. 1)            Financial Environment (Chapter 5)

                                    Time Value of Money (Chapter 7)

                                    ASSIGNMENT:            Read Chapter 5

                                    HOMEWORK:            Chapter 5 – To be assigned

Week 6 (Oct. 8)         EXAM – Chapters 1-5  - Tuesday, Oct. 8

                                    Time Value of Money (Chapter 7)     

                                    ASSIGNMENT:            Read Chapter 7

                                    HOMEWORK:            Exam Preparation

Week 7 (Oct. 15)       Time Value of Money (Chapter 7)

                                    Bonds (Chapter 8)

                                    ASSIGNMENT:            Read Chapter 8

                                    HOMEWORK:            Chapter 7 - To be assigned

BUSINESS FINANCE 320

Winter, 2001

                                                                                                                                    Page 5

Week 8 (Oct. 22)       Bonds (Chapter 8)

                                    Risk & Rates of Return (Chapter 6)

                                    ASSIGNMENT:            Read Chapter 6

                                    HOMEWORK:            Chapter 8 - To be assigned

NOTE:  MONAY, OCTOBER 28  IS THE LAST DAY TO DROP CLASSES

               WITHOUT ACADEMIC PENALTY.

Week 9 (Oct. 29)       Risk & Rates of Return (Chapter 6)

                                    Stocks & Their Valuation (Chapter 9)

                                    ASSIGNMENT:            Read Chapter 9

                                    HOMEWORK:            Chapter 6 - To be assigned

Week 10 (Nov. 5)            Stocks & Their Valuation (Chapter 9)

                                    Cost of Capital (Chapter 10)

           

                                    ASSIGNMENT:            Read Chapter 10

                                    HOMEWORK:            Chapter 9 - To be assigned

Week 11 (Nov. 12)            Cost of Capital (Chapter 10)

                                    The Basics of Capital Budgeting (Chapter 11)

                                    ASSIGNMENT:            Review Chapter 10

                                    HOMEWORK:            Chapter 10 - To be assigned

Week 12 (Nov. 19)            EXAM – CHAPTERS  6 – 10 – Tuesday, Nov. 19

                                    The Basics of Capital Budgeting (Chapter 11)

                                    ASSIGNMENT:            Read Chapter 11

                                    HOMEWORK:            Exam Preparation

Week 13 (Nov. 26)            The Basics of Capital Budgeting (Chapter 11)

Cash Flow Estimation (Chapter 12)

                                    ASSIGNMENT:            Read Chapter 12

                                    HOMEWORK:            Chapter 11 - To be assigned (Due Nov. 26)

Week 14 (Dec. 3)            Cash Flow Estimation (Chapter 12)

                                    ASSIGNMENT:            Review Chapter 12

                                    HOMEWORK:            Chapter 12 - To be assigned

Week 15 (Dec. 9 -             FINAL EXAM WEEK

                 Monday)

BUSINESS FINANCE 320

FALL, 2002

                                                                                                         Page 6

INCOMPLETE POLICY:

                                    Please review the Incomplete Policy shown on page 28 of the 2001-2003

                                    Undergraduate Student Catalog.

ACADEMIC HONESTY:

                                    One of the key purposes of the Hayworth College of Business undergraduate

program is to prepare students to participate ethically and responsibly in the

world of commerce.  A pattern of legal and ethical lapses including Enron,

Arthur Anderson, WorldCom, and even the sainted Martha Stewart suggest

that legal standards, let alone ethics, have not been sufficiently emphasized

in the preparation of individuals for business careers.  I want to be clear that

ANY breach of the Academic Honesty Policy (shown on pages 268-270 of

the 2001-2003 Undergraduate Student Catalog) will not be tolerated.

Hopefully aggressive enforcement of academic honesty policies will

establish patterns of student behavior that will carry-over into professional

roles following graduation.

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