Corporate Financial Management

Relations:

It is not possible to register for the course U63C4302 if the student is concurrently registered for or has previously completed the course 32BC-P-POFI-01 (mutually exclusive courses).

The requirement for course U63C4302 can be fulfilled by substitution with the course 32BC-P-POFI-01.

Course guarantor:

Lecturer:

Tutor:

Supervisor:

Institute of Economic Studies

Synopsis:

The aim is to widen and deepen knowledge and skills in the field of financial engineering instruments, the financing needs of the company, as well as performance analysis. The main emphasis will be placed on understanding the company in its entirety and complexity, particularly with regard to the basic function of the target enterprise, increase market value and maximize wealth for shareholders.

Requirements:

Credit:

2 credit tests (min. required pass rate of 60%)

Exam:

Oral exam with reference to the results of the credit tests.

Evaluation according to the study and examination regulations of CTU.

Syllabus of lectures:

1. Basics of corporate finance, Basic accounting statements, their connections - balance sheet, cash flow statement, cash flow statement

2. Property and financial structure of the company and their optimization, WACC, balance sheet rules /S 59 77,

3. Financial resources of the company, self-financing, own and external sources of financing, special forms of financing of the company, leasing, factoring, forfeiting

4. Revenues, costs and profit, fixed and variable costs, break-even point, profit versus cash flow /

5. Financial analysis, absolute indicators, ratio indicators, summary indicators - Altman, IN05. EVA indicator. Intercompany comparison

6. Short-term financial management, management of current assets, liquidity and working capital

7. Long-term financial management, financial strategy, capital planning and optimization of capital costs, investment decision-making methods, risk and the concept of time value of money

8. Investments and their effectiveness, investment evaluation methods, and investment project payback period. assessment of the effectiveness of a business investment according to expected cash flows

9. Financial planning, long-term and short-term, principles, methods and procedures of drawing up a financial plan depending on the stage of the life cycle, use of indicators of financial analysis as a rational basis for financial planning.

10. Enterprise and financial market investment rating, concept of proper management Corporate Governance

11. Corporate finance in international exchange

12. Taxes, financial management and financial policies of the company

13. Capital concentration, merger, acquisition

14. Final workshop

Syllabus of tutorials:

1. Introductory exercise, organization. Basics of corporate finance. Principles of financial management of the company.

2. Property and financial structure of the company. Cost of equity and debt capital, WACC. Optimizing the financial structure of the company.

3. Profit and depreciation as a source of financing, banking sources and capital market instruments, leasing financing of the leasing price and the leasing factor. Calculation of the comparison of leasing costs with a loan.

4. Sales, revenues and profit, costs and calculations, fixed and variable costs and BEP, cash flow of the company. Essence and meaning of CF, indirect and direct method of constructing CF.

5. Methodology of financial analysis of the company and calculations of basic indicators, ascertainment of financial health, complex indicators, costs of working capital and calculations of optimization of financing of current assets

6. Methods of calculating liquidity and working capital including NWC

7. The time value of money in the financial decision-making of the company. Future and present value of money. Interest rate and calculation of the interest burden of the company

8. Calculations for investment decision-making, static indicators, dynamic indicators, investment efficiency calculation methods, NPV and internal rate of return, profitability index

9. Measurement and management of business performance, calculation according to methods of financial analysis, time series and trend analysis of ratios and complex indicators as a basis for rational financial planning

10. Calculation of the evaluation of investments in the capital of the enterprise according to the indicators of financial analysis for investments on the capital market.

11. Calculations of the nominal and real exchange rate, examples of foreign exchange risk hedging, examples of the use of foreign exchange market instruments, FOREX

12. Tax optimization methods - examples

13. Modern concepts of measuring and managing business performance, market value added (MVA), ER, TSR, economic value added (EVA).

14. Credit

Study Objective:

The subject aims to show students a comprehensive view of the field of corporate finance and to familiarize them with the theory, principles and practical procedures of financial management in a modern market economy. Students will acquire knowledge and skills in the use of analytical tools and methods for evaluating the company's performance and investment activities, which can help in the further improvement of the company's financial management

Study materials:

ČIŽINSKÁ, R. Základy finančního řízení podniku. Praha: Grada Publishing, 2018. Prosperita firmy. ISBN 978-80-271-0194-8.

HRDÝ, M., KRECHOVSKÁ, M. Podnikové finance v teorii a praxi: moderní metody a trendy. Praha: Wolters Kluwer Česká republika, 2013. Prosperita firmy. ISBN 978-80-7478-011-0.

KNÁPKOVÁ, A., PAVELKOVÁ, D., ŠTEKER, K. Finanční analýza: komplexní průvodce s příklady. 3. rozšířené vydání. Praha: Grada Publishing, 2017. 236 s. ISBN 978-80-271-0563-2.

NÝVLTOVÁ, R., MARINIČ, P. Finanční řízení podniku: moderní metody a trendy. Praha: Grada, 2010. Prosperita firmy. ISBN 978-80-247-3158-2.

SCHOLLEOVÁ, Hana. Ekonomické a finanční řízení pro neekonomy. 3., aktualizované vydání. Expert (Grada). Praha: Grada Publishing, 2017. ISBN 978-80-271-0413-0.

SCHOLLEOVÁ, H., ŠTAMFESTOVÁ, P. Finance podniku. Sbírka řešených příkladů a otázek. Praha: Grada Publishing, 2015. 176 s. ISBN 978-80-247-5544-1.

MAREK, Petr. Studijní průvodce financemi podniku. 2., aktualiz. vyd. Praha: Ekopress, 2009. ISBN 978-80-86929-49-1.

Note:

Further information:

No time-table has been prepared for this course

The course is a part of the following study plans:

• B-EK-prez.forma od 14/15 (compulsory course)
• B-PM-prez. forma od 14/15 (compulsory elective course)
• B-EK-prez.forma od 15/16 (compulsory course)
• B-PM-prez.forma od 15/16 (compulsory elective course)
• B-EK-prez.forma od 16/17 (compulsory course)
• B-EK-prez.forma od 17/18 (compulsory course)
• B-EM-P prezenční studium od 18/19 (compulsory course)
• B-EM-P prezenční studium od 19/20 (compulsory course)
• B-EM-P prezenční studium od 20/21 (compulsory course)
• B-EM-P prezenční studium od 21/22 (compulsory course)
• B-EM-P prezenční studium od 22/23 (compulsory course)