《公司金融（双语）》教学大纲课程编号：110583A课程类型：□通识教育必修课□通识教育选修课√专业必修课□专业选修课□学科基础课总学时：64 讲课学时：64 实验（上机）学时：0学分：3适用对象：金融实验班、投资学班、金融工程班先修课程：宏观经济学、微观经济学、会计学原理一、教学目标公司金融是以公司为核心，以实现公司价值最大化为研究目标，探讨公司融资、投资、治理等决策。
该课程的教学理念和目标是理论联系实际，把握公司金融领域的基本理论和前沿发展脉络，使学生全面了解企业的各种融资机制。
通过本课程的学习，培养学生从宏观和微观的角度对公司有一个全面的认识，掌握公司金融学的基本原理，能熟练使用公司金融理论框架研究分析相关问题，并可将公司金融的理论渗透到后续的专业课程学习中。
目标1：熟练掌握公司金融基本概念和理论知识目标2：熟练运用公司金融理论分析企业所面临的各种问题目标3：熟练阅读公司金融的相关英文文献和资料二、教学内容及其与毕业要求的对应关系本课程是一门专业必修的课程，它的主要内容有：1. Financial Statements and Cash Flow;2. Financial Statements Analysis and Financial Models;3. Valuation and Capital Budgeting;4.Risk and Return;5. The Capital Asset Pricing Model (CAPM);6. The Arbitrage Pricing Theory (APT);7. Capital Structure;8. Dividend Policy;9. Long-term Financing: IPO;10. Options and Futures;11.Short-Term Financing;12. Financial Distress其中，Financial Statements Analysis and Financial Models; Valuation and Capital Budgeting; Risk and Return; The Capital Asset Pricing Model (CAPM); The Arbitrage Pricing Theory (APT); Capital Structure; Long-term Financing 是重点，应精讲、细讲；Financial Statements and Cash Flow; Dividend Policy; Options and Futures; Short-Term Financing; Financial Distress可粗讲。
Introduction:Financial management is a crucial aspect of any organization, ensuring the efficient and effective use of financial resources. A well-established financial management system is essential for the smooth operation of an organization and its long-term success. This article aims to provide an overview of a comprehensive financial management system, highlighting its key components and objectives.1. Financial Planning:Financial planning is the foundation of a financial management system. It involves setting financial goals, forecasting future financial needs, and developing strategies to achieve those goals. This process requires a thorough understanding of the organization's financial position, market conditions, and future prospects.Key components of financial planning include:- Budgeting: Establishing a budget to allocate resources effectively and monitor expenses.- Capital budgeting: Evaluating and selecting long-term investment projects that generate returns.- Cash flow management: Forecasting and managing the inflow and outflow of cash to ensure sufficient liquidity.2. Financial Reporting and Analysis:Financial reporting provides an accurate and timely picture of an organization's financial performance. It includes preparing financial statements, such as the balance sheet, income statement, and cash flow statement, and analyzing these reports to assess the organization's financial health.Key components of financial reporting and analysis include:- Financial statements: Summarizing the financial activities of an organization over a specific period.- Ratio analysis: Using financial ratios to evaluate the organization's liquidity, solvency, and profitability.- Trend analysis: Identifying patterns and trends in financial data to make informed decisions.3. Risk Management:Risk management is an integral part of financial management, aimed at identifying, assessing, and mitigating risks that could impact the organization's financial stability and performance. This involves implementing policies and procedures to minimize potential losses.Key components of risk management include:- Identifying risks: Identifying potential risks, such as credit risk, market risk, and operational risk.- Assessing risks: Evaluating the likelihood and impact of each identified risk.- Implementing risk mitigation strategies: Developing and implementing strategies to minimize the impact of identified risks.4. Internal Control:Internal control is essential for ensuring the integrity of financial records, preventing fraud, and promoting compliance with laws and regulations. It involves establishing policies, procedures, and processes to safeguard assets and ensure the reliability of financial reporting.Key components of internal control include:- Segregation of duties: Assigning responsibilities to different individuals to prevent conflicts of interest.- Regular audits: Conducting periodic audits to assess the effectiveness of internal controls.- Compliance with laws and regulations: Ensuring that the organization adheres to applicable financial regulations and standards.Conclusion:A comprehensive financial management system is essential for the success of any organization. By implementing effective financial planning, reporting, risk management, and internal control measures, organizations can optimize their financial resources, make informed decisions, and achieve their long-term objectives.。
第一章测试1.The Bluebird Company has a $10,000 liability it must pay three years fromtoday. The company is opening a savings account so that the entire amountwill be available when this debt needs to be paid. The plan is to make aninitial deposit today and then deposit an additional $2,500 a year for the next three years, starting one year from today. The account pays a 3% rate ofreturn. How much does the Bluebird Company need to deposit today? （）A:$1,867.74B:$2,079.89C:$4,276.34D:$3,108.09答案:B2.Suzette is going to receive $10,000 today as the result of an insurancesettlement. In addition, she will receive $15,000 one year from today and$25,000 two years from today. She plans on saving all of this money andinvesting it for her retirement. If Suzette can earn an average of 11% on herinvestments, how much will she have in her account if she retires 25 yearsfrom today? （）A:$536,124.93B:$541,414.14C:$595,098.67D:$546,072.91答案:C3.You are investing $100 today in a savings account at your local bank. Whichone of the following terms refers to the value of this investment one yearfrom now? （）A:discounted valueB:present valueC:principal amountsD:future value答案:D4.Sara invested $500 six years ago at 5 percent interest. She spends herearnings as soon as she earns any interest so she only receives interest onher initial $500 investment. Which type of interest is Sara earning?A:interest on interestB:free interestC:simple interestD:complex interest答案:C5.Shelley won a lottery and will receive $1,000 a year for the next ten years.The value of her winnings today discounted at her discount rate is calledwhich one of the following? （）A:simple amountB:future valueC:single amountD:present value答案:D6.Which one of the following will produce the highest present value interestfactor? （）A:8 percent interest for five yearsB:6 percent interest for eight yearsC:6 percent interest for ten yearsD:6 percent interest for five years答案:D7.Which one of the following terms is defined as a conflict of interest betweenthe corporate shareholders and the corporate managers? （）A:agency problemB:corporate breakdownC:bylawsD:articles of incorporation答案:A8.Which one of the following is a capital budgeting decision? （）A:deciding whether or not to purchase a new machine for the production line B:determining how many shares of stock to issueC:deciding how to refinance a debt issue that is maturingD:determining how much inventory to keep on hand答案:A9.Which of the following questions are addressed by financial managers? （）A:Should customers be given 30 or 45 days to pay for their credit purchases?B:How should a product be marketed?C:Should the firm acquire new equipment?D:Should the firm borrow more money?答案:ACD10.Which of the following should a financial manager consider when analyzing acapital budgeting project? ( )A:dollar amount of each projected cash flowB:dependability of future cash flowsC:project start up costsD:timing of all projected cash flows答案:ABCD第二章测试1.The formula which breaks down the return on equity into three componentparts is referred to as which one of the following? ( )A:SIC formulaB:profitability determinantC:Du Pont identityD:equity equation答案:C2. A firm uses 2008 as the base year for its financial statements. The common-size, base-year statement for 2009 has an inventory value of 1.08. This isinterpreted to mean that the 2009 inventory is equal to 108 percent of which one of the following? ( )A:2008 inventoryB:2008 total assetsC:2009 total assetsD:2008 inventory expressed as a percent of 2008 total assets答案:D3.If a firm has a debt-equity ratio of 1.0, then its total debt ratio must be whichone of the following? ( )A:0.5B:1.0C:1.5D:0.0答案:A4.Which one of the following will decrease if a firm can decrease its operatingcosts, all else constant? ( )A:return on equityB:return on assetsC:profit marginD:price-earnings ratio答案:D5.During the year, Kitchen Supply increased its accounts receivable by $130,decreased its inventory by $75, and decreased its accounts payable by $40.How did these three accounts affect the firm’s cash flows for the year? ( )A:$165 use of cashB:$95 use of cashC:$95 source of cashD:$245 use of cash答案:B6. A firm generated net income of $878. The depreciation expense was $47 anddividends were paid in the amount of $25. Accounts payables decreased by $13, accounts receivables increased by $22, inventory decreased by $14, and net fixed assets decreased by $8. There was no interest expense. What was the net cash flow from operating activity? ( )A:$876B:$922C:$902D:$904答案:D7.The Bike Shop paid $2,310 in interest and $1,850 in dividends last year. Thetimes interest earned ratio is 2.2 and the depreciation expense is $460. What is the value of the cash coverage ratio? ( )A:1.80B:2.21C:1.67D:2.40答案:D8.Canine Supply has sales of $2,200, total assets of $1,400, and a debt-equityratio of 0.3. Its return on equity is 15 percent. What is the net income? ( )A:$152.09B:$138.16C:$156.67D:$141.41E:$161.54答案:E9.Which one of the following terms is applied to the financial planning methodwhich uses the projected sales level as the basis for determining changes in balance sheet and income statement account values? ( )A:percentage of sales methodB:common-size methodC:sales dilution methodD:sales reconciliation method答案:A10.Financial planning: ( )答案:B11. A firm is currently operating at full capacity. Net working capital, costs, andall assets vary directly with sales. The firm does not wish to obtain anyadditional equity financing. The dividend payout ratio is constant at 40percent. If the firm has a positive external financing need, that need will be met by: ( )A:accounts payable.B:long-term debt.C:fixed assets.D:retained earnings.答案:B12.Which one of the following will cause the sustainable growth rate to equal tointernal growth rate? ( )A:equity multiplier of 1.0B:dividend payout ratio greater than 1.0C:retention ratio between 0.0 and 1.0D:debt-equity ratio of 1.0答案:A13. A firm has a retention ratio of 45 percent and a sustainable growth rate of 6.2percent. The capital intensity ratio is 1.2 and the debt-equity ratio is 0.64.What is the profit margin? ( )A:6.28 percentB:7.67 percentC:9.47 percentD:14.63 percent答案:D14.The Soccer Shoppe has a 7 percent return on assets and a 25 percent payoutratio. What is its internal growth rate? ( )A:4.49 percentB:3.72 percentC:5.54 percentD:4.08 percent答案:C15.An increase in which of the following will increase the return on equity, allelse constant?( )A:depreciationB:salesC:net incomeD:total equity答案:BC第三章测试1.Accepting positive NPV projects benefits the stockholders because: （）。
