公司理财精要Chap001PPT格式课件下载.ppt

1、CORPORATE FINANCEWANG DONG,LecturerInternational Business FacultyEmail:#About me王东 Mischa -Sun Yat-Sen University,BSc in Finance （中山大学岭南学金融本科）-Univeristy of Quneesland（Australia）,MSc in Applied Finance（澳大利亚昆士兰大学金融硕士）-City Univeristy of Macau,DBA Candidate澳门城市大学工商管理博士在读 -Courses taught:#Financial acc

2、ounting 财务会计 Financial reports 财务报告 Macroeconomics 宏观经济学*21-3Course Description This class is to convey the most important concepts and principles of corporate finance at an undergraduate level and retain the three basic themes as the central focus1-4Focus 1An emphasis on intuition-explain the princ

3、iples at work on a common sense,intuitive level before launching into specifics.Underlying ideas are discussed first in general terms,then followed by specific examples that illustrate in more concrete terms how a financial manager might proceed in a given situation 1-5Focus 2A unified valuation app

4、roach-Net Present Value is treated as the basic concept underlying corporate finance.Every subject covered is firmly rooted in valuation,and care is taken to explain how decisions have valuation effects.1-6Focus 3A managerial focus-Students learn that financial management concerns management.The rol

5、e of financial manager as decision maker is emphasized and they stress the need for managerial input and judgment.1-7Required Readings Textbook:#Essentials of Corporate Finance，Sixth Edition，Stephen A.Ross，Randolph W.Westerfield，Bradford D.Jordan,McGraw Hill Recommended Readings:#Financial news from

6、 websites like following:#http:#/ Grade PointsAssignment 50%Final exam 50%Total 100%1-9CalculatorsStudents are required to have one financial calculator.The model“Texas Instruments BA II Plus”is strongly recommended.For more information,please visit the following website:#http:#/ Features of the Cou

7、rse:#The computer skill of MS Excel is essential to the class.The technique of using MS Excel and financial calculator will be demonstrated in the class.1-11Class Discussion and Reading SchedulePart one.Overview of Financial ManagementCh.1 Introduction to Financial ManagementPart two.Understanding F

8、inancial Statements and Cash FlowCh.2 Financial Statements,Taxes,and Cash FlowCh.3 Working with Financial StatementsPart three.Valuation of Future Cash FlowsCh.4 Introduction to Valuation:#The Time Value of MoneyCh.5 Discounted Cash Flow ValuationPart four.Valuing Stocks and BondsCh.6 Interest Rates

9、 and Bond ValuationCh.7 Equity Markets and Stock ValuationPart five.Capital BudgetingCh.8 Net Present Value and Other Investment CriteriaCh.9 Making Capital Investment DecisionsPart six.Risk and ReturnCh.10 Risk and ReturnPart seven.Long-Term FinancingCh.11 Cost of CapitalCh.12 Leverage and Capital

10、Structure1-12Copyright 2011 by the McGraw-Hill Companies,Inc.All rights reserved.McGraw-Hill/Irwin1-13Chapter Outline1.1Finance:#A Quick Look1.2Business Finance and The Financial Manager1.3Forms of Business Organization1.4The Goal of Financial Management1.5The Agency Problem and Control of the Corpo

11、ration1.6Financial Markets and the CorporationRWJ website1-14Key Concepts and SkillsHave a good understanding of:#The basic types of financial management decisions and the role of the financial managerThe goal of financial managementThe financial implications of the different forms of business organ

12、izationThe conflicts of interest that can arise between owners and managers1-15Basic Areas Of Finance1.Corporate finance=Business Finance2.Investments3.Financial institutions4.International financeReturn to Quick Quiz1-16InvestmentsWork with financial assets such as stocks and bondsValue of financia

13、l assets,risk versus return,and asset allocationJob opportunitiesStockbroker or financial advisorPortfolio managerSecurity analyst1-17Financial InstitutionsCompanies that specialize in financial mattersBanks commercial and investment,credit unions,savings and loansInsurance companiesBrokerage firmsJ

14、ob opportunities1-18International FinanceAn area of specialization within each of the areas discussed so farMay allow you to work in other countries or at least travel on a regular basisNeed to be familiar with exchange rates and political riskNeed to understand the customs of other countries;#speak

15、ing a foreign language fluently is also helpful1-19Basic Areas Of Finance1-20Why Study Finance?#MarketingBudgets,marketing research,marketing financial productsAccountingDual accounting and finance function,preparation of financial statementsManagementStrategic thinking,job performance,profitability

16、Personal financeBudgeting,retirement planning,college planning,day-to-day cash flow issues1-21Business FinanceSome important questions that are answered using financeWhat long-term investments should the firm take on?#Where will we get the long-term financing to pay for the investments?#How will we manage the everyday financial activities of the firm?#1-22Financial ManagerFinancial managers try to answer some,or all,of these questionsThe top financial manager within a firm is usually the Chief Financial Officer（