Managerial Finance [Fin 3403-0898] – University of West Florida – UWF

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Managerial Finance [Fin 3403-0898]
                                       Online Instruction
                                           Spring 2011
                       Professor R. Daniel Pace, University of West Florida


    January       Week Topics                                     Chapters
 M T W Th F
  9    11            1   Intro, C1         1 An Overview of Financial Management.
MLK    18            2   C1, C5            2 Financial Markets and Institutions.
 23    25            3   C5                3 Financial Statements, Cash Flow, and Taxes.
 30                  4   C3,C5             4 Analysis of Financial Statements.
    February                               5 Time Value of Money.
        1            4   Exam 1            6 Interest Rates.
  6     8            5   C2, C4            7 Bonds and Their Valuation.
 13    15            6   C6                8 Risk and Rates of Return.
 20    22            7   C7                9 Stocks and Their Valuation.
 27    29            8   C8               10 The Cost of Capital.
     March                                11 The Basics of Capital Budgeting.
  5     7            9   C9               12 Cash Flow Estimation and Risk Analysis.
 12    14           10 Exam 2             15 Distributions to Shareholders: Dividends
 19    21                Spring Break        and Share Repurchases.
 26    28           11 C10, C11
      April
  2     4           12 C11, C12              Note that all exams must be proctored
  9    11           13 C12                   See syllabus for details
 16    18           14 C12
 23    25           15 C15, review
 30
      May
        2           16 Final Exam Week
         Online Students are welcome on a space available basis to attend live lectures on
                Mondays and Wednesdays 10:00 to 11:15; Building 74 Room 102


                                   Contacting Professor Pace
                                     Email dpace@uwf.edu
                                         Cell 516-4999

                                         Office Hours
                     8:00-10:00 Mondays, Wednesdays, and by appointment

                                            Grading
                                       10 point scale, +/-
                               Three exams each 25% , Aplia 25%


               Fundamentals of Financial Management 12th, Brigham and Houston
                               See syllabus, "Textbook Options"
Managerial Finance [FIN 3403-0905]                                           Online Class Spring 2012
University of West Florida                                                        R. Daniel Pace, PhD


Course Objectives
       This is a survey course designed to introduce the student to the fundamentals of financial
       management. The student will be introduced to important financial concepts and
       analytical techniques commonly employed in the financial decision-making process.

Prerequisites
       Business Majors: ECO 2013, ECO 2023, STA 2023, ACG 2071, MAC 2233; Non-
       Business Majors: MAC 1105, STA 2023, ECO 3003. If you have questions about the
       prerequisite(s) for this course, contact the department of ACCOUNTING/FINANCE at
       (850) 474-2717.

Student Learning Outcomes [Exams focus on SLOs]
       After completing this course, students will be able to demonstrate an understanding of:
       1.      The goal of financial management in the firm (attained throughout the class);
       2.      Time value of money concepts and calculations (used throughout class,
               extensive Aplia coverage, dominating concept of Exam 1);
       3.      The concepts of risk and return (dominating concept of Exam 2);
       4.      The use of capital budgeting tools in the estimation of cash flows and the
               analysis of long-term investment decisions (dominating concept of Exam 3).
       5.      Use of financial Statements (covered in 4 quizzes in Aplia throughout the term).

Text
                                                        th
        Fundamentals of Financial Management, 12 edition by Eugene Brigham and Joel
        Houston ISBN-10: 0324597703 ISBN-13: 9780324597707 ( 2009, Cengage Learning)
        Please note that these ISBNs are for the general text and not the Aplia bundles.

        Finance Equations & Answers ISBN 10: 1423208595; ISBN 13:9781423208594

        Aplia Bundle ISBN: 9780324824124
                           th                                                     th
        Note that the 13 edition of this text is already in print so the 12 will have little
        resale value.

              1
Text Options
       1.         Use Aplia's digital delivery (you have digital rights to the text for the term--$90).
                  I would recommend finding an older edition in the used market for reference,
                  which should be about $20. Recommended option.
                  http://www.amazon.com/Fundamentals-Financial-Management-Eugene-
                  Brigham/dp/0324178298/ref=pd_sim_sbs_b_8
        2.        Buy text at UWF bookstore after confirming that it is an Aplia-Text Bundle (likely
                  over $250+).
        3.        Use Aplia to purchase a hard copy of the text (an additional $100ish).
        4.        Use a third party seller, spend $240 retail and then spend another $90 for Aplia.




1
 A basic lesson in finance--spending less money for the same product is almost always
preferred.


Page 2 of 7
Managerial Finance [FIN 3403-0905]                                         Online Class Spring 2012
University of West Florida                                                      R. Daniel Pace, PhD


Contact Information
       Office             Building 76, Room 225
                                                2
       Phone              516-4999 (Cell phone)
                          474-3201 (Office)
                          474-2717 (Departmental office)

         E-mail           dpace@uwf.edu
                          d_pace@bellsouth.net
Office Hours
        8:00-10:00 am Mondays and Wednesdays, and by appointment

         No office hours during holidays or final exams. During office hours I may be in my office,
         the tax library, or SAIL. Please call my cell phone if you cannot find where I am helping
         students.

Grades
         Calculation
                Test 1    25%
                Test 2    25%
                Test 3    25%
                Aplia     25%
         Scale

                                 Class          Letter
                                Average        Grade
                                    92            A
                                90  92            A-
                                87  90            B+
                                82  87            B
                                80  82            B-
                                77  80            C+
                                70  72            C
                                60  70            D
                                    60            F



Calculators and cell phones
       Following the lead of the CFA Institute I have largely adopted their positions concerning
       cell phones and calculators:

                  CFA Institute is concerned not only for the distraction posed by ringing
                  telephones, but also for the potential for cheating. With camera and text
                  messaging capabilities, cell phones are actively being used by students around
                  the world to take an unfair advantage. Therefore, to ensure a fair and equitable
                  opportunity for all candidates, cell phones are not allowed.


2
  Please use your common sense and courtesy. If the evil Florida Gators are, by some quirk of
fate, unfairly ahead of Florida State during a sporting event, I do not need a call to confirm this
travesty--bad evil gators.


Page 3 of 7
Managerial Finance [FIN 3403-0905]                                       Online Class Spring 2012
University of West Florida                                                    R. Daniel Pace, PhD


                ...

                You should practice and become proficient at using any of the specific
                calculator features needed to address the learning outcome statements
                (LOS) in the curriculum (emphasis added). Examples include, but are not
                limited to, present and future values, annuity payments, square roots, and
                exponents. You should also know how to use general features of your chosen
                calculator, such as changing the number of decimal places displayed.

                ...

                Many calculators have text-storing capabilities. Students could bring text stored
                in the calculator into the testing room, creating an unfair situation. Both of the
                models approved for use are available for sale worldwide and are relatively
                inexpensive. The policy was developed to create a level playing field for all
                students.

        During an exam, the CFA considers possession of a cell phone as cheating. During
        class or exams my requirement is that cell phones are turned off (not merely
        silenced).

        Two calculators are approved for 3403 and students are required one of these for
        classes, homework and tests.

                                  The approved calculators are:
                                   Texas Instruments BAII Plus
                                      Hewlett Packard 10BII

        Calculator covers are permitted in the testing room. The Texas Instruments BAII Plus
        cover contains a keystroke card; Students may refer to these keystroke instructions;
        however, you may not write notes or formulas on the calculator covers . The HP
        calculator is intuitive and does not require a keystroke card.

        The Aplia homework sets include modules tailored to teach students how to use either
        the TI or the HP. You are should use the appropriate module for your calculator. Finally,
        requiring a financial calculator teaches students an important tool and allows more
        complex and practical financial problems.


Aplia Website

How to access your Aplia course

        Managerial Finance, R Daniel Pace, Spring 2012

        Instructor:     Daniel Pace
        Start Date:     01/06/2012
        Course Key:     PPAP-66TR-H9QP

Registration

        Aplia is part of CengageBrain, which allows you to sign in to a single site to access your
        Cengage materials and courses.

        1.      Connect to http://login.cengagebrain.com/


Page 4 of 7
Managerial Finance [FIN 3403-0905]                                       Online Class Spring 2012
University of West Florida                                                    R. Daniel Pace, PhD


       2.      If you already have an account, sign in. From your Dashboard, enter your course
               key (PPAP-66TR-H9QP) in the box provided, and click the Register button.
               If you don't have an account, click the Create a New Account button, and enter
               your course key when prompted: PPAP-66TR-H9QP. Continue to follow the on-
               screen instructions.

       Payment

               Online: Purchase access to your course (including the digital textbook) from the
               CengageBrain website.

               Bookstore: Purchase access to Aplia from your bookstore. Check with the
               bookstore to find out what they offer for your course.

       After paying, you will have the option to purchase a physical book at a discounted
       price. If you choose to pay later, you can use Aplia without paying until 11:59 PM
       on 01/26/2012.

       You will only need to register once. After the registration process is complete, you will not
       need to enter the course key again. For technical problems or problems signing in,
       please send Aplia an e-mail by clicking on the "Help" link in the upper-right corner of any
       page or by e-mailing support@aplia.com.

       Student benefits: By completing regular work in association with the lectures, you will
       better prepare yourself for the lectures and exams in the course. Cramming is not an
       effective method of learning. Think of the regular assignments on Aplia as a weekly
       workout. Practicing and applying what you are learning from Aplia and lecture will better
       prepare you for class.

       Aplia assignments: Many assignments come in pairs of practice and graded problem
       sets. The practice sets give you immediate feedback about whether your answer is right
       or wrong and an explanation of the correct answer. They are not counted as part of your
       homework grade. Use them to check your understanding of the material. If you are
       confident, you can go directly to the graded problem set, and refer back to the practice
       set only if you want some additional help.

       The graded problem sets have a firm due date. You can change your answers as many
       times as you like before the due date has passed. Once the due date has passed, the
       grade will be recorded and it will not be possible to change your answers or complete the
       assignment at this point. In other words, Aplia assignments must be completed by the
       due date. The software does not care whether you have an excuse or not. These
       assignments are posted weeks in advance. Do them early to avoid any emergencies
       preventing your completion before the due date. After the due date, you will be able to
       see the correct answers and the explanations for graded problems.


       Disclaimer: I am not financially affiliated with Aplia and receive no monetary benefit from
       requiring this material.




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