PhD in Business Administration (English)
PhD	TR-NQF-HE: Level 8	QF-EHEA: Third Cycle	EQF-LLL: Level 8

General course introduction information

Course Code:

EMBA521

Course Name:

Corporate Financial Management

Course Semester:

Fall

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	10

Language of instruction:

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Scientific Preparation

Course Level:

PhD

TR-NQF-HE:8. Master`s Degree

QF-EHEA:Third Cycle

EQF-LLL:8. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Prof. Dr. GÖKÇE TUNÇ

Course Lecturer(s):

Prof. Dr. GÖKÇE TUNÇ

Course Assistants:

Course Objective and Content

Course Objectives:

The objective of this course is to analyze the topics of specifics of financial statements; statement of cash flows; financial statement analysis; trend analysis; horizontal and vertical analysis; financial ratio analysis; long-term financial planning; sales of percentage approach; internal and sustainable growth rates; time value of money, present and future values of multiple cash streams; annuities; perpetuities; loan amortization.

Course Content:

Specifics of financial statements; statement of cash flows; financial statement analysis; trend analysis; horizontal and vertical analysis; financial ratio analysis; long-term financial planning; sales of percentage approach; internal and sustainable growth rates; time value of money, present and future values of multiple cash streams; annuities; perpetuities; loan amortization.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) • Explain and analyze the financial statements of a corporation to evaluate the financial performance of the firm.
2) • Recognize the financial planning process, including long-term (strategic) and short-term (operating) financial plans.
3) • Discuss the role of time value of money in finance and calculate the future and present values of different types of cash flows for determining value of various investment alternatives
4) • Compute the market value of financial assets such as bonds and stocks.
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Lesson Plan

Week	Subject	Related Preparation
1)	• Describe the course. • Explain the basic types of financial management decisions and the role of the financial manager. • Explain the goal of financial management. • Recognize the financial implications of the different forms of business organization. • Define value creation as the most fundamental aspect of management and describes agency issues that can arise. • Recognize real-world issues concerning conflict of interest and current controversies surrounding ethical conduct and management pay. • Up-to-date discussion of Sarbanes-Oxley and its implications and impact. • Examine the choice of organization form for a small business. • Syllabus. • Explain the Goal of the firm and agency problems. • Discuss ethics, financial management, and executive compensation. • Discuss Sarbanes-Oxley. • Discuss the minicase: The McGee Cake Company.
2)	• Define the balance sheet and income statement. • Define cash flow and spells out the differences between cash flow and earnings. • Recognize the relevance of market values over book values. • Explain the variation in corporate tax rates across industries in practice. • Identify the key cash flow concepts in a small business setting. • Exlain Balance sheet and Income Statement. • Differentiate Cash flow vs. earnings. • Distinguish Market values vs. book values. • Discuss the implications of the average corporate tax rates. • Minicase: Cash Flows and Financial Statements at Sunset Boards, Inc.	Review the Syllabus. Read in Ross, Westerfield and Jordan (2013) chapter 2 on pages 20-39.
3)	• Recognize Cash Flows and Financial Statements • Identify the sources and uses of cash. • Recognize the statement of cash flows. • Explain Standardized Financial Statements • Identify the evaluation of financial statements: Ratio Analysis • Identify Sources vs Uses of Cash • Recognize Common-size financial statements. • Discuss Short-Term Solvency, or Liquidity, Measures • Discuss Long-Term Solvency Measures • Discuss Asset Management, or Turnover, Measures • Discuss Profitability Measures	Read in Ross, Westerfield and Jordan (2013) chapter 3 on pages 48-78. Review the Lecture Notes.
4)	• Define enterprise value (EV) and discusses the widely used EV–EBITDA ratio. • Explain the basic DuPont equation to better explore the interrelation ships between operating and financial performance. • Analyze how to get and use real-world data thereby applying key chapter ideas. • Explain how to evaluate financial statements. • Illustrate the use of ratios and some pitfalls in a small business context. • Recognize Market Value Measures • Discuss Expanded DuPont analysis. • Justify Expanded DuPont analysis using data from S&P Market Insight. • Discuss The enterprise value–EBITDA ratio. • Minicase: Ratio Analysis at S&S Air, Inc.	Read in Ross, Westerfield and Jordan (2013) chapter 3 on pages 48-78. Review the Lecture Notes.
5)	• Define the percentage of sales approach to creating pro forma statements. • Discuss the importance of financial plan and capacity utilization for a small business. • Recognize a vehicle for examining the interrelationships between operations, financing, and growth. • Explanation of growth rate formulas clears up a common misunderstanding about these formulas and the circumstances under which alternative formulas are correct. • Illustrate the importance of financial planning in a small firm. • Recognize the percentage of sales method. • Compute the external financing needed to fund a firm’s growth. • Analyze the determinants of a firm’s growth. • Analyze some of the problems in planning for growth. • Justify the expanded discussion of sustainable growth calculations. • Discuss the alternative formulas for sustainable and internal growth rates.	Read in Ross, Westerfield and Jordan (2013) chapter 4 on pages 90-112. Review the Lecture Notes.

Sources

Course Notes / Textbooks:	Stephen A. Ross & Randolph W. Westerfield & Bradford D. Jordan © 2010, 2008, 2006 , 2003 by The McGraw-Hill Companies, Inc. ISBN 0-07-738868-2
References:	Stephen A. Ross & Randolph W. Westerfield & Bradford D. Jordan © 2010, 2008, 2006 , 2003 by The McGraw-Hill Companies, Inc. ISBN 0-07-738868-2

Course-Program Learning Outcome Relationship

Learning Outcomes	1	2	3	4
Program Outcomes
1) To gain basic knowledge about the basic functions in the field of business administration and to apply them in real life.
2) To use scientific research methods and technology in decision processes of business.
3) Evaluating the effects of political, legal, geographical, economic and technological factors on the competitive structure of the business area with team work and finding the necessary solutions.
4) To be aware of current issues in the field of business and to gain sensitivity to problems.
5) Transmission of written documents such as reports, printouts, internal correspondence orally in an effective manner.
6) Defining and analyzing the problem by forming a team within the framework of professional expertise and conceptual knowledge and using leadership qualities.
7) To be able to relate to other areas of business, to be aware of global and social ethical norms.

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	To gain basic knowledge about the basic functions in the field of business administration and to apply them in real life.
2)	To use scientific research methods and technology in decision processes of business.
3)	Evaluating the effects of political, legal, geographical, economic and technological factors on the competitive structure of the business area with team work and finding the necessary solutions.
4)	To be aware of current issues in the field of business and to gain sensitivity to problems.
5)	Transmission of written documents such as reports, printouts, internal correspondence orally in an effective manner.
6)	Defining and analyzing the problem by forming a team within the framework of professional expertise and conceptual knowledge and using leadership qualities.
7)	To be able to relate to other areas of business, to be aware of global and social ethical norms.

Learning Activity and Teaching Methods

Field Study
Lesson
Group study and homework
Homework
Project preparation

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Oral Examination
Individual Project

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Midterms	1	% 40
Final	1	% 60
total		% 100
PERCENTAGE OF SEMESTER WORK		% 40
PERCENTAGE OF FINAL WORK		% 60
total		% 100

Workload and ECTS Credit Grading

Activities	Number of Activities	Workload
Course Hours	16	48
Study Hours Out of Class	16	64
Project	1	12
Homework Assignments	5	10
Quizzes	4	2
Midterms	1	15
Final	1	22
Total Workload		173