Course detail
Financing
FAST-MV04Acad. year: 2014/2015
Finances. Financial system. Tools and fundamentals of financial management. Foundation of the firm, its property and financial structure. Current assets in the firm, its management and financing. Short-term and long-term sources of property coverage. Financing of the project (order). The relation between the company and the state budget. Tax system in the Czech republic and its influence in company financing. Investment and national economy. Investment area (return, risk and liquidity). Time value of money. Feasibility study. Evaluation of economic efficiency and financial feasibility of structural investment projects. Procedures and methods for future development simulation of project. Economic efficiency ratios. Risk and uncertainty.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Learning outcomes of the course unit
Students get orientation in management of cash flow in construction company.
Student will learn about tools for management of particular kinds of short-term assets.
Students get orientation in own and other sources of company financing.
Students get basic information about tax system in the Czech republic and impact of taxes on company financing.
Students will learn about calculation of ratios of economic efficiency of investment.
Students will learn about creation of feasibility study.
Students will learn about work with risk and uncertainty in investment area.
Prerequisites
Co-requisites
Planned learning activities and teaching methods
Assesment methods and criteria linked to learning outcomes
Written exam - series of questions oriented in general knowledge and their application in examples, total sum 100 points. Limits for each grade of evaluation will be set. The limit for oral exam approval is 50.
Oral exam is the supplement to written exam. The objective of oral exam is to prove deeper understanding of the issue.
Course curriculum
3. Property and sources for property coverage. Golden rules of financing. Work capital.
4. Own and foreign long-term sources. Short-term liabilities for covering of current assets.
5. Management of cash flows in the structural order.
6.-7. Tax system in the Czech republic.
8. Investment and economy growth. Sorts of investment possibilities.
9. Theoretical appraisal for evaluation of economic efficiency of investment. Time value of money.
10.Feasibility study.
11.Economic analysis. Economic efficiency of investment ratios (NPV, IRR, PB).
12.Analysis of uncertainty according to project financial evaluation. Resources and reason of uncertainty. Inflation.
13.Risk and uncertainty analysis: profit, sensitivity and probability analysis
Work placements
Aims
To get about knowledge and skills regarding to describe and analysis variables as inputs into calculation of economic efficiency. Creation of models for calculation of economic and financial feasibility of investment projects.
Specification of controlled education, way of implementation and compensation for absences
Recommended optional programme components
Prerequisites and corequisites
Basic literature
FOTR, Jiří a SOUČEK, Ivan: Podnikatelský záměr a investiční rozhodování. Grada Publishing, 2005. ISBN 80-247-0939-2. (CS)
KORYTÁROVÁ,Jana a FRIDRICH, Jaroslav a PUCHÝŘ, Bohumil: Ekonomika investic. Brno: Akademické nakladatelství CERM, s.r.o., 2002. ISBN 80-214-2089-8. (CS)
SYNEK, Miloslav a kol.: Manažerská ekonomika. Grada Publishing, Praha, 2007. ISBN 978-80-247-1992-4. (CS)
Recommended reading
Classification of course in study plans
Type of course unit
Lecture
Teacher / Lecturer
Syllabus
3. Property and sources for property coverage. Golden rules of financing. Work capital.
4. Own and foreign long-term sources. Short-term liabilities for covering of current assets.
5. Management of cash flows in the structural order.
6.-7. Tax system in the Czech republic.
8. Investment and economy growth. Sorts of investment possibilities.
9. Theoretical appraisal for evaluation of economic efficiency of investment. Time value of money.
10.Feasibility study.
11.Economic analysis. Economic efficiency of investment ratios (NPV, IRR, PB).
12.Analysis of uncertainty according to project financial evaluation. Resources and reason of uncertainty. Inflation.
13.Risk and uncertainty analysis: profit, sensitivity and probability analysis
Exercise
Teacher / Lecturer
Syllabus
2. Orientation and creation of financial statement (balance-sheet, profit and loss account).
3. Depreciation of property.
4. Characteristic of short-term property and liabilities.
5. Charateristic and creation cash flow.
6. Income tax.
7. Indirect taxes.
8. Basic ratios for evaluation of the economic efficiency of investment.
9. Analysis of uncertainties - profitability, sensitivity and probability analysis.
10.Assignment of project - production of wooden Windows.
11.Continuation of project - profit and loss statement, cash flow statement.
12.Optimization of financial resources - credit, leasing, bonds.
13.Credit test, credit.