2022/2023
Аналитические инструменты управления финансами предприятия
Статус:
Дисциплина общефакультетского пула
Кто читает:
Департамент финансов
Когда читается:
1 модуль
Охват аудитории:
для всех кампусов НИУ ВШЭ
Преподаватели:
Чуракова Ийя Юрьевна
Язык:
английский
Кредиты:
3
Контактные часы:
28
Course Syllabus
Abstract
The purpose of the discipline is to form the student's knowledge of analytical methods of tools in the management of enterprise finances. As part of the course, students will study decision-making methods in various functional areas of enterprise finance, as well as methods and algorithms for quantitative assessments of the processes of providing enterprise activities with financial resources. The main goal of the course is to familiarize with modern approaches to modeling and optimization of financial operations and functions, approaches to the problem of making economically sound decisions in conditions of uncertainty.
Learning Objectives
- The purpose of the discipline is to form the student's knowledge of analytical methods of tools in the management of enterprise finances.
- To familiarize students with modern approaches to modeling and optimization of financial operations and functions.
Expected Learning Outcomes
- Use financial statement data and non-financial metrics to evaluate company financial performance.
- Analyse financial and non-financial statements to select metrics for building the financial model.
- Evaluate company’s growth drivers and explore the concepts of sales revenue and different qualities of earnings.
- To use Excel Spreadsheets to create simple cost models.
- Create cash flow statements using the direct and indirect methods.
- Calculate liquidity and solvency ratios.
- Design a spreadsheet for complex evaluation of business liquidity and financial stability.
- Calculate Earnings Per Share (EPS), Return on Equity (ROE) and perform the Dupont Analysis.
- Conduct what-if analysis, identify key variables using sensitivity analysis. Perform the results in different formats (text, tables, charts).
- Formulate the main causes of internal and external risks
- Perform Altman’s Z Score Factor Analysis as a general model of Corporate Financial Health.
- Apply Regression Tools to make Predictions, and improve Forecasts with Multiple Regression.
- Describe financial model of the company as part of general business model.
- Formulate goals and planned results for Expert Elicitation process.
- Develop simple company development scenario based on financial metrics and forecasts.
- Develops a simple financial model in Excel based on historical data and other available company information in a case study format.
Course Contents
- Financial and non-financial statements of the company as sources of information for building financial models.
- Accounting and cost models of analysing company performance.
- Logic of complex evaluation of business liquidity and financial stability.
- Business risks under uncertainty. Assessing the probability of bankruptcy of a company based on classical models.
- Concept of company's financial health and financial health diagnostics models.
- Financial model of the company as part of general business model. Analysis of internal financial risks.
- Case-writing practical session
Assessment Elements
- Case writing projectIndividual, in-class, open book
- In-class activities
- Final Written ExamFinal written exam is held during an exam week. The exam is obligatory and cannot be covered by the cumulative grade. The exam lasts 80 minutes and contains 4 problems that includes some problem- solving tasks similar to home assignments and class problems.
Interim Assessment
- 2022/2023 1st module0.2 * In-class activities + 0.5 * Final Written Exam + 0.3 * Case writing project
Bibliography
Recommended Core Bibliography
- Day, A. L. (2012). Mastering Financial Modelling in Microsoft Excel 3rd Edn : A Practitioner’s Guide to Applied Corporate Finance (Vol. Third edition). Harlow: FT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419889
- Michael Rees. (2018). Principles of Financial Modelling : Model Design and Best Practices Using Excel and VBA. Wiley.
- Rees, M. (2008). Financial Modelling in Practice : A Concise Guide for Intermediate and Advanced Level. Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=319172
Recommended Additional Bibliography
- Data analysis and decision making with Microsoft Excel, Albright, S. Ch., 2006