Магистратура
2024/2025
Предпринимательство и финансовая среда
Статус:
Курс по выбору (Финансы)
Направление:
38.04.08. Финансы и кредит
Кто читает:
Банковский институт
Где читается:
Банковский институт
Когда читается:
1-й курс, 3 модуль
Формат изучения:
с онлайн-курсом
Онлайн-часы:
20
Охват аудитории:
для своего кампуса
Преподаватели:
Димова Елена Анатольевна
Прогр. обучения:
Финансы
Язык:
английский
Кредиты:
3
Course Syllabus
Abstract
An entrepreneurial firm is a young, often high growth business. Such firms differentiate themselves from other forms of organizations through being more innovative, flexible, adaptable, but risky. The knowledge gained during this course will help the financial analysts understand a very specific nature of entrepreneurial finance, associated risks and opportunities, and feel more confident building valuation models and assessing the future perspectives of business ventures. In some cases we will take the viewpoint of the entrepreneur and in others the viewpoint of an investor. The course covers (in varying degree) the following aspects: understanding the performance of small firms; assessing a new venture’s financial strengths and viability; financial analysis for startups; advanced business planning analysis; what unit economics is and why it is important to track unit economics for an early stage startups to make long term financial projections; assessing the risks of a new business and applying risk management frameworks; financing requirements of companies at different stages of the life cycle; sources of financing the small businesses. The course also focuses on the major challenges to venture capital valuation and performance measurement. Students will learn what investors look for in a startup, how to find the value of founder’s ownership before and after additional funding, how to read financial statements and make pro-forma statements, how to determine the financial health of a startup and estimate future earnings; alternative exit routes and their impact on value. The aim of this course is also to enable students to understand the top entrepreneurship trends and to assess the perspectives of startup firms in different industries. Practical applications will include writing a business plan for startup, building startup financial model and value a business venture. Microsoft Excel will be heavily used.
Learning Objectives
- The main objective of this course is to equip students with an integrated set of concepts and applications drawn from entrepreneurship, finance, and accounting, that will provide a higher understanding of the financial aspects of small business entrepreneurship and the financial environment in which these firms exist. The course also aims to develop practical skills and knowledge in the field of entrepreneurial finance (analysis, forecasting, valuation).
Expected Learning Outcomes
- assess a new venture’s financial strengths and viability;
- build financial models for start-up projects and apply core startup valuation methods;
- calculate and track the unite economics of business;
- critically evaluate the potential of a new start-up idea, perform feasibility analysis of the business venture;
- explain alternative exit routes and their impact on value.
- identify and assess the risks of a new business and apply risk management frameworks;
- identify the financing needs of an entrepreneurial firm and asses different financing/funding options;
- perform advanced business planning analysis and write a business plan;
- understand the prospects for a venture and identify the strategy it ought to adopt in order to maximize its performance;
- While each topic comes with its own learning outcomes, we list the most important ones here. After completing this module students should be able to: explain the concepts of entrepreneurial finance and its difference to traditional corporate finance;
Course Contents
- Introduction and the Entrepreneurial Context for New Ventures
- Evaluating Entrepreneurial Opportunities
- Business Planning: Developing and understanding a business plan
- Assessing a New Venture’s Financial Strength and Viability
- Financing / Funding Opportunities for a New Venture.
- Valuing Startup Ventures
- Managing Startup Risks
Assessment Elements
- Graded testsDeadline extensions may be allowed for assessments on a case-by-case basis, contingent on individual circumstances. Valid reasons could include medical conditions, family emergencies etc. Extensions are determined individually and not provided to the entire class.
- Final projectStudents with documented valid reasons (such as illness) for missing the scheduled exam (project) will be granted a makeup exam (project) opportunity at a later date. Appropriate confirmation must be provided, such as a medical note. Students who receive an unsatisfactory grade (three or less) are allowed a retake attempt in accordance with the HSE rules. The format of the retake corresponds to that of the final exam (project).
Bibliography
Recommended Core Bibliography
- Colin Barrow, Paul Barrow, & Robert Brown. (2021). The Business Plan Workbook : A Step-By-Step Guide to Creating and Developing a Successful Business: Vol. Tenth edition. Kogan Page.
- Communicating research for evidence-based policymaking a practical guide for researchers in socio-economic sciences and humanities European Commission, Directorate-General for Research, Socio-economic Sciences and Humanities; [Europ. Commission, Directorate-General for Research, Directorate L - Science, economy and Society, Unit L.2 - Research in the Economics, Social Sciences and Humanities - Prospective. Contact: Louisa Anastopoulou]. (2010).
Recommended Additional Bibliography
- Barbour, G. J., & Central Michigan Univ., M. P. I. for P. and C. D. (1975). Principles of Economics: Course Administrative Manual [And] Unit Study Guide.