International Financial Management

Bachelor 2023/2024

Type: Compulsory course (Business Administration)

Area of studies: Management

Delivered by: Department of Financial Management

Where: Graduate School of Business

When: 3 year, 3 module

Mode of studies: offline

Open to: students of one campus

Instructors: Dmitry Sizykh

Language: English

ECTS credits: 4

Contact hours: 40

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Abstract

The course "International Financial Management" belongs to the disciplines for choosing a professional cycle of the curriculum for preparing a bachelor in the direction of Business Management.The companies' operation at the international level can bring quite a lot of profit. Therefore, many companies are turning into multinational corporations (MNCs). Financial managers of such companies must be able to assess the international environment, recognize opportunities, implement strategies, assess risk exposure and manage risk. In particular, the adoption of managerial decisions by financial managers in the implementation of the international activities of the company includes: attraction of financial resources from international capital markets, evaluation of international investment projects, valuation of international business. MNCs are most capable of responding to changes in the international financial environment. What is provided by the special training of students, which includes the teaching materials of this course. The main provisions of the discipline can be used in the future when performing term papers and final qualifying work.

Learning Objectives

Understanding the main theoretical provisions and methods of managing the company's finances in carrying out international activities and attracting financial resources from international capital markets, as well as gaining practical skills in calculating exchange rates, managing cash flows in the company and the ability to analyze and assess the risks of international activities.
The study of the conceptual and categorical apparatus in the field of international financial management.
Development of skills in financial and economic calculations in relation to international cash flows generated by the financial, operational and investment activities of the company.

Expected Learning Outcomes

Understand the risks in international financial management
Understanding of the international financial environment, motives, risks and main reasons of business expansion in the international financial environment;
to be able to explain the functions of international financial management; be able to navigate international standards of supervision and control.
understanding the mechanism of functioning of the international currency market;
understanding the main measurements of currency risk; be able to distinguish between the pros and cons of financing and investing in foreign currency;
to be able to analyze the exposure of business to the main classes of financial risks of international economic activity and explain what protective mechanisms can be applied in a particular case.
to be able to quantify the risks and benefits of geographic diversification
understanding the process of making corporate financial, credit and investment decisions in a multicurrency environment and the financial theories that substantiate them;
to be able to construct financial models taking into account currency, interest and insurance risk
to be able to quantify the risks and benefits of geographic diversification;
to be able to distinguish between techniques needed to solve problems in leveling exposure to currency, interest rate and country risk, in debt and equity financing, in cross-border investment.

Course Contents

International Financial Management: General Concepts, Subject, Purpose and Objectives
First topic
Accounting for exchange rates in the international operations of the company
Risks in the company's international operations
Management of long-term assets and liabilities
International corporate governance and control
Management of short-term assets and liabilities
Valuation of an international company.

Assessment Elements

Activity
Current monitoring. Attending seminars and answering questions.
Interim test
Interim test is carried out on the Start Exam platform.
Exam test
Exam test is carried out on the Start Exam platform

Interim Assessment

2023/2024 3rd module
0.2 * Activity + 0.4 * Exam test + 0.4 * Interim test

Bibliography

Recommended Core Bibliography

Jeff Madura, & Roland Fox. (2020). International Financial Management, Edition 5. Cengage Learning.

Recommended Additional Bibliography

Beyersdorff, M., & Ernst & Young. (2017). International GAAP 2017 : Generally Accepted Accounting Practice Under International Financial Reporting Standards. Chichester, West Sussex, United Kingdom: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1450533
Cope, A. T., & Robinson, T. R. (2015). International Financial Statement Analysis (Vol. Third edition). Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=946119
David Alexander, Ann Jorissen, Martin Hoogendoorn, Carien van Mourik, & Collette Kirwan. (2020). International Financial Reporting & Analysis, Edition 8: Vol. Eighth edition. Cengage Learning.
Robinson, T. R., & CFA Institute. (2012). International Financial Statement Analysis Workbook (Vol. Second edition). Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=946117
Tobór-Osadnik, P. D. K., Wyganowska, P. D. M., & Kabalski, P. D. P. (2013). International Financial Reporting Standards vs. homo sovieticus personality the case of Poland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.BC1B9426

Authors

SIZYKH DMITRIY SERGEEVICH

Course Syllabus