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Financial Management.doc


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Financial Management.doc

  1. 1. Financial Management Business 418 Section 201 (Daily 10:00-10:50 a.m.) SMI 453 Winter 2006 Credits: 3 Semester Hours Prerequisite(s): Pre-Business Core (see catalog) Instructor: James Taylor; Office: Smith 309; Phone: x2696; e-mail: Office Hours: MTWTh 4:00-5:00; F 8:00-9:00 (other times by appointment). Messages may be left via voice mail, or with the Business Management secretary’s office (SMI) Required Texts: Core Concepts of Personal Finance, John Wiley & Sons, Inc. Other Requirements:  Calculator: It is required that students have access to a calculator that handles basic business and financial functions, including time value of money calculations and cash flow analysis (IRR / NPV). The instructor strongly recommends the HP 10BII, or 12C.  Campbell Test: Students will be required to take the Campbell aptitude/interest test in the Kimball building. The test will cost approximately $8.00. Course Description: The course will emphasize the tools and techniques of financial planning for individuals. Subject areas include personal and family budgeting, insurance, investments, estate planning, individual income tax planning, home purchase, and the role of financial planners. Course Objectives: The purpose of the class is to get students familiar with personal financial issues and to help them develop a personal financial plan. Basic concepts of financial planning and use of spreadsheet modeling techniques will be taught in the course. Students will learn real-world applications of core financial planning principles. Grading: Quizzes 150 points (10 points each) Spreadsheet Exercises 35 points (5 points each) Final Exam 50 points (25 pts concepts; 25 pts spreadsheet skills) Homework 60 points (5 points each) Other In-Class Exercises 10 points (1 point each) Personal Exploration Paper 25 points (5 points each) Financial Plan Drafts 75 points (15 points each) Financial Plan Final Version 15 points Total 430 points Grading Scale: 93-100% -- A 73-76.99% -- C 90-92.99% -- A- 70-72.99% -- C- 87-89.99% -- B+ 67-69.99% -- D+ 83-86.99% -- B 63-66.99% -- D 80-82.99% -- B- 60-62.99% -- D- 77-79.99% -- C+ 0-59.99% -- Fail NOTES: Quizzes: There will be a quiz over each chapter. Quizzes are designed to make sure you come to class prepared and having read the chapter. Quizzes are oriented toward the identification and understanding of basic concepts. Spreadsheet Exercises: Students will be expected to apply chapter concepts by developing excel spreadsheet solutions. Final Exam: A comprehensive final exam will assess how well students have learned the basic concepts and rules of thumb for personal financial planning. Excel Final: The second part of the final exam will require students to demonstrate some Excel skills. Students will be given several basic problems and will be expected to create “from scratch” Excel spreadsheet solutions. Homework: Homework is due at the beginning of class. Homework is hands-on application oriented and generally requires the student to do something related to the concepts, and as part of the student’s personal financial plan.
  2. 2. Personal Exploration Paper: As part of personal financial planning, students will be required to perform some tasks to make sure that their career choice is a good match with their skills, personality and character. Students will be required to take an aptitude test, interview people, and do some personal evaluation and write the results up in report. Personal Financial Plan: The most important part of the course will be the students development of a personal financial plan. The plan will be prepared and delivered in draft installments, followed by a final combined plan. Class Policies: • Attendance is important. Although attendance is not recorded, please be aware that some test material will come from in- class lectures, as well as from the text and other reading materials. In addition, case assignments and “in-class” homework assignments will be handed out and turned in during class. These assignments will not always be announced or listed on the schedule. • If you miss class for any reason, it is your responsibility to contact a classmate or the instructor (during office hours) to determine if any assignments were made or schedules changed. • There is no extra credit. • Late homework assignments will be marked down by 50% and must be turned in BY THE END OF THE NEXT DAY. No assignments will be accepted after the final day of class. Any assignments may be turned in early. • If an assignment is late due to a legitimate medical emergency or family emergency, please contact the Instructor via voice mail, email, etc. and we will work out a reasonable schedule. Please turn in class work early if you plan to miss a class for personal (non-emergency) reasons. • Grading updates on web site – If you prefer that the teacher NOT use the last four digits of your social security number to identify your work, please provide your own substitute four digit code. • Please do not use your name on your homework and assignments, please use the last four digits as your identifier. • Please turn off cell phones before the start of class • Do not surf the web during class. • No food is allowed in class • While students are encouraged to study in groups, actual work product which you turn in must be of your own creation. It is not acceptable to obtain or modify someone else’s file. You must generate the work product individually. • Code of Honor and Grooming standards will be observed in the classroom and in the testing center. • IN COMPLIANCE WITH APPLICABLE DISABILITY LAW, QUALIFIED STUDENTS WITH A DISABILITY MAY BE ENTITLED TO “REASONABLE ACCOMMODATION.” IT IS THE STUDENT’S RESPONSIBILITY TO DISCLOSE TO APPROPRIATE PERSONNEL IN THE SSD OFFICE ANY SPECIAL NEED HE OR SHE MAY HAVE AND TO PROVIDE THE APPROPRIATE DOCUMENTATION OF THE DISABILITY. THE SSD OFFICE IS LOCATED INSIDE THE LEARNING ASSISTANCE CENTER, MCKAY LIBRARY 1ST FLOOR.
  3. 3. Date Discussion Topic Reading Assignment(s) due today: Special Notes: Assigned January 9 Mon Introduction—Course Review 10 Tues The Financial Planning Process Ch 1 11 Wed Financial Planning / Budgeting Ch 1 HW: Money, spending, values, needs/ wants Quiz: Ch 1 12 Thur Budgeting Ch 2 HW: pers. fin’l statements, pers. fin’l ratios, Quiz: Ch 2 budget 13 Fri Budgeting Haynie HW: Excel Budget, Haynie version Article Pers. Eval. #1 – Self Assessment 16 Mon No Class – Holiday No Class 17 Tues Taxes Ch 3 Campbell Test Completed Students Present 3 Quiz: Ch 3 18 Wed Taxes HW: Tax Calculations 19 Thur Campbell Test Results HW: Excel Tax Template 20 Fri Time Value of Money Ch 4 Fin’l Plan - Section #1 Draft Due Students Present 4 Quiz: Ch 4 23 Mon Time Value of Money Pers. Eval. #2 –Self vs. Test Due 24 Tues Time Value of Money HW: Excel TVM & Retirement Calc’s 25 Wed Tax-Favored Retirement Programs Ch 18 HW: Internet retirement calc Students: Ch 18 Quiz: Ch 18 26 Thur Tax-Favored Retirement Programs HW: IRA application 27 Fri Estate Planning Ch 19 Per. Eval.#3 – Personal Interviews Students: Ch 19 Quiz: Ch 19 30 Mon Estate Planning HW: Executor Interview & Excel Problem 31 Tues Property & Casualty Insurance Ch 10 Fin’l Plan - Section #2 Draft Due Quiz: Ch 10 Students: Ch 10 February 1 Wed Property & Casualty Insurance HW: Auto Insurance Policy 2 Thur Life Insurance Ch 11 Quiz: Ch 11 Students: Ch 11 3 Fri Life Insurance HW: Life Insurance Quotes 6 Mon Health Insurance Ch 12 Pers. Eval. #4 – Career Interviews Quiz: Ch 12 7 Tues Health Insurance HW: Health Insurance 8 Wed Bonds Ch 13 Students: Ch 13 Quiz: Ch 13 9 Thur Bonds HW: Bonds & Excel 10 Fri Stock Ch 14 Fin’l Plan - Section #3 Draft Due Students: Ch 14 Quiz: Ch 14 13 Mon Stock HW: Stock & Excel 14 Tues Mutual Funds Ch 15 Pers.Eval. #5 – SWOT Analysis Quiz: Ch 15 Students: Ch 15 15 Wed Mutual Funds HW: Bond Fund Analysis 16 Thur No Class No Class 17 Fri No Class No Class Fin’l Plan – Section #4 Draft Due 20 Mon No Class - Holiday No Class 21 Tues Social Security Ch 17 Students: Ch 17 Quiz: Ch 17 22 Wed Credit Cards Ch 6 Pers. Eval. #6 – Final Due Students: Ch 6 HW: Your Social Security Benefits Quiz: Ch 6 23 Thur Buying & Selling Personal Assets Ch 8 Fin’l Plan - Section #5 Draft Due Students: Ch 8 HW: CC Shopping & comparison Quiz: Ch 8 24 Fri Buying & Selling Personal Assets Ch 8 HW: Auto Values; Home Values (KBB, etc.) 27 Mon Financing Personal Assets Ch 9 Students: Ch 9 Quiz: Ch 9 28 Tues Financing Personal Assets Ch 9 HW: Borrowing Rates, Process, Loan Amortization March 1 Wed Review 2 Thur Concepts Final 3 Fri Excel Final
  4. 4. Date Discussion Topic Chapter Student to Present Chapter Concepts Jan 17 Tues Taxes Ch 3 Jan 20 Fri Time Value of Money Ch 4 Jan 25 Wed Tax-Favored Retirement Programs Ch 18 Jan 27 Fri Estate Planning Ch 19 Jan 31 Tues Property & Casualty Insurance Ch 10 Feb 2 Thur Life Insurance Ch 11 Feb 6 Mon Health Insurance Ch 12 Feb 8 Wed Bonds Ch 13 Feb 10 Fri Stock Ch 14 Feb 14 Tues Mutual Funds Ch 15 Feb 21 Tues Social Security Ch 17 Feb 22 Wed Credit Cards Ch 6 Feb 23 Thur Buying & Selling Personal Assets Ch 8 Feb 27 Mon Financing Personal Assets Ch 9