Course purpose

To train student for the use of tools of financial management that help decision makers in companies to evaluate the impact of business decisions on liquidity, business performance and company's risk.

Content (Syllabus outline)

Financial environment .
Risk and the required return of companies. Determining the cost of capital.
Financial planning of company’s operations (estimation of additional required financial resources in case of constant and variable ratios).
Project valuation / Financial analysis for investment decision making:

cash flows estimation,
investment criteria,
risk analysis (sensitivity, scenarios, simulations, real options and decision trees),
replacement chains and equivalent annual annuities.

Financial aspects of working capital management:

cash conversion cycle,
cash flow planning,
inventories,
receivables (credit policy and analysis of change),
short-term financial investments,
short-term financing.