AC3059_vle[1] - Financial management L Fung AC3 059 2012 Undergraduate study in Economics Management Finance and the Social Sciences This subject guide

AC3059_vle[1] - Financial management L Fung AC3 059 2012...

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Financial management L. Fung AC3 059 2012 Undergraduate study in Economics, Management, Finance and the Social Sciences This subject guide is for a 300 course offered as part of the University of London International Programmes in Economics, Management, Finance and the Social Sciences. This is equivalent to Level 6 within the Framework for Higher Education Qualifications in England, Wales and Northern Ireland (FHEQ). For more information about the University of London International Programmes undergraduate study in Economics, Management, Finance and the Social Sciences, see:
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The 2012 edition of this guide was prepared for the University of London International Programmes by: Dr L. Fung, Lecturer in Accounting and Finance, Birkbeck, School of Business, Economics and Informatics It is a revised edition of previous editions of the guide prepared by J. Dahya and R.E.V. Groves, and draws on the work of those authors. This is one of a series of subject guides published by the University. We regret that due to pressure of work the author is unable to enter into any correspondence relating to, or arising from, the guide. If you have any comments on this subject guide, favourable or unfavourable, please use the form at the back of this guide. University of London International Programmes Publications Office Stewart House 32 Russell Square London WC1B 5DN United Kingdom Published by: University of London © University of London 2012 Reprinted with minor revisions 2013 (Introduction only) The University of London asserts copyright over all material in this subject guide except where otherwise indicated. All rights reserved. No part of this work may be reproduced in any form, or by any means, without permission in writing from the publisher. We make every effort to respect copyright. If you think we have inadvertently used your copyright material, please let us know.
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Contents i Contents Introduction ............................................................................................................ 1 Aims and objectives ....................................................................................................... 1 Syllabus ......................................................................................................................... 2 Reading ........................................................................................................................ 4 How to use the subject guide ......................................................................................... 4 Online study resources ................................................................................................... 5 Examination advice ........................................................................................................ 6 Summary ....................................................................................................................... 7 Abbreviations ................................................................................................................ 7 Chapter 1: Financial management function and environment ............................... 9 Essential reading ........................................................................................................... 9 Further reading .............................................................................................................. 9 Works cited ................................................................................................................... 9 Aims ............................................................................................................................. 9 Learning outcomes ........................................................................................................ 9 Two key concepts in financial management .................................................................... 9 The nature and purpose of financial management ........................................................ 11 Corporate objectives .................................................................................................... 14 The agency problem .................................................................................................... 15 A reminder of your learning outcomes .......................................................................... 15 Practice questions ........................................................................................................ 16 Sample examination questions ..................................................................................... 16 Chapter 2: Investment appraisals ......................................................................... 17 Essential reading ......................................................................................................... 17 Further reading ............................................................................................................ 17 Works cited ................................................................................................................. 17 Aims ........................................................................................................................... 17 Learning outcomes ...................................................................................................... 17 Overview ..................................................................................................................... 17 Basic investment appraisal techniques ......................................................................... 18 Pros and cons of investment appraisal techniques ........................................................ 21 Non-conventional cash flows ....................................................................................... 22 Advanced investment appraisals .................................................................................. 23 Practical consideration ................................................................................................. 33 A reminder of your learning outcomes .......................................................................... 34 Practice questions ........................................................................................................ 34 Sample examination questions ..................................................................................... 34 Chapter 3: Risk and return ................................................................................... 37 Essential reading ......................................................................................................... 37 Further reading ............................................................................................................ 37 Works cited ................................................................................................................. 37 Aims ........................................................................................................................... 37 Learning outcomes ...................................................................................................... 38 Overview ..................................................................................................................... 38 Introduction of risk measurement ................................................................................. 38
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59 Financial management ii
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