Curricular Unit:Code:
Financial Management II1175GF2
2UndergraduateBusiness Sciences8 ects
Learning Period:Language of Instruction:Total Hours:
Spring SemesterPortuguese/English104
Learning Outcomes of the Curricular Unit:
The main purpose of this course is to endow the students with concepts, theoretical framework and practical skills that enable (1) To recognize the importance of financial planning, to build budgeted statements (based on Portuguese accounting plan and rules), and to anticipate future financial need; (2) To characterize different forms of internal and external financing: equity and debt; To apply principles of financial calculus to debt financing, in short term (bank overdraft, discount of bills of exchange, factoring) and in medium and long term (repayments of loans, leasing contracts or bonds); To select the most appropriate funding source. (3) To understand the impact of capital structure and dividend policy in firms’ value.
1 Financial planning and budgeted financial statements: cash budget, financial budget, projected balance sheet, projected profits and losses statement.
2 Corporate financing: equity and debt (bank loans, leasing, factoring, bond loans).
3 Capital structure and dividend policy: costs/benefits of debt, theories of capital structure, dividend policies.
Demonstration of the Syllabus Coherence with the Curricular Unit's Objectives:
The syllabus presented covers the essential areas of knowledge and consistently achieves the objectives. In particular:
1 Financial Planning. Characterization of the objectives and bases of medium- and long-term financial planning and annual planning. Articulation of different budgets (sales, production, inventory, industrial and non-industrial costs, investments and financing) in order to produce budgeted financial statements and anticipate of future financial needs.
2 Corporate Financing. Distinction between equity and debt, identification and characterization of different forms of financing. Presentation and operationalization of concepts of financial calculus to debt financing.
3 Capital structure and dividend policy. Characterization of different theories of capital structure and on the impact of dividend policy in the firms’ value.
Teaching Methodologies (Including Evaluation):
The teaching methodology is explanatory and participatory in nature and includes the presentation of concepts, together with practical examples and the resolution and analysis of case studies. The skills assessment will be determined based on the performance of two intermediate tests (with a weighting of 40% % each in the final grade), homework (10%) and classroom exercises (10%).
Demonstration of the Coherence between the Teaching Methodologies and the Learning Outcomes:
The combination of theoretical presentations and problem solving tasks enables students to acquire specific theoretic knowledge in financial management as well as to practice its application to specific case-scenarios.
Bastos, C. (2018). Finanças Empresariais – Teoria e prática, 2/e. Lisboa: Edições Sílabo.
Brealey, R., Myers, S. and Marcus, A. (2018). Fundamentals of Corporate Finance, 9/e. New York: McGraw Hill.
Matias, R. (2020). Cálculo Financeiro - Exercícios Resolvidos e Explicados - Vol. II, 2/e. Lisboa: Escolar Editora.
Matias, R. (2018). Cálculo Financeiro - Teoria e Prática, 6/ed. Lisboa: Escolar Editora.
Mota, A., Barroso, C., Nunes, J., Oliveira, L., Ferreira, M. e Inácio, P. (2020). Finanças da Empresa – Teoria e Prática, 6/e. Lisboa: Edições Sílabo.
Nabais, C. e Nabais, F. (2011). Prática Financeira II – Gestão Financeira – 4/e Actualizada e Aumentada. Lisboa: Lidel.
Santos e Laureano (2011). Fundamentos do Cálculo Financeiro. Lisboa: Edições Sílabo.
Shim, J. K. and Siegel, J. G. (2007). Schaum's Outline of Financial Management, 3/e New York: McGraw-Hill.
Williams, J. R., Haka, S. F., Bettner, M. S. and Carcello, J. (2018). Financial accounting, 17th ed. New York: McGraw-Hill.
Lecturer (* Responsible):
Sandra Bernardo (