| Study programme competencies |
| Code | Study programme competences |
| A1 | Manage an enterprise or small organization, understanding their competitive and institutional position and identifying their strengths and weaknesses |
| A2 | Integrate in any functional area of micro-firms or SMEs and perform fluently any management task commissioned |
| A3 | Evaluate and foreseeing, from relevant data, the development of a company. |
| A4 | Elaborate advisory reports on specific situations of companies and markets |
| A5 | Write projects about specific functional areas (e.g. management, marketing, financial) of the company |
| A6 | Identify the relevant sources of economic information and to interpret the content. |
| A8 | Derive, based on from basic information, relevant data unrecognizable by non-professionals. |
| A9 | Use frequently the information and communication technology (ICT) throughout their professional activity. |
| A10 | Read and communicate in a professional environment at a basic level in more than one language, particularly in English |
| A11 | To analyze the problems of the firm based on management technical tools and professional criteria |
| B1 | CB1-The students must demonstrate knowledge and understanding in a field of study that part of the basis of general secondary education, although it is supported by advanced textbooks, and also includes some aspects that imply knowledge of the forefront of their field of study |
| B2 | CB2 - The students can apply their knowledge to their work or vocation in a professional way and have competences typically demostrated by means of the elaboration and defense of arguments and solving problems within their area of work |
| B3 | CB3- The students have the ability to gather and interpret relevant data (usually within their field of study) to issue evaluations that include reflection on relevant social, scientific or ethical |
| B4 | CB4-Communicate information, ideas, problems and solutions to an audience both skilled and unskilled |
| B5 | CB5-Develop skills needed to undertake further studies learning with a high degree of autonomy |
| B6 | CG1-Perform duties of management, advice and evaluation in business organizations |
| B7 | CG2-Know how to use the concepts and techniques used in the various functional areas of the company and understand the relationships between them and with the overall objectives of the organization |
| B8 | CG3- Know how to make decisions, and, in general, assume leadership roles. |
| B9 | CG4-Learn to identify and anticipate opportunities, allocate resources, organize information, select and motivate people, make decisions under conditions of - uncertainty, achieve the proposed objectives and evaluate results |
| B10 | CG5-Respect the fundamental and equal rights for men and women, promoting respect of human rights and the principles of equal opportunities, non-discrimination and universal accessibility for people with disabilities. |
| C1 | Express correctly, both orally and in writing, in the official languages of the autonomous region |
| C4 | To be trained for the exercise of citizenship open, educated, critical, committed, democratic, capable of analyzing reality and diagnose problems, formulate and implement knowledge-based solutions oriented to the common good |
| C5 | Understand the importance of entrepreneurial culture and know the means and resources available to entrepreneurs |
| C6 | Assess critically the knowledge, technology and information available to solve the problems and take valuable decisions |
| C7 | Assume as professionals and citizens the importance of learning throughout life. |
| C8 | Assess the importance of research, innovation and technological development in the economic and cultural progress of society. |
| Learning aims | |||
| Learning outcomes | Study programme competences | ||
| To understand the importance of corporate planning and financial planning in management. | A1 A4 A5 A6 A8 A11 |
B1 B2 B3 B4 B6 B7 B8 B10 |
C5 |
| to understand valuation basis and logic more deeply. | A3 A4 A5 A6 A8 A9 A11 |
B1 B5 B7 B9 |
C8 |
| To learn the bases of corporate financial modelling as well as to understand the links among financial concepts and different financial statements. | A1 A2 A3 A4 A5 A6 A9 A11 |
B3 B5 |
C5 C6 C7 C8 |
| to be able to elaborate, communicate and defend a corporate plan using different financial planning models and widespread software tools. | A1 A5 A6 A10 |
B4 B6 B8 |
C1 C4 C5 C7 C8 |
| Contents |
| Topic | Sub-topic |
| Chapter 1: Firm value creation and Value based Management | 1.1. Financial planning objective: Value creation 1.1.1 Value measurement: Discounted cash flows and some other metrics 1.1.2. Strategy and value creation 1.2. The planning process |
| Chapter 2: Pro-forma EBITDA Statement | 2.1. Introdution to Pro-forma EBITDA Statement 2.2.. Origin of earnings and results 2.3. Uses of EBITDA 2.3.1 Depreciation policy. 2.3.2 Dividend policy. 2.3.3 Internal Financing |
| Chapter 3: Working capital planning | 3.1. Introduction to Pro-forma Working Capital Net Need Statement 3.2. Working capital policies 3.2.1. Inventories 3.2.2. Accounts receivable (customers and short-term debtors) 3.2.3. Operating cash holdings 3.2.4. Short term financing |
| Chapter 4: The Capital Budget | 4.1. Capital budget: concept, uses and structure 4.2. The investment budget 4.3. The funding budget. Optimal Capital Structure. 4.4. Financial implications |
| Chapter 5: The Cash Budget | 5.1. Introduction 5.2. Structure and content. 5.3. Cash Policies |
| Chapter 6: General Analysis and Control of Financial Plan. | 6.1. General Analysis 6.2. Control of Financial plan 6.2.1. ex-ante control 6.2.2. ex-post control |
| Planning | ||||
| Methodologies / tests | Competencies | Ordinary class hours | Student’s personal work hours | Total hours |
| Guest lecture / keynote speech | A10 A11 B1 B2 B3 B4 B5 B6 B7 B9 B10 C1 C4 C5 C6 C7 C8 | 17 | 17 | 34 |
| Case study | A1 A2 A3 A4 A5 A6 A8 A9 A10 A11 B2 B3 B4 B6 B7 B8 B9 B10 C1 C5 C6 | 25 | 75 | 100 |
| ICT practicals | A1 A3 A4 A5 A8 A9 A11 B3 B4 B5 B7 B9 C5 | 4 | 4 | 8 |
| Mixed objective/subjective test | A1 A3 A4 A6 A8 A9 A10 A11 B1 B2 B3 C1 | 2 | 2 | 4 |
| Personalized attention | 4 | 0 | 4 | |
| (*)The information in the planning table is for guidance only and does not take into account the heterogeneity of the students. | ||||
| Methodologies |
| Methodologies | Description |
| Guest lecture / keynote speech | Theoretical contents will be presented in Guest lectures. Lecturers will focus on those issues which more difficulties to be understood. To support these classes, spreadsheet and presentations will be used. |
| Case study | A set of teaching cases will be given to our students. They will analyse, discuss or/and solve them individually or in groups. They must use the spreadsheet as basic calculation instrument. This methodology is part of continuous assessment. |
| ICT practicals | Development and implementation of analysis models using spreadsheets. 3 face- small group tutoring sessions of 80 minutes through M. Teams will be scheduled on dates to be agreed in the classroom. |
| Mixed objective/subjective test | This test takes place in the official evaluation period. This exam is made up of a set of different format questions in order to assest to what extent the learning aims are achieved. |
| Personalized attention |
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| Assessment | |||
| Methodologies | Competencies | Description | Qualification |
| Case study | A1 A2 A3 A4 A5 A6 A8 A9 A10 A11 B2 B3 B4 B6 B7 B8 B9 B10 C1 C5 C6 | Students will discuss and solve the cases which will be put forward by the lecturers throughout the term. Teaching will be structured in two cases. Coming from them, a certain number of minicases will be assessed . Continuous assessment system is to focus on case study. | 30 |
| Mixed objective/subjective test | A1 A3 A4 A6 A8 A9 A10 A11 B1 B2 B3 C1 | Students are to sit a mixed test in the official evaluation period. This exam is made up of a set of different format questions in order to assest to what extent the learning aims are achieved. | 70 |
| Assessment comments | |||
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A) EVALUATIONREGULATIONS: 1. Evaluationconditions: It isforbidden to access the exam room with any device that allows communicationwith the outside and/or storage of information. 2. Identification ofthe student: The student must prove his/her identity in accordance with the currentregulations. B) TYPES OFQUALIFICATION: 1. No-show grade: Corresponds to thestudent, when he/she only participates in evaluation activities that have aweighting of less than 20% on the final grade, regardless of the gradeachieved. 2. Students with recognition of part-timededication and academic dispensation of exemption from attendance: students with recognitionof part-time dedication will be evaluated following the conditions expressedfor full-time students (see section c and d). C) EVALUATIONOPPORTUNITIES: 1. First opportunity: the evaluationcriteria previously indicated in this section will be applied. 2. Second opportunity: as in the first opportunity, a mixed test will becarried out with a value of 70% of the evaluation. For the remaining 30%, thecontinuous evaluation grade may be maintained or students may choose to answeran essay question that will be developed after the exam. In the case ofsubmitting to the recovery of the continuous evaluation, its qualification,whatever it may be, will replace the one obtained in the first opportunity. 3. Early-call Opportunity: There are specificconditions for the early call opportunity (art. 19 Normas de Avaliación, Revisióne Reclamacións das Cualificacións dos Estudos de Grao e MestradoUniversitario). In this case, evaluation is carried out by a specific mixedexam, comprehensive of all contents and skills of the subject. This examaccounts for 100% of final mark. D) OTHER EVALUATIONOBSERVATIONS: Continuous evaluation: The continuousevaluation activities will be generally assessed when tasks are performedaccording to their schedule for the corresponding group. The final continuousevaluation grade will be figured out only including the three best marks out ofthe four quizzes/tests the student has got during the ordinary teaching period.Each quiz/test is worth one point. Additionally, taking part incomplementary scheduled activities (talks, seminars and so on) can add up to 0.5 points to the sum of the grades received in the final exam and Continuous evaluation. The maximum grade students can achieve is ten points. |
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| Sources of information |
| Basic |
Arnold, G. (2008). Corporate Financial Management. Prentice Hall, Harlow, 4th Ed.
Partal, A.; Moreno, F.; Cano, M.; Gómez, P. (2021). Dirección Financiera de la Empresa. Ediciones Pirámide, Madrid. (2ªEd)
Asch, D.; Kaye, G.R. (1989). Financial Planning. Modelling Methods and Techniques. Kogan Page, Londres
Berk, J.; DeMarzo, P. (2017). Finanzas Corporativas. Pearson
Morris, J.R.; Daley, J.P. (2009). Introduction to Financial Models for Management and Planning. Chapman & Hall/CRC Finance
Rodríguez, A.; Iturralde, T. (2008). Modelización Financiera Aplicada. Modelos de Planificación Financiera con Excel. Delta Publicaciones, Madrid.
Rodríguez, A. (2009). Planificación Financiera Aplicada. Tórculo Edicións, Santiago de Compostela.
Durbán, S.; Irimia, A.I.; Oliver, M.D.; Palacín, M.J. (2009). Planificación financiera en la práctica empresarial. Ediciones Pirámide, Madrid.
Brealey, R.; Myers, S.; Allen, F. (2010). Principios de Finanzas Corporativas. McGraw-Hill, 9ª Ed.
Fernández, P. (1999). Valoración de Empresas. Gestión 2000 |
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| Complementary |
Mascareñas, J. (2010). Finanzas para directivos. Pearson, Madrid.
Ruiz, R.J.; Gil, A.M. (2000). La Planificación Financiera de la Empresa. Instituto Superior de Técnicas y Prácticas Bancarias, Madrid
Rodríguez, A.; Barros, F. (2009). Planificación Financiera de Cooperativas. Modelos de Planificación Financiera de Cooperativas con Excel. Centro de Estudios Cooperativos (CECOOP), USC, Santiago de Compostela.
Cibrán, P.; Villanueva, M.; Fernández, M.T. (2008). Planificación Financiera. Teoría y Casos Prácticos. Tórculo Edicións, Santiago de Compostela
Boquist, J.; Milbourn, T.; Thakor, A. (2010). The Value Sphere. The Corporate Executives' handbook for creating and retaining Shareholder wealth. World Scientific, Singapore |
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| Recommendations | |||
| Subjects that it is recommended to have taken before | |||
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| Subjects that are recommended to be taken simultaneously |
| Subjects that continue the syllabus |
| Other comments | |
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1. The delivery of the documentary works that are made in this subject: a. It will be requested in virtual format and/or computer support b. It will realise through Moodle, in digital format without needing to print them 2. The importance of the ethical principles related to the values of sustainability in the personal and professional behaviours must be taken into account. 3. Work will be done to identify and modify prejudices and sexist attitudes and the environment will be influenced in order to modify them and promote values of respect and equality. 4. The full integration of students who for physical, sensory, psychic or sociocultural reasons experience difficulties to an adequate, egalitarian and profitable access to university life, will be facilitated. 5. Additional remarks: In a hybrid teaching method, in-person and online sessions will be blended according to the guidelines issued by the UDC. Using electronic devices (laptops, tablets, mobile phones and so on) will be permitted only for academic purposes. |