Corporate Finance: International Practices

Bachelor 2023/2024

Type: Elective course (International Program 'International Relations and Global Studies')

Area of studies: Public Policy and Social Sciences

Delivered by: Faculty of World Economy and International Affairs

Where: Faculty of World Economy and International Affairs

When: 4 year, 1, 2 module

Mode of studies: offline

Open to: students of one campus

Language: English

ECTS credits: 5

Contact hours: 32

Full Syllabus

Abstract

The Corporate finance course is an intermediary two-module course for four-year undergraduate students. It is focusing on corporate applications in the international environment. The course develops theoretical and practical frame works for understanding and analyzing major financial problems of modern firm in the market environment. The course is taught in English. Russian is used as supplementary language to explain basic concepts and introduce some Russian terminology. The first part of the course is devoted to principles of accounting. By the end of this part of a course, students are expected to be able to apply a set of accounting concepts to read annual financial report of a corporation and financial ratios to assess its financial position. The second part deals with principles of company valuation and covers the essentials of capital structure and methods of company valuation. It is focused on estimating and forecasting cash flow of a firm in order to calculate its market value.

Learning Objectives

1. To prepare and analyze companies’ financial statements and financial ratios for decision-making purposes and perform financial planning, applying various models
2. To conduct quantitative and qualitative research to find and analyze stock information
3. To perform valuation of a company through multiples and discounted cash flows models
4. To evaluate the optimal capital structure of a company and analyze its leverage
5. To make a justified investment decision applying project analysis and evaluation of multiple investment criteria

Expected Learning Outcomes

To develop skills in analyzing corporate behavior in capital markets and the relationship of agent, and principal of raising funds, allocating capital and distributing returns.
To broaden the scope in evaluating different management decisions and their influence on corporate performance and value.
To develop a strategic understanding of key financial decisions faced by organizations today by putting them into an international context.

Course Contents

Basic Accounting Equation and Balance Sheet
Profit and Loss statement
Cash Flow Statement and the link between 3 statements
Company Valuation Approaches
Capital Structure Choice
DCF Model: Cash Flows
DCF Model: Discount rate
DCF Model: Construction

Assessment Elements

Class work during lectures and classes
Home assignment
Team project
Final exam

Interim Assessment

2023/2024 2nd module
0.08 * Class work during lectures and classes + 0.07 * Class work during lectures and classes + 0.3 * Final exam + 0.07 * Home assignment + 0.08 * Home assignment + 0.4 * Team project

Bibliography

Recommended Core Bibliography

Accounting : understanding and practice, Leiwy, D., 2013
Financial markets and corporate strategy, Hillier, D., 2012
Principles of corporate finance, Brealey, R. A., 2008
Satran, R. (2013). Breaking Into Wall Street. U.S. News Digital Weekly, 5(17), 8.

Recommended Additional Bibliography

Cost accounting : a managerial emphasis, Horngren, C. T., 2015

Course Syllabus