Financial Management

Study Course Description

Course Description Statuss:Approved

Course Description Version:6.00

Study Course Accepted:02.02.2024 12:29:43

Study Course Information
Course Code:		JF_468		LQF level:		Level 7
Credit Points:		4.00		ECTS:		6.00
Branch of Science:		Law		Target Audience:		Law; Marketing and Advertising; Management Science
Study Course Supervisor
Course Supervisor:		Aina Čaplinska
Study Course Implementer
Structural Unit:		Faculty of Social Sciences
The Head of Structural Unit:
Contacts:		Dzirciema street 16, Rīga, szfrsu[pnkts]lv
Study Course Planning
Full-Time - Semester No.1
Lectures (count)		12	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		24
Classes (count)		12	Class Length (academic hours)		2	Total Contact Hours of Classes		24
Total Contact Hours								48
Part-Time - Semester No.1
Lectures (count)		6	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		12
Classes (count)		4	Class Length (academic hours)		2	Total Contact Hours of Classes		8
Total Contact Hours								20
Study course description
Preliminary Knowledge:
Technical and fundamental analysis of the data; Basic accounting; Financial analysis of the company.
Objective:
The aim of the study course is to provide structured knowledge of the concepts and methods of financial management, the use of theoretical knowledge in practical work, forecasting and planning the financial activity of a company. The task of the course is to analyse financial theories and opinions on key financial categories, as well as how they can be used in financial policy-making. Students get an idea of financial management problems in Latvia, learn the methods of analysis of the financial market. They improve their knowledge of company financial management. The focus is on the use of theoretical knowledge in practical work. Upon completion of the course, students will be able to manage the finances of the company by applying modern financial management methods and techniques; obtain the necessary information from financial statements, assess the financial situation and development prospects of the company, make sound investment decisions, forecast and plan the financial activity of the company.
Topic Layout (Full-Time)
No.	Topic			Type of Implementation		Number	Venue
1	The nature and need of the company's financial analysis. Introduction to financial management. The concept and nature of financial management.			Lectures		0.50	auditorium
2	Strategic and operational-tactical financial management.			Lectures		1.00	auditorium
3	Financial statement as a source of financial analysis. Financial statements as a basis of information for financial management. Methods and techniques to be applied in financial analysis.			Lectures		1.00	auditorium
4	Elements of the company's internal and external sources of financing, their characteristics.			Lectures		0.50	auditorium
5	Horizontal and vertical analysis of financial statements. Financial indicators and their calculation methodology.			Lectures		0.50	auditorium
				Classes		0.50	auditorium
6	The role of finances in the company. Movement of capital within the company. Evaluation and analysis of the company's capital.			Lectures		0.50	auditorium
				Classes		0.25	auditorium
7	Evaluation and management of financial assets.			Lectures		0.50	auditorium
				Classes		0.25	auditorium
8	Management of current assets. Analysis of the business activity of the company and calculations of the turnover indicators.			Lectures		1.00	auditorium
				Classes		1.50	auditorium
9	Nature, types and rules of financing. Sources of funding and their management.			Classes		2.00	auditorium
10	Internal financing. Funding of participation. Leasing.			Lectures		1.00	auditorium
				Classes		0.50	auditorium
11	Financial stability and its management.			Classes		1.00	auditorium
12	Company liquidity and liquidity analysis.			Lectures		0.50	auditorium
				Classes		0.50	auditorium
13	Optimisation and management of liquidity and profitability.			Lectures		0.50	auditorium
				Classes		0.50	auditorium
14	Financial risk management and financial leverage.			Lectures		1.00	auditorium
				Classes		0.50	auditorium
15	Analysis and evaluation of the results of corporate financial performance.			Classes		0.50	auditorium
16	Financial planning and forecasting.			Lectures		1.50	auditorium
				Classes		1.50	auditorium
17	Cost of capital. Corporate capital structure.			Lectures		1.00	auditorium
				Classes		1.00	auditorium
18	Household finances and characteristics of their management. Sound personal financial management.			Lectures		1.00	auditorium
				Classes		0.50	auditorium
19	Personal finance management apps.			Classes		1.00	auditorium
Topic Layout (Part-Time)
No.	Topic			Type of Implementation		Number	Venue
1	The nature and need of the company's financial analysis. Introduction to financial management. The concept and nature of financial management.			Lectures		0.10	auditorium
2	Strategic and operational-tactical financial management.			Lectures		0.10	auditorium
3	Financial statement as a source of financial analysis. Financial statements as a basis of information for financial management. Methods and techniques to be applied in financial analysis.			Lectures		0.10	auditorium
4	Elements of the company's internal and external sources of financing, their characteristics.			Lectures		0.20	auditorium
5	Horizontal and vertical analysis of financial statements. Financial indicators and their calculation methodology.			Lectures		0.10	auditorium
6	The role of finances in the company. Movement of capital within the company. Evaluation and analysis of the company's capital.			Lectures		0.10	auditorium
				Classes		0.10	auditorium
7	Evaluation and management of financial assets.			Lectures		0.25	auditorium
				Classes		0.10	auditorium
8	Management of current assets. Analysis of the business activity of the company and calculations of the turnover indicators.			Lectures		1.00	auditorium
				Classes		1.00	auditorium
9	Nature, types and rules of financing. Sources of funding and their management.			Lectures		1.00	auditorium
				Classes		0.50	auditorium
10	Internal financing. Funding of participation. Leasing.			Classes		0.75	auditorium
11	Financial stability and its management.			Lectures		0.50	auditorium
				Classes		0.50	auditorium
12	Company liquidity and liquidity analysis.			Classes		0.10	auditorium
13	Optimisation and management of liquidity and profitability.			Lectures		0.70	auditorium
				Classes		0.50	auditorium
14	Financial risk management and financial leverage.			Lectures		1.00	auditorium
15	Analysis and evaluation of the results of corporate financial performance.			Classes		0.10	auditorium
16	Financial planning and forecasting.			Classes		0.15	auditorium
17	Cost of capital. Corporate capital structure.			Lectures		0.50	auditorium
				Classes		0.10	auditorium
18	Household finances and characteristics of their management. Sound personal financial management.			Lectures		0.25	auditorium
				Classes		0.10	auditorium
19	Personal finance management apps.			Lectures		0.10	auditorium
Assessment
Unaided Work:
Development of critical thinking by assessing different problem situations and modelling their solutions. Preparation for seminars, practical work, examination, presentation and defence, development and defence of the teamwork. Studies of required and additional sources of information, current research.
Assessment Criteria:
The assessment for the study course is made by summing up: 1) attendance of lectures (10%), 2) interim examination - completion of independent work (20%), 3) work in seminars (20%), 4) completion of practical work assignments (20%), 5) end-of-course oral examination (30%). Mastering of the study course is assessed on a 10-point grading scale in accordance with the laws and regulations of the Republic of Latvia and the Senate decision of 17.12.2018, minutes No.15, based on the following criteria: the extent and quality of the acquired knowledge; the acquired skills; the acquired competence in compliance with the intended learning outcomes. Total score must not be below 4 points.
Final Examination (Full-Time):		Exam (Written)
Final Examination (Part-Time):		Exam (Written)
Learning Outcomes
Knowledge:		Upon completion of the study course, students will know the elements of the company's internal and external sources of finance, as well as the methodology for calculating financial indicators and ratios. They will explain the role of finances in a company and understand the movement of capital, possibilities of internal financing, financial ratios and other indicators needed for carrying out the analysis of factors affecting profit and profitability and for assessing the cost of capital and evaluation of investment projects.
Skills:		Analyse factors affecting profit and profitability, find possible solutions and development alternatives in the process of establishing financial policy. Critically evaluate the required knowledge for planning the operation of the company and determining the best way of financing the company, taking into account the impact of international factors, as well as analysing and preventing potential business risks. Able to calculate the company's financial indicators and evaluate the financial situation of the company according to calculated indicators. Analyse factors that influence the financial situation of the company; able to prepare financial information according to the needs of target audiences.
Competencies:		Forecast future financial management processes reasonably and their impact on the specific financial management policy; express an economically responsible and sound position in addressing financial management problems. Able to calculate the necessary indicators for taking financial decisions using the financial information available in the company. Provide practical recommendations on how to organise financial management based on increasing the value and efficiency of the company, regardless of the size of the company, number of employees or direction of activity.
Bibliography
No.	Reference
Required Reading
1	Dūdele, A., Korsaka, T. Finanšu vadības pamati. Rīga, 2001. 104 lpp. (akceptējams izdevums)
2	Rurāne, M. Finanšu pārvaldība un analīze. Rīga: Avots, 2019. 258 lpp.
3	Saksonova, S. Uzņēmuma finanšu vadības praktiskās metodes. Rīga: Merkūrijs, 2006. 225 lpp. (akceptējams izdevums)
4	Zachary Bell Essentials of Financial Risk Management. Murphy & Moore Publishing, 2022, 234 pages
5	Whiteley John Mastering Financial Management. New York: Palgrave Macmillan, 2017, 240 pages
6	Jake Collins. Fundamentals of Financial Management. Murphy & Moore Publishing. 2022, 241 pages
7	Brooks Raimond. Financial Management. Pearson Education Limited, 2022, 656 pages
8	Madura, Jeff. International financial management / Jeff Madura, Roland Fox. - 2nd ed. - Cincinnati [etc.]: South-Western College Publishing, 2011. 680 p. (akcpetējams izdevums)
9	Jonathan Berk, Peter DeMarzo. Corporate Finance: The Core. Global Edition, 4th ed., 2017.,1152 pages
10	Dorfman, Mark S. Introduction to Risk Management and Insurance. PrenticeHall, 2008., 567 pages (akceptējams izdevums)
11	Daisy Scott Finance: Markets, Investments and Financial Management. Academic press, 2022, 247 pages
12	Brealey, Myers Allen. Principles of Corporate Finance. ASV, McGraw-Hill, 2014.
13	Ārvalstu studentiem/For international students
14	Daisy Scott Finance: Markets, Investments and Financial Management. Academic press, 2022, 247 pages
15	Jake Collins. Fundamentals of Financial Management. Murphy & Moore Publishing. 2022, 241 pages
16	Zachary Bell Essentials of Financial Risk Management. Murphy & Moore Publishing, 2022, 234 pages
17	Whiteley John Mastering Financial Management. New York: Palgrave Macmillan, 2017, 240 pages
18	Dorfman, Mark S. Introduction to Risk Management and Insurance. PrenticeHall, 2008., 567 pages (akceptējams izdevums)
19	Madura, Jeff. International financial management / Jeff Madura, Roland Fox. - 2nd ed. - Cincinnati [etc.]: South-Western College Publishing, 2011. 680 p. (akcpetējams izdevums)
Additional Reading
1	Apsīte I. Uzņēmuma gada pārskats. Rīga Lietišķās informācijas dienests, 2010., 279 lpp.
2	Rurāne M. Uzņēmuma finanses. Rīga: Jumava, 2007., 266 lpp.
3	Krogzeme H. Finanses un nodokļi. Rīga: RTU izdevniecība, 2010. 568 lpp.
4	Kālis I. Finanšu menedžments. Rīga: Latvijas Universitāte, 2004., 84.-95. lpp.
5	Kutuzova O. Finanses un kredīts. Rīga: Biznesa augstskola Turība, 2003., 224 lpp.
6	Rurāne M. Finanšu menedžments. Rīga: Rīgas Starptautiskā ekonomikas un biznesa administrācijas augstskola RSEBAA, 2006., 383 lpp.
7	Pettere G., Voronova I. Riski uzņēmējdarbībā un to vadība. Rīga: Banku augstskola, Rasa ABC, 2004.,175 lpp.
8	Šneidere R. Finanšu analīzes metodes uzņēmuma maksātnespējas prognozēšanai. Rīga: Lietišķās informācijas dienests, 2009., 232 lpp.
9	Zariņa V., Strēle I. Finanšu plānošana uzņēmumā. Rīga: Lietišķās informācijas dienests, 2009.,105 lpp.
10	Rejda, George E. Principlesof Risk Managementand Insurance. Addison Wesley, 2008., 721 pages
11	Pandey, IM: Financial Management – 4th ed. – London: Palgrave Macmillan, 2009, 816 pages
12	Бочаров, B. B. Комплексныйфинансовыйанализ. Санкт-Петербург, 2017.
13	Ārvalstu studentiem/For international students
14	Brigham, Houston. Joel F. Houston Fundamentals of Financial Management, Concise Edition, 2019., 866 pages
15	Constantin Zopounidis, Ramzi Benkraiem, Iordanis Kalaitzoglou Financial Risk Management and Modeling Springer Nature. Switzerland AG, 2021., 480 pages
16	Eugene F. Brigham, Joel F. Houston Fundamentals of Financial Management (15th ed.). Cengage, 2019, 866 pages
17	Jeff Madura, Roland Fox. International financial management. 2nd ed. South-Western College Publishing, 2011. 680 p.
Other Information Sources
1	Laikraksti: "Dienas Bizness”, "Diena”, Financial Times: laikraksts [tiešsaiste]. England based finance newspaper. London: The Financial Times Ltd.
2	Žurnāli: "Kapitāls”, "Forbes", "Ir nauda" "Biznesa partneri”, "Latvijas ekonomists”, "The Economist”, "The World Economy”, "Economic Journal”.
3	LR Ekonomikas ministrijas mājas lapa
4	Latvijas Investīciju un attīstības aģentūras mājas lapa
5	LR Finanšu ministrijas mājas lapa
6	FinanceNet
7	Financial Times: England based finance newspaper. London: The Financial Times Ltd.
8	Global finance
9	International Review of Financial Analysis
10	Ārvalstu studentiem/For international students
11	Financial Times: England based finance newspaper. London: The Financial Times Ltd.
12	Global finance