• Class Number 7423
  • Term Code 2960
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Dr Le Zhang
    • Dr Le Zhang
  • Class Dates
  • Class Start Date 22/07/2019
  • Class End Date 25/10/2019
  • Census Date 31/08/2019
  • Last Date to Enrol 29/07/2019
SELT Survey Results

This course focuses on tools and techniques used in modern financial management. Material in the course has an applied focus and is designed to provide students with the knowledge and skills required for understanding, exploring and analysing financial management issues. The course draws upon topical material in order to contextualise theoretical discussion, and present students with examples in practice.

Detailed syllabus topics: Financial maths applications, Risk, Capital budgeting, Cost of capital, Asset pricing, Valuation, Leverage, Capital raising, Financing tools and Financial Derivatives.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

  1. Attain basic knowledge of some of the key issues facing financial managers;
  2. Develop proficiency in the areas of asset valuation and project evaluation and;
  3. Deepen their understanding of the finance theory underlying financial management.

Research-Led Teaching

Students undertaking this course will be imparted with the necessary skills for industry based research. This will include involving students in critical analysis of industry based problems such as valuation, capital budgeting and risk assessment.

Additional Course Costs

The course may involve the use of a PC or Mac computer. You need to be familiar with MS Office Suite. These facilities are available at ANU Computer labs free of charge.

Examination Material or equipment

A non-programmable scientific calculator is a necessity for every enrolled student in this course.

Required Resources

Prescribed textbook

  • “Corporate Finance”, 4th Edition, by Berk and DeMarzo, ISBN: 9781292160160. This book is available in Chifley library on both 2 hour and 2 day loan. As this book has been used for several semesters in the past, new or used copies may be avaivable for sale on campus, and have been requested for sale at the campus bookstore.

Staff Feedback

Students will be given feedback in the following forms in this course:

·     in tutorials through interactions with tutors and discussions with other students;

·     through assessments where the lecturer and tutors will provide specific feedback;

·     through consulting teaching staff during their consultation time.

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session Summary of Activities Assessment
1 Introduction and revision of assumed knowledge No tutorial/ workshop
2 Investment decision rules
3 Capital budgeting: Fundamentals
4 Equity and debt financing Quiz 1
5 Cost of capital
6 Capital Structure I: MM Theory and Taxes No workshop Quiz 2
7 Capital Structure II: Financial Distress and Agency Cost Mid semester exam
8 Capital Structure III: Trade-off Theory, Information, and Application Quiz 3
9 Payout Policy
10 Capital Budgeting: Extensions Quiz 4
11 M&A; Corporate Governance
12 Revision No workshop

Tutorial Registration

Please see Wattle for tutors’ information.

Tutorial signup for this course will be done via the Wattle website. Detailed information about signup times will be provided on Wattle or during your first lecture. When tutorials are available for enrolment, follow these steps:

1.   Log on to Wattle, and go to the course site

2.   Click on the link “Tutorial enrolment”

3.   On the right of the screen, click on the tab “Become Member of…..” for the tutorial class you wish to enter

4.   Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group….” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
In-tutorial Quizzes 20 % 12/08/2019 23/08/2019 1,2,3
Mid-semester Exam 30 % 26/08/2019 16/09/2019 1,2,3
Final Examination 50 % 31/10/2019 28/11/2019 1,2,3

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details


ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.



Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, scaling may apply. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed or be the same as the scaled mark of that student), and may be either up or down.

Assessment Task 1

Value: 20 %
Due Date: 12/08/2019
Return of Assessment: 23/08/2019
Learning Outcomes: 1,2,3

In-tutorial Quizzes

Weight: 20% in total

Duration: 15 minutes each

Time: Weeks 4,6,8,10 (Note that 2019-08-12 is the earliest possible date of the Week 4 quiz).

Below are the topics covered:

Quiz 1 on Lectures 2 – 3

Quiz 2 on Lectures 4 – 5 

Quiz 3 on Lectures 6 – 7

Quiz 4 on Lectures 8 – 9

Students MUST go to their enrolled tutorials in the quiz weeks, or the quiz will not be counted.

Four in-tutorial quizzes are counted towards the final grade and all quizzes are of equal value (5%). Quizzes will be closed book and held at the end of the tutorial (see course schedule). Quizzes are in the form of short answer questions and you must show all workings. Make sure you will bring in your calculator for each quiz. The marking criteria will be based on model solutions and answers prepared by the lecturer and will be made available to students after the last quiz of the week. No alternative arrangement will be made if a student misses a quiz, unless the student applies to sit in an alternative tutorial beforehand. To apply to sit in alternative tutorials, the student must have solid reasons such as clashes with other exams or illness with appropriate medical evidence. Otherwise, the student will be awarded zero for that quiz.


Assessment Task 2

Value: 30 %
Due Date: 26/08/2019
Return of Assessment: 16/09/2019
Learning Outcomes: 1,2,3

Mid-semester Exam

Weight: 30% or 0%

Duration: 1.5 hour

Time: Week 6 or Week 7


The mid-term exam is optional and redeemable. Specifically, if a student takes the mid-term exam, and performs better in the final exam, then the final grade for the student will be 80% of the final exam mark plus 20% of the quiz mark. Otherwise, the final grade for the student will count 50% of the final exam mark, 30% of the mid-term exam mark, and 20% of the quiz mark.

The exam is a closed-book exam with no formula sheet provided and will cover topics from week 1 to week 5. More details about the exam will be provided as the exam approaches.

Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information. Exam scripts will not be returned.

Assessment Task 3

Value: 50 %
Due Date: 31/10/2019
Return of Assessment: 28/11/2019
Learning Outcomes: 1,2,3

Final Examination

Weight: 50% or 80%

Duration: 3 hours

Time: Examination period


This is a closed-book exam and no formula sheet is allowed. The final exam is worth 50% (or 80% if the mid-term exam is not attempted/redeemed). A mixture of theoretical and practical (numerical) questions will be included. All topics covered in this course will be examined. Students will be provided with more details regarding the exam as it approaches.

Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information. Exam scripts will not be returned.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

Dr Le Zhang
+61 2 612 57300

Research Interests

Corporate Finance and Banking

Dr Le Zhang

Monday 10:30 11:30
Monday 10:30 11:30
Dr Le Zhang

Research Interests

Dr Le Zhang

Monday 10:30 11:30
Monday 10:30 11:30

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions