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.

Specific topics to be covered include: financial mathematics, security valuation, techniques for capital investment decisions, financial decision making, corporate capital structure, cost of capital, dividend decision and policy, leasing decision and the analysis of mergers and acquisitions.

Learning Outcomes

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

1. Explain in detail the key issues facing financial managers;
2. Perform complex asset valuation and project evaluation; and,
3. Critically evaluate and explain the finance theory underlying financial management.

Additional Course Costs

--Calculators: A good portion of the course is computationally intensive, and, therefore, students will need to bring a scientific calculator to class. Programmable and graphical calculators are not allowed. Financial calculators are not permitted either. Sharing calculators or using other devices will not be allowed during quizzes and exams, so each student will need to bring his/her own calculator to class.

--Quizzes 1 and 2 are administered online via canvas and taken remotely on a computer. These quizzes will employ the security features of Proctorio and will require the use of a computer with a webcam, which will monitor the student's testing environment to ensure academic integrity. It is the responsibility of the student to ensure that they make proper arrangements for taking online quizzes prior to quiz dates.

Examination Material or equipment

Students will need a scientifc calculator.

Required Resources

Lecture Notes

Lecture notes and other supplemental material will be posted on Canvas.

Recommended Resources

Textbook:

Brealey, R., S. Myers and F. Allen, Principles of Corporate Finance, 14th edition, Irwin McGraw-Hill. Earlier editions are fine as well. E-book copy of the textbook is available at the ANU library. A small number of hard copies are also available for a 2-hour loan at the library.

Staff Feedback

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

·    through interactions with tutors during tutorials or consultations;

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

·     through interactions with the lecturer during lecture or consultations.

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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Other Information

Canvas Discussion Board:

All questions related to the material should be asked on the discussion board (Canvas Course Discussion). The reason for this is to make sure that your classmates have the benefit of your questions and answers to those questions. You will need to read the discussion board daily to see if your question has already been answered. Questions on the discussion board will be monitored regularly and answered publicly on the board.

 

Tutorial Sessions:

I will be posting several problem sets on canvas and these will be discussed during tutorial sessions. While problem sets are not graded, students are expected to participate in tutorials and work through each set diligently. Problem sets are designed to reinforce course concepts and promote deeper understanding. Students who do not learn to solve these problems may find it difficult to perform well on quizzes and exams. Answer keys will be available on canvas after tutorial sessions.

Scaling

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).

**** The course convener reserves the right to modify this summary as needed throughout the course. ****

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Syllabus, Corporations and Governance, Tools of Valuation in Finance(Chapters 1, 14, 2)	No tutorial
2	Bonds, Term Structure of Interest Rates(Chapter 3)	Tutorials commence
3	Valuation of Common Stocks and Businesses(Chapter 4)
4	Capital Budgeting I: Investment Criteria(Chapter 5)	Quiz 1 Review in Tutorial
5	Capital Budgeting II: Project Evaluation(Chapter 6)	Quiz 1(Taken remotely, Material covered: since the beginning)
6	Risk and Return, Modern Portfolio Theory(Chapter 7, 8)	Quiz 1 feedback
7	CAPM: Theory and Applications(Chapter 8)
8	Cost of Capital(Chapter 9)	Quiz 2 Review in Tutorial
9	Financing New Ventures	Quiz 2(Taken remotely, Material covered: since Quiz 1)
10	Capital Structure: M&M and other theories(Chapters 17, 18)	Quiz 2 feedback
11	Payout Policy(Chapter 15)
12	Mergers and Acquisitions, Finals Review(Chapter 32, 33)

Tutorial Registration

Tutorials commence on week 2 of the semester and will be available in-person on campus. Information regarding enrollment for these options will be provided on Canvas no later than week one of the semester.

ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities/tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Quiz 1	15 %	22/08/2025	23/08/2025	1, 2, 3
Quiz 2	15 %	03/10/2025	04/10/2025	1, 2, 3
Final Exam	70 %	30/10/2025	03/12/2025	1, 2, 3

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

Policies

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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Extenuating Circumstances Application
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

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 Academic Skills 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 ‘Canvas’ 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.

Participation

Course content delivery will take the form of weekly lectures which will be in-person on campus. Lectures will be recorded and made available on canvas. Weekly tutorials will be delivered in-person on campus. Tutorials will not be recorded.

Students are expected to attend all classes unless they are prevented from attending by exceptional circumstances (e.g. medical and family emergencies). Students who do not attend classes may find it difficult to perform well on this course. Students who find it necessary to miss class are responsible for obtaining their own notes on material covered in lectures or tutorial sessions.

 

Examination(s)

Centrally scheduled examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information.

Assessment Task 1

Quiz 1

Weight: 15%

Duration: 75 minutes

Format: Online, remote

Topics covered: All material since the beginning of the semester

Details:

--Quizzes will be closed books/notes and the use of unauthorized electronic devices (e.g., phone or any other mobile devices) during quizzes will be considered a violation of ANU’s academic integrity policy.

--Taking pictures/copying questions of quizzes is strictly prohibited.

--Students will be allowed to bring a non-programmable scientific calculator and one 4x6 inch notecard with formulas to each quiz. Students can also bring blank scratch papers to work on the quizzes.

--The use of dictionaries will not be permitted.

--Quizzes will be administered online via canvas and taken remotely on a computer. They will be available for students to take between 1 and 6 pm on the scheduled quiz dates. Students will have 75 minutes to complete the quiz and the timer will start once the student opens the quiz. Please make sure you allow yourself enough time to complete the quiz before it becomes unavailable at 6 pm. Once the quiz becomes unavailable on canvas, the student will no longer be able to complete the quiz even if the timer has not stopped.

--Quizzes will consist of a mix of conceptual and quantitative questions. Details on the format of the quizzes will be discussed during lecture and tutorials.

--There will be no make-up quizzes.

--Both quizzes are redeemable, which means that if a student misses Quiz I worth 15% of the final grade, the final exam will now account for 85% of the final grade.

--Online quizzes will employ the security features of Proctorio and will require the use of a computer with a webcam, which will monitor and record the student's testing environment to ensure academic integrity. It is the responsibility of the student to ensure that they make proper arrangements for taking online quizzes and familiarize themselves with the technology prior to quiz dates in order to avoid technical issues during the actual quiz. If there are genuine technical issues during the quiz and if a make-up quiz is deemed appropriate, there is no guarantee that the make-up quiz will have the same difficulty and the same type of questions as the common quiz. Instructions for taking online quizzes using Proctorio will be provided prior to Quiz 1.

--Not having the webcam on during the quiz will be considered a violation of ANU’s academic integrity policy. Any quiz taken without the webcam turned on will receive a score of 0 and this quiz will not be redeemable.

--Quiz feedback: Quizzes will not be returned, however students will have the opportunity to receive feedback on quizzes during tutorials and consultations.

 

Assessment Task 2

Quiz 2

Weight: 15%

Duration: 75 minutes

Format: Online, remote

Topics covered: All material since Quiz 1

Details: Please see the details outlined for Quiz 1.

Assessment Task 3

Final Exam

Weight: 70% (up to a maximum of100% depending on whether one or both quizzes are redeemed)

Duration: 2 hours

Time: Examination period

Topics covered: Cumulative

Format: Paper, in-person (check ANU Timetabling)

Details:

--Final exam will be closed books/notes and the use of unauthorized electronic devices (e.g., phone or any other mobile devices) during the exam will be considered a violation of ANU’s academic integrity policy.

--Taking pictures/copying questions of quizzes is strictly prohibited.

--Students will be allowed to bring a non-programmable scientific calculator and two 4x6 inch notecards with formulas to each quiz.

--The use of dictionaries will not be permitted.

--The final exam will consist of a mix of conceptual and quantitative questions. Details on the format of the exam will be discussed during lecture and tutorials.

--There will be no make-up final exam.

--Please note that while quizzes are taken online remotely, the final exam will be a paper exam taken in-person at a location determined by the University.

--Final exam will not be returned.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

Quizzes 1 and 2 are to be submitted online via canvas. Please see the details under Quiz 1.

Hardcopy Submission

There are no hardcopy submissions for this course.

Late Submission

Late submissions are not accepted. This policy applies to any deliverables from a student. Any late submission will recieve a score of 0.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material. Any use of artificial intelligence must be properly referenced. Failure to properly cite use of Generative AI will be considered a breach of academic integrity.

Returning Assignments

N/A

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted 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.

Resubmission of Assignments

N/A

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).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Accessibility for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students