Apr 20, 2024  
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College Catalog 2021-2022 [ARCHIVED CATALOG]

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FINC 1010 - Introduction to Finance

Credit Hours: 3.00

Prerequisites: ACCT 1080  

(formerly CRFN 1030)

FINC 1010 introduces students to the various financial markets fundamental concepts of finance and is intended for business majors with an interest in the field of finance. Emphasis is on exploring the function and operation of the Federal Reserve System, interest rates, the characteristics of different financial markets/institutions, and financial risk management. Students learn how these topics relate to financial management in the business environment. This course will provide an overview of the financial management function and how it relates to the business environment. Topics to which students will be introduced to an introductory level include: Time Value of Money, Financial Statement Analysis, Financial Instruments and Capital Budgeting. Students will be introduced to a financial calculator in this course.

Billable Contact Hours: 3

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OUTCOMES AND OBJECTIVES
Outcome 1: Upon completion of this course, students will be able to explain the goals and functions of financial management.

Objectives:

  1. Define the field of finance.
  2. Distinguish between the various forms of business organizations.
  3. Discuss the role of corporate governance, social responsibility, and ethical behavior.
  4. Explain the role of financial markets and identify the various classifications.

Outcome 2: Upon completion of the course, students will be able to explain the importance of time value of money concepts.

Objectives:

  1. Apply the time value of money concepts when calculating the present value and future value of lump sums.
  2. Identify the different types of annuities.
  3. Apply the time value of money concepts when calculating the present value and future value of both an ordinary annuity and annuity due.
  4. Explain the difference between normal, periodic and effective interest rates.
  5. Apply the basic functions of a financial calculator.

Outcome 3: Upon completion of the course, students will be able to perform basic financial statement analysis.

Objectives:

  1. Identify the basic financial statements and identify the kinds of information that they provide to corporate managers and investors.
  2. Explain what ratio analysis is.
  3. Calculate ratios from five major categories.
  4. Analyze ratios from five major categories.
  5. Perform basic trend analysis over a period of time.
  6. Compare a firm’s ratios with those of other firms (benchmarking).

Outcome 4: Upon completion of the course, students will be able to explain basic capital budgeting techniques.

Objectives:

  1. Define capital budgeting.
  2. Define the cost of capital.
  3. Calculate payback period, internal rate of return and net present value.
  4. Identify the pros and cons of using each capital budgeting method introduced.
  5. Explain why the weighted average cost of capital (WACC) is used in capital budgeting.

Outcome 5: Upon completion of the course, students will be able to explain the basics behind financial instruments and risk.

Objectives:

  1. Identify factors that influence the cost of money
  2. Describe what CAPM is
  3. Identify the factors that go into how interest rates are determined.
  4. Discuss how bond and stock prices are determined in the market.
  5. Differentiate between stocks and bonds.
  6. Compare and contrast the basic rights of a stockholder and bondholder.
COMMON DEGREE OUTCOMES (CDO)
• Communication: The graduate can communicate effectively for the intended purpose and audience.
• Critical Thinking: The graduate can make informed decisions after analyzing information or evidence related to the issue.
• Global Literacy: The graduate can analyze human behavior or experiences through cultural, social, political, or economic perspectives.
• Information Literacy: The graduate can responsibly use information gathered from a variety of formats in order to complete a task.
• Quantitative Reasoning: The graduate can apply quantitative methods or evidence to solve problems or make judgments.
• Scientific Literacy: The graduate can produce or interpret scientific information presented in a variety of formats.

CDO marked YES apply to this course:
Communication: YES
Critical Thinking: YES
Information Literacy: YES
Quantitative Reasoning: YES
COURSE CONTENT OUTLINE
 

  1. Introduction to Financial Management
    1. An Overview of Financial Management
    2. Financial Markets and Institutions
  2. Fundamental Concepts in Financial Management
    1. Financial Statements, Cash Flow and Taxes
    2. Analysis of Financial Statements
    3. Time Value of Money
  3. Financial Assets
    1. Interest Rates
    2. Bonds and Their Valuation
    3. Risk and Rates of Return
    4. Stocks and Their Valuation
  4. Investing in Long‐Term Assets: Capital Budgeting
    1. The Cost of Capital
    2. The Basics of Capital Budgeting
Primary Faculty
Newman, Brian
Secondary Faculty
Jex, Fred
Associate Dean
Johnson, Elise
Dean
Balsamo, Michael

Official Course Syllabus - Macomb Community College, 14500 E 12 Mile Road, Warren, MI 48088


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