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Financial Management BACC3701


Financial Management BACC3701

The Financial Management BACC3701 course aims to identify and analyse the financial decisions made by financial managers. The primary focus of this course is to develop an understanding of the theory of finance to permit the evaluation of the firm’s financial decisions.

Financial Management BACC3701 helps students to develop the skills which are used in the decision-making process. It is also considered the forecasting of financial needs including capital markets, financial institutions, and instruments.
Learning Outcomes
An observable description of the subject learning outcomes is demonstrated below:
a) Develop knowledge and understanding of the finance function.
b) Understand the finance and treasury function in an organisation and be familiar with the financial characteristics that underpin various financial policies
c) Classify and learn how to apply financial mathematics to examine and evaluate the investment, financing, and dividend decisions made by firms
d) Differentiate the features of specific forms of domestic and international business finance and recognize the circumstances when each is appropriate
e) Evaluate the recent developments in the field of finance

What is Financial Management?

Financial Management means planning, organising, and controlling financial undertakings in an organisation. It is the operational and financing activity of a business that is responsible for obtaining and utilising the funds necessary for effective operation.

If you want to run a successful business you should have an excellent knowledge of financial management being an important aspect of the business.

Why is Financial Management Important?

Financial management helps an organisation in improving its profitability, acquisition of funds at minimum cost, and providing economic stability. It helps in creating a pathway to accomplish the goals and objectives of the organisation. It focuses on increasing the wealth of investors and increasing the overall value of an organisation.

Principles of Financial Management

Arrangement of your funds
Every account no matter whether it is house loans, car loans, or retirement accounts. They should be tracked periodically. Budgeting software is the one solution for tracking all the expenses that will help you to start the entry of all your bank accounts into the budgeting software.
Understand Risk
You should understand the “trade-off risk and return” which means the return on investments. The “more you risk the better the return”. The higher rate of return has a high risk of losing principal, on the other hand, the lower rate of return has a lower risk of losing principal.
Time Value of Money
This principle is based on the value of money. The value of money is decreased if you receive it after some time. Alternatively, the money will be more valuable if you receive it at the current time. There is a possibility of becoming financially looser so before taking funds, we have to think about the rate of the economy.
Profitability and Liquidity
The principle of profitability and liquidity is important from the speculator’s perspective because a financial specialist needs to ensure both profitability and liquidity. Liquidity shows the attractiveness of the speculation and investors have to invest in a way that can maximise the profit with a lower level of risk.

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Required Question:
Question 1
a) In Finance, the focus is more on wealth maximisation of the shareholder, though profit maximisation is considered as a part of the wealth maximisation objective. Discuss.
b) Define “the stand-alone principle” applied in evaluating projects and discuss the types of cash flows in project evolution.
Question 2
Active PLC is a leading investment company in Australia and you the below details relating to the capital structure of the company.

a) Calculate the cost associated with each new source of finance. The firm has retained earnings available
b) Calculate the WACC given the existing weights

Percentage of Sales Approach – Assume all spontaneous variables move as a percentage of sales.
a) Given an expected increase in sales of 12%, what is the amount of external funding required?
b) To maintain the current debt/equity ratio how much debt and how much equity is required?
c) Assuming the company is only operating at 95% capacity, how much new funding (if any) is required?

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