Czech

5

Not applicable.

After completion of the course, student is able:
- to define company tasks and goals according to business life cycle;
- to decide on suitability of stock issues for business financing;
- to communicate with company investors, including venture capital funds;
- to decide, whether to own or to lease assets;
- to characterize content of business plan and methods of its creating, as well as to create financial sub-plans;
- to quantify optimal level of net working capital;
- to decide on making and accepting commercial loans;
- to understand risks of financial and investment decision making and to know ways how to consider and minimize them.
- to know short-term liquidity management tools.

For successful completion of the course, you must have knowledge of accounting, be able to perform financial analysis and interpret the results of the financial analysis, understand the importance of a functioning financial market, have knowledge of the banking, financial mathematics and business economics.

Not applied.

The course contains lectures that explain principles, decisions problems and methodology of the discipline, and exercises that promote the practical knowledge of the subject presented in the lectures.

Credit requirements:
Successful completion of each of the two tests.
For each test, you can get max. 50 points, for a total of 100 points from exercise. For the successful completion test is considered a test in which the student reaches at least 25 points. This assessment can not be repaired.
For each of the tests will establish one term that is both corrective and replacement schedule.

EXAM:
The exam is written (if appropriate, orally) and focuses on the verification of theoretical knowledge and practical applicability. Students can get the exam a maximum of 60 points, level with proven knowledge test must be at least 50%.
The resulting score is sum of points from exercises and tests of the following:
Rating / Body
E <80-96>
D <97-112>
C <113-128>
B <129-144>
A <145-160>
If the student gets from exercise at least 80 points on the first term, he may apply to register the classification of the course E respectively. D without the participation of the test.

1. Company financial management. Aspects of strategic financial management. Content of financial management during different business life cycle phases.
2. Company financial goals. Economic Value Added.
3. Financing strategy – Equity financing (internal, external – stocks issue: capital market, types of stocks and related rights).
4. Financing strategy – Equity financing (external – stocks issue: increasing of owner's equity, venture capital).
5. Financing strategy – Debt capital (bonds, bank loan).
6. Financing strategy – Debt capital (leasing). Costs of capital and their utilization in financial decision making.
7. Financing strategy – Company capital structure optimalization. Company dividend policy.
8. Market company valuation. Strategic company valuation. Financial Planning.
9. Investment strategy – types of investment strategy. Capital Planning. Risks in investment projects.
10. Company liquidity management. Net working capital management
11. Credit management. Discount.
12. Cash management.
13. Foreign exchange risk management.

Not applicable.

The aim of the subject is to make students familiar with company financial management problems with stress on effective fund raising and capital investing. From this point of view:
- to present principles of decision-making about utilization of company financial resources;
- to give consideration to financial planning issues including risk analysis;
- to address a problem of company liquidity management.

Attendance at lectures is not compulsory, but is recommended. Attendance at seminars is checked by the tutor. Lessons are composed on the basis of weekly schedules. Way of substituting missed lessons is fully in competence of a teacher.

Not applicable.

Not applicable.

BRIGHAM, E. F. & EHRHARDT, M. C. Financial Management: Theory and Practice, 2011, 1152 s. ISBN 978-1-4390-7809-9 (EN)
REŽŇÁKOVÁ, M. a kol. Řízení platební schopnosti podniku. Praha: Grada, 2010. 200 s. ISBN ISBN 978-80-247-3441-5 (CS)
REŽŇÁKOVÁ, M. Efektivní financování rozvoje podnikání. Praha: Grada, 2012. ISBN 978-80-247-1835-9 (CS)
KISLINGEROVÁ, E. a kol. Manažerské finance. 2. přeprac. a rozš. vyd. Praha: C. H. Beck, 2007. 745 s. ISBN 978-80-7179-903-0. (CS)
NÝVLTOVÁ, R. REŽŇÁKOVÁ, M. Mezinárodní kapitálové trhy: zdroj financování. Praha: Grada, 2007. 222 s. ISBN 978-80-247-1922-1. (CS)
MAŘÍK, M. MAŘÍKOVÁ, P. Moderní metody hodnocení výkonnosti a oceňování podniku: ekonomická přidaná hodnota, tržní přidaná hodnota, CF ROI. Přeprac a rozš. vyd. Praha: Ekopress, 2005. 164 s. ISBN 80-86119-61-0. (CS)
VALACH, J. Investiční rozhodování a dlouhodobé financování. 2. přeprac. vyd. Praha: Ekopress, 2005. 465 s. ISBN 80-86929-01-9. (CS)
BREALEY, R.A. a MYERS, C.S. Teorie a praxe firemních financí. Praha: Computer Press, 2000. 1064 s. ISBN 80-7226-189-4. (CS)
KRAĽOVIČ, J., VLACHYNSKÝ, K. Finančný manažment. Bratislava: Iura Edition. 2006, ISBN 978-80-8078-042-0 (CS)
FOTR, J. Strategické finanční plánování. Praha: Grada Publishing, 1999. 149 s. ISBN 80-7169-694-3. (CS)

REŽŇÁKOVÁ, M. Efektivní financování rozvoje podnikání. Praha: Grada, 2012. ISBN 978-80-247-1835-9 (CS)
REŽŇÁKOVÁ, M. a kol. Řízení platební schopnosti podniku. Praha: Grada, 2010. 200 s. ISBN ISBN 978-80-247-3441-5 (CS)
KISLINGEROVÁ, E. a kol. Manažerské finance. 2. přeprac. a rozš. vyd. Praha: C. H. Beck, 2007. 745 s. ISBN 978-80-7179-903-0. (CS)
REŽŇÁKOVÁ, M. Finanční management: studijní text pro kombinovanou formu studia. 1. díl. 3 akutaliz a rozš. vyd., Brno: CERM, 2005. 125 s. (CS)
REŽŇÁKOVÁ, M. Finanční management: studijní text pro kombinovanou formu studia. 2. díl. 3. aktualiz. a rozš. vyd. Brno: CERM, 2005. 125 s. (CS)

26 hours, compulsory

1. Introduction. Cash flow.
2. Financial planning
3. Cost criteria for issue of stocks and bonds. Pre-emption rights to buy the shares.
4. Capital structure optimalization. Indifferent capital structure. Marginal costs of capital.
5. Capital budgeting – planning of investment projects’ earnings and expenses.
6. Methods for assessment of leasing investment financing effectiveness.
7. Test 1.
8. Methods for investment projects assessment – their utilization and risks.
9. Approaches to discount rate determination. Risk in investment decisions and its diversification.
10. Decisions on the use of factoring. Forward and futures contracts.
11. Cash conversion cycle. Net working capital. Discount offering. Decisions on discount acceptance.
12. Test 2.
13. Course – unit credits, correcting test.