FIN 301 Corporation Finance (3)
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FIN 301 Corporation Finance (3)
Nature of finance function; risk and return concepts; working capital; dividend policies; mergers; security markets; acquisition and management of corporate capital; analysis of operations; forecasting capital requirements; raising capital; and planning profits. May not be used to satisfy Smeal College baccalaureate degree requirements. Not available to students who have completed B A 301. Prerequisites: ENGL 015 or ENGL 030; ACCTG 211; ECON 102 or ECON 104; SCM 200 or STAT 200
Overview | Objectives | Materials | Using the Library | Technical Requirements | Course Requirements and Grading | Course Assignments | Course Schedule | Academic Integrity | Accommodating Disabilities | Policies
Overview
Finance 301, Corporation Finance, provides a basic understanding and framework of how firms acquire, allocate, and control their financial resources. It covers the acquisition and management of corporate capital; analysis of operations, forecasting capital requirements, raising capital, and planning profits. This is an introductory finance course focusing on basic financial principles and practices essential to managing a business. In addition, this course also covers financial markets, institutions, organizational forms and investments. FIN 301 relies heavily on accounting and economic principles with a strong emphasis on problem solving and decision making. One objective of this class is to be able to assess the past and present performance of the firm. This can be achieved through vertical and horizontal analysis of the financial statements as well as ratio analysis. Another aspect of this course is the financial planning process. This includes concepts such as pro forma statements, developing the statement of cash flows, as well as the budgeting process through the preparation of the cash budget. Another facet of this class is to understand how financing and investment decisions are made. Students will learn about the time value of money as well as fundamental techniques for valuing financial assets such as stocks and bonds. Additionally, capital budgeting techniques such as the net present value and internal rate of return are explained. Other important objectives include the management of working capital, the determination of the cost of capital, operating and financial leverage, and risk and return. The concepts and tools covered in this class allow the student to gain a fundamental understanding of how the finance function works within the business environment. Finance 301 promotes critical thinking and will enable the student to better integrate the individual functions of a business in order to make good business decisions.
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Course Objectives
Upon conclusion of this course, students will be:
Introduced to the world of finance, especially to the financial operations of businesses. Finance affects all segments of a company, so anyone involved with the management of a business needs some minimal knowledge of business finance.
Introduced to the concepts of financial statement analysis, financial forecasting, time value of money, risk vs. return, capital budgeting and valuation as they are applied in finance. This information is essential in business, but it is also very useful in one’s personal investment planning.
Focused on concepts and theories and applying them in practice. The course is designed for the general business student.
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Required Course Materials
You may purchase course materials from Barnes & Noble College (the bookstore used by Penn State's World Campus). For pricing and ordering information, please see the Barnes & Noble College website. Materials will be available at Barnes & Noble College approximately three weeks before the course begins. Alternatively, you may obtain these texts from other favorite bookstores. Be sure you purchase the edition/publication date listed.
Required:
The following materials are required for this course.
Textbook which may be purchased from Barnes & Noble College
Parrino. (2022) Fundamentals of Corporate Finance Wiley
ISBN # 9781119795438
Financial Calculator (TI BAII Plus recommended)
If you do not have one, you will need to purchase one from the vendor of your choice.
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Using the Library
Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can
access magazine, journal, and newspaper articles online using library databases;
borrow materials and have them delivered to your doorstep—or even your desktop;
get research help via email, chat, or phone using the Ask a Librarian service; and
much more.
You can view the Online Students' Library Guide for more information.
You must have an active Penn State Access Account to take full advantage of the Libraries' resources and services. Once you have a Penn State account, you will automatically be registered with the library within 24–48 hours. If you would like to determine whether your registration has been completed, visit the Libraries home page and select My Account.
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Technical Requirements
Technical Requirements
Operating System Penn State's LMS, Canvas, supports most recent versions of Microsoft Windows and Apple Mac operating systems.
To determine if your operating system is supported, please review the Canvas Computer Specifications.
Hardware For a list of required computer hardware specifications and internet speed, please review the Canvas Computer Specifications.
Browser Canvas supports the last two versions of every major browser release. We highly recommend updating to the newest version of whatever browser you are using.
To determine if your browser is supported, please review the list of Canvas Supported Browsers.
Please note that due to Instructure's reduction of support for Internet Explorer, students and instructors should choose another browser to use such as Firefox, Chrome, Edge, or Safari.
Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites.
Additional Software
All Penn State students have access to Microsoft Office 365, including Microsoft Office applications such as Word, Excel, and PowerPoint.
Students will need Adobe Acrobat, available through Adobe Creative Cloud.
Sound Card, Microphone, and Speakers Required
Monitor Capable of at least 1024 x 768 resolution
Mobile Device The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App Requirements.
As a Penn State student, you have access to LinkedIn Learning, your one-stop shop for video tutorials on Illustrator, Dreamweaver, Photoshop, Access, Excel, PowerPoint, and countless other topics—all free to active Penn State faculty, staff, and currently enrolled students. Take tutorials to help with coursework, learn techniques for your own projects, and boost your résumé with tech skills.
If you need technical assistance at any point during the course, please contact the Service Desk.
For registration, advising, disability services, help with materials, exams, general problem solving, visit World Campus Student Services!
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Tutor.com
Tutor.com is a 24/7 tutoring service that provides students with assistance in coursework, test preparation, research, writing, and more for various subjects. The tutors are subject-matter experts, and each student will have personalized one-on-one sessions with them. Students can schedule their own tutoring appointments to engage in interactive sessions that include a whiteboard and chat feature. The service can be utilized on any device that has Internet access. Students are encouraged to use the service throughout the semester.
You can access this service by selecting Tutor.com from your course navigation menu. Here you can select your subject, enter a question, and begin your tutoring session.
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Course Requirements and Grading
Reminder: Please keep in mind that you can use the free Tutor.com services to assist you in preparing for your assignments and understanding key concepts. You may NOT use this service during graded assignments, quizzes, or exams. Students AND instructors have access to transcripts from tutoring sessions.
Assessment
Assessment
Points Percentage
4 Exams with time limit 200 40%
4 Applied Excel Exercises 70 14%
12 Quizzes 120 24%
Stock Investment Challenge 50 10%
Discussion & Participation 60 12%
Total Points: 500 100%
Grading Scale
Numerical value Letter grade
93 and above A
90–92.99 A-
87–89.99 B+
83–86.99 B
80–82.99 B-
77–79.99 C+
70–76.99 C
60–69.99 D
below 60 F
For students enrolled in the BSBIC program, a grade of C or better is required to pass this course.
Please refer to the University Grading Policy for Undergraduate Courses for additional information about University grading policies.
If, for reasons beyond the student's control, a student is prevented from completing a course within the prescribed time, the grade in that course may be deferred with the concurrence of the instructor. The symbol DF appears on the student's transcript until the course has been completed. Non-emergency permission for filing a deferred grade must be requested by the student before the beginning of the final examination period. In an emergency situation, an instructor can approve a deferred grade after the final exam period has started. Under emergency conditions during which the instructor is unavailable, authorization is required from one of the following: the dean of the college in which the candidate is enrolled; the executive director of the Division of Undergraduate Studies if the student is enrolled in that division or is a provisional student; or the campus chancellor of the student's associated Penn State campus.
For additional information please refer to the Deferring a Grade page.
Course Assignments
Exams
There are four exams for this course. The exams will consist of quantitative questions and multiple choice questions. The quantitative questions will be worth approximately forty (40) points and the multiple choice questions will be worth approximately ten (10) points for each exam (the exact distribution may vary). Students will have ninety (90) minutes to complete each exam. Students will also be given two attempts for each exam; the scores for both attempts will be averaged together for the final score. For calculation-based questions, please round to the decimal place indicated in the question. You should not round until after all calculations have been completed and you have reached your final answer. Exams must be submitted by 11:59 p.m. North American Eastern Time (ET) Sunday of the week in which they are assigned.
Examination 1 = Lessons 1 through and including 3;
Examination 2 = Lessons 5 through and including 7;
Examination 3 = Lessons 9 through and including 11;
Examination 4 = Lessons 13 through and including 15.
Applied Excel Exercises
There are four Excel exercises throughout this course. The Excel exercises have been designed to provide students with realistic case examples. The four exercises are individual assignments. Their point values are as follows:
MLHR Common Size Analysis Excel Assignment (20 points)
Loan Amortization Excel Exercise (10 points)
Calculating Returns Excel Assignment (10 points)
Final Project Excel Exercise (30 points)
Excel exercises must be submitted by 11:59 p.m. ET Sunday of the week in which they are assigned.
Quizzes
There will be a total of twelve (12) quizzes throughout this course. Quizzes can be taken up to three times until the final due date; 11:59 p.m. ET Sunday of the week in which they are assigned. The highest quiz score will be used for grading purposes. The quizzes will vary in format, but have been designed to give students ample opportunity to practice and apply what has been learned in the lesson. For calculation-based questions, please round to the decimal place indicated in the question. You should not round until after all calculations have been completed and you have reached your final answer.
How the Market Works Group Investment Challenge
Throughout the duration of this course you will be participating in a team investment challenge. As part of this challenge you and your team will be developing an investment strategy, investing in equities, and establishing an active equity portfolio. Your performance will be compared to other teams, the S&P 500 and the instructor’s portfolio. There are four milestones where your team will be required to provide updates.
Step 1: Create your Active Portfolio & Memo: 10 pts (Due Lesson 2)
Step 2: First Evaluation Memo: 10 points (Due Lesson 4)
Step 3: Second Evaluation Memo: 10 points (Due Lesson 8)
Step 4: Final Performance Report: 20 points (Due Lesson 12)
In addition to the points referenced above, you can also earn 5 bonus points for beating the “benchmark” S&P 500 portfolio.
Discussion & Participation
Discussion Forums will play a large role in this course. Each week you will be asked to participate in a minimum of one discussion forum. The effectiveness of the discussion forum depends on the quality and quantity of your contributions. You are required to post your initial posting and then respond to the specified number of other posts as detailed in the instructions; however, you are strongly encouraged to post more than the minimum requirement. Initial entries should be posted by Thursday of the given week. The additional postings should be completed no later than 11:59 p.m. (ET) Sunday.
You will be graded on the quality of your responses. A simple "I agree/disagree" is not considered a quality response. A quality response is one that extends the discussion and provides new insights or perspectives. This includes responses to other posts as well as responses to comments on your own post.
Your post should show original thought and be substantiated by using content from the textbook or an outside source. All sources should be cited properly using APA format.
Specific grading details are available in the Discussion Forum Grading Rubric.
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Course Schedule
Note: All due dates reflect North American eastern time (ET).
Course begins: January 9, 2023
Course ends: April 28, 2023
Final Project: May 1 to May 2, 2023
Note: All assignments are due by 11:59 PM North American eastern time (ET) Sunday of the week they are assigned unless otherwise stated.
Course Orientation and Introduction
Lesson 1: Introduction
Time frame:
January 9 to January 15, 2023
Readings:
Read Chapter 1: The Financial Manager and the Firm
Read the online commentaries: Lesson 1 Introduction
Assignments:
Complete Discussion Forum
Form Teams & Begin How the Market Works Group Project
Lesson 2: Review of Financial Statements
Time frame:
January 16 to January 22, 2023
Readings:
Read Chapter 3: Financial Statements, Cash Flows, and Taxes
Read the online commentary, Lesson 2: Review of Financial Statements.
Assignments:
Complete Discussion Forum
Lesson 2 Stock Portfolio Exercise
Complete Lesson 2 Quiz
Lesson 3: Financial Statement Analysis
Time frame:
January 23 to January 29, 2023
Readings:
Read Chapter 4: Analyzing Financial Statements
Read the online commentary, Lesson 03: Financial Statement Analysis.
Assignments:
Complete Discussion Forum
Complete practice and end of chapter problems
Complete Lesson 03 Quiz
Lesson 4: Stock Investment Challenge Exercise & Exam
Time frame:
January 30 to February 5, 2023
Readings:
Read the online commentary, Lesson 04: Stock Investment Challenge Exercise.
Assignments:
Exam 1
Complete Common Size Analysis Excel Exercise
Complete How the Market Works Step 1
Complete How the Market Works Discussion Forum
Lesson 5: Time Value of Money: Lump Sums
Time frame:
February 6 to February 12, 2023
Readings:
Read Chapter 5: The Time Value of Money
Read the online commentary, Lesson 05: Time Value of Money Lump Sums.
Assignments:
Complete Discussion Forum
Complete end of Chapter 4 problems 1 - 6
Complete Lesson 05 Quiz
Lesson 6: Time Value of Money: Annuities
Time frame:
February 13 to February 19, 2023
Readings:
Read Chapter 6: Discounted Cash Flows and Valuation
Read online commentary, Lesson 06: Time Value of Money: Annuities.
Assignments:
Complete Discussion Forum
Complete end of Chapter 4 problems 7 - 18
Complete Loan Amoritization Excel Exercise
Complete Lesson 06 Quizzes 1, 2, & 3
Lesson 7: Bonds
Time frame:
February 20 to February 26, 2023
Readings:
Read Chapter 8: Bond Valuation and Structure of Interest Rates
Read online commentary, Lesson 07: Bonds.
Assignments:
Complete Discussion Forum
Complete end of chapter problems
Complete Lesson 07 Quiz
Lesson 8: Stock Investment Challenge Exercise & Exam
Time frame:
February 27 to March 5, 2023
Readings:
Read the online commentary, Lesson 08: Stock Investment Challenge Exercise.
Assignments:
Exam 2
Complete How the Market Works Step 2
Complete How the Market Works Discussion Forum
Semester Break
Time frame:
March 6 to March 12, 2023
Readings:
None
Assignments:
None
Lesson 9: Stocks
Time frame:
March 13 to March 19, 2023
Readings:
Read Chapter 9: Stock Valuation
Read online commentary, Lesson 09: Stocks.
Assignments:
Complete Discussion Forum
Complete end of Chapter 6 problems
Complete Lesson 09 Quiz
Lesson 10: Risk vs. Return
Time frame:
March 20 to March 26, 2023
Readings:
Read Chapter 7: Risk and Return.
Read online commentary, Lesson 10: Risk vs. Return.
Assignments:
Complete Discussion Forum
Complete end of Chapter 7 problems
Complete Excel Calculating Returns Exercise
Complete Lesson 10 Quiz
Lesson 11: Measuring Risk and Return
Time frame:
March 27 to April 2, 2023
Readings:
Read Chapter 7: Risk and Return.
Read online commentary, Lesson 11: Measuring Risk and Return
Assignments:
Complete Discussion Forum
Solve end of Chapter 8 problems
Complete Lesson 11 Quiz
Lesson 12: Stock Investment Challenge Exercise & Exam
Time frame:
April 3 to April 9, 2023
Readings:
Read the online commentary, Lesson 12: Stock Investment Challenge Exercise.
Assignments:
Exam 3
Complete How the Market Works Step 3
Complete How the Market Works Discussion Forum
Lesson 13: Weighted Average Cost of Capital
Time frame:
April 10 to April 16, 2023
Readings:
Read Chapter 13: The Cost of Capital.
Read online commentary, Lesson 13: Weighted Average Cost of Capital.
Assignments:
Complete Discussion Forum
Complete Lesson 13 Quiz
Complete Team Investment Challenge Peer Evaluation
Lesson 14: Introduction to Capital Budgeting and Techniques
Time frame:
April 17 to April 23, 2023
Readings:
Read Chapter 10: The Fundamentals of Capital Budgeting.
Read online commentary, Lesson 14: Introduction to Capital Budgeting and Techniques.
Assignments:
Complete Discussion Forum
Complete end of Chapter 10 problems
Complete Lesson 14 Quiz
Lesson 15: Incremental Cash Flows & Advanced Capital Budgeting Problems
Time frame:
April 24 to April 28, 2023
Readings:
Read Chapter 11: Cash Flows and Capital Budgeting
Read online commentary, Lesson 15: Incremental Cash Flows & Advanced Capital Budgeting Problems.
Assignments:
Exam 4
Complete Discussion Forum
Solve end of Chapter 11 problems
All assignments are due by 11:59 p.m. on Friday.
Final Project
Time frame:
May 1 to May 2, 2023
Readings:
None
Assignments:
Complete Final Project Excel Exercise
All assignments are due by 11:59 p.m. on Tuesday.
Note: If you are planning to graduate this semester, please communicate your intent to graduate to your instructor. This will alert your instructor to the need to submit your final grade in time to meet the published graduation deadlines. For more information about graduation policies and deadlines, please go to the Graduation Information on the My Penn State Online Student Portal.
Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.
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Academic Integrity
Academic integrity—scholarship free of fraud and deception—is an important educational objective of Penn State. To learn more about academic integrity at Penn State, please visit the Penn State Academic Integrity site. Academic dishonesty can lead to a failing grade or referral to the Office of Student Accountability and Conflict Response.
Academic dishonesty includes but is not limited to
cheating,
plagiarism,
fabrication of information or citations,
facilitating acts of academic dishonesty by others,
unauthorized prior possession of examinations,
submitting the work of another person or work previously used without informing the instructor and securing written approval, and
tampering with the academic work of other students.
How Academic Integrity Violations Are Handled
In cases where academic integrity is questioned, the Policy on Academic Integrity indicates that procedure requires an instructor to notify a student of suspected dishonesty before filing a charge and recommended sanction with the college. Procedures allow a student to accept or contest a charge. If a student chooses to contest a charge, the case will then be managed by the respective college or campus Academic Integrity Committee. If a disciplinary sanction also is recommended, the case will be referred to the Office of Student Accountability and Conflict Response.
All Penn State colleges abide by this Penn State policy, but review procedures may vary by college when academic dishonesty is suspected. Information about Penn State's academic integrity policy and college review procedures is included in the information that students receive upon enrolling in a course. To obtain that information in advance of enrolling in a course, please contact us by going to the Contacts & Help page.
Additionally, World Campus students are expected to act with civility and personal integrity; respect other students' dignity, rights, and property; and help create and maintain an environment in which all can succeed through the fruits of their own efforts. An environment of academic integrity is requisite to respect for oneself and others, as well as a civil community.
For More Information on Academic Integrity at Penn State
Please see the Academic Integrity Chart for specific college contact information or visit one of the following sites:
Penn State Senate Policy on Academic Integrity
Turnitin (a web-based plagiarism detection and prevention system)
Additional Academic Integrity Violations
Please note: Various tutoring websites claim to offer you the opportunity to download answers to everything from accounting problems to quiz questions for little to no cost. Full papers can also be downloaded to submit in place of your own work. Use of these materials, or “ghosting,” is considered cheating and an academic integrity violation. Similarly, uploading exams, course materials, or your work to one of these sites is considered an academic integrity violation.
Using online services that complete assignments for you is considered an academic integrity violation.
Giving your Penn State Access ID and password to someone else to do your work is against University policy AD95/AD96 and an academic integrity violation; sanctions will be given for these violations.
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Accommodating Disabilities
Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has resources for students with disabilities. The Student Disability Resources (SDR) website provides contacts for disability services at every Penn State campus. For further information, please visit the SDR website.
In order to apply for reasonable accommodations, you must contact the appropriate disability resources office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation based on the documentation guidelines. If the documentation supports your request for reasonable accommodations, your campus's disability resources office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.
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Policies
Late Policy
Late Assignments will not be accepted. It is your responsibility to contact the instructor prior to the due date of an assignment if you are aware of extenuating circumstances that will impact your ability to meet a deadline. The instructor will determine if alternative arrangements may be made.
Blank or Erroneous Assignment Submissions
It is your responsibility to ensure that you have uploaded the correct document to each assignment prior to the assignment due date. Please check your assignment submission immediately after uploading a file in Canvas to ensure that it contains content and is the correct file. If you notice an error, such as a blank or incorrect file, you must resubmit the assignment before the assignment due date. Similarly, you are responsible for ensuring that discussion forum initial posts are not blank and that any website URL submissions (such as links to documents, video recordings, etc.) have the correct sharing settings enabled so that they can be viewed by recipients. Any blank or erroneous submissions that you have not resubmitted by the assignment due date will receive a zero for the assignment.
Additional Policies
For information about additional policies regarding Penn State Access Accounts; credit by examination; course tuition, fees, and refund schedules; and drops and withdrawals, please see the World Campus Student Policies website.
Students are responsible for online course content, taking notes, obtaining other materials provided by the instructor, taking tests (if applicable), and completing assignments as scheduled by the instructor. As a general rule, students should plan on logging into the course at least three times per week and spending at least three hours per course credit per week on the course, e.g., if the course is three credits, the student should plan on spending at least 9-12 hours per week on the course, just as they would in a residence course.
Students are responsible for keeping track of changes in the course syllabus made by the instructor throughout the semester.
Students are responsible for monitoring their grades.
Students must contact their instructor (and teammates when working on any collaborative learning assignments) as soon as possible if they anticipate missing long periods of online time due to events such as chronic illnesses, death in the family, business travel, or other appropriate events. The instructor will determine the minimal log on time and participation required in order to meet course responsibilities. In the event of other unforeseen conflicts, the instructor and student will arrive at a solution together.
Requests for taking exams or submitting assignments after the due dates require documentation of events such as illness, family emergency, or a business-sanctioned activity.
Conflicts with dates on which examinations or assignments are scheduled must be discussed with the instructor or TA prior to the date of the examination or assignment.
Students are responsible for following appropriate netiquette (network etiquette) when communicating with their instructor and classmates. For reference:
Tips for Being a Successful World Campus Student
Email and Communication Strategies
Behaviors that disrupt other students’ learning are not acceptable and will be addressed by the instructor.
For severe and chronic problems with student disruptive behavior, the following will be applied for resolution:
Senate Committee on Student Life policy on managing classroom disruptions: Office of Student Accountability and Conflict Response.
Penn State Principles
Penn State takes great pride to foster a diverse and inclusive environment for students, faculty, and staff. Acts of intolerance, discrimination, or harassment due to age, ancestry, color, disability, gender, gender identity, national origin, race, religious belief, sexual orientation, or veteran status are not tolerated and can be reported through Educational Equity via the Report Bias webpage.
Mental health services are available to help you maintain your academic success. Visit the student Mental Health Services website to learn more or to speak with a mental health advocate who can help you address concerns including anxiety, depression, relationship difficulties, and stress. If you or someone you know is experiencing a crisis situation, please call your local emergency service.
Veterans and currently serving military personnel and/or dependents with unique circumstances (e.g., upcoming deployments, drill/duty requirements, VA appointments, etc.) are welcome and encouraged to communicate these, in advance if possible, to the instructor in the case that special arrangements need to be made.
2023-01-12