Financial Management
Code: 101200 ECTS Credits: 6| Degree | Type | Year | Semester |
|---|---|---|---|
| 2500894 Tourism | OB | 3 | 2 |
Contact
- Name:
- Jordi Rizo Gubianas
- Email:
- jordi.rizo@uab.cat
Teaching groups languages
To check the language/s of instruction, you must click on "Methodolody" section of the course guide.
Teachers
- Ane Elixabete Ripoll Zarraga
Prerequisites
The subject Financial Management is a compulsory subject that transmits the basic concepts related to the management of a business in the tourism industry and the connection with the financial world. Financial Management wants to give the essential tools to the student for her/him to make business decisions in a rational way.
Behind the course of Financial Management, there is the study of the accounting information provided by the company in order to use this information in the most efficient way possible, to obtain information that allows us to comment and understand the management and current situation of the business.
The study of this subject involves:
a) Understanding of accounting framework
b) Know the differences between the different funding sources
c) Evaluate the possibility of making a new investment
To facilitate the learning process, it is convenient for the student to know the information provided by the Financial Statements; the balance sheet, the profit and loss account and the statement of cash flows. It is necessary to have completed the accounting course.
The main objective of the subject is for the student to learn about the main techniques used in order to make informed decisions about new investments and their financing.
Objectives and Contextualisation
At the end of the course, the student will be able to:
a) Know about useful financial information in order to make management decisions regarding Business and new investments (Analyze the main financial statements, Balance Sheet, Profit and Loss and Statement of cash flow.
b) Evaluate if an investment is financially feasible or not.
c) Understand the different from of funding for a company or new investment
Competences
- Apply the concepts related to tourism products and businesses (economy and finance, human resources, commercial policy, markets, operations and strategy) in the different parts of the sector.
- Develop a capacity for independent learning.
- Propose creative alternative solutions to problems arising in the field of tourism management, planning, businesses and products.
- Use communication techniques at all levels.
- Work in a team.
Learning Outcomes
- Apply the concepts of financial, accounting and resources management with regard to the tourism product and business, in the different parts of the sector.
- Develop a capacity for independent learning.
- Evaluate investment projects.
- Identify a business's financial options in the short and long term.
- Identify the information provided by the financial statements and determine the economic and financial situation of a business.
- Issue technical accounting reports on a company's financial situation, suggesting solutions to problems and ways to improve.
- Use communication techniques at all levels.
- Work in a team.
Content
First Part: Analysis of accounting information
Topic 1. The company and the financial director
Topic 2. Accounting and finance
Topic 3. Analysis of the Financial Statements of the Company: Balance Sheet, Profit and Loos and Statement of Cash flows.
Second Part: Techniques to analyze the viability of new investments
Topic 4. The value of money over time
Topic 5. The net present value (NPV) and the internal rate of return (IRR)
Topic 6. Sources of financing: definition and classification, short and long term, external and internal
Methodology
Language of the course: Spanish (Tourism Degree), English (Tourism Degree in English).
The teaching methodology used in this subject Financial Management:
Theoretical part
The teaching methodology used involves face-to-face classes and high student participation. Through the lectures, the teacher will introduce and define the concepts and techniques of the subject. Students will have the basic contents of the subject through the Virtual Campus (Moodle).
The student must also consult the chapters of the recommended bibliography associated with each chapter and their contributions, doubts and reflections during the class will be assessed.
Practical part
The practical part of the subject will be developed by performing practical exercises either in the classroom or in the computer room that will have to be solved as a group
The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses.
Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Case Study presentation | 4 | 0.16 | 6, 5, 7, 8 |
| In class practical cases | 10 | 0.4 | 6, 5, 7, 8 |
| Theorical Clases | 40 | 1.6 | 1, 5, 4 |
| Type: Supervised | |||
| Face to Face Tutoring | 18 | 0.72 | 6, 5 |
| Type: Autonomous | |||
| Case Studies | 30 | 1.2 | 1, 2, 6, 5, 4, 8, 3 |
| Individual Study | 24 | 0.96 | 1, 2, 6, 5, 4, 3 |
| Resolution practical cases | 12 | 0.48 | 1, 2, 6, 5, 4, 3 |
Assessment
A) CONTINUOUS EVALUATION:
1-Exams (60%)
There will be two individual written tests on the contents discussed in class and the readings made by the students, which will count as 60% of the final grade (30% each). Each test will be done at the end of each part as stated in content section.
These tests are intended to assess the theoretical and practical knowledge of the contents of the subject.
In order to consider the average of the exams, you must have a minimum score of 3.5 in either one.
2-Practical cases and others (15%)
The qualification of these exercises and others will be 15% on the grade. The format of evaluation will be explained and detailed by the professor of the assignment on the first day of class
3-Case Studies (25%)
The work will be done in groups (minimum 3 maximum 5 people).
It will consist of the economic and financial analysis of Financial Statements of a real company in the tourism sector.
The last week of the course will be the presentations of each group. The case study will be 25% of the final grade.
The grade obtained is the same for all the members of the group that have participated in the activity.
The course is approved with a final grade of 5 in continuous evaluation.
Important Information
In order to be PASS the continuous evaluation and be EXCUSED from the FINAL exam the Student must have an average minimum of:
- Exams -minimum of 5 in total, with minimum of 3.5 in one of the exams
If the average result of the exams is approved (minimum of 5) by continuous Assessment, the student does not have to take the FINAL exam according to the officialexam calendar. And one of the following:
- -Exercises to be delivered and others minimum of 5
- -Case Study – minimum of 5
However, the student who fails a part or both parties can be examined from the suspended part or from the whole subject in the FINAL exam of the month according to the official exam calendar.
B) UNIQUE EVALUATION - FINAL EXAM
Students, who have not passed the subject by continuous evaluation or have not followed it, can take the FINAL exam.
C) RECOVERY- RE TAKE EXAM
Only those students who in the FINAL evaluation have obtained a grade equal to or higher than 3.5, but less than 5 will be able to access the recovery. If student pass the retake exam, the maximum grade to apply will be five.
The proposed evaluation activities may undergo some changes according to the restrictions imposed by the health authorities on on-campus courses.
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| 1st exam (theory and practical) | 30% | 2 | 0.08 | 1, 6, 5, 4, 3 |
| 2nd exam (theory and practical) | 30% | 2 | 0.08 | 1, 6, 5, 4, 3 |
| Case Studies | 25% | 4 | 0.16 | 1, 2, 6, 5, 4, 7, 8, 3 |
| Practical cases and others | 15% | 4 | 0.16 | 1, 2, 6, 5, 4, 7, 8, 3 |
Bibliography
BIBLIOGRAPHY
Subramanyam, K.R. (2013), "financial Statement Analysis ". Irwin Accounting
Walker, J. (2009): Accounting in a nutshell. Edició 3rd ed. Electronic resource from "Biblioteca de Ciències Socials. UAB".
Arenas, P.; Moreno, A. (2008): Introducción a la auditoría financiera. Ed. McGraw-Hill Wild, J; Subramanyam, K.; Halsey, R. (2007): Análisis de estados financieros. 9ª ed. Ed. McGraw-Hill.
Supplementary bibliography
Brealey, R; Myers, S.; Marcus, A. (2007): Principles of corporate finance. Mc Graw Hill.
Amat, O. (2008). Análisis de estados financieros. Barcelona: Ediciones Gestión 2000.
Brealey, R., S.C.Myers y F.Allen (2010). Principios de finanzas corporativas. 9ª edición. Madrid: McGraw-Hill (En inglés hay disponible la 10ª edición: Principles of Corporate Financio, McGraw-Hill, 2010).
Garrido, P.; Iñiguez, R. (2010): Análisis de estados contables. Elaboración e interpretación de la información financiera. Ediciones Pirámide.
Medina Hernández, Uno. (2010): Gestión Financiera de actividades turísticas. 1ªedición. Ediciones Pirámide.
Parra López, E. y Calero García, FJ. (2006): Gestión y Dirección de Empresas Turísticas. 1ªedición. Madrid: McGraw-Hill.
Ross, S.A., R.W.Westerfield y J.Jaffe (2010).Moderno Financial Management. 9ª edición. Nueva York: McGraw-Hill. (Edición en castellano: Finanzas corporativas, 9ª edición. México DF: McGraw-Hill, 2010)
Gómez Valls, Francesc. Aplicación en Excel para la elaboración de estados de flujos de efectivo. Editorial Profit.
Tinard, Y (1996): “Turismo: Economía y Gestión”. Ed. Bosch. Barcelona.
Webs
Instituto de Contabilidad y Auditoría de Cuentas (ICAC). http://www.icac.meh.es
Banco de España. http://www.bde.es
Banc Central Europeu. http://www.ecb.int
Borsa de Madrid. http://www.bolsamadrid.es
Comisión Nacional del Mercado de Valores. http://www.cnmv.es
Guía Empresarial de Esade. http://www.guiame.net
Consell General de Cambres de Catalunya. http://www.cambrescat.es
Informe Anual de l'Empresa Catalana. http://www.gencat.net/economia/progecon/ecocat/inform.htm
Registro de Economistas Auditores. http://www.rea.es
Registre Mercantil. http://www.registradores.org
Instituto Censores Jurados de Cuentas de España. http://www.icjce.es
Software
Sabi
Excel