‘Financial Management: Finance’, obligatory subject of 6 credits, is taught in the second semester of the 2nd year of the Degree in Business Administration and Management. It is complemented by the ‘Financial Management: Investments’ course.

Financial Department aims to study financing and investment decisions within the company. The objective of the ‘Financial Management: Finance’ is to understand the sources of financing of the company, with special emphasis on bank financing and other financial entities. The different financial products existing in the market are studied analyzing their characteristics, utility and cost.

Given its mandatory and applied nature, together with the Financial Management: Investment, it must serve to lay the foundations of the knowledge of the business financial problem of the Degree on Business, in general, and of the one who studies the specialty of Finance, in particular.

In order to develop Financial Management: Finance without excessive difficulty, elementary knowledge of solving equations that are studied in the mathematics of 2nd Baccalaureate and a mastery of the financial calculation that is studied in the Mathematics of Financial Operations subject, which is taught in the first semester of the 2nd year of the Degree.

SPECIFIC COMPETENCES:

1. Identify the main sources of financial information that help decision making in order to select the appropriate sources of funding.

2. Analyze, following professional criteria, the economic and financial problems derived from a specific financial structure.

3. Select, according to financial criteria, the sources of financing to achieve an adequate financial structure in the company, according to their needs and their competitive situation.

4. Evaluate, from a financial point of view, the main financial products, in order to select the most appropriate to the needs of a company.

5. Estimate the weighted average cost of the company's capital.

6. Issue advisory reports, within the framework of a work team, on the financial situation of a company, using appropriate terminology.



RESULTS OF LEARNING:

1. Identification of adequate sources of financing.

2. Analysis of business economic-financial problems.

3. Evaluation and choice of financing sources and appropriate financial products.

4. Obtaining the weighted average cost of the capital of the company.

5. Advisory reports on the financial situation of a company written with the appropriate terminology.



In the observations section, the transversal competences of the Degree in Administration and Management of companies working in this subject are indicated:

UNIT 1. Business financing.

UNIT 2. Internal and external financing

UNIT 3. Internal financing (Depreciation and self-financing)

UNIT 4. External financing (Suppliers, Bank financing, factoring, leasing, Capital issue...)

UNIT 5. Cost of Capital and the weighted average cost of capital.

UNIT 7. Other financial issues

Various teaching methodologies are used in this subject. In the classroom lectures the conceptual contents of the subject will be taught, with active student participation.

The resolution of exercises in the classroom will be done in a participatory manner. Cases, problems, exercises and cases that will be developed individually or in groups will be raised, which will allow to deepen the knowledge of the subject. Open discussion will be encouraged, so that students acquire skills related to oral communication, analytical thinking and critical judgment.

In the computer practices, the Excel spreadsheet will be used to solve problems and a basic financial management program for SMEs will be presented.

To complement the above, students will prepare an essay, individually and in group presentation (four being the maximum number of members) related to different topics that are developed in the subject. Theses task will help to develop writing, communication and teamwork skills.



Dr. Anjel Errasti office 46

Tel: 943015781 e-mail: a.errasti@ehu.eus

• Continuous Assessment System
• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 70
  • De manera voluntaria, se puede elaborar un trabajo, individual o en grupo (siendo tres el número máximo de integrantes) relacionado con alguno de los temas que se desarrollan en la asignatura, que será necesario presentar y defender en público. Este trabajo se valorará sobre un punto. (%): 30

The evaluation system will consist of two parts:



Continuous evaluation (4 points). The activities will combine individual and group tasks, both face-to-face and non-face-to-face, and tasks of a conceptual nature compared to others that apply to business situations. At the beginning of the semester the dates of completion and delivery will be detailed. The parts of the evaluation will be:

• Exercises: Resolution of exercises and Financial advice report that includes an analysis of the financial situation of a company, as well as the preparation of a series of recommendations or possibilities for improvement (1 point).

• Financial essays (1,5 point)



• Theoretical test of the subjects (2 points).

- Presentations (1,5)



Final exam (5 points) will be assessed the theoretical and practical knowledge acquired. The exam consists of exercises or cases in which different questions will be raised to assess the degree of understanding and reasoning of the students about the subject.



The final grade will be the sum of the grade of the continuous assessment and the exam, provided that in the exam a minimum grade of 35% of the value of the exam is obtained, otherwise the exam grade will be maintained. For students who have recognized the final evaluation, the exam will add 100% of the final grade and will include an objective test (test) and / or written test to develop the topics.



In any case, students will have the right to be evaluated through the final evaluation system, regardless of whether or not they have participated in the continuous evaluation system. For this, students must submit in writing to the coordinator of the subject the waiver of the continuous evaluation, for which they will have a period of 9 weeks from the beginning of the semester, according to the academic calendar of the center. The final exam for students who have not waived the continuous assessment will be over 6 points.



Whoever has done the continuous evaluation and does not take the exam will appear as not presented.



During the exam it is forbidden to use books, notes or notes, as well as electronic, computer, or other devices or devices (phones, tablets, laptops and smartwatch watches) by students, and must be turned off and stored in Backpacks and bags.

Due to Covid-19 the final exam will be online

1. For those who have carried out the continuous evaluation in the first call, unless they expressly indicate otherwise before the exam, the grade obtained in the continuous evaluation will be maintained (maximum score 4 points). They must also take a final test similar to the one detailed for the first call (maximum score 6 points). The grade will be the sum, as long as the exam receives a minimum grade of 35% of the value of the exam, otherwise the exam grade will be maintained.



2. Those who have NOT carried out the continuous evaluation must carry out a final evaluation similar to that detailed for the first call.



Whoever has done the continuous evaluation and does not take the exam will appear as not presented.



During the exam it is forbidden to use books, notes or notes, as well as electronic, computer, or other devices or devices (phones, tablets, laptops and smartwatch watches) by students, and must be turned off and stored in Backpacks and bags.



If it is verified that any of the evidence submitted has been copied, the continuous evaluation will be canceled, and the qualification in the subject will be suspended in that call.

If it is verified that any of the evidence submitted has been copied, the continuous evaluation will be canceled, and the mark in the subject will be 0.



Due to Covid-19 the final exam will be online

'Financial Management: Finance' handbook will be avalaibe at the photocopy shop and in egela.

Accredited B2 level (or Cambridge First Certificate) required.

Basic bibliography

BREALEY, R.; MYERS, S. y MARCUS, A. (2007): Principios de Dirección Financiera, Editorial McGraw-Hill, Madrid.



PEREZ GOROSTEGUI, E. (2002): Introducción a la Economía de la Empresa, Editorial Pirámide.



PISON, I. (2001): Dirección y Gestión Financiera de la Empresa, Editorial Pirámide, Madrid.



RUIZ, R.J. y GIL, A.M. (2006): Introducción a la Dirección Financiera, Editorial síntesis, Madrid.



SUAREZ SUAREZ A.S. (1987): Economía Financiera de la Empresa, Editorial Pirámide, Madrid.

In-depth bibliography

ALVAREZ LOPEZ, J.(1.980): Planificación de la Empresa y Control Integrado de Gestión, Editorial Donostiarra.

DÍEZ DE CASTRO, L.T. y LÓPEZ, J. (2001): Dirección Financiera, Editorial Prentice Hall, Madrid.

DURBAN OLIVA, S. (2008): Dirección Financiera, Mc Graw Hill, Madrid.

SUAREZ SUAREZ A.S. (2005): Decisiones óptimas de inversión y financiación en la empresa, Editorial Pirámide, Madrid.

VAN HORNE, J. C. y WACHOWICZ, J. M. Jr. (2002): Fundamentos de Administración Financiera, Editorial Pearson Educación - Prentice Hall, México.

Journals

- Análisis Financiero

- Cuadernos de Gestión

- Estrategia Financiera

- Revista de Dirección y Administración de Empresas

Web addresses

www.estrategiafinanciera.es [Web de la revista Estrategia Financiera]

www.finanzas.com [Web Información de economía y finanzas. Noticias y cotizaciones de la bolsa, la banca, los mercados de valores y divisas]

http://www.cnmv.es [Web de la Comisión Nacional del Mercado de Valores]

http://www.bolsabilbao.es [Web de la Bolsa de Bilbao]

http://www.bde.es [Web del Banco de España]

http://www.mcc.es [Web de Mondragón Corporación Cooperativa]