The subject Financial Management: Financing is a core subject taught in the second semester of the second and third year of the Degree in Business Administration and Management, double Degree in Business Administration and Management + Computer Management and Information Systems Engineering and double Degree in Mechanical Engineering + Business Administration and Management and is part of the module M02, Advancement in Business Administration and Management, reflected in the Official Degree Report of the Degree in Business Administration and Management of the Faculty of Economics and Business, Vitoria-Gasteiz (UPV/EHU).

Students have previously taken the subject Business Economics: Introduction, in which they are introduced to the financial area and the work of a company's financial management. In addition, throughout the first four-month period, students have taken the subject Mathematics of Financial Operations, in which they have worked on calculation tools for some basic concepts in the area of Finance, which are necessary throughout the development of this subject.

In Financial Management: Financing, the main decisions to be taken by the financial management of a company are dealt with, as well as the criteria to be taken into account when choosing between them. It shows the characteristics (cost elements, maturity, enforceability, origin, etc.) and the method of analytical calculation of the cost of the main financing alternatives, which will make it possible to decide which source of financing is most appropriate for the economic structure of a company, as well as to obtain a fundamental element for financial decision-making. Furthermore, from a financial perspective, the aim is to train students to make decisions based on critical thinking, so that they can contribute at the same time to the achievement of business objectives and the major challenges facing the planet - which currently take the form of the Sustainable Development Goals (SDGs) set by the UN (2015).

The subject requires students to have a basic knowledge of mathematics, such as solving equations, interpreting functions and simple concepts of financial mathematics.

SPECIFIC COMPETENCES:



- Analyse, following professional criteria, the economic-financial problems derived from a given financial structure.

- Identify the main sources of financial information that help decision-making in order to select the relevant sources of financing.

- Evaluate and select the most appropriate sources of financing to achieve a financial structure in the company in accordance with its needs and competitive situation.

- Know how to estimate the cost of the company's main sources of financing.

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



TRANSVERSAL COMPETENCE:



Decision-making and problem-solving (Level 1 proficiency will be required in this competence):

- Recognises the problem to be solved with the help of the teacher and understands the explanations provided by the latter about its causes, the factors that determine it and the possible consequences if it is not solved.

- Gathers the necessary information from the sources indicated by the teacher.

- Analyses the advantages and disadvantages of the alternative solutions to the problem proposed by the teacher.

- Chooses a course of action among the different possible alternatives based on guidelines and criteria provided by the teaching staff.

- Designs a proposal for the implementation and evaluation of the solution advised by the teaching staff.

Agenda

Topic 1.- The financial structure of the company.

Topic 2.- The sources of business financing

Topic 3.- Own financing

Topic 4.- Short-term loans

Topic 5.- The credit policy

Topic 6.- Commercial discounting and financial discounting.

Topic 7.- Factoring and forfaiting

Topic 8.- Purchase financing

Topic 9.- Long-term loans

Topic 10.- Leasing

Topic 11.- Promissory notes and debentures

Topic 12.- Weighted average cost of capital

On the one hand, a theoretical-practical teaching methodology is proposed. Specifically, after the presentation of the basic concepts, and the tools and techniques necessary to achieve the learning objectives proposed in this subject, for each of the subjects of the course, examples and practical exercises will be presented and solved, both by the teaching staff and by the students, showing their real application in organisations. In addition, as the content of this subject progresses, in the different classroom practices, seminars and computer practices, students will have to carry out a series of exercises, participate in class dynamics arising from theoretical-practical topics related to the subject and, both face-to-face and non-face-to-face, students will assume the role of the financial director of a company and will try to solve a real problem and different questions of a financial nature posed in a teaching case created ad-hoc for learning in competences and objectives of this subject.

Teaching will be face-to-face or bimodal, but if for health reasons it is not possible or it is not possible to be present in the classroom, an exclusively online type of teaching will be adopted.

• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 35
  • Multiple-Choice Test (%): 35
  • Individual works (%): 10
  • Team projects (problem solving, project design)) (%): 20

There are two evaluation modalities: a) Mixed and b) Final.

a) The mixed assessment system will consist of two parts:

- Continuous assessment (3 points): The activities will combine individual and group tasks, face-to-face and non-face, and conceptual tasks versus other tasks of application to business situations. At the beginning of the term, the activities and the dates of completion and delivery will be detailed. A minimum of 1.5 points will be required to pass the continuous assessment tasks.



- Final exam (7 points): The theoretical and practical knowledge acquired will be assessed. The first part of the exam will consist of an eliminatory test (3.5 points), where a minimum mark of 1.4 points will be required to pass this part (a mark lower than 1.4 will mean that the second part of the exam will not be corrected). In the second part of the exam there will be several exercises which will be developed in writing. In order to pass the whole of the final exam (test and written exercises), a minimum of 3.5 points will be required.



The final mark for the course will be the sum of the continuous assessment mark and the final exam, provided that a minimum mark of 3.5 points is obtained in the exam, otherwise the exam mark will be maintained.



In order to pass the course, it will be necessary to have passed each of the two parts that make up the assessment systems of the course, i.e. continuous assessment and final exam.



Students may waive the mixed assessment system and opt for the final assessment. To do so, they must submit in writing (by means of a document available on the Centre's website) to the responsible teaching staff their waiver of continuous assessment, within a period of 9 weeks from the starting date of the course, in accordance with the centre's academic calendar.



b) The final assessment system will consist of two parts:



- The final exam (7 points), with the characteristics established above in the mixed assessment system.



- The completion, submission and individual defence before the teacher of the activities aimed at assessing the competences developed throughout the continuous assessment (3 points). This delivery and defence must not take place after the official date established for the final exam and will be carried out on the day and time agreed with the lecturer, after prior contact with the same. In order to pass these additional tasks, a minimum of 1.5 points will be required.



In order to pass the course, it will be necessary to have passed each of the two parts that make up the assessment systems of the course, i.e. continuous assessment tasks and final exam.



The final mark for the course will be the sum of the marks for the continuous assessment tasks and the final exam, provided that a minimum mark of 3.5 points is obtained in the exam, otherwise the exam mark will be maintained.



Students who do not take the final exam, regardless of whether they are in the mixed assessment system or in the final assessment system, will be considered as not having taken the final exam.



If it is found that any of the tests submitted has been copied or plagiarised, either totally or partially, the grade for the subject will be a fail for that session.



In both the mixed assessment system and the final assessment system, the test-examination will take place in person. However, if on the official date of the ordinary exam the on-site academic activity at the UPV/EHU is suspended, the aforementioned test-exam will be held virtually. In this case, details of the exam will be communicated via the eGela platform prior to the official exam date.

In the extraordinary call, those who do not wish to keep the mark derived from the group work framed within the continuous assessment, will have the right to be assessed by means of a final exam consisting of a final exam (see conditions in the ordinary call) and, solve, deliver and defend individually the questions posed in the teaching case, demonstrating the overcoming of both the specific competences and the transversal competence.



Those students who have followed the mixed assessment system in the ordinary exam and wish to keep the mark obtained in the continuous assessment activities, the mark obtained in the continuous assessment will be maintained (maximum score 3 points). These students will have to take a final exam similar to the one detailed for the first sitting (maximum 7 points).



The final mark for the course will be the sum of the mark for the activities included in the continuous assessment and the final exam, provided that a minimum mark of 3.5 points is obtained in the exam, otherwise the exam mark will be maintained.



In order to pass the course, it will be necessary to have passed each of the two parts that make up the assessment systems of the course, i.e. continuous assessment tasks and final exam (see conditions in the ordinary exam).



Students who do not sit the final exam, regardless of whether they are in the mixed assessment system or in the final assessment system, will be considered to have failed.



If it is found that any of the tests submitted has been copied or plagiarised, either totally or partially, the grade for the subject will be a fail for that session.



The test-exam will take place in person. However, if on the official date of the ordinary exam the on-site academic activity at the UPV/EHU is suspended, the aforementioned test-exam will be held virtually. In this case, details of the exam will be communicated via the eGela platform prior to the official exam date.

LEÓN DELGADO, P. (2021): Financiación empresarial. Pirámide, Madrid

Basic bibliography

LEÓN DELGADO, P. (2021): Financiación empresarial. Pirámide, Madrid

In-depth bibliography

ARGIBAY, M. (2004): Productos y servicios en Banca, Ed. Ideaspropias, Vigo.
BLANCO, E. (2003): La TAE y la tasa financiero-fiscal de las operaciones financieras, Ed. Editorial Club Universitario, Alicante
INSTITUTO SUPERIOR DE TÉCNICAS Y PRÁCTICAS BANCARIAS (ISTPB) (1980-2004): Agenda bancaria y de costes financieros. ISTPB, S. L., Madrid, TOMO I, Parte OA, capts. 0, 1, 2, 3, 4, 5, 12, 13, 15, 16 y 17.
MASCAREÑAS, J. (2010). Finanzas para directivos, Pearson, Madrid.
MENEU, V.; JORDA, M. P. y BARREIRA, M. T. (1994): Operaciones financieras en el mercado español. Ariel, Barcelona, capts. 2, 3, 8, 9, 10, 11, 12 y 13.
VAN HORNE, J. y WACHOWICZ, J. (2002). Fundamentos de la Administración Financiera (11 ed.). Pearson, México.

BREALEY, R. eta MYERS, S. (1998): Fundamentos de financiación empresarial. McGraw-Hill, Madrid
DOMINGUEZ, J.A.; DURBAN, S. eta MARTIN, E. (1990): El subsistema de inversión y financiación en la empresa. Problemas y fundamentos teóricos. Pirámide, Madrid
FERRUZ, L. eta SARTO, J.L. (1995): Casos resueltos de dirección financiera con Lotus y Excel. Gestión 2000, Barcelona
GARCIA-GUTIERREZ, C.; MASCAREÑAS, J. eta PEREZ, E. (1998): Casos prácticos de inversión y financiación en la empresa. Pirámide, Madrid
MADRID, M. F. eta LOPEZ, J.A. (1993): Supuestos de economía de la empresa. Pirámide, Madrid
MARTIN, M. eta MARTINEZ, P. (2000): Casos prácticos de dirección financiera. Pirámide, Madrid
ONU (2015). 17 objetivos para transformar nuestro mundo. Accesible el 13/07/2020 en https://www.un.org/sustainabledevelopment/es/objetivos-de-desarrollo-sostenible/
PEREZ-CARBALLO, A; PEREZ-CARBALLO, J. eta VELA, E. (1997): Principios de Gestión financiera de la empresa. Alianza, Madrid
PEREZ, E. (1998): Prácticas de administración de empresas. Pirámide, Madrid

Journals

To be determined by the lecturer in charge of this course.

Web addresses

To be determined by the lecturer in charge of this course.