FIN 394

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FINANCE 394.4 – Financial Management of the Small Firm
Course Outline –Spring Semester, 2011
TTH 8:00-9:30; 9:30-11:00 – UTC 1.104 (Unique #03190, #03195) TTH 12:30-2:00 – GSB 3.106 (Unique #03200)

Office Hours: TTH 11:00 – 12:15; 2:00-3:00Professor: Jim Nolen
& by appointmentOffice: GSB 4.126G
Phone: 471-5798, Fax 471-5073
TAs – Devang Gardi (8:00); Vivek Ponnada (9:30)
Peter Song (12 :30)e-mail: [email protected] Office Hours – By AppointmentCourse Material Posted on Blackboard

Required Course Material

The Finance 394.4 Small Business Finance course packet can be purchased at Speedway Printing in Dobie Mall at 21st and Guadalupe. Due to royalties for the cases, the course packet is expensive and the copy shop does not accept returns. Make sure you intend to stay in the class before you purchase the course packet.

Optional Reference Textbooks
1. Valuing A Business: The Analysis and Appraisal of Closely Held Companies by Shannon Pratt, 5th Edition, McGraw Hill 2. Your BA 385T core class textbook, such as Corporate Finance, 8th or 9th Edition by Ross, Westerfield, and Jaffe (McGraw-Hill Irwin); or Fundamentals of Corporate Finance or Principles of Corporate Finance by Brealey & Meyers. 3. Adelman, Philip J. and Marks, Alan M., Entrepreneurial Finance – Finance for Small Business, Second Edition, Prentice Hall.

This course is part of the Entrepreneurship specialization that includes Opportunity Identification, Gathering Resources & Launch, Entrepreneurial Growth, Financial Management of the Small Firm (formerly called Entrepreneurial Finance, Harvest and Negotiations) and the capstone course, Entrepreneurial Management. This class is quite quantitative and a solid finance/accounting background is helpful. Fin 286 Valuation is a prerequisite to the course. If you do not have a strong finance/accounting background, make sure you get in a study group with someone who does have this strong financial background. This course is very demanding from both the amount of reading required and the number of cases discussed during the semester.

In a case course, much of the learning occurs in preparing for the case, which often requires three to six hours of readings and preparation, including discussions within your study group. The case method is student-centered rather than instructor-centered. In the classroom, the students will drive a rigorous discussion of each case by identifying the problems and issues faced by the managers and formulating alternatives for solution backed by case facts and assumptions. In addition to preparing for cases, there are substantial reading assignments, especially in the early part of the course.

The class will set its own standards through friendly competition. The student with the highest weighted average ranking will receive the highest grade and then the remaining students are ranked from this top position. A forced curve is used in this class with approximately:

A   15%
B- or below 10% (includes B-, C+, and C)

C-‘s, D’s and F’s will be awarded where deserved. Natural breaks in the distribution will be used to determine the final grade distribution. No student is allowed to take the course on a pass/fail basis.

Your T.A. will record the class discussion and you will be graded on the quantity and, more importantly, the quality of your discussion of each case. Cold calls will be used for openings, summaries (closings) and during the class discussion. Openings and summaries will have a disproportionate weight on your class participation grade. Since there are more students in the class than cases, not everyone will be able to open or close a case and therefore, it is incumbent on you to raise your hand and participate fully in each case. Study group members will be expected to be...
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