Management Degree Program in China - Financial Management

 1. Introduction

2. Main Content

(1) basic theory:

Capital structure theory

Modern asset portfolio theory and capital asset pricing model (CAPM)

Option pricing theory

efficient market hypothesis

Agency theory

(2) financial planning

Set goals; set up tangible indicators; measure and adjust targets and indicators.

(3) cost and expense

Cost items: manufacturing cost, period expense (including management expenses, financial expenses and selling expenses)

The main content of cost management: cost forecast, cost decision, cost planning, cost accounting, cost control, cost assessment, cost analysis

3. Management Objectives

Maximization of output value

Maximization of profit

Maximization of shareholder wealth

 Maximization of enterprise value

 Maximization of stakeholder interests

4. Cycles

Financial control and financial budget are closely related, the budget is an important basis for control, control is the means to implement the budget, they constitute the enterprise financial management cycle.

The main aspects of the financial management cycle include:

(1) making financial decisions

(2) to set budgets and standards

(3) record the actual data

(4) calculate the required standard

(5) comparison of standards and practice

(6) difference analysis and investigation

(7) take action

(8) evaluation and assessment

(9) incentive

(10) forecast

5. Basic Principles

Risk return tradeoff

Time value of money

The measure of the value is to consider cash rather than profit.

Incremental cash flow

There is no particularly high profit project in the competitive market.

Effective capital market

Agency problem

Tax impact on business decisions

Risk is divided into different categories

Moral behavior is to do the right thing, but in the financial industry, there is a moral confusion

6. Notes

The budget in advance is ineffective, and afterwards analysis is not in place

The degree of information is not high, lack of financial innovation

Financial structure is not perfect; the establishment of organizations and institutions is unreasonable

Internal control system is not perfect, lack of risk management awareness

Cost management is not standardized; asset management is scattered

Extensive cost accounting, cost control is not strict

7. Preventive Measures

1). the establishment of the financial crisis early warning system.

2). the establishment of financial risk awareness.

3). the establishment of enterprise internal supervision system.

4). the establishment of internal control system.

8. Training Requirements

Financial management is to cultivate senior specialized talents in business administration equipped with the knowledge and ability in management, economic, law, financing and finance, can engage in the industry and commerce, financial enterprises and government departments for finance, financial management, as well as teaching and research work. The students mainly study basic theory and basic knowledge of finance, financial management, receive the basic training in finance, financial management methods and techniques, with the basic ability of analyzing and solving financial problems.

9. Main Courses

Financial management, tax law, tax accounting and tax planning, electronic commerce introduction, project evaluation, asset appraisal, capital operation, intermediate and advanced financing, investment.

10. Knowledge and Ability

1) Master the basic theories and knowledge of management, economics and finance;

2) Master the qualitative and quantitative analysis methods of finance, financial management;

3) With strong ability in language and word expression, interpersonal communication, information access and the basic ability in analyzing and solving the actual problems of finance, financial management;

4) Familiar with the relevant financial and financial management regulations;

5) Understand the theoretical front and development trends of the subject;

6) Master the basic methods of document retrieval and data query, and have certain ability in scientific research and practical work.

11. Practice Teaching

Including computer simulation, teaching practice, the general arrangement is for 10-12 weeks

12. Employment Prospects

Accounting, cashier, AP accountant, AR accountant, general ledger accountant, financial assistant, financial manager, budget commissioner, cost accountant, FP & A financial analysis, risk control supervisor, director of internal audit, finance director, supervisor of funds, tax supervisor, audit manager, statistical supervisor, financial analysis manager, financial planning manager.