Corporate Financial Management (CFM)

Topic Outline: • Objectives of Firms • Financial Management Decisions, Finance Functions in Corporate Organizations, Roles Of A Finance Manager. • The Social Environment of Firm And Corporate Social Responsibility. • Agency Relationship and Corporate Governance Principles.

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Topic Outline: • Concept of Time Value Of Money • Compounding and Discounting Methods • Annuities and Perpetuities And Their Applications In Solving Investment And Financing Decision Problem. • Determining Effective Rates of Interest, Sinking, Funds, Amortization, Leasing Etc.

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Topic Outline: • Source of Short, Medium, And Long-Term Finance. • Lease Financing, Merit and Demerits • Condition Under Which A Company Will Prefer to Lease Equipment Rather Than Obtain A Direct Loan to Purchase the Equipment • Circumstances A Manager Would Suggest Possible Use of Factoring to His Business Customer Rather Than Granting Further Credit for His Working Capital Need.

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Topic Outline: • Financial Market: Money Market and Capital Market • Money Market: Characteristics, Instruments, Participants, Functions and Cost of Money Market Instruments • Capital Market: Characteristics, Instruments, Participants, Functions, Principal Institutions in The Capital Market and Their Roles. • Methods of Gaining Quotation, Advantages and Disadvantages. • Capital Market Efficiency: Meaning, Forms of Capital Market Efficiency and Theories or Efficient Market Hypothesis.

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Topic Outlines - Investment Appraisal Conditions • Condition of Certainty • Condition of Uncertainty • Condition of Risk - Types of Investment • Financial Assets (Equity, Preferred Stock Etc) • Real Assets (Freehold and Lease Hold) - Techniques of Investment Appraisal • PBP, ARR, NPV, IRR and PI - Method of Dealing with Risk In Investment Appraisal Under Condition Of Risk And Uncertainty: Expected Value Methods, Variance Method, Certainty Equivalent Etc.

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Topic Outline: • Concept • Cost of Equity • Cost of Preference Share • Cost of Debenture • Weight Average Cost of Capital (WACC) • Marginal Cost of Capital (MCC)

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Topic Outline • Financial Statement Components • Uses and Uses Of Financial Statement • Major Tool of Ratio Of Financial Analysis • Advantages of Ratio And Limitation Of Ratio Analysis

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Topic Outline • Concept of Portfolio And Portfolio Management • Diversification Technique • Capital Asset Pricing Model (CAPM) • Measurement of Portfolio Returns And Risk: Two Assets And Three Assets Portfolio • Capital Line, Security Lines and Market Line

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Topic Outline: • Concepts • Capital Structure Theories • Determinant Of Capital Structure • Optimal Capital Structure Of Corporate Entities • The Concept Of Leverage • Types Of Leverage – Operating Financial & Combined • EBIT/EPS (Earnings Before Interest And Tax/Earnings Per Share) Analysis. • Arbitrage Theory/ Investment Switching.

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TOPIC OUTLINE: • The Concept And Determinant Of Working Capitals. • Basis Of Working Capital Requirement • Working Capital Cycle/Cash Operating Cycles. • Cash Management (Cash Budgeting) • Credit Policy And Management Of Debtors • Inventory Management.

• 2 Multimedia

TOPIC OUTLINE • Types And Implication Of Dividend Policy • Determinant Of Dividend Policy • Dividend Theories: Dividend Relevance Dividend Irrelevance • Dividend Pay-Out Practices Of Corporate Entities In Nigeria

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Topic Outline: A. Business Valuation: - Business Valuation Models • Net Assets Models • Income Models B. Re-Engineering: - Business Combinations; • Merger, Acquisitions, Takeover Leverage Buyouts, Management Buyout. • Tender Offer And Defensive Tactics

• 2 Multimedia