Monday, July 11, 2011

How to Prepare for a Major Exam

An Instructional Essay

“A Letter to My Nephew – How to Prepare for a Major Exam”


To all my fellow Uncles,

and to all the Parents, Grandparents, Aunts, and Guardians out there,

please know that I also wrote this for your Children

– on behalf of You.


My Dearest Miguel,

Congratulations on your recent graduation from Mapua, and on your recent completion of your Cisco training. I am very proud of you, and I praise and thank God for your achievements.

Now that you are preparing for the board exam, I decided to write this article especially for you.

When the time comes for Mariz to take her own board exam, and when Luiz is old enough to take his own board and/or bar exam, please encourage them the way I am encouraging you now. (My Dearest Mariz and Luiz, This is of course also for you.)

Your Mama, Papa, Kid Sister (Mariz), Baby Brother (Luiz), Grandma (“Mommy”), and I love you very much. We pray for your success as regards your forthcoming board exam, and we will always pray for you as regards everything else in life.

God bless you always,

Tito Jun

Manila, July 7, 2011


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HOW TO PREPARE FOR A MAJOR EXAM


Rule No. 1 – Study one page at a time, solve exercises one paper at a time.

That is really all that you can do.

· There is no point in worrying about how well you will do with the exam. Worrying about it will not accomplish anything.

· All you can do now is to perform the simplest nature of your work, which is to read your review materials one page at a time, and to solve practice tests or solve exercises one paper at a time. Think of it this way, if you were a runner, then all you should be focusing on is “just putting one foot in front of the other.” Similarly therefore, “just study one page at a time, and solve exercises one paper at a time.” That’s all, no need to think about anything else.

· And remember that quality matters more than quantity. There is no point in having lots of books or review materials (to give yourself a false sense of security) if you cannot actually review all of them. Just choose the right amount of books and review materials that will really help you, and stick to them.


Rule No. 2 – Just focus on what you are doing, do not look around too much.

Do not worry about things beyond your control, and ignore the things around you that are not relevant to your review.

· If you have family, friends, or even former classmates who have already taken and passed the board exam, don’t let their achievements intimidate and pressure you.

· If you are attending a review school where you have classmates who came from other colleges or universities, and if these classmates seem brighter, faster, and better prepared, and the colleges or universities they came from seem more prestigious than your own, then just tell yourself,

- “Okay, fine, they seem brighter, and they come from schools that are apparently more prestigious, but they have absolutely nothing to do with me and my own performance. Therefore I will just ignore them and I will keep doing what I am doing, focusing on my own review, according to my own style, according to my own pace, and according to my own personal best.”

· Don’t keep looking around to see where you “stand in the race.” Don’t keep checking whether you are ahead, at par, or behind. (And this doesn’t only apply to the work of studying and preparing for a major exam, it also applies to life and career in general.)


Rule No. 3 – Study according to your own learning style.

Do what works for you, and be prepared to accept partial understanding while in the classroom.

· If you are reviewing for a board or bar exam, it means that you already have a level of intelligence and a style of learning that is adequate, simply because it was enough to enable you to finish college (or medical school or law school). Therefore it is best that you continue to remain confident about your capabilities.

· If for some reasons the teaching style at your review school is something that you are not used to, or is something that is not working entirely for you, then while you are in class be prepared to accept partial understanding. Just review by yourself at home, it’s as simple as that.


Rule no. 4 – Do plenty of seatworks and homeworks, and take plenty of practice tests.

The exercise of taking tests is a skill by itself. It is not enough to possess knowledge, you must also be conditioned to take tests.

· Therefore apart from reading books and reviewing materials, you must also practice taking tests by frequently solving problems and exercises, preferably under time pressure. Remember, “Practice makes perfect.”

· There will be good days and there will be bad days. Good days are the days you feel sharp and energetic, and you get good results from your practice tests. Bad days are the days that you feel dull and tired, and the results of your practice tests are not so great. It’s okay to have bad days, that’s normal. If you are the kind of person who has finished college, then most likely you are the kind of person whose good days significantly outnumber the bad, therefore you will be fine and you have nothing to worry about.


Rule No. 5 – Keep in mind, this is a marathon, not a sprint.

Therefore you need to sustain your energy, enthusiasm, and performance for a long period – which in your case is five months, because that is the length of your review.

· Eat properly, try to get some exercise, and enjoy your family and friends.

· Try not to overwork yourself from the very beginning. Just like in running a marathon, you don’t run too fast at the start, because you will immediately get exhausted and not anymore have any energy towards the end.

- In his recent advertisement for Hewlett Packard, Manny Pacquiao stated that he trains most intensively for the last eight weeks, right before his fight. I suggest you do the same. Please see

http://www.youtube.com/watch?v=Ycv6ZGAMAf0&NR=1 or

http://www.youtube.com/watch?v=TeTfuulqKQA.

- (Note: I'm not exactly a fan of boxing, but if the foregoing youtube videos will help get the message across, then I have no problem using them.)

· I’m not saying that you should relax and take it too easy for the first three months of your review and then work hard only during the last two months. You should do your best from the very start and all throughout. But be careful not to burn out and lose energy towards the end of your review up to the days of the board exam themselves, because that is when your performance will matter the most.


Rule No. 6 – In case you also happen to be working, then believe that it can still work out.

Someday, you might take another major exam, and by then you may already be working. Pertinently, if you happen to be working while you are also reviewing for a board or a bar exam, don’t think of it as a hindrance.

· Keep in mind that a lot of people finish college (as well as medical school or law school or graduate school), and they eventually pass their respective board exams (or their bar exams or comprehensive exams) by attending school only in the evening because they have to work and make a living during the day. Therefore, if they can do it, then you can do it. It is not impossible.

· Accept the fact that you need to work to make a living, in fact be glad that you have work and are able to make a living. Then just do your best with your review. It’s really as simple as that.


Rule No. 7 – On the last couple of days before the exam, just relax.

Try to get some rest the last couple of days before the exam.

· It may be difficult to stay away from your books and completely stop reviewing, but at least try to be more relaxed. Five months of review, the last eight weeks being more intensive (the way Manny Pacquiao does it), will be adequate. On the last couple of days right before the day of the exam itself, try to relax. Get some rest, watch a movie, eat well.

· The day before the exam, be sure to prepare your exam permits, be ready with your pens and calculators or whatever other materials you will need, be ready with money and/or food you will have to bring, and be sure to know where you will be taking your test and how you will get there (n.b., indeed it is better if you visit the place several days in advance).

· You may hear about tips or leaks about the exam. Ignore them. They will only cause anxiety and confusion. If you have responsibly done your best during the several months of review, then that is already more than enough and you’ll be fine.


Rule No. 8 – On the day of the exam itself, again, just relax, and focus.

When the day of the exam finally arrives, just try to relax.

· If you get a bit nervous, that’s okay, it’s normal.

- Miguel, You can talk to you Papa or Mama or Grandma or me in case any concern bothers you. And on the days of your board exam, you can count on us to pray for you, even offer Holy Mass at church and light candles at home for you. And if you want, your Papa or I can even accompany you to the place where you will take your exam, and we will standby there the whole day, so that we are there any time you need us. Okay?

· Inside the classroom where you will actually finally take the exam, don’t be surprised if you see some bizarre behavior on the part of your fellow examinees. Some of them may talk too much, some will be too optimistic, some will be pessimistic, and some will do something simply unusual (like doing yoga in the middle of the classroom in order to reduce their anxiety). Just accept and respect them for who they are, be friendly and civil, but remain personally detached (let’s face it, you hardly know these people and you may never meet them again after the board exam), and most importantly just focus on doing your best with your exam.

· If you finish ahead of time, stay and review your work. There is no point in being the first to stand up and hand in your paper for all to see, just to show how much faster and smarter you are. That’s just silly, and in fact is not a smart move at all. Stay in your seat and review your work. More often than not, you will find a mistake among your answers and you will therefore have the chance to correct it.


Rule No. 9 – Do not worry about the results of the exam.

I pray that you pass your board exam, and I believe that you will. With the kind of abilities, self-discipline, academic training, and upbringing that you have had, I am confident that you will pass any major exam that you take.

· However, if for some reasons, you do not pass a particular major exam, then no problem, just rest a while and then take it again. (Or if you never want to take it again because you would rather do something else, then that is fine too). Don’t let it discourage you, don’t let it cause you to believe less in yourself and make you doubt your potential. It’s just an exam, and one single exam cannot define you.

· Notice that I entitled this article “How to Prepare for a Major Exam” and not “How to Pass a Major Exam.” Sometimes things happen that are beyond your control, for instance you may unexpectedly get sick on the day of the exam, therefore despite months of diligent preparation you may end up performing not as well as you hoped to (i.e., still passing the exam but not attaining that high grade you aimed for), or perhaps end up actually failing the exam. If that happens it would be natural to feel sad, but you shouldn’t let that leave a permanent scar on your self esteem. You as a person are still far more important than any exam.

- Most of all, your Mama, Papa, Sister, Brother, Grandma, and I will always love you very much no matter how you perform in any exam, whether it pertains to this forthcoming board exam, or to any other exam or challenge that you may have to hurdle in the course of your life.


Rule No. 10 – Pray

Most of all, pray. Always pray.

· Pray often, to seek and receive help from God. Meditate, to remain calm and focused.

- I suggest praying the Holy Rosary. Miguel, Do you remember the Rosary I gave you last November 2010 as one of my pasalubongs (presents) for you after Mommy and I returned from the Holy Land? Why don’t you start using it now? Up to this day, whenever I pray the Rosary, I use the Rosary that Mommy gave me more than twenty years ago (after I finished college). You might want to start doing the same with the Rosary I gave you.”

· The saying goes, “Do your best, and let God do the rest.” This saying holds true. And it will always hold true, not only with regard to your board exam, but also with regard to everything else in your life.



For I know well the plans I have in mind for you, says the Lord,

plans for your welfare, not for woe!

plans to give you a future full of hope.

When you call me, when you go to pray to me, I will listen to you.

Yes, when you seek me with all your heart,

you will find me with you, says the Lord.

Jeremiah 29 : 11-14




Take delight in the Lord,

and He will grant you your heart’s requests.

Psalm 37: 4



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REFERENCES:



· RECOMMENDED VIDEOS

Miguel, Please view these videos if you can spare the time.

- Identity and Stereotype Threat, Lecture at Columbia University by Dr. Claude M. Steele, http://www.youtube.com/watch?v=q1fzIuuXlkk

This video is relevant to my advice on not letting the abilities and backgrounds of other people affect or intimidate you (see Rule No. 2).


- Anxious Students Gain on Tests by Writing About Fears, ( Based on Dr. Sian Beilock’s research on “Choking,” http://www.youtube.com/watch?v=hjyC2m7k4MI

This video teaches you the anxiety-reducing technique of writing about your worries, so that you don’t choke or under-perform on the day of your board exam (see Rule No. 8).



· BOOKS

Miguel, You don’t have to read these books (someday perhaps, but not now). I have already read them myself, and everything I wrote in “How to Prepare for a Major Exam” is based on what I learned from them, apart from what I have learned from my own experience.

- Study Smart (The Princeton Review) by Theodore Silver, M.D., J.D.

- The Psychology of Learning Mathematics by Richard R. Skemp, PhD

- Overachievement: The New Model for Exceptional Performance by John Eliot, Ph.D.

- Choke: What the Secrets of the Brain Reveal About Getting It Right When You Have To by Sian Beilock, Ph.D.

- Overcoming Procrastination: Or How To Think And Act Rationally In Spite of Life’s Inevitable Hassles by Albert Ellis, Ph.D., and William J. Knaus, Ed.D.

- Feeling Good: The New Mood Therapy by David D. Burns, M.D.

- Stress/Unstress: How You Can Control Stress At Home And On The Job by Keith W. Sehnert, M.D.





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Tuesday, April 26, 2011

A Comparative Assessment of Graduate Education in Financial Management


As a follow-up to “Book Reviews 2,” I am posting herein an abridged version of a paper that I once wrote for a PhD course in Curriculum Engineering. I hope that my readers will enjoy it as well, or at least benefit from it.
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A COMPARATIVE ASSESSMENT OF GRADUATE EDUCATION IN FINANCIAL MANAGEMENT IN SELECTED LEADING BUSINESS SCHOOLS IN THE PHILIPPINES AND THE USA
By Francisco C. de la Cruz Jr.
April 27, 2011
============================
Outline of Topics
(“Table of Contents” in Original Paper)
1. Executive Summary
2. Research Procedure
3. Old Syllabi
3.1. Managerial Accounting
3.2. Financial Management
4. New Syllabi
4.1. Managerial Accounting
4.2. Financial Management
============================
EXECUTIVE SUMMARY
I undertook this research for the benefit of my Master in Management, Master in Business Administration, and Master in Educational Leadership and Management students, i.e., former, current, and future students. (Come to think of it, it is for the benefit of my future DBA and PhD students as well.) The Finance Curriculum discussed herein entail two courses that are normally taken consecutively in a typical graduate management program: Managerial Accounting and Financial Management. The time-frame is the trimestral system.
Simply put, I studied the Finance curricula of some of the best business schools in the Philippines and in the United States, and then I revised the syllabi I have normally used for the MBA-Finance Curriculum I have often taught, in an attempt to make it at par with the best. I employed the techniques of vertical integration, horizontal integration, and benchmarking.
Apart from the revised syllabi as aforementioned, another outcome of this paper is the finding that there are certain Finance topics that consistently qualify as core Finance topics among the best business schools. On the other hand, there are also certain finance topics that MBA students often hope to learn from a typical MBA program, but which are actually normally considered by MBA professors as non-core special topics and are therefore usually only taught in elective courses. This knowledge can be of significant help and comfort to any Finance professor, because it enables him to reconcile his understanding of what he should teach vis-Ć -vis what his students expect to learn in a typical MBA Finance course. Finance is a vast universe, and MBA students being the adult students that they are can be very demanding and capricious, thus standard parameters are a Finance professor’s best friend.
============================
PROCEDURE
I worked on the revision by undertaking the following:

Vertical Integration

I reviewed the syllabi which I originally designed and currently use in teaching Managerial Accounting and Financial Management (presented here below) and redesigned them to ensure the clear relationship and upward continuity between the two courses.

Horizontal Integration

I emphasized the relationship of Financial Management with the other functions of management, namely: General Management, Operations Management, Marketing Research and Management, Human Resources Management, and Information Technology Management. I did this by making a Corporate Strategy for a Business Organization with Competitive Financial Analysis as the Primary Basis as the chief requirement for both courses. A corporate strategy for an existing business is required for Managerial Accounting, while a corporate strategy for a new business is required for Financial Management. They are discussed in the syllabi for both courses at Week 1.
The basic framework for the said Corporate Strategy is as follows:
Framework of Business and Educational
Leadership and Management
General Management
· Leadership and Management
· Vision and Mission
· Setting of Objectives and Goals
· Formulation of Strategy and Specific Tactics
Operations
· Manufacturing or Trading Activities
· Equipment and Plant Maintenance

In the Case of Educational Institutions
· Curriculum Design
· Teaching
· Research
· Cultural and Historical Preservation
· Academic Services
· Outreach Programs
Finance
· Investment Management
· Budget Management
· Cashflow Management (Collections and Disbursements)
· Payroll and Benefits Administration
· Record Keeping
· Financial Reports Preparation and Analysis
· Ad Hoc Financial and Business Analysis
Marketing
· Marketing Research
· Promotion and Advertising
· Client Development and Customer Service

In the Case of Educational Institutions
· Alumni Relations
· External Relations – Local
· External Relations – International
· Events Management and Promotions
Information and Communications Technology
· Computer Software and Hardware
· System Analysis and Design
Human Resources Management
· Organizational Development
· Culture Development
· Hiring Policies and Systems
· Performance Evaluation and Reward System



Benchmarking

This is the most important step in the process, albeit actually very simple and basic. I simply studied the Finance curriculum of the MBA, DBA, and similar programs of some of the best business schools in the Philippines and the United States, as listed here below. The curricula were available for viewing in the websites of the pertinent business schools. I then selected the best features or best practices in these curricula and used them as basis for revising the Old Syllabi in order to produce the New Syllabi.
The Finance Curricula I studied were as follows:
· Finance Curriculum of the Master of Business Administration Program of Harvard University
· Finance Curriculum of the Master of Business Administration Program of Yale University
· Finance Curriculum of the Master of Business Management Program and the Master in Management Program of the Asian Institute of Management
· Finance Curriculum of the Master of Business Administration Program of De La Salle University
· Finance Curriculum of the Master of Business Administration Program of the University of the Philippines
· Finance Curriculum of the Doctor of Business Administration Program of Harvard University
· Finance Curriculum of the Doctor of Business Administration Program of De La Salle University
· Pertinent Courses in the Master of Science in Computational Finance Program of De La Salle University
· Pertinent Courses in the Master of Science in Accountancy Program of De La Salle University
· Chartered Financial Analyst Program of the Association for Investment Management Research
· Asiaweek Interactive Edition – Research Survey on The Best MBA Programs in Asia
Note: The website containing information on the MBA Program of Ateneo de Manila University could not be accessed as of this writing.
Other Important References:
  • Earlier feedback from my current or former MBA-Finance students.
  • “W. SyCip Graduate School of Business of the Asian Institute of Management – Reinvented and Reinvigorated to Face Global Competition.” Main feature article in The Asian Manager (an AIM publication). Second semester 2001-2002.

Outcomes and Findings

The basic outcomes of this research are of course the new syllabi found on the last few pages herein. Meanwhile, the basic findings are as follows:
· The Finance Curriculum of selected leading business schools in the Philippines and the United States normally included certain core topics. Pertinently, I incorporated these core topics in the MBA Finance curriculum which I will be teaching in the future – precisely by way of the new syllabi on the last few pages of here below – to ensure that the said curriculum is at par with the best. Specifically, the core topics are incorporated as follows:
1. All throughout the new syllabus for Managerial Accounting
2. From Weeks 1 to 7 of the new syllabus for Financial Management
· Meanwhile, there are certain topics that are normally not in the core curriculum for Finance of the selected leading business schools, but are normally expected to be included in the core Finance curriculum by MBA students. One such topic is “how to play the stock market.” I form this opinion based on my experience with my AIM classmates, as well as my former MBA Students from DLSU, UST, UA&P and SBC.
However, instead of including these topics in their core Finance curriculum, the selected leading business schools deliver these topics by way of advanced elective courses. To therefore satisfy the interest of MBA students in these topics to at least some extent, I have included some of these topics in Weeks 8, 9, 10, and 11 of the new syllabus for Financial Management even if only at the introductory level.

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ORIGINAL SYLLABUS

(Course Contents Only)

Managerial Accounting

14 Weeks (One Trimester)

  1. Course Orientation// Lesson: The Single-Entry Bookkeeping System, The Double-Entry Bookkeeping System, The Balance Sheet, The Income Statement.// Discussion of Major Course Requirement: A Corporate Strategy for an Existing Business with Emphasis on Financial Analyses
  2. The Balance Sheet, The Income Statement, Cashflow Management, Basic Taxation
  3. Financial Ratios, Budget Planning & Performance Analysis, Strategic Cost Cutting
  4. First Filter Exam
  5. Job Order Cost System, Process Cost System
  6. Cost Behavior and Cost-Volume-Profit Analysis
  7. Budgeting
  8. Performance Evaluation for Decentralized Operations, Differential Analysis and Product Pricing
  9. Second Filter Exam
  10. Capital Budgeting – Time Value of Money: Simple and Compounded Interest, Future and Present Values.// Capital Budgeting – Basic Formulas, Net Present Value, Payback Period, Internal Rate of Return, Return on Investment
  11. General Review for Final Exams
  12. Written Final Exams
  13. Final Group Presentation and Defense – Group 1 & 2: A Corporate Strategy for an Existing Business with Emphasis on Financial Analyses.
  14. Final Group Presentation and Defense – Group 3 & 4: A Corporate Strategy for an Existing Business with Emphasis on Financial Analyses.

============================

ORIGINAL SYLLABUS

(Course Contents Only)

Financial Management

14 Weeks (One Trimester)

  1. Course Orientation.// Discussion of Major Course Requirement: A Corporate Strategy for an Existing Business with Emphasis on Competitive or Industry Financial Analyses
  2. Capital Budgeting – Time Value of Money: Simple and Compounded Interest, Future and Present Values
  3. Capital Budgeting – Time Value of Money: Simple and Compounded Interest, Future and Present Values
  4. Capital Budgeting – Basic Formulas: Net Present Value, Payback Period
  5. Capital Budgeting – Basic Formulas: Net Present Value, Payback Period
  6. Capital Budgeting – Basic Formulas: Internal Rate of Return, Return on Investment
  7. Capital Budgeting – Basic Formulas: (More on) Internal Rate of Return
  8. Mid-Term Exams
  9. Preliminary Group Presentation and Defense: A Corporate Strategy for an Existing Business with Emphasis on Competitive or Industry Financial Analyses
  10. Review of Managerial Accounting and Financial Management and/or Additional Topics in Corporate Finance
  11. Review of Managerial Accounting and Financial Management and/or Additional Topics in Corporate Finance
  12. Written Final Exams
  13. Final Group Presentation and Defense Group 1 & 2: A Corporate Strategy for an Existing Business with Emphasis on Competitive or Industry Financial Analyses
  14. Final Group Presentation and Defense Group 3 & 4: A Corporate Strategy for an Existing Business with Emphasis on Competitive or Industry Financial Analyses

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NEW SYLLABUS

(Complete Syllabus)
XYZ Graduate School of Business
Master in Business Administration Program
Syllabus
Course : Managerial Accounting
Schedule : Saturday/ n:00 – n:00 am/ January ? to April ? 2011
Course Credit : 3
Course Description – The course is designed to:
· Provide a generalist and basic understanding of Financial and Management Accounting.
· Relate Financial and Management Accounting to all the other functions of Management, namely: General Management, Operations, Marketing, Human Resources, and Information Technology.
Course Objectives – The course will train students to:
· Analyze and interpret Accounting information for decision making purposes.
· Apply various financial analytical tool and techniques in identifying and solving practical business problems.
Methodology and Approach
· Students will be encouraged to explore and speak up, and should not be afraid to ask “silly” questions. The course is intimidating enough as it is.
· The already-trained Accounting & Finance professionals in class will be trained further in terms of communicating Accounting & Financial information to non-Accounting/Finance colleagues.
· A great deal of reading and exercises will be required. Teamwork will also be strongly encouraged.

Week 1
Course Orientation
Diagnostics Test and Class Profiling
Discussion of Major Course Requirement: Group Thesis – “A Corporate Strategy for an Existing Business Organization with Competitive Financial Analysis as Primary Basis”.
Ƙ This is an Integrative Exercise in Finance vis-Ơ-vis General Management, Operations, Marketing, Human Resource Management, and Information Technology
Discussion of Corporate Strategy Framework

Week 2
Class to be divided into three or four groups for the Corporate Strategy.
Financial vis-a-vis Managerial Accounting
The Accounting and Audit Professions
Ethical and Professional Standards
The Single-Entry Bookkeeping System
The Double-Entry Bookkeeping System
The Books of Accounts
The “T” Accounts
Debit and Credit
Basic Accounts

Week 3
The Balance Sheet
Assets, Liabilities, Owners’ Equity
Submission of Profile of Company for Corporate Strategy, and of Outline of Corporate Strategy

Week 4
The Income Statement
Definition and Classification of Expenditures
Operating Revenue & Expenses vis-a-vis Other Revenue & Expenses
Classification of Operating Expenses
Fixed and Variable Costs
Income Statement for Manufacturing Concern
Basic Taxation

Week 5
Financial Ratios
- Current Ratio
- Working Capital Ratio
- Accounts Receivable Turn-over
- Inventory Turn-over
- Other Ratios

Week 6
Workshop - Decision Aid Softwares
Microsoft Excel (with emphasis on advanced formulas, e.g., Regression Analysis)
Cash Flow Management – To be demonstrated in the computer laboratory.
Corporate Cash Flow Management
Scenario Forecasting and Sensitivity Analysis
Bonus Topic: Individual/Personal Cash Flow Management

Week 7
Budget Planning and Performance Analysis
Comparative Analyses: Vertical, Horizontal, Trend
Variance Analysis
Strategic Cost Cutting: Specific Action Plan Matrix

Week 8
Mid-Term Exams

Week 9
Responsibility Accounting
Profit and Cost Centers
Contribution Margin Analysis
Break-Even Analysis

Week 10
Supplemental Topics
* Primer – Internal Audit, External Audit, and Internal Control
* Primer – Job Order Cost System vis-a-vis Process Cost System
* Primer – Activity Based Costing
* Primer – Economic Value Added Analysis

Week 11
Preliminary Presentation and Defense of Corporate Strategies
Submission of names and credentials of external panelists for CorpStrat Defense

Week 12
Written Final Exams

Week 13
Presentation and Defense of Corporate Strategies by Groups 1 & 2

Week 14
Presentation and Defense of Corporate Strategies by Groups 3 & 4
Course Requirements and Grading System:
· Written Exercises, Quizzes, Oral Recitation, Academic Participation in Group Website
· Coursework Portfolio
· Midterm Exam
· Final Exam
· Group Thesis
Textbook:
· Financial and Managerial Accounting (The Basis for Business Decisions), Twelfth Edition (International Edition), by Williams, Haka, Bettner, and Meigs. McGraw Hill Publication.
References:
· Group Thesis on Corporate Strategies by prior MBA-Finance batches.
· Financial and Managerial Accounting by Carl S. Warren
· Intermediate Accounting, by Smith, Skousen, and Kimwell, latest Philippine printed edition
· Financial Accounting by Meigs & Meigs
· Managerial Accounting by Ronald W. Hilton
· Cost Accounting, A Managerial Emphasis by Charles Horngren, Latest Edition
· Accounting Text and Cases by Robert N. Anthony and James S. Reece, Latest Edition

============================

NEW SYLLABUS
(Complete Syllabus)
XYZ Graduate School of Business
Master in Business Administration Program
Syllabus
Course : Financial Management
Schedule : Saturday/ n:00 – n:00 am/ January ? to April ? 2011
Course Credit : 3
Prerequisite : Managerial Accounting
Course Description – The course is designed to:
· Provide a generalist and basic understanding of Financial Management.
· Relate Financial Management to all the other functions of Management, namely: General Management, Operations, Marketing, Human Resources, and Information Technology.
Course Objectives – The course will train students to:
· Analyze and interpret Financial information for decision making purposes.
· Apply various financial analytical tool and techniques in identifying and solving practical business problems.
Methodology and Approach
· Students will be encouraged to explore and speak up, and should not be afraid to ask “silly” questions. The course is intimidating enough as it is.
· The already-trained Accounting & Finance professionals in class will be trained further in terms of communicating Accounting & Financial information to non-Accounting/Finance colleagues.
· A great deal of reading and exercises will be required. Teamwork will also be strongly encouraged.

Week 1
Course Orientation
Diagnostics Test and Class Profiling
Discussion of Major Course Requirement: Group Thesis – “A Corporate Strategy for a New Business with Emphasis on Financial Analyses.”
Ƙ This is an Integrative Exercise in Finance vis-Ơ-vis General Management, Operations, Marketing, Human Resource Management, and Information Technology
Ƙ Note: Financial Analysis includes - Projected Financial Statements, Cash Flow Management, Budget Planning using Comparative Analyses, Financial Ratios, Break-Even Analysis, and Capital Budgeting. Additional tools: Specific Action Plan Matrix, and Gantt Chart.

Week 2
Review of Managerial Accounting
The Role of the Finance Manager
The Role of the Chief Finance Officer
Ethical and Professional Standards
MBA Career Opportunities: Corporate Practice, Entrepreneurship, Management Consultancy, Business Academia, etc.
Class to be divided into three or four groups for the Corporate Strategy.

Week 3
Time-Value of Money
Simple and Compounded Interest
Future and Present Values
Submission of Profile of Company for Corporate Strategy, and of Outline of Corporate Strategy

Week 4
Capital Budgeting
Definition of Cash Flow After Taxes or Savings After Taxes
Net Present Value
Payback Period: Simple and Discounted

Week 5
Capital Budgeting
Net Present Value
Payback Period: Simple and Discounted
Internal Rate of Return
Interpolation

Week 6
Capital Budgeting
Internal Rate of Return
Interpolation

Week 7
Mid-terms

Week 8
Lease vis-a-vis Purchase Analysis
Advanced Finance Topics:
* Primer – International Finance: Foreign Exchange Management, Multinational Accounting
* Primer – Management of Financial Institutions: Commercial Banking, Investment Banking

Week 9
Advanced Finance Topics:
* Primer – Analysis of Equity Investments: Fundamental and Technical Analysis
* Primer – Analysis of Fixed-Income Investments

Week 10
Advanced Finance Topics:
* Primer – Derivatives: Forward, Futures, Options, Swaps
* Primer – Analysis of Alternative Investments: Real Estate, Investment Companies, Venture Capital, Hedge Funds, Commodity Markets and Commodity Derivatives
* Primer – Portfolio Management: Capital Market Theory, Portfolio Construction, Equity Portfolio Management Strategies, Fixed-Income Portfolio Management Strategies, Risk Management, Performance Measurement

Week 11
Preliminary Presentation and Defense of Corporate Strategies
Submission of names and credentials of external panelists for CorpStrat Defense

Week 12
Written Final Exams

Week 13
Presentation and Defense of Corporate Strategies by Groups 1 & 2

Week 14
Presentation and Defense of Corporate Strategies by Groups 3 & 4

Course Requirements and Grading System:
· Written Exercises, Quizzes, Oral Recitation, Academic Participation in Group Website
· Coursework Portfolio
· Midterm Exam
· Final Exam
· Group Thesis
Textbook:
· Principles of Corporate Finance, by Richard Brealey and Stewart Myers, latest Philippine printed edition
References:
· Group Thesis on Corporate Strategies by prior MBA-Finance batches.
· Financial Management in the Philippine Setting, Texts and Cases, by Cesar G. Saldana
· Investment Analysis and Portfolio Management by Frank Reilly
· Textbook and reference books for Managerial Accounting