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Financial management of companies in the high-tech industry - free course from Open Education, training 15 weeks, from 9 to 10 hours per week, Date November 30, 2023.
Miscellaneous / / December 02, 2023
Currently, Moscow University is one of the leading centers of national education, science and culture. Raising the level of highly qualified personnel, searching for scientific truth, focusing on humanistic ideals of goodness, justice, freedom - this is what we see today as following the best university traditions Moscow State University is the largest classical university in the Russian Federation, a particularly valuable object of cultural heritage of the peoples of Russia. It trains students in 39 faculties in 128 areas and specialties, graduate students and doctoral students in 28 faculties in 18 branches of science and 168 scientific specialties, which cover almost the entire spectrum of modern university education. Currently, more than 40 thousand students, graduate students, doctoral students, as well as specialists in the advanced training system are studying at Moscow State University. In addition, about 10 thousand schoolchildren study at Moscow State University. Scientific work and teaching are carried out in museums, at educational and scientific practice bases, on expeditions, on research vessels, and in advanced training centers.
A new element of the Russian education system - open online courses - can be transferred to any university. We make this a real practice, expanding the boundaries of education for every student. A full range of courses from leading universities. We are systematically working to create courses for the basic part of all areas of training, ensuring that any university can conveniently and profitably integrate the course into its educational programs
"Open Education" is an educational platform offering massive online courses from leading Russian universities that have joined forces to provide everyone with the opportunity to receive a high-quality higher education education.
Any user can take courses from leading Russian universities completely free of charge and at any time, and students of Russian universities will be able to count their learning results at their university.
Topic 1. Introduction to the course. Goals and objectives of financial management
1.1. Development of financial management in the world and in Russia. Basic theories of Nobel laureates.
1.2. Objectives of financial management. The main problems and challenges of financial development in 2020
1.3. Corporation as an object of study of financial management
1.4. Features of the financial model of high-tech companies. Case. Mining farm
Topic 2. Company cash flow as an object of financial analysis
2.1. Direct and indirect methods of building cash flow. Factors influencing the amount of cash flow. Advantages and disadvantages of cash flow indicators in the financial analysis of a company's activities. Analysis of the relationship between profit, working capital movement and cash flow.
2.2. Assessing the adequacy of funds to carry out operating and investment activities. Free cash flow for technology companies. Structure of the company's cash flows at various stages of the technology life cycle.
Topic 3. Fundamentals of financial asset valuation
3.1. Principles for valuing basic financial assets. Methodology for valuing major financial assets. Estimation of the value of a coupon bond. Valuation of a zero coupon bond. Problems in valuing bonds with variable coupons.
3.2. Valuation of preferred shares. Objectives of investing in shares: application of discounted dividend payment models. Gordon's model. Prerequisites and limitations of the Gordon model. Constant future dividend growth rate: Implications of the thesis for modern financial management.
Situation analysis 1. Estimation of the value of Russian Eurobonds.
Situation analysis 2. Why are preferred shares not used to attract investment in Russia?
Topic 4. Risk and uncertainty in the valuation of financial assets
4.1. Risk classification. Risk measurement. Systematic and unsystematic risks. Markowitz theory. Implications of diversification for risk management. A model for assessing long-term assets of a company, its methodological prerequisites. Criticism of the CAPM model.
4.2. Alternative approaches to the valuation of financial assets. Methods of expert risk assessment. Nobel laureates 2013: Schiller, Hansen, Fama. Hypothesis of information efficiency of markets.
Situation analysis 3. Are corporations currently looking to diversify their businesses to manage risk?
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