Students

AFIN312 – Issues in Corporate Finance

2016 – S2 Evening

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Lurion De Mello
Contact via afin310@mq.edu.au
E4A 515
Tues 10.30-11.30am
Teaching Assistant
Veronica Chen
Contact via afin310@mq.edu.au
N/A
None: Queries via email only
Angela Chow
Credit points Credit points
3
Prerequisites Prerequisites
ACCG350 or AFIN352 or AFIN353
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
This is the Capstone unit for the Bachelor of Commerce (Finance) program. This unit comprises of a series of seminars by industry professionals for the first half of the course, after which students are given time to complete a hands on research project. In the last week of the teaching period, a mini conference is held. At this conference, students will present their project to a cohort of fellow students and industry experts, including those professionals who deliver the seminar lectures. Students are assessed on a reflective journal, and on both the written and oral components of their reports.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Work as a team and account for individual contribution​ and responsibility on a project set by an industry practitioner
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies
  • Assess methods quants use in making long-term investment decisions with respect to publicly listed companies

General Assessment Information

Please note that students will have a limited opportunity to ask questions regarding the assignments should they need some clarifications. These issues should post on the relevant discussion thread on ilearn as questions posted on other threads might be missed. The opportunity to post queries will close three days before the assignment due date. However, students will be able to continue posting on the thread, but the questions will not be answered by any of the academic staff including the teaching assistant. You are free to discuss matters amongst yourselves.

Please read the assignment question carefully and start planning early.  Replies to online posts and emails will be responded to within 48hrs however we will only be respond to them during work hours and not on weekends. Repeated questions will not be answered so; please read the previous postings carefully.

The standard submission folder will not be accessible after 5 pm on the due date of the assignment. A late submission folder will appear, and you will need to submit your work there. All submissions in the late folder will be subjected to the late penalty as outlined under each assignment task above.

  • It is the responsibility of students to view their marks for each within session assessment on iLearn within 20 working days of posting. If there are any discrepancies, students must contact the unit convenor immediately. Failure to do so will mean that queries received after the release of final results regarding assessment marks (not including the final exam mark) will not be addressed.
  • Assessment criteria for all assessment tasks will be provided on the unit iLearn site.   

Any emails after the completion of the final exam relating to their fairness in the exam or their grade will not be answered.  The outcome is only communicated via the official release of grades by the Universit

 

Assessment Tasks

Name Weighting Due
Online Quiz 0% Week 3
In-class test 20% Week 5
Group Project 30% 5pm. 3rd Oct, 2016
Final Exam 50% See Exam Timetable

Online Quiz

Due: Week 3
Weighting: 0%

The online quiz will consist of 5 multiple choice questions and will be available on ilearn in week 3.  It will remain open for this week only. It will be based on material covered in the first 2 weeks. There is no time limit to complete this quiz. Please use this online quiz as an indicator of whether you are progressing satisfactorily in the unit.  If you are having difficulties, please see the unit convenor or consider withdrawing from the subject before the census date on Friday of week 4. 


On successful completion you will be able to:
  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.

In-class test

Due: Week 5
Weighting: 20%

The in-class test will be based on material covered in the first four weeks of the course. It will be held at the lecture venue starting at 6pm sharp. Please arrive at the venue 10 mins prior and have your student ID card and writing materials ready. Please bring your own rulers and calculators. Mobile phones and notes have to be kept in your closed bag and kept under your chair. Please note that you need to have a special consideration form submitted if you are unwell to attend. A substitute test will be held at a time and place at the discretion of the unit convenor. You need to attempt this component in order to pass the subject.  

 


On successful completion you will be able to:
  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies

Group Project

Due: 5pm. 3rd Oct, 2016
Weighting: 30%

The main task will be completed in a group of minimum 3 and maximum 4 (strictly enforced) and will comprise an individually assessed componentThe group component will have a weighting of 15%, with the remainder 15% based on your individual contribution. Please read the information below carefully so you have a clear understanding of what is expected from you and your group. 

The guest lecturer will discuss the formatting and structure of the assignment 

In addition to the main group report, you are required to submit an additional page summarising the distribution of work completed by each member of the group. The summary should include a table stating the date of the meetings and a few points of discussion at each session. The bottom of the form should disclose the breakdown of tasks and the percentage of contribution from each member. An unequal percentage will lead to a lower mark. Please ensure you set up your meetings using the meeting request function in your Gmail calendar function (please check online on how to do this or within your student email account). All meeting timings should be arranged in writing via email with all members required to respond their intention to attend in writing. If you have issues with your group, please inform the unit convenor in advance as last minute complaints will not be entertained. Failure to not respond to emails and no showing up at meetings will result in a penalty. You are also required to submit your individual written contribution to the group project (latest version submitted to the group prior to the final edit) in a separate link 3 days prior (5pm, 30th of Sept) to the group report submission deadline. Your group should nominate one person as the primary editor of the group report to check for language and grammatical errors. 

As part of testing your individual contribution to the group, each member is required to give a 7-10 min presentation based on their individual task, their approach to the task with other group members and describing some of the challenges faced in achieving it. The presentation should be in the order of the presenters and one member should email the presentation file to the teaching assistant 1 day prior to the presentation. 

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply to cases in which an application for disruption of studies is made and approved. No submission will be accepted after solutions have been posted.

You will need to submit a soft copy of the group and individual written components via the Turnitin links provided on the course page in iLearn, and any MS Excel components via the unique links also provided in the ilearn space. Your assessment and the mark will be returned to you via Grade Mark within the course's ilearn space.

Please see additional conditions relating to your submission in the General Assessment Information section of the course outline.


On successful completion you will be able to:
  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Work as a team and account for individual contribution​ and responsibility on a project set by an industry practitioner
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies

Final Exam

Due: See Exam Timetable
Weighting: 50%

The final exam will be on all the topics and will consist of multiple choice and written components.

"You are permitted ONE A4 page of paper containing reference material printed on both sides. The material may be handwritten or typed. The page will not be returned at the end of the final examination.”

If you are granted a disruption to studies for the final exam then the mix of topics in the supplementary assessment might be different to the ones allocated to the normal end of semester examination. 

Supplementary assessment will only take place during the supplementary examination period.


On successful completion you will be able to:
  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies
  • Assess methods quants use in making long-term investment decisions with respect to publicly listed companies

Delivery and Resources

Classes 

Lecture and tutorial: W6B350, Tuesday 6 – 9 pm

The campus map can be downloaded from the following link http://www.ofm.mq.edu.au/maps_campus.html

The timetable for classes can be found on the University web site https://timetables.mq.edu.au/2016/

Classes in AFIN312 are composed of a two-hour lecture and two hours of tutorials. The tutorials will discuss and apply some of the material covered in the lectures. You will be required to undertake some research and present your findings as written document in addition to a presentation. Unit materials are learnt by attending lectures and through independent learning. The lectures provide a general overview of the topics highlighting a number of concepts and techniques. Students are strongly advised to study any additional reading material provided by the unit convenor, the guest lecturers and further explore all relevant concepts and techniques. The tutorials will be used to have a close discussion on different areas of finance students have covered in their previous courses and students will also reflect on the various concepts deemed important for the finance industry. Tutorials will cover some material on the important of ethics followed my suggestions to complete various modules on the CFA website. 

Students should attend a two-hour lecture every week. Lecture slides will sometimes be available prior to the lecture on iLearn and in some instances after the lecture. The will be distributed at the discretion of the guest lecturer.

The lecture recording (audio and video) will also be available via ECHO360 (approximately 1 hr after the end of the lecture). Please see the ECHO360 link in your course iLearn page.

Required and Recommended Texts and/or Materials

There are no required or recommended texts for AFIN312. Notes for each of the lectures will be made available in iLearn. If required, additional readings will also be provided either via iLearn and eReserve.

Please note that you will be required to complete the following module from the CFA website and upload the completion report to ilearn.

http://www.cfainstitute.org/learning/products/onlinelearning/Pages/61587.aspx?WPID=BrowseProducts 

Technology Used and Required

iLearn is an online program available at https://ilearn.mq.edu.au/login/MQ/ through which students will be able to access resources such as lecture notes and ilectures to assist them throughout the semester. The discussion forum environment will be extensively used to allow students to interact with each other.

Unit Web Page

Course material is available on the learning management system at http://ilearn.mq.edu.au

You are strongly encouraged to regularly visit the website and use it as a resource centre to assist with your learning.

If you are unable to access the website because you are not aware of or have forgotten your username and password, please contact the IT helpdesk. All information can be found at http://informatics.mq.edu.au/help/

With regards to assistance in using iLearn please visit the following link.

http://www.mq.edu.au/iLearn/student_info/index.htm

You can follow the tabs on the left, i.e., “Getting Started” and “Access iLearn”

Please remember to log out when you have finished using iLearn. Failure to do so could result in unauthorised access to your iLearn account.

Learning and Teaching Activities

The teaching strategy in AFIN312 recognises that students learn independently and assume responsibility for the learning process and with academic integrity.

Students are expected to participate in the unit by attending lectures, reading the provided material and thoroughly revising the lecture notes. You are also expected to use the full suite of research databases available from the library. This includes reference to journal articles and industry reports.

What we aim to achieve in AFIN312 is deep (as opposed to the surface) learning. Thus, learning is interpreted as making sense or abstracting meaning. Learning involves relating parts of the subject matter to each other and to the real world. Further learning is understood as comprehending the world by understanding and reinterpreting knowledge.

This unit also gives you the opportunity to go beyond your discipline and exposes you to different areas of finance, including understanding how corporate finance deals take place. Besides applying your finance knowledge you will also learn how a due deligence process takes place for example in a merger and acquisition transaction.  

Unit Schedule

Week & Date

Lectures,Tutorials and Topics

Week 1

3rd Aug

Lecture 1 – Overview of Corporate Finance & PwC Deals   Angela Haynes (Associate Director, PwC Deals)

Week 2

10th Aug

Lecture 2 – Mergers & Acquisitions – Buy-side perspective Amanda Hill - (Senior Consultant - Transaction Services) Sky Tervydyte (Senior Consultant - M&A)

Week 3

17th Aug

Lecture 3 – Transaction/financial modelling 1 Jason Zheng (Senior Consultant, Financial Modelling) Farouk Dahbourah (Manager, Financial Modelling)

Week 4

24th Aug

Lecture 4 – Transaction/financial modelling 2 Jason Zheng (Senior Consultant, Financial Modelling) Farouk Dahbourah (Manager, Financial Modelling)

Week 5

31st Aug

In-Class Test (20%) - Lecture Venue

Week 6

7th Sep

Lecture 5 - Quantitative strategies for long-term investment 1 Richard Lawson (Senior Quantitative Analyst) - RF (Robert Family) Capital, Sydney

Week 7

14th Sep

Lecture 6 – Quantitative strategies for long-term investment 2 Richard Lawson (Senior Quantitative Analyst) - RF (Robert Family) Capital, Sydney

Week 8

5th Oct

Lecture 7 – Building a business investment case  Guillaume Babille (Associate - Economics and Policy Consulting)

Week 9

12th Oct 

Lecture 8 – Hot Property – Transactions involving property Jo-Ming Ong (Senior Manager – Real Estate Advisory

Week 10

19th Oct

Lecture 9 – Acquisition funding - debt or capital market? Tom Morrison (Associate Director, Corporate Finance) Shannon Gregor (Senior Consultant, Debt and Capital Advisory

Week 11

26th Oct 

Tutorial Presentations

Week 12

2nd Nov 

Tutorial Presentations

Week 13

9th Nov 

Tutorial Presentations & Revision

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html

New Assessment Policy in effect from Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy_2016.html. For more information visit http://students.mq.edu.au/events/2016/07/19/new_assessment_policy_in_place_from_session_2/

Assessment Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy.html

Grading Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/grading/policy.html

Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html

Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html​

Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/

Results

Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.

Supplementary Examination

Further information regarding supplementary exams, including dates, is available here

http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/disruption_to_studies

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

For all student enquiries, visit Student Connect at ask.mq.edu.au

IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Graduate Capabilities

Critical, Analytical and Integrative Thinking

We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.

This graduate capability is supported by:

Learning outcomes

  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Work as a team and account for individual contribution​ and responsibility on a project set by an industry practitioner
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies
  • Assess methods quants use in making long-term investment decisions with respect to publicly listed companies

Assessment tasks

  • Online Quiz
  • In-class test
  • Group Project
  • Final Exam

Problem Solving and Research Capability

Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.

This graduate capability is supported by:

Learning outcomes

  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Work as a team and account for individual contribution​ and responsibility on a project set by an industry practitioner
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies
  • Assess methods quants use in making long-term investment decisions with respect to publicly listed companies

Assessment task

  • Group Project

Effective Communication

We want to develop in our students the ability to communicate and convey their views in forms effective with different audiences. We want our graduates to take with them the capability to read, listen, question, gather and evaluate information resources in a variety of formats, assess, write clearly, speak effectively, and to use visual communication and communication technologies as appropriate.

This graduate capability is supported by:

Learning outcomes

  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Work as a team and account for individual contribution​ and responsibility on a project set by an industry practitioner
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies

Assessment task

  • Group Project

Engaged and Ethical Local and Global citizens

As local citizens our graduates will be aware of indigenous perspectives and of the nation's historical context. They will be engaged with the challenges of contemporary society and with knowledge and ideas. We want our graduates to have respect for diversity, to be open-minded, sensitive to others and inclusive, and to be open to other cultures and perspectives: they should have a level of cultural literacy. Our graduates should be aware of disadvantage and social justice, and be willing to participate to help create a wiser and better society.

This graduate capability is supported by:

Learning outcomes

  • Analyse the stages of a deal from strategy and value identification, through execution to value realisation.
  • Work as a team and account for individual contribution​ and responsibility on a project set by an industry practitioner
  • Investigate various financial modelling tools and approaches applied in practice when evaluating industries and companies

Assessment tasks

  • Online Quiz
  • In-class test
  • Group Project
  • Final Exam

Changes from Previous Offering

This subject is being offered for the first time in Semester 1, 2016 for the BCom (Finance) major.