FNAN 303: Financial Management Master Syllabus
| Professors | ||||
|---|---|---|---|---|
| Name | Zoom | Office | Office Hours | |
| Lecture Sessions | |||
|---|---|---|---|
| Section | Professor | Class day(s) and time | Location |
| * Special session for students in asynchronous sections | |||
Times
All times noted in the syllabus and relevant for the class refer to the time in Fairfax, VA, which is in the Eastern Time Zone.
| Teaching Assistants | |||
|---|---|---|---|
| Name | "Home" Sections for Email | Drop-In Office Hours | |
| All TA sessions are held on Zoom. | |||
| TA Recitation Sessions | ||
|---|---|---|
| Name | Day | Time |
| All TA sessions are held on | ||
| * Special session for students in asynchronous sections | ||
Course Description, Objectives and Goals
FNAN 303 introduces you to the fundamental concepts, principles, and analytical tools in finance. Topics covered include time value of money, security valuation, capital budgeting, risk and return analysis, and cost of capital. Course objectives and learning goals can be found in Appendix 1 of this syllabus.
The course is divided into 21 lessons and each lesson includes roughly 2 to 4 units. Tables are presented later in this syllabus (and in Canvas) that lay out when your section will cover each lesson and which slides, videos, problems, and sections of the textbook (available through Connect) correspond with each unit.
Required Items
- Access to a computer that meets Costello College of Business Minimum Computing Requirements.
- Connect subscription: You must get Connect, which is offered by McGraw-Hill, as it will be used for all graded components of the course.
- Financial calculator: Calculators with financial functions are used a great deal to help solve problems in this course. Support will be provided for the TI-83/TI-84/TI-89 series. You may use a different calculator if desired, but course instructors (which includes professors and teaching assistants) may not be able to help with any calculator other than the TI-83/TI84/TI-89 series. A physical financial calculator is required during exams. Appendix 2 describes some of the behaviors and actions involving calculators that are considered violations of the Academic Standards Code.
- Canvas access: You must have access to Canvas, an on-line course management system that enables you to receive messages, observe grades, and access course material such as slides, lecture videos, exams, quizzes, problems, solutions, and other relevant material. Do not use the email feature associated with Canvas.
- George Mason University email account: You are expected to have your George Mason email accounts activated, regularly check your inboxes, and keep adequate space available so that you can receive (and, of course, read) emails. Note that to help ensure privacy, instructors and students need to use our George Mason email accounts when corresponding with each other. See the Mason Email website for more information.
Other Important Resources
- Attending class (face-to-face and synchronous sections): Attending class is an effective contributor to learning course the material. In class, new material will be introduced and problems will be solved. It is a great opportunity to gain a deeper understanding, as you can benefit from your own and classmates’ questions.
- Watching lecture videos: You have access to recorded lectures, which are posted in Canvas under the relevant lesson. The relevant topics for these videos can be found later in this syllabus. For many students (including all students in asynchronous sections), these videos are the primary way that they get introduced to material.
- Attending TA recitation sessions and/or watching TA videos: TA recitation sessions are a great complement to attending class and/or watching videos. The TA will go over many problems and answer student questions. There will be several TA sessions throughout the week and you may attend as many or as few as you would like.
With one exception, any student in any section of FNAN 303 can attend any TA recitation session. The one exception is that the TA session that is only for students in the asynchronous sections.
All TA sessions (and TA office hours) are held on Zoom at
Videos from TA recitations will be posted in Canvas in the “TA session recordings” folder. These videos will primarily involve TAs solving problems.
- Answering student questions: If you have a question related to course material, you can ask your question to someone either during office hours (listed at the beginning of this syllabus), at a TA recitation session, or through email.
With one exception, any student in any section of FNAN 303 can attend any instructor’s office hours. Therefore, there are roughly 10 hours throughout the week (outside of any class or recitation times) when you can see an instructor (which includes all professors and TAs) and ask questions.
The one exception is that Dr. Pilloff has office hours that are only for students in the asynchronous on-line sections.
With emails, questions about finance material should first be sent to their “home” section’s TA (see table on page 1), as helping students with these types of issues is one of the primary duties of the TAs. If you still have questions after interacting with your “home” section’s TA, then step 2 is to email your professor. Note that the “home” section is only relevant for which TA students should email. Office hours and TA sessions are not relevant for the “home” TA.
If you have a question related to an administrative aspect of the course (such as a missed exam or Connect) that is not answered in the syllabus, address that question to Dr. Pilloff.
Instructors will attempt to respond to emails within 24 hours (and hopefully sooner, but possibly longer on weekends and holidays).
Grading
Your overall numeric grade for the course is computed by multiplying scores on various components, which are all out of 100 points, by the relevant weights from the first table. Three different approaches are taken and your overall numeric grade is the highest of the 3. In short, the 3 approaches differ in that 12% of the grade is based on the highest of the following: your highest score from a part of test 1; your lowest score from tests 2, 3, & 4; or your lowest score from a part of the final exam.
| Course Component | Weight of Numeric Grade for the Course Average | ||
| Approach 1 | Approach 2 | Approach 3 | |
| Tech test | 1% | 1% | 1% |
| Highest score on test 1 part | 12% | 0% | 0% |
| Lowest score on test 1 part | 0% | 0% | 0% |
| Highest score on test 2, 3, & 4 | 25% | 25% | 25% |
| Second highest score on test 2, 3, & 4 | 25% | 25% | 25% |
| Third highest score on test 2, 3, & 4 | 0% | 12% | 0% |
| Highest score on a final exam part | 25% | 25% | 25% |
| Lowest score on a final exam part | 0% | 0% | 0% |
| Graded assignments | 12% | 12% | 12% |
This overall numeric grade is then used to determine the letter grade for the course according to the ranges presented in the second table.
| Grade | Range for Numeric Grade for the Course |
| A+ | 97.5 or greater |
| A | 92.8 – 97.5 |
| A- | 90.0 – 92.7 |
| B+ | 87.0 – 89.9 |
| B | 83.0 – 86.9 |
| B- | 79.0 – 82.9 |
| C+ | 74.0 – 78.9 |
| C | 69.0 – 73.9 |
| D | 60.0 – 68.9 |
| F | 59.9 or less |
Numeric grades for the course are rounded up to the nearest tenth (1 decimal place) and final letter grades are based on the rounded figure. For example, 68.9001 would round up to 69.0, which would be a C, but 68.9000 would round up to 68.9, which would be a D. The Course Coordinator may modify the grading policy for the course if, in his opinion, events, conditions, etc. warrant modifications.
This course requires a grade of a C or higher to satisfy Costello College of Business degree requirements. Registration in this course is prohibited beyond three attempts that result in a grade lower than a C. If a student has questions about this policy, they should see an academic advisor in the Office of Student Success and Academic Services in Enterprise Hall 008. Students must earn a B-minus or higher in FNAN 303 in order to register for certain finance electives required by finance majors (FNAN courses numbered 311, 321, 341, and 401). Therefore, a grade of B-minus or higher in FNAN 303 is needed to major in finance.
All Tests and Exams
All tests and exams require the use of Proctorio, a browser-locking and remote proctoring solution designed to protect the integrity of tests and exams. For more information, check out the Proctorio Student Guide, which is posted in the syllabus folder in Canvas.
As noted, the Proctorio Student Guide, which is posted in the syllabus folder in Canvas, provides useful guidance on how to install Proctorio. I have been told that browsers other than Chrome (primarily Edge) may work as well. However, Safari is known to have issues with Proctorio and is not encouraged for use on tests and exams.
Tech Test
There is a brief tech test you should take before the test window opens for test 1 to ensure that you’re familiar with the testing process and that Proctorio is working on your computer. The tech test is available in the “Graded Items” folder in Canvas (under the recitation section, 3D7) and can be started any time before the start of test 1. Note that Connect may auto-submit any open tests at the deadline.
The purpose of this brief test is to help familiarize you with the tool that will be used during exams and minimize the likelihood of unanticipated developments. It is much better to discover any issues early, when adequate time exists to get help, than later, when it may be too late.
Unlike the other tests and exams in this course, which can only be taken and submitted one time, the tech test may be taken as many times as you want, thereby providing many opportunities in the first few weeks of the term to get familiar with Proctorio. Your highest score on the tech test is the one that will be used to determine the course grade. There is a 5-minute limit on the test, which is substantially more time than should be needed.
If you do not already have Proctorio on your computer, you can install it by following the step-by-step instructions provided in the Proctorio Student Guide, which is posted in the syllabus folder in Canvas.
If you encounter technical issues installing or using Proctorio, you can contact Proctorio customer support by emailing them at support@proctorio.com or using the live chat feature at the Proctorio extension. McGraw-Hill, which administers Proctorio, can be reached at the McGraw-Hill Digital Technical Support website or (800) 331-5094. Lastly, George Mason ITS support may be helpful if the issue is a more general tech one. They can be reached at support@gmu.edu or (703) 993-8870 or the George Mason ITS website.
Tests and the Final Exam
Basics
There will be 4 tests and a final exam.
Once the relevant window ends, Proctorio will prevent any tests or exams from being started and may auto-submit any open tests. Therefore, tests opened near the end of the exam window may only remain open for a short time. Therefore, don’t wait until the last minute or when technical support is closed to attempt to start a test or part of the final. The risk-return trade-off isn’t worth it.
Scores & Grades
Various policies, instructions, and information regarding tests and the final exam will be provided via announcement and/or email. In addition, some relevant information, policies, and expectations are presented in appendix 3.
If a student is determined according to the relevant procedures to have been in violation of using unauthorized assistance, fabrication, and plagiarism on any exam or part of an exam, then the score on that exam (reflecting any penalties) will be included in the course average. In other words, the score for an exam or part of an exam cannot be excluded or dropped if an academic integrity violation took place.
Formula & Notes Document
For each test and the final exam, you are allowed to print a document (posted in Canvas under “Formula sheet”) with formulas and key notes about assumptions, conventions, and terminology used in the course. You are not allowed to write on or alter the printed-out formula sheet document before starting your exam (or a part of the final). Doing so is considered a violation of the Academic Standards Code. Once an exam (or part of the final) is started, you may write on your previously unedited and unaltered document. In other words, any page(s) from the formula document you start an exam with should look exactly like those pages in the document posted on Canvas.
Scoring & Grading Notes
If there is an error in a test or the final exam, all responses might be regraded using a revised answer key, not just those that were incorrectly given 0 points for a correct response. Obviously reassessing all answers could potentially lower a student’s grade if points were initially received for an incorrect response. We hope this doesn’t become an issue, but want to assert that correcting grading errors could result in lower scores for some students.
Also, it’s possible that Connect may not recognize a correct answer as correct, due to formatting or some other issue. If that happens, the student could potentially earn credit for the answer and have their score revised. Also, if using Connect for exams is problematic, exams may be administered using Canvas with Lockdown Browser and Respondus Monitor.
Exam Schedule & Coverage
The following table presents relevant information on when each exam can be started and what material and problems will be relevant for each exam. Remember, the time limit may only be relevant if the exam is opened long enough before the end of the exam window. More detailed information about each exam will be shared with the class before each exam.
| Exam | Time Limit | Exam Window | Material Covered |
| Tech Test | |||
| Test 1 (2 parts) | |||
| Test 2 | |||
| Test 3 | |||
| Test 4 | |||
| Final (2 parts) |
Make-Up Tests & Exams
Tech Test
There are no make-up opportunities planned for the tech test.
Tests 1, 2, 3 and 4
Because one score is dropped from tests 1, 2, 3, and 4 and because you have a window of several days to start a test, make-up tests for tests 2, 3, and 4 are very rare. The approach of dropping one of these tests is intended to address situations such as a health-related or other situation when a make-up might often be given. The addition of approaches 2 and 3 to the course grading polices do not change the way that make-ups for tests 2, 3, and 4 will be handled.
If you miss 2 of these tests, then the lower score from the 2 parts of the final exam would serve as the make-up for one of the tests under certain circumstances. If both absences are determined to be due to excused reasons, then the lower score from the final exam would count as one of the test scores. If you miss 1 test for an unexcused reason and one for an excused reason, then the lower score from the final exam would count as one of the test scores, but with a 25-point deduction. If a you miss 2 tests for unexcused reasons, then the lower score from the final exam would not count as one of the test scores and both test scores of zero would stand.
If you miss all 3 of these tests for excused reasons, then a special make-up would be given for 1 of them and the lower score from the 2 parts of the final exam would serve as the second make-up. Note that missing all 3 tests may also result in a recommendation that withdrawal from the course be considered.
Final Exam
If you miss the final exam for an excused reason, a make-up test would be given if permission is provided by both the Course Coordinator (Dr. Pilloff) and the College of Business.
Graded Assignments
During the term there will be graded assignments.
The following table notes when various assignments are due:
| Graded Assignment Number(s) | Due by 11:59pm on... | Relevant Lesson(s) |
Assignments will be administered through Connect. If issues are discovered with a problem in an assignment (which will hopefully not happen, but could), the affected assignment could be replaced with a new version of the assignment. If a replacement assignment is created, your score would be the highest among all versions of a particular assignment. Given the way that Connect works, this may be the only way to address the issue, as a “deployed” assignment can’t be edited or revised once started by any students.
Grades may be revised if Connect makes a grading error, but grades would not be revised if a question is marked wrong due to incorrect formatting, such as entering .1234 instead of 12.34 for a question that asks for a rate, where the answer is requested as ___ percent.
Because you can earn a score of 100 for graded assignments by answering only some of the assignment questions correctly, there will be no extensions or make-ups for graded assignments except in extremely rare and/or unusual cases. A lot of flexibility is already built into the grading approach. One possible reason for an extension would be if a section winds up not covering relevant material before the due date.
To facilitate learning, you are allowed (and encouraged) to work together and/or seek help from an instructor (professor or TA) on assignments. Although you can work with classmates, you are prohibited from cheating, which includes, but is not limited to copying an answer from someone else, receiving an answer from someone else, supplying an answer to someone else, or using Chegg, Course Hero, an AI tool like ChatGPT or Copilot, or other similar resource in any way to solicit any sort of help. As noted, this list of possible ways to cheat is not exhaustive.
Practice Questions
Many practice questions (with associated solutions and answers) are available in Canvas.
- Test bank problems: A large set of questions and problems that extensively covers the material relevant for this course has been created. This set is referred to as “test bank problems” and incorporates everything that you are expected to learn in the course.
The term “test bank problems” refers to both the primary documents with all questions and a supplementary set of documents with true-false questions that capture many of the conceptual issues covered in the class.
The term “test bank problems” refers to both the primary documents with all questions and a supplementary set of documents with true-false questions that capture many of the conceptual issues covered in the class.
- Practice questions in Connect: Sets of practice questions have been constructed in Connect that correspond to each lesson of the course. These sets include multiple versions of each test bank problem and all true-false questions where relevant. The questions are presented in the same order as they appear in the test bank problems.
If issues are discovered with a practice question in Connect (which will likely happen, as this is the first term we are using Connect and because Connect sometimes does weird things when questions are copied), the affected set of practice questions could be replaced with a new version of the assignment.
Extra Credit
There are no plans for extra credit opportunities, and although unlikely, they may be offered during the semester.
Incompletes
A grade of incomplete may be given to students who are passing the course (with a C or higher) but who may be unable to complete scheduled coursework for a cause beyond reasonable control. An incomplete can only be given if you have completed at least half the work for the semester, are passing the course, and have a documented excusable reason (such as a serious illness) for being unable to complete the remainder of the work as scheduled. Poor time management or failure to deal with a situation earlier in the semester would not be accepted as a reason for an incomplete.
Course Schedule (Lessons, Review, and Exams) for Each Section
Lessons (slides, videos, & problems associated with each lesson)
| Lesson | Slides & Videos | Specific Topic (Unit) | Problem Topic | Problem Numbers |
| 1 | 01.01 | Overview of finance | Overview | Overview TF, 1 |
| 1 | 02.01 | FV, 1 CF | TVM1 | None |
| 2 | 02.02 | FV 1 CF, fin calc | TVM1 | TVM1, 1 – 2 |
| 2 | 02.03 | Timelines | TVM1 | None |
| 2 | 02.04 | FV 1 CF, misc | TVM1 | TVM1, 3 (TF, 1) |
| 2 | 02.05 | PV 1 CF & fin calc | TVM1 | TVM1, 4 – 8 (TF, 2) |
| 3 | 02.06 | Implied rate, 1 CF | TVM1 | TVM1, 9 – 10 |
| 3 | 02.07 | Number of periods, 1 CF | TVM1 | TVM1, 11 |
| 3 | 02.08 | Non-current reference, 1 CF | TVM1 | TVM1, 12 – 13 |
| 3 | 03.01 | PV multiple CFs | TVM2 | TVM2, 1 – 2 |
| 4 | 03.02 | PV annuities | TVM2 | None |
| 4 | 03.03 | PV annuities, loans & extra CF | TVM2 | TVM2, 3 |
| 4 | 03.04 | PV annuities, amt to fund withdrawals | TVM2 | TVM2, 4 – 6 |
| 4 | 03.05 | PV annuities due | TVM2 | TVM2, 7 – 10 |
| 5 | 03.06 | PV annuities & due CF | TVM2 | TVM2, 11 – 18 |
| 5 | 03.07 | PV annuities & due N | TVM2 | TVM2, 19 – 24 |
| 5 | 03.08 | PV annuities & due R | TVM2 | TVM2, 25 – 30 |
| 5 & 6 | 03.09 | Fixed perpetuities | TVM2 | TVM2, 31 – 37 |
| 6 | 03.10 | Growing perpetuities | TVM2 | TVM2, 38 – 46 |
| 6 & 7 | 03.11 | Delayed annuities & perpetuities | TVM2 | TVM2, 47 – 49 |
| 7 | 04.01 | FV multiple CFs | TVM3 | TVM3, 1 – 2 |
| 7 | 04.02 | FV annuities & due | TVM3 | TVM3, 3 – 8 |
| 8 | 04.03 | Future withdrawal after FV annuity or due | TVM3 | TVM3, 9 – 20 |
| 8 | 04.04 | FV annuities & due CF | TVM3 | TVM3, 21 – 24 |
| 8 | 04.05 | FV annuities & due N | TVM3 | TVM3, 25 – 26 |
| 8 | 04.06 | FV annuities & due R | TVM3 | TVM3, 27 – 30 |
| 9 | 04.07 | FV annuity or due CF to meet future need | TVM3 | TVM3, 31 – 38 |
| 9 | 04.08 | Stated & effective annual rates | TVM3 | TVM3, 39 – 45 |
| 10 | 05.01 | Bonds, overview | Bonds | Bonds, 1 (TF, 1) |
| 10 | 05.02 | Bonds, valuing | Bonds | Bonds, 2 – 10 |
| 10 | 05.03 | Bonds, YTM | Bonds | Bonds, 11 – 19 |
| 11 | 05.04 | Bonds, misc | Bonds | Bonds, 20 (TF, 2) |
| 11 | 06.01 | Stocks, overview | Stocks | Stocks, 1 (TF, 1) |
| 11 | 06.02 | Stocks, valuing 1 period | Stocks | Stocks, 2 – 10 |
| 11 | 06.03 | Stocks, valuing N periods | Stocks | Stocks, 11 – 18 |
| 12 | 06.04 | Stocks, valuing fixed dividends | Stocks | Stocks, 19 – 28 |
| 12 | 06.05 | Stocks, valuing constant growth | Stocks | Stocks, 29 – 40 |
| 12 | 06.06 | Stocks, valuing nonconstant growth | Stocks | Stocks, 41 |
| 13 | 07.01 | Criteria, NPV | Criteria | Criteria, 1 – 4 (TF, 1) |
| 13 | 07.02 | Criteria, IRR | Criteria | Criteria, 5 – 8 (TF, 2) |
| 13 | 07.03 | Criteria, payback | Criteria | Criteria, 9 – 14 (TF, 3) |
| 14 | 08.01 | Relevant CFs, overview | Relevant CFs | None |
| 14 | 08.02 | OCF & net income | Relevant CFs | Relevant CFs, 1 – 6 |
| 14 | 08.03 | Sunk costs & side effects | Relevant CFs | None |
| 14 | 08.04 | OCF example, sunk costs & side effects | Relevant CFs | Relevant CFs, 7 – 13 |
| 15 | 08.05 | OCF, depreciation | Relevant CFs | Relevant CFs, 14 – 27 |
| 15 | 08.06 | Net working capital | Relevant CFs | Relevant CFs, 28 |
| 16 | 08.07 | Capital spending | Relevant CFs | Relevant CFs, 29 – 35 |
| 16 | 08.08 | Analyzing projects, basic example | Relevant CFs | Relevant CFs, 36 – 38 |
| 16 | 08.09 | Analyzing projects, big example part 1 | Relevant CFs | None |
| 17 | 08.10 | Analyzing projects, big example part 2 | Relevant CFs | Relevant CFs, 39 – 44 |
| 17 | 08.11 | Analyzing projects, efficiency example | Relevant CFs | Relevant CFs, 45 |
| 17 | 09.01 | Dollar & percentage returns | Risk & return | Risk & ret, 1 – 8 |
| 18 | 09.02 | Arithmetic average & compound, part 1 | Risk & return | Risk & ret, 9 |
| 18 | 09.03 | Arithmetic average & compound, part 2 | Risk & return | Risk & ret, 10 – 11 |
| 18 | 09.04 | Nominal & real returns | Risk & return | Risk & ret, 12 – 17 |
| 18 | 09.05 | Sample variance & standard deviation | Risk & return | Risk & ret, 18 |
| 19 | 09.06 | Expected ret, var, & SD – individual assets | Risk & return | Risk & ret, 19 – 20 |
| 19 | 09.07 | Expected ret, var, & SD – portfolios | Risk & return | Risk & ret, 21 – 24 (TF, 1) |
| 19 | 09.08 | Risk premiums | Risk & return | Risk & ret, 25 – 30 |
| 19 | 09.09 | Market efficiency | Risk & return | Risk & ret, 31 – 33 (TF, 2– 4) |
| 20 | 09.10 | Systematic & unsystematic risk | Risk & return | Risk & ret, 34 – 36 (TF, 5– 7) |
| 20 | 09.11 | Beta & systematic risk | Risk & return | Risk & ret, 37 – 38 |
| 20 | 09.12 | Capital asset pricing model (CAPM) | Risk & return | Risk & ret, 39 – 56 |
| 21 | 10.01 | Computing WACC, part 1 | Cost of capital | Cost of cap, 1 |
| 21 | 10.02 | Computing WACC, part 2 | Cost of capital | Cost of cap, 2 – 5 |
| 21 | 10.03 | Subjective & pure play approaches | Cost of capital | Cost of cap, 6 – 9 |
Parts of the Textbook Associated with Each Lesson
| Lesson | Slides & Videos | Specific Topic (Unit) | Helpful Sections in the Textbook |
| 1 | 01.01 | Overview of finance | Chapter 1, sections 1.1, 1.2, 1.4, & 1.5 |
| 1 | 02.01 | FV, 1 CF | Chapter 5, section 5.1, pp. 131 – 136 |
| 2 | 02.02 | FV 1 CF, fin calc | Chapter 5, section 5.1, pp. 136 - 137 |
| 2 | 02.03 | Timelines | Nothing specific in textbook |
| 2 | 02.04 | FV 1 CF, misc | Chapter 5, section 5.1 |
| 2 | 02.05 | PV 1 CF & fin calc | Chapter 5, section 5.2 |
| 3 | 02.06 | Implied rate, 1 CF | Chapter 5, section 5.3, pp. 143 – 146 |
| 3 | 02.07 | Number of periods, 1 CF | Chapter 5, section 5.3, pp. 146 – 148 |
| 3 | 02.08 | Non-current reference, 1 CF | Nothing specific in textbook |
| 3 | 03.01 | PV multiple CFs | Chapter 6, section 6.1, pp. 159 – 164 |
| 4 | 03.02 | PV annuities | Chapter 6, section 6.2, pp. 164 – 166 |
| 4 | 03.03 | PV annuities, loans & extra CF | Nothing specific in textbook |
| 4 | 03.04 | PV annuities, amt to fund withdrawals | Nothing specific in textbook |
| 4 | 03.05 | PV annuities due | Chap 6, sec 6.2, pp. 164 – 166 & 171 – 172 |
| 5 | 03.06 | PV annuities & due CF | Chapter 6, section 6.2, pp. 167 – 168 |
| 5 | 03.07 | PV annuities & due N | Chapter 6, section 6.2, pp. 168 |
| 5 | 03.08 | PV annuities & due R | Chapter 6, section 6.2, pp. 168 – 170 |
| 5 & 6 | 03.09 | Fixed perpetuities | Chapter 6, section 6.2, pp. 172 |
| 6 | 03.10 | Growing perpetuities | Chapter 6, section 6.2, pp. 174 |
| 6 & 7 | 03.11 | Delayed annuities & perpetuities | Nothing specific in textbook |
| 7 | 04.01 | FV multiple CFs | Chapter 6, section 6.1, pp. 157 – 159 |
| 7 | 04.02 | FV annuities & due | Chapter 6, section 6.1, pp. 170 – 172 |
| 8 | 04.03 | Future withdrawal after FV annuity or due | Nothing specific in textbook |
| 8 | 04.04 | FV annuities & due CF | Nothing specific in textbook |
| 8 | 04.05 | FV annuities & due N | Nothing specific in textbook |
| 8 | 04.06 | FV annuities & due R | Nothing specific in textbook |
| 9 | 04.07 | FV annuity or due CF to meet future need | Nothing specific in textbook |
| 9 | 04.08 | Stated & effective annual rates | Chapter 6, section 6.3, pp. 174-176 |
| 10 | 05.01 | Bonds, overview | Ch 7, sec 7.1, p. 202; Ch 1, sec 1.6, p. 19 |
| 10 | 05.02 | Bonds, valuing | Chapter 7, section 7.1, pp. 202 – 205 |
| 10 | 05.03 | Bonds, YTM | Chapter 7, section 7.1, pp. 207 – 210 |
| 11 | 05.04 | Bonds, misc | Ch 7, sec 7.2, 206 – 207 & sec 7.7, 232 – 236 |
| 11 | 06.01 | Stocks, overview | Chap 8, sec 8.2, 257 – 261 & sec 8.3, 261 |
| 11 | 06.02 | Stocks, valuing 1 period | Chapter 8, section 8.1, pp. 246 |
| 11 | 06.03 | Stocks, valuing N periods | Chapter 8, section 8.1, pp. 246 – 247 |
| 12 | 06.04 | Stocks, valuing fixed dividends | Chapter 8, section 8.1, pp. 247 – 248 |
| 12 | 06.05 | Stocks, valuing constant growth | Chapter 8, section 8.1, pp. 248 – 251 |
| 12 | 06.06 | Stocks, valuing nonconstant growth | Chapter 8, section 8.1, pp. 251 – 253 |
| 13 | 07.01 | Criteria, NPV | Ch 9, 9.1, 279 – 282; Ch 11, 11.1, 357 – 359 |
| 13 | 07.02 | Criteria, IRR | Chapter 9, section 9.5, pp. 291 – 297 |
| 13 | 07.03 | Criteria, payback | Chapter 9, section 9.2, pp. 283 – 285 |
| 14 | 08.01 | Relevant CFs, overview | Ch 10, sec 10.1, 319; Ch 10, sec 10.3, 323 |
| 14 | 08.02 | OCF & net income | Ch 10, 10.2, 321; Ch 10, 10.3, 323 – 324 |
| 14 | 08.03 | Sunk costs & side effects | Chapter 10, section 10.2, pp. 320 – 321 |
| 14 | 08.04 | OCF example, sunk costs & side effects | Nothing specific in textbook |
| 15 | 08.05 | OCF, depreciation | Chap 2, 31; Chap 10, 322 – 324 & 328 – 334 |
| 15 | 08.06 | Net working capital | Chap 10, 10.2, 321 & 10.4, 325 – 328, 333 |
| 16 | 08.07 | Capital spending | Chapter 10, section 10.4, 324, 329 – 334 |
| 16 | 08.08 | Analyzing projects, basic example | Chapter 10, section 10.4, pp. 331 – 334 |
| 16 | 08.09 | Analyzing projects, big example part 1 | Chapter 10, section 10.4, pp. 331 – 334 |
| 17 | 08.10 | Analyzing projects, big example part 2 | Chapter 10, section 10.4, pp. 331 – 334 |
| 17 | 08.11 | Analyzing projects, efficiency example | Chapter 10, section 10.6, pp. 337 – 339 |
| 17 | 09.01 | Dollar & percentage returns | Chapter 12, section 12.1, pp. 389 – 393 |
| 18 | 09.02 | Arithmetic average & compound, part 1 | Chapter 12, section 12.5, pp. 411 – 413 |
| 18 | 09.03 | Arithmetic average & compound, part 2 | Chapter 12, section 12.5, pp. 411 – 413 |
| 18 | 09.04 | Nominal & real returns | Chapter 7, section 7.6, pp. 229 – 232 |
| 18 | 09.05 | Sample variance & standard deviation | Chapter 12, section 12.4, pp. 403 – 404 |
| 19 | 09.06 | Expected ret, var, & SD – individual assets | Chapter 13, section 13.1, pp. 428 – 431 |
| 19 | 09.07 | Expected ret, var, & SD – portfolios | Chapter 13, section 13.2, pp. 431 – 433 |
| 19 | 09.08 | Risk premiums | Chapter 12, section 12.3, pp. 401 |
| 19 | 09.09 | Market efficiency | Chapter 12, section 12.6, pp. 415 – 419 |
| 20 | 09.10 | Systematic & unsystematic risk | 13.4, 437 – 438; 13.5, 438 – 441; 13.6, 442 |
| 20 | 09.11 | Beta & systematic risk | Chapter 13, section 13.6, pp. 442 – 445 |
| 20 | 09.12 | Capital asset pricing model (CAPM) | Chapter 13, section 13.7, pp. 450 – 452 |
| 21 | 10.01 | Computing WACC, part 1 | Ch 14, sec 14.1, 466 – 467 & 14.4, 472 – 479 |
| 21 | 10.02 | Computing WACC, part 2 | Ch 14, sec 14.2, 467 – 470 & 14.3, 470 – 472 |
| 21 | 10.03 | Subjective & pure play approaches | Chapter 14, section 14.5, pp. 484 – 486 |
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