Announcements

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    Spring 2018 Students
  • The syllabus (with information about the book and cases) can be downloaded from the link to the left.
  • This rollover course shows the corresponding spring dates that correspond to the original fall dates. Be aware that there is an Orientation lecture before the start of classes and that spring break is ignored (but, there is a corresponding week off in April that matched Thanksgiving break). MAKE A NOTE OF EXAM DATES - these are set. Although you are able to watch the lectures at your own pace, you should keep up so you are on track for the exams.
  • If you have any questions or if something I say in the lectures does not map to the spring dates correctly, please let me know.


  • Friday, December 8th
  • On-campus students: Last minute questions? I will be available Monday evening, 8 PM until at least 9 PM at Cornerstone Church. Cornerstone Church (2123 Hamilton Road) is open throughout the week for student studying. They have parking, WIFI, refreshments, and a large quiet room with tables and chairs. You do not have to attend Cornerstone to use this study space. I will be there to help with finance questions. Directions can be found at http://maps.google.com/maps?z=16&q=2123+hamilton+rd+auburn,+al+36830.
  • Be aware that roads in and near downtown will be closed off on Sunday afternoon/evening: https://news.auburnalabama.org/article/Office of the City Manager/2311.


  • Thursday, December 7th
  • You did it! You survived the semester. Good luck on the final exam. I will try to get grades turned around as soon as I can.
  • On-campus students: Stay tuned for possible last-minute office hours Monday night. Information will be posted here.


  • Tuesday, December 5th
  • On Thursday, we will discuss the California Pizza Kitchen case and finish our Review for the Final Exam.
  • The Final Exam is Tuesday morning 8:00 - 10:30 AM for on-campus students. For online students, you should schedule 2 1/2 hours with your proctor Monday (12/11) through Thursday (12/14). The exams are due back to me by the end of the day on Thursday, December 14th.


  • Thursday, November 30th
  • On Tuesday, we will continue with Capital Structure and Review for the Final Exam.
  • Office hours on Tuesday (12/5) will be 1 - 3 PM instead of 11 - 12.
  • Next Thursday, we will plan to discuss the California Pizza Kitchen case and finish our review.
  • Here is the Extra Credit Assignment due by midnight (Central time) on Sunday, December 3rd. It involves two separate analyses: one on risk and return and one on financial statement analysis. Be sure to read the directions on the assignment and work through both analyses BEFORE taking the timed quiz on your work that has been posted in Canvas.


  • Tuesday, November 28th
  • On Thursday, we will continue with Capital Structure. Be sure to review what we started in the last class.
  • Next Tuesday, we will plan to discuss the California Pizza Kitchen case.
  • Here is the Extra Credit Assignment due by midnight (Central time) on Sunday, December 3rd. It involves two separate analyses: one on risk and return and one on financial statement analysis. Be sure to read the directions on the assignment and work through both analyses BEFORE taking the timed quiz on your work that has been posted in Canvas.


  • Tuesday, November 21st
  • Here is the Extra Credit Assignment due by midnight (Central time) on Sunday, December 3rd. It involves two separate analyses: one on risk and return and one on financial statement analysis. Be sure to read the directions on the assignment and work through both analyses BEFORE taking the timed quiz on your work that has been posted in Canvas.


  • Thursday, November 16th
  • There is no class next week, including the 21st. Be sure to get caught up. After Thanksgiving, we only have 2 more weeks of classes.
  • On Tuesday the 28th, we will finish Capital Budgeting and begin Capital Structure.


  • Tuesday, November 14th
  • On Thursday, we will continue with Capital Budgeting. Be sure to review what we started in the last class.


  • Thursday, November 9th
  • On Tuesday, we will finish Investment Criteria and begin Capital Budgeting.


  • Tuesday, November 7th
  • On Thursday, we will finish Investment Criteria. Be sure to review what we started in the last class.


  • Thursday, November 2nd
  • On Tuesday, we will begin Investment Criteria.


  • Exam Update
  • 14 questions, 36 points from conceptual material, 66 points from problems.


  • Tuesday, October 31st
  • If you have not already done so, take a moment to complete this brief and anonymous feedback survey about this class. I do this a couple times each semester to get feedback from you about how this course is going from your perspective. After the exam, I will share the summarized results with the class so you can see how everyone feels. However, it is only useful if everyone participates. Please do so BEFORE THURSDAY MORNING.
  • Because of Exam #2, there will be no video on Thursday..
  • Exam #2 is Thursday morning at 7:15 for on-campus students. For online students, you should schedule 2 hours with your proctor Friday (11/3) through Tuesday (11/7). The exams are due back to me by the end of the day on Tuesday, November 7th.


  • Thursday, October 26th
  • If you have not already done so, take a moment to complete this brief and anonymous feedback survey about this class. I do this a couple times each semester to get feedback from you about how this course is going from your perspective. After the exam, I will share the summarized results with the class so you can see how everyone feels. However, it is only useful if everyone participates. Please do so BEFORE THURSDAY MORNING.
  • On Tuesday, we will Review for Exam #2.
  • Exam #2 is Thursday morning at 7:15 for on-campus students. For online students, you should schedule 2 hours with your proctor Friday (11/3) through Tuesday (11/7). The exams are due back to me by the end of the day on Tuesday, November 7th.


  • Tuesday, October 24th
  • On Thursday, we will finish The Cost of Capital.
  • Exam #2 is next Thursday morning at 7:15 for on-campus students. For online students, you should schedule 2 hours with your proctor Friday (11/3) through Tuesday (11/7). The exams are due back to me by the end of the day on Tuesday, November 7th.


  • Thursday, October 19th
  • On Tuesday, we will finish Risk and Return and start The Cost of Capital.
  • Exam #2 is coming up on November 2nd.


  • Tuesday, October 17th
  • On Thursday, we will continue with Risk and Return.
  • Now is a good time to review Bonds and Stocks and get caught up. Exam #2 is fast approaching.


  • Tuesday, October 10th
  • On Tuesday, we will finish Stocks and Their Value and begin Risk and Return.
  • There is no class or video this Thursday, October 12th (Fall Break).


  • Thursday, October 5th
  • On Tuesday, we will finish Stocks and Their Value.
  • There is no class or video on Thursday, October 12th (Fall Break).


  • Tuesday, October 3rd
  • On Thursday, we will discuss Stocks and Their Value.


  • Friday, September 29th
  • On Tuesday, we will finish Bonds and Their Value and begin Stocks and Their Value.


  • Tuesday, September 26th
  • On Friday, we will continue with Bonds and Their Value. Again, this should be the last time we shift classes from Thursday to Friday.


  • Tuesday, September 19th
  • If you have not already done so, take a moment to complete this brief and anonymous feedback survey about this class. I do this a couple times each semester to get feedback from you about how this course is going from your perspective. After the exam, I will share the summarized results with the class so you can see how everyone feels. However, it is only useful if everyone participates. Please do so BEFORE THURSDAY MORNING.
  • Exam #1 is Thursday morning at 7:15 for on-campus students. For online students, you should schedule 2 hours with your proctor Friday (9/22) through Tuesday (9/26). The exams are due back to me by the end of the day on Tuesday, September 26th.
  • There is a 30 minutes recording in Canvas under Wednesday Reviews (in Panopto Recordings) covering the additional practice problems we did not finish in class today.
  • Next Tuesday, we will begin discussing Bonds and Their Value.


  • Friday, September 15th
  • There is a video/lecture for today. It was a make-up class from Tuesday, September 12th (Tropical Storm Irma). We finished up Discounted Cash Flow Valuation and discussed the Ferrari Case.
  • On Tuesday, we will Review for Exam #1 after finishing up the last bit of the Ferrari Case. Here is the link to the Ferrari case spreadsheet.
  • If you have not already done so, take a moment to complete this brief and anonymous feedback survey about this class. I do this a couple times each semester to get feedback from you about how this course is going from your perspective. After the exam, I will share the summarized results with the class so you can see how everyone feels. However, it is only useful if everyone participates. Please do so BEFORE THURSDAY MORNING.
  • Exam #1 is next week. For on-campus students, it is Thursday morning at 7:15. For online students, you should schedule 2 hours with your proctor Friday (9/22) through Tuesday (9/26). The exams are due back to me by the end of the day on Tuesday, September 26th.

    Thursday, September 14th
  • The Ferrari Case will be covered on Friday (Yes, tomorrow). We will finish yesterday's lecture first. Be sure to work the problems at the end of the notes.
  • On Tuesday, we will Review for Exam #1.
  • If you have not already done so, take a moment to complete this brief and anonymous feedback survey about this class. I do this a couple times each semester to get feedback from you about how this course is going from your perspective. After the exam, I will share the summarized results with the class so you can see how everyone feels. However, it is only useful if everyone participates. Please do so BEFORE THURSDAY MORNING.
  • Exam #1 is next week. For on-campus students, it is Thursday morning at 7:15. For online students, you should schedule 2 hours with your proctor Friday (9/22) through Tuesday (9/26). The exams are due back to me by the end of the day on Tuesday, September 26th.

    Tuesday, September 12th
  • There is no class or video today. The University was closed due to Tropical Storm Irma. This class will be made up on Friday, September 15.
  • On Thursday, we will finish Discounted Cash Flow Valuation. Bring your financial calculators and be sure to review what we have covered already before the start of class.
  • The Ferrari Case will be covered on Friday (Yes, Friday. Information is forthcoming).


  • Thursday, September 7th
  • On Tuesday, we will finish Discounted Cash Flow Valuation. Bring your financial calculators and be sure to review what we have covered already before the start of class.
  • More information about the case next Thursday is forthcoming, I promise.


  • Tuesday, September 5th
  • On Thursday, we will continue with Discounted Cash Flow Valuation. Have your financial calculator, and be sure to (1) finish the problem we did not get to and (2) review all of the calculations we did on Tuesday before the start of class. You want to be comfortable with those before we move on.
  • There will be an optional weekly review on Wednesday, 1:30 - 2:30 PM in Lowder 20 (and posted recording). Those of you without a finance background are encouraged to attend (or watch), but be sure to be caught up and have worked the suggest problems through chapter 3 before.


  • Thursday, August 31st
  • On Tuesday, we will finish Forecasting and begin Discounted Cash Flow Valuation. You will need at least a scientific calculator for this. Financial calculators are fine, and we will begin using those in about a week.


  • Tuesday, August 29th
  • On Thursday, we will finish the last slide of Financial Statement Analysis and discuss Forecasting. Be sure to understand the financial statements before the start of class (the material we covered in orientation).
  • Do not forget to email me a short bio, preferably with a picture, and include the city/state you are located.
  • There will be an optional weekly review on Wednesdays, 1:30 - 2:30 PM in Lowder 20 (and posted recording). Those of you without a finance background should make every effort to attend (or watch).


  • Thursday, August 24th
  • On Tuesday, we will finish Financial Statement Analysis.
  • Do not forget to email me a short bio, preferably with a picture, and include the city/state you are located.
  • There will be an optional weekly review on Wednesdays, 1:30 - 2:30 PM in Lowder 20 (and posted recording). Those of you without a finance background should make every effort to attend (or watch).


  • Tuesday, August 22nd
  • On Thursday, we will finish Overview of Financial Management and discuss Financial Statement Analysis. You are expected to review the material from Orientation (Financial Statements) and take/pass the quiz on Canvas before you attend/watch the class.
  • Do not forget to email me a short bio, preferably with a picture, and include the city/state you are located.


  • Welcome to BUSI 7110/7116.
  • There is a course packet available that has all the class notes for the semester. You can purchase it from the Haley Center bookstore (or you can print all 322 pages of it on your own using the link on the left). The bookstore packet is highly recommended. It has been updated and should say Fall 2017. If you do not buy or print it, print and bring a copy of the notes for our orientation session (Financial Statements and Home Depot 2016 Annual Report, as well as the first set of notes (Overview of Financial Management) for the first day of class.
  • You are recommended to have a financial calculator for this course. A regular or scientific calculator will not be sufficient. I recommend either the Hewlett-Packard HP 10bII+ or the Texas Instruments TI BA II Plus. Your calculator should be able to handle uneven cash flows, calculate yield to maturity, and calculate internal rate of return. If you have questions, please contact me. You should be able to find them at Office Depot and Office Max, and perhaps Target or Wal-Mart.
  • Here is the link to subscribe to the Wall Street Journal at student rates.
  • Here is advice from last fall's students.
  • There will be an optional weekly review on Wednesdays, 1:30 - 2:30 PM in Lowder 20 (and posted recording). Those of you without a finance background should make every effort to attend (or watch).


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Course Outline and Notes

Date Agenda
Wednesday,
Aug. 16
(Jan. 9)
Orientation
Financial Statements
Home Depot 2016 Annual Report
Read: Chapter 2
(Sections 2.1 - 2.3, and 2.6)

Date

Agenda

Tuesday,
Aug. 22
(Jan. 11)
Introduction to the Course
and
Overview of Financial Managment
Read: Chapter 1
Thursday,
Aug. 24
(Jan. 16)
Financial Statement Analysis
Read: Chapter 3
(Sections 3.1 - 3.3)
Solution to Home Depot DuPont Analysis
Tuesday,
Aug. 29
(Jan. 18)
More on Financial Statement Analysis
Thursday,
Aug. 31
(Jan. 23)
Forecasting
Read: Chapter 3
(Sections 3.4 - 3.6)
Tuesday,
Sept. 5
(Jan. 25)
Discounted Cash Flow Valuation
Read: Chapter 4
Thursday,
Sept. 7
(Jan. 30)
More on Discounted Cash Flow Valuation
Tuesday,
Sept. 12
(Feb. 1)
Still More on Discounted Cash Flow Valuation
Thursday,
Sept. 14
(Feb. 6)
Case: Ferrari - The 2015 Initial Public Offering
Questions to Prepare
Tuesday,
Sept. 19
(Feb. 8)
Review for Exam #1
Thursday,
Sept. 21
(Feb. 13)
Midterm Exam #1
7:15 - 9:15 AM

Online Students
Monday, Feb. 12 through
Wednesday, Feb. 14
Tuesday,
Sept. 26
(Feb. 15)
Bonds and Their Value
Read: Chapter 8
(optionally, see also Chapter 15)
Thursday,
Sept. 28
(Feb. 20)
More on Bonds and Their Value
Tuesday,
Oct. 3
(Feb. 22)
Stocks and Their Value
Home Depot 2017 Proxy Statement
Read: Chapter 9
(optionally, see also Chapters 14 and 15)
Thursday,
Oct. 5
(Feb. 27)
More on Stocks and Their Value
Tuesday,
Oct. 10
(Mar. 1)
Even More on Stocks and Their Value
Thursday,
Oct. 12
(FREE DAY)
Fall Break
No Class or Office Hours
Tuesday,
Oct. 17
(Mar. 6)
Risk and Return
Read: Chapters 10 and 11
(Sections 11.1 - 11.3, 11.6, and 11.9)
(optionally, see also Chapter 12)
Thursday,
Oct. 19
(Mar. 8)
More on Risk and Return
Tuesday,
Oct. 24
(Mar. 13)
Even More on Risk and Return
Thursday,
Oct. 26
(Mar. 15)
The Cost of Capital
Read: Chapter 13
Tuesday,
Oct. 31
(Mar. 20)
Review for Exam #2
Thursday,
Nov. 2
(Mar. 22)
Midterm Exam #2
7:15 - 9:15 AM

Online Students
Thursday, March 22 through
Monday, March 26
Tuesday,
Nov. 7
(Mar. 27)
Investment Criteria
Read: Chapter 5
Thursday,
Nov. 9
(Mar. 29)
More on Investment Criteria
Tuesday,
Nov. 14
(Apr. 3)
Capital Budgeting
Read: Chapters 6 and 7
(Sections 7.1 - 7.2, and 7.4)
Thursday,
Nov. 16
(Apr. 5)
More on Capital Budgeting
Tuesday,
Nov. 21
(Apr. 10)
(FREE DAY)
Thanksgiving Break
No Class or Office Hours
Thursday,
Nov. 23
(Apr. 12)
(FREE DAY)
Thanksgiving Break
No Class or Office Hours
Tuesday,
Nov. 28
(Apr. 17)
Capital Structure
Read: Chapters 16 and 17
Thursday,
Nov. 30
(Apr. 19)
More on Capital Structure
Tuesday,
Nov. 5
(Apr. 24)
Case: California Pizza Kitchen
Questions to Prepare
Thursday,
Dec. 7
(Apr. 26)
Review for Final Exam
Tuesday,
Dec. 12
(May 1)
Final Exam
8:00 - 10:30 AM

Online Students
Monday, April 30 through
Thursday, May 3

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Exam Information

The exam dates and times are listed above. In-class students are expected to take the exams on those dates and at those times. Distance students are expected to take the exams as indicated once the exams are distributed to your proctors. Should you encounter difficulty that precludes taking the exam by the deadline, you must contact me prior to that deadline and discuss possible arrangements.

If you miss an exam due to illness, you should contact me AS SOON AS you know you will miss the exam and are able to do so. Documentation will need to be provided and must state that you are unable to attend work/school on the day of the exam. Whether you contact me or not, the make-up will be the next business day at 10 AM. If you are still ill and HAVE DOCUMENTATION stating that you are unable to attend work/school on the day of the make-up, the next make-up will be the following business day at 10 AM. You must have a medical excuse for the date of the exam and the date of every make-up you miss. The make-up exam may not be the same format as that given during the regular exam time.

All exams are closed-book. They are to be completed individually. This means no talking, sharing calculators or pens/pencils, etc., and no wandering eyes. You have been warned: do not cheat! The Academic Honesty Code is found in the Student Policy eHandbook.

Exam Date and Location
Exam #1 Thursday, September 21
(Feb. 13)
7:15 - 9:15 AM
Lowder 009

Online Students
Monday, Feb. 12 through
Wednesday, Feb. 14
formula sheet
Exam #2
Thursday, November 2
(Mar. 22)
7:15 - 9:15 AM
Lowder 009

Online Students
Thursday, March 22 through
Monday, March 26

formula sheet
Final Exam Tuesday, December 12
(May 1)
8:00 - 10:30 AM
Lowder 009

Online Students
Monday, April 30 through
Thursday, May 3
formula sheet

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