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Semester: Spring 2021

Class Meeting Days & Time: R 6:30 p.m. – 9:15 p.m.

Class Meeting Location: Face-to-face section meets in BSN 1301; online section meets via MS Teams

Instructor: Scott Besley

Office Location: BSN 3404

Office Hours: W 5 p.m. – 6 p.m. and R 5 p.m. – 6 p.m.; office hours will be held remotely

Phone Number: 813-974-6341

Email: sbesley@usf.edu

Course web page: http://sbesley.myweb.usf.edu/FIN3403/home.html

Course Description

Study of the processes, decision structures, and institutional arrangements concerned with the use and

acquisition of funds by a firm. Includes the management of the asset and liability structure of the firm under

certain and risky situations. The financial decision process will include and recognize the international as

well as domestic aspects of financial management.

Course Prerequisites

Each of the following courses must be completed with a grade of C– or better before taking FIN 3403:

Principles of Managerial Accounting (ACG 2071), Economic Principles—Microeconomics (ECO 2023),

and Economic Principles—Macroeconomics (ECO 2013).

Course Purpose

This is an introductory course in managerial finance in which you should attain a clear, basic understanding

of the essentials of financial decision making. Emphasis is given to the underlying principles of corporate

finance and their effects on the decision-making framework faced by financial managers who are charged

with maximizing shareholders’ wealth. In general terms, the course covers topics related to financing and

investment decisions—that is, how to raise funds and where to invest funds. The focus of the course is to

provide an understanding of the basic tools and techniques required to make informed decisions about

which assets a firm should purchase and how such purchases should be financed. You will find much of the

information provided in this class can also be applied to make informed decisions about your personal

finances.

Course Topics

The general topics/concepts covered in this course include:

• Time Value of Money

• Valuation of Real Assets—Capital Budgeting

• Valuation of Financial Assets—Stocks and Bonds

FIN 3403

Principles of Finance

3 Credit Hours

Section 901, CRN 22280—Face-to-Face Presentation

Section 022, CRN 25014—Online Presentation

Muma College of Business

Tiedemann School of Business & Finance

COURSE SYLLABUS

(Subject to change with notice.)

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• Risk and Rates of Return

• Financial Statement Analysis—Annual Reports, Ratio Analysis, etc.

• Cost of Capital

Student Learning Outcomes (SLOs)

When you finish this course, you should:

• Understand and be able to apply time value of money (TVM) concepts.

• Be able to describe the characteristics and determine the values and returns of both financial assets, such as stocks and bonds, and real assets, such as machines and equipment.

• Be able to conduct financial analyses of a company using key financial statements.

• Understand and be able to determine the cost of the funds (cost of capital) a firm uses.

• Understand risk as it applies to investing and be able to determine the appropriate return associated with a risky investment.

• Apply general financial concepts to formulate solutions to various business issues;

• Recognize actions that maximize the value of a firm;

• Explain how external factors, such as financial markets, affect financial decisions made by the firm.

Required Textbooks and Course Materials

Required Text: Besley/Brigham, CFIN6, 6th Edition (United States: Cengage Learning, 2019).

An electronic version of the textbook is included with a subscription to MindTap. You are required to

subscribe to MindTap for this course.

MindTap: MindTap is an online tool that helps students keep up with course work. A subscription to

MindTap includes both an electronic version of the required textbook and interactive tools that include

assignments, practice quizzes, flash cards, and other learning aids. You will be required to complete graded

assignments on MindTap. The due dates for the graded assignments are shown in the course outline

provided on the last page of this syllabus. The scores you earn on the graded MindTap assignments will be

included as part of the grade you receive for the assignment portion of this course. A discussion as to how

your assignment grade will be determined at the end of the course (semester) is provided later in this

syllabus. The MindTap assignments are described in detail later in the syllabus.

Instructions for accessing MindTap for this course are available at

http://sbesley.myweb.usf.edu/FIN3403/MindTap%20Instructions-s21-901 and 022.pdf. This link is also

posted on Canvas.

To subscribe to MindTap, you must sign on to https://www.cengage.com/dashboard/#/course-

confirmation/MTPP8TLQRP46/initial-course-confirmation (if you get an error after clicking this link, copy

and paste the address into your web browser). If you have used MindTap, CENGAGEbrain.com, or Aplia

for other courses, you already have an account at Cengage Learning. If you do not have an account, you

must create a new account, which takes only a few minutes to complete. The “Course Key” you need to

subscribe to MindTap for this course is MTPP-8TLQ-RP46 (this course key is embedded in the link

provided above).

A subscription to MindTap costs $50, and it includes an electronic version of the textbook, the MindTap

assignments you must complete, and access to all the online tools associated with the textbook; it does not

include a paper (physical) copy of the book. You are not required to purchase a paper copy of the textbook

for this course; you are only required to subscribe to MindTap so you can complete the required assignments

and to access the book electronically to complete the problems assigned from the book. If you would like a

paper copy of the book, you can purchase it for a reduced price (about $30) when you subscribe to MindTap.

http://sbesley.myweb.usf.edu/FIN3403/MindTap%20Instructions-s21-901%20and%20022.pdfhttps://www.cengage.com/dashboard/#/course-confirmation/MTPP8TLQRP46/initial-course-confirmationhttps://www.cengage.com/dashboard/#/course-confirmation/MTPP8TLQRP46/initial-course-confirmation

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You can subscribe to MindTap now on the Cengage.com website and delay payment until January 24,

2020. You can either pay online or purchase an access code at the USF Bookstore and enter the code as

proof of payment prior to the January 24 expiration of the free trial.

You can purchase both an access code to MindTap and a paper copy of the book at the USF Bookstore

for $80. If you choose this option, make sure you purchase a bundled package that includes both the book

and an access code for a subscription to MindTap.

IMPORTANT NOTE: A MindTap subscription is good for one semester only. The Course Key (MTPP-

8TLQ-RP46) is an identification code that must be used for the appropriate subscription to MindTap for this semester. This Course Key is similar to the course reference number you used to register for FIN 3403

this semester. Course keys from previous semesters cannot be used for this semester’s course.

Other Course Materials:

• Pedagogical (Helpful) Materials—useful materials for this course are available on the course webpage, which is located at http://sbesley.myweb.usf.edu/FIN3403/home.html. Everything contained on the

course webpage can be downloaded at no charge. Some (not all) of the items posted on the course

webpage include:

o Comprehensive notes—short, concise explanations and examples of the topics covered in the course.

o PowerPoint presentations—slides used in the online lectures

o Calculator help—shows how to set up a financial calculator and gives examples of how to solve various problems using a financial calculator.

o Exam information—information about the exams, including the dates and the chapters covered and sample questions from exams given in previous semesters.

o Equations/Review sheets—copies of the equation sheets you can use when taking exams and the review sheets you should use to study for exams.

• Recommended supplemental reading: As a student in the Muma College of Business, you should keep current with business and economic information by reading business publications, such as The Wall Street

Journal, BusinessWeek, Fortune, and Forbes, by accessing business news on such Websites as

Bloomberg.com (http://bloomberg.com), CNNMoney.com (http://money.cnn.com/index.html?Cnn=yes),

and msnbc BUSINESS (http://www.msnbc.msn.com/id/3032072/), or by using a combination of these

resources. Clearly you do not have time to read all the articles from each source every day. But, you

should keep informed about current business/economic conditions. Subscriptions for the print media are

available at discounted student rates.

Course Format: This course will be presented both face-to-face and simultaneously online (remotely). The

format of the presentation of the course is similar to a “flipped classroom.” You will be responsible for

watching pre-recorded lectures that are available on Canvas prior to each class meeting. In the live class

meetings, I will summarize and discuss the concepts contained in the pre-recorded lectures, work assigned

problems, and answer questions.

• Online (pre-recorded) lectures: The lectures are pre-recorded; they are available in a variety of formats on the course webpage at http://sbesley.myweb.usf.edu/FIN3403/onlineindex.html; you should watch

the appropriate online lecture(s) prior to the live class meeting in which they will be discussed.

• Live Class Meetings: We will meet live once per week (Thursday evening) face-to-face with a simultaneous live stream of the class meeting online. Students who registered for FIN 3403-901 can

attend the class in person (face-to-face) in BSN 1301. If you registered for FIN 3403-022, which is the

online section of the course, you are not permitted to attend the face-to-face class; you must join the

class online. All students registered in this course can join the class meetings remotely (i.e., online).

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Microsoft Teams, which is available on Canvas, will be used to stream the face-to-face meetings to

students who join online. In the class meetings, we will summarize the concepts covered in the online

lecture(s) you should have watched for that particular class, discuss questions that are posted on Canvas

for each chapter (named Chapter Questions), answer questions about the chapters, and solve the

problems assigned from the textbook. (See the course outline on the last page of this syllabus.)

In this class, software will be used to record live class lectures and discussions. As a student in this

class, your participation in class discussions will be recorded. These recordings will be made

available only to students enrolled in the class, to assist those who cannot attend the live session or to

serve as a resource for those who would like to review content that was presented. Students who prefer

to participate via audio only will be allowed to disable their video camera so only audio will be

captured. Please discuss this option with your instructor.

Student Responsibilities: Your primary responsibility is to be prepared for the class meetings. To get the

most out of this course, you should be present at every class meeting. Much of the understanding of the

material contained in the text and the online lectures will be presented in the class meetings and any

difficulties you have understanding the concepts or solving the assigned problems will be addressed in the

class meetings as well. Therefore, it is important you make every effort to attend all class meetings.

The chapters that will be covered and the end-of-chapter problems for which you are responsible each

class meeting are listed on the course outline included on the last page of this syllabus. It is expected you

have read the assigned chapter, watched the online lecture, and completed to the best of your ability all the

assigned problems from the textbook prior to the class meeting in which the topic will be discussed. In

addition, you are expected to prepare answers to the questions posted on Canvas (named Chapter

Questions) that relate to the material contained in the chapters you are assigned to read. Conscientious

attention to these assignments is essential for satisfactory performance in this course.

Class meetings will be used to clarify, support, and enhance the material presented in the text and in the

online lectures. In each class meeting, we will discuss the concepts described in online lectures and in the

text and we will work problems. Exercises completed in class will help prepare you for the exams; often the

problems covered in class are examples of problems taken from exams administered in prior semesters. If

you miss a class meeting, it is your responsibility to get the information covered during your absence. Each

class meeting will be recorded, and the recording will be posted on Canvas as soon as it is available.

Information given in the class and material from assigned readings and problems will be included on exams.

Attendance normally will not be taken in this class, except to satisfy the first day of attendance

requirement, which will be accomplished online. However, if it appears few students are attending class, in-

class activities/surveys will be assigned that require you to participate during the live presentation, in which

case you will receive credit as part of the overall assignment grade. If such participation is assigned, you

will be notified in advance.

First-day attendance will be conducted online during the first week of class. You will be required to

complete a quiz on Canvas to indicate you wish to remain in the course. If you do not complete the quiz by

the due date, you will be automatically dropped from the class. Instructions concerning the first-day

attendance quiz will be provided in the first class meeting and will be posted on Canvas.

Student Evaluation: You will be evaluated based on your performance on three exams and the scores earn

on assignments you are required to complete. The computation of your average numerical score for the

course will be based on the following weighting scheme:

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Percent of grade

Exam 1—Chapters 1 – 4 23

Exam 2—Chapters 5 – 8 23

Final Exam

Part 1—Chapters 9 – 11 & 16 21

Part 2—Chapters 1 – 8 17

Assignment grade 16

100

The course outline provides the dates the exams will be given.

The plus/minus grading system will be used in this course. Course grades will be based on the weighted

average score you receive for the term using the following grading scale:

95% < A+ 85% < B+ < 87% 75% < C+ < 77% 65% < D+ < 67% F < 57%

90% < A < 95% 80% < B < 85% 70% < C < 75% 60% < D < 65%

87% < A– < 90% 77% < B– < 80% 67% < C– < 70% 57% < D– < 60%

• Administration of the Exams:

o All exams will be administered online via Canvas. More information concerning administration of the exams will be provided in the instructions for the exams before they are posted.

o Online proctoring software named Proctorio will be used to help administer each exam. Following is important information regarding the use of Proctorio and the minimum requirements for the

computer you use to take exams:

All students must review the syllabus and the requirements including the online terms and video

testing requirements to determine if they wish to remain in the course. Enrollment in the course is

an agreement to abide by and accept all terms. Any student may elect to drop or withdraw from this

course before the end of the drop/add period.

Online exams and quizzes within this course may require online proctoring. Therefore, students will

be required to have a webcam (USB or internal) with a microphone when taking an exam or quiz.

Students understand that this remote recording device is purchased and controlled by the student

and that recordings from any private residence must be done with the permission of any person

residing in the residence. To avoid any concerns in this regard, students should select private

spaces for the testing. The University library and other academic sites at the University offer secure

private settings for recordings and students with concerns may discuss location of an appropriate

space for the recordings with their instructor or advisor. Students must ensure that any recordings

do not invade any third-party privacy rights and accept all responsibility and liability for violations

of any third-party privacy concerns. Setup information will be provided prior to taking the

proctored exam. For additional information about online proctoring you can visit the online

proctoring student FAQ at https://www.usf.edu/innovative-education/digital-learning/learn-new-

tool/proctorio-student-faq.aspx.

• Exam Format: The exams will be comprised of a combination of multiple-choice definition/concept questions and multiple-choice problems. The questions and problems are designed to test your

understanding of both fundamental and more complex topics covered in the online lectures and class

meetings and contained in the text. Most of the questions on the exams are structured to test your

understanding of the concepts rather than how well you can work problems or memorize definitions

and other material. As a result, try to understand rather than memorize the concepts presented in class.

If you understand the concepts, you will perform much better on the exams than if you memorize

definitions. Class discussion of the questions that are assigned each week will help you to better

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understand the concepts presented in the book and in the online lectures.

o Exam 1 and Exam 2—Each of these exams consists of 35 or 36 multiple-choice questions and problems that pertain to the material covered in the appropriate chapters and in the lectures. The

chapters covered on each exam are given both in the previous table and in the course outline (on the

last page of this syllabus). These two exams are not cumulative.

o Final Exam—The Final Exam will be administered at the scheduled time during final exam week. This exam is cumulative in the sense that it includes questions on material from all the chapters

covered in the course. However, the Final Exam is divided into two parts: Part 1 covers material

included in the four chapters discussed at the end of the course (Chapters 9 – 11 and 16). Because

you have not been tested previously on this material, the questions and problems that pertain to

these chapters are similar to the questions and problems included on the first two exams; that is,

they are somewhat detailed. Part 2 covers material included on the first two exams (Chapters 1 – 8).

The questions on this part of the exam are more general than the questions included on the first two

exams and on Part 1 of the Final Exam. Each part of the Final Exam contains 26 – 28 multiple-

choice questions and problems. As you can see from the grading scheme given earlier, the Final

Exam has a total weight of 38 percent of the overall course grade, but the two parts of the exam are

weighted differently—Part 1 has a 21 percent weight and Part 2 has a 17 percent weight.

If you earn a score on Part 2 of the Final Exam that is higher than the score you earn on either

Exam 1 or Exam 2, the score you earn on Part 2 of the Final Exam will replace whichever score on

the first two exams (Exam 1 or Exam 2) is lower. In other words, the score you earn on Part 2 of the

Final Exam will count 40 percent of your overall grade in the course if it is higher than one of the

scores earned on the first two exams (17 percent for Part 2 of the Final Exam plus 23 percent for the

exam that is replaced); the score you earn on the other non-cumulative exam will still count 23

percent. If the score you earn on Part 2 of the Final Exam is lower than the scores you earn on

Exam 1 and Exam 2, the score you earn on Part 2 of the Final Exam will count 17 percent of your

overall grade in the course.

You can get an idea as to the types of questions that will be included on the exams by reviewing

the sample exam questions posted on the course webpage at

http://sbesley.myweb.usf.edu/FIN3403/exam.html.

• Excused Absences—Make-Up Exams: “There are two categories of excused absences for which accommodations will be made:

o Scheduled absences involve time conflicts that are known in advance, for which students have notified their instructors. Acceptable reasons for scheduled absences include observation of

religious holy days, court-imposed legal obligations (e.g., jury duty and subpoenas), special

requirements of other courses and University-sponsored events (e.g., performances, athletic events,

judging trips), and requirements of military service. Employment schedules, athletic training and

practice schedules, and personal appointments are not valid reasons for scheduled absences.

o Unscheduled absences involve unforeseen emergencies such as illness, injury, hospitalization, deaths in the immediate family, consequences of severe weather, and other crises. Students should

contact instructors as soon as possible in these cases. Instructors may require documentation or

verification to excuse unscheduled absences.” (Source: University of South Florida Undergraduate

IMPORTANT NOTE: The Final Exam is mandatory—you must take the Final Exam;

otherwise you will receive a failing grade in the course (an F), regardless of the scores you

earn on the two noncumulative exams and the assignment grade. In other words, you must take

the final exam to pass this course.

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Catalog, Academic Year 2020-2021, Academic Policies and Procedures. Link:

https://catalog.usf.edu/index.php?catoid=13)

Most excused absences are known in advance of the particular event. As a result, if you know you will

be absent for an exam due to an excused absence, you must notify the instructor as soon as possible and

provide appropriate documentation prior to the exam. The instructor will make arrangements for

students to take make-up exams if they provide appropriate documentation for approved (excused)

absences. Students who miss exams due to unexcused absences are not eligible to take make-up exams.

If you miss an exam due to an excused absence, you will have the option to take a make-up exam that

covers the same chapters as the exam you missed or you can choose not to take a make-up exam and

have the score you receive on Part 2 of the Final Exam count as the score of the missed exam. If you

miss one of the first two exams due to an unexcused absence, the score you receive on Part 2 of the

Final Exam will be used as the score for the exam you missed. If you miss both Exam 1 and Exam 2

due to unexcused absences, you will receive a failing grade in the course; that is, you cannot pass this

course if you miss the first two exams as the result of unexcused absences. You must take the Final

Exam to pass the course. If you miss the Final Exam due to an unexcused absence or you do not take a

make-up Final Exam as the result of an excused absence, you will receive a failing grade in the course.

Assignments and Quizzes:

• Chapter Questions: Questions that relate to the reading assignments will be posted on Canvas (named Chapter Questions). For the most part, these questions will require fairly short answers (i.e., three to

four sentences at the most). You should write the answers to the questions in your own words (i.e., do

not copy from the book, from the PowerPoint slides, or from online sources). You should have the

written answers to the posted questions completed prior to the class in which the assigned chapter(s) is

scheduled to be covered.

• Assigned Problems from the Textbook: It is expected you have completed to the best of your ability all the assigned problems from the book prior to the class in which the problems will be covered. The

assigned textbook problems are listed in the course outline provided on the last page of this syllabus.

Complete the problems to the best of your ability. At times, a problem could be collected during a class

meeting. Any problem that is collected will be graded (on a 10-point scale) based on the effort and the

work you show rather than whether you get the correct answer. You must show all your work,

including intermediate computations, to receive full credit for any assigned problem you submit. It is

better to show more work rather than less work when solving the assigned problems. The final answer

is worth only one point, which means you will receive only one point if you simply write down an

answer without any supporting computations. You must also label your work to receive full credit. We

will cover the solutions to the assigned problems in the live class meetings.

• Mindap Aplia Assignments: You will be required to complete graded assignments posted on the MindTap platform, which are located in the Aplia Assignments tab. The Aplia assignments are

comprised of questions and problems with various formats; they are formatted as multiple-choice

questions, fill-in-the-blank questions, and true-false questions. Each assignment will be evaluated on a

10-point scale based on the number of questions you answer correctly.

When completing the Aplia assignments, you must choose from two options after answering each

question:

o Grade It Now—If you select this option, your answers will be graded immediately, you will be shown which parts of the question you answered correctly and which parts you answered

incorrectly, you will receive a score (grade) for the question, and you will be provided feedback that

relates to the answers. Once you see the feedback for the question, you can choose to “Try Another

Version” of the question. If you select this option, a different question related to the same topic

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(subject) will be generated for you. You can then provide answers to the new question, have the

answers graded immediately, and receive feedback for the new question. You can repeat this

process one additional time; that is, you can use the “Grade It Now” option a total of three times. If

you use this option, the scores you earn for each attempt will be averaged to determine your final

score for the question in the assignment. For example, if you use the “Grade It Now” option three

times for a particular question and earn scores of 0.9, 0.4 and 0.5, the final grade you will receive

for that question will be 0.6 = (0.9 + 0.4 + 0.5)/3

o Save & Continue—If you select this option, your answers for the question will be saved. The answers will not be graded until either you select the “Grade it Now” option at a later time or the

assignment’s due date and time have been reached. With the “Save & Continue” option, you can go

back to the same question and change your answers whenever you want and as many times as you

want prior to the due date and time. Once you select the “Grade It Now” option described earlier,

however, you can no longer change your answers for the question, because your answers are graded

immediately when you use that option.

To perform well on each Aplia assignment, it is recommended that you (1) start the graded assignment

immediately after reading the appropriate chapter, which you should complete prior to class in which

the chapter will be discussed, and select the “Save & Continue” option when you finish each question;

(2) attend class; (3) review your answers for the graded assignment after attending the class in which the

chapter is covered, because similar problems and questions will be discussed in class; and (4) change

your answers for the questions as needed. Once you are satisfied your answers are correct, you can

either (1) select the “Grade It Now” option and repeat this process two more times if necessary or (2) do

nothing, which means your answers will be graded once the assignment’s due date (and time) has

passed. Other than the due date, there is no time limitation for the Aplia graded assignments; you can

spend as much time as you need/want on any question or any particular assignment.

See the course outline for a list of the due dates for all the Aplia assignments.

• Chapter Quizzes: Quizzes that cover assigned reading material will be administered on Canvas. The purpose of the quizzes is to ensure you are keeping up with the reading assignments. Each quiz will

include 10 multiple-choice questions, each worth one point. The questions will include definitions and

fairly simple concepts covered in the material presented in the chapters you are assigned to read. Once

you start a quiz, you will have 30 minutes to complete it. The dates the quizzes are due are provided on

the course outline at the end of this syllabus.

IMPORTANT NOTE: The questions given on the quizzes are not representative of the questions you

will see on the exams. The questions on the quizzes are not intended to test your understanding of the

concepts; rather they are intended to ensure you keep current with the reading assignments. As a result,

the quizzes have questions that are mostly oriented toward definitions, whereas many of the questions

on the exams are designed to test your understanding of the important financial concepts. You can

get an idea as to the types of questions that will be included on the exams be reviewing the sample exam

questions posted on the course webpage at http://sbesley.myweb.usf.edu/FIN3403/exam.html.

• In-Class Activities: As noted earlier, at times, in-class activities/surveys will be assigned that require you to participate during the live presentations. The scores you earn on these activities will be included as

part of your overall assignment grade. If such participation is assigned, you will be notified in advance.

• Assignment Grade: Each assignment and quiz will be graded using a 10-point scale. At the end of the course (semester), the overall assignment grade you receive for the course will be based on the highest

85 percent of all the scores you receive for the combination of the graded MindTap assignments, the

chapter quizzes, problems collected in the class meetings, and any other graded assignments given in the

course. In other words, the lowest 15 percent of your scores on the graded assignments and quizzes for

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the entire course will be dropped before determining the overall average score you receive for the

assignment portion of the course. For example, if 40 MindTap assignments, chapter quizzes, and other

class assignments are graded during the semester, the highest 34 grades will be used to compute your

overall assignment score. You will receive a score of zero (0) for any assignment you do not submit.

The reason some of the assignments/quizzes scores are dropped is to mitigate those situations in

which you miss a class meeting, whether you were absent as the result of a valid excusable reason or

for any other reason. You should be able to complete all the MindTap assignments and chapter quizzes,

because they are administered electronically and you have multiple days to complete these assignments

and quizzes. You should start the MindTap assignments and chapter quizzes as soon as possible—do

not wait until the last minute to start these assignments. If you are unable to complete an assignment

because you start it at the last minute or you have connectivity issues due to a computer problem,

electrical outage, or any other reason, the assignment will not be restarted for you. The due date for an

electronic assignment will be adjusted only if Cengage Learning or Canvas experiences an extended

problem (outage). You will be notified via e-mail if the due date for an assignment is changed.

If you keep up with the assignments, you should receive a fairly high score for this portion of your

overall course grade. However, if you do not complete any of the graded assignments and quizzes, you

will receive a score of zero for 16 percent of your overall grade in the course. To illustrate how this can

affect the grade you receive in this course, suppose that the average score you receive on all the exams is

78.6, but you do not complete any of the quizzes and assignments. Even though the 78.6 average on the

exams is a B– according to the grading scheme given earlier, you would receive a D+ in the course.

Why? The grades on the exams, which averaged 78.6, represent only 84 percent of all course

requirements; the grade you receive for the required assignments represents the remaining 16 percent of

your grade. As result, in this case, you would receive a grade of zero (0) for 16 percent of your overall

grade in the course and a grade of 78.6 for the remaining 84 percent of your overall grade. Thus, the

overall average for the entire course is 66.02 = 78.6(0.84) + 0(0.16), which is a D+.

Extra Credit: You will have the opportunity to earn extra credit points by submitting various problems

assigned during the semester. A total of 12 problems (one from each chapter covered in the course) will be

assigned throughout the semester. Any solutions you submit will be graded (on a 10-point scale) based on

the process you show to solve the problem accurately; accuracy does count. You must show and label all

your work, including intermediate computations, to receive full credit for any problem you submit. It is

better to show more work rather than less work when solving problems. The final answer is worth only one

point, which means you will receive only one point if you simply write down a correct answer without any

supporting computations.

The extra credit points you can earn are based on the sum of the scores you earn on the assignments you

submit. The maximum number of points you can earn is 120; 12 assignments, each worth 10 points, will be

assigned. You must earn a minimum of 80 points on all your submissions to receive any extra credit points,

which means you must earn at least 6.7 points on each assignment if you submit all 12 assignments, you

must earn 10 points on each assignment if you submit only eight (8) assignments, or you must earn sufficient

points on each assignment if the number of assignments you submit is between eight and 12 so the sum is at

least 80 points. Following is the breakdown of points you can earn with this extra credit (EC) opportunity:

Sum of Points on EC Points

Submitted Assignments Awarded

108 – 120 12

93 – 107 10

80 – 92 8

Below 80 0

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This is the only opportunity to earn extra credit that is available to you in this course.

Other Course Information:

• Try to understand rather than memorize the material presented in this course. Understanding the concepts is more important than being able to work problems—that is, understanding the meaning of

the results generated by a computation is more important than the computation itself. For this reason,

most of the questions on the exams are concept questions that test your understanding of the material

rather than problems that test your ability to complete computations or questions that test your ability

to memorize.

• If you have difficulty grasping the material in this course, do not wait until just before an exam to seek help; by then it generally is too late. Questions are encouraged in this course; so ask as many as you

want! Please get help when you have questions about the material. Understanding the material covered

in this course will benefit you in other business courses as well.

• Solutions to assigned problems will be provided in the class meetings. The solutions will NOT be posted online (either on Canvas or on the course webpage). If you miss the class in which solutions are

provided, it is your responsibility to get the solutions you missed from a fellow student. Each class

meeting will be recorded, and the recording will be posted on Canvas as soon as it is available.

• You are not required to memorize equations given in class or included in the text. For each exam you will be able to use a formula sheet that contains all the equations you need to solve the problems. The

equation sheets are posted on the course website so you can examine them prior to the exams. The link

to the equation sheets is: http://sbesley.myweb.usf.edu/FIN3403/eqn.html

• If you don’t already have one, you should consider purchasing a financial calculator to use in this course. It is not mandatory to have a financial calculator, but having one will help you tremendously

when working the problems in the assignments and on the exams. Although many of the illustrative

problems contained in the text are solved using a Texas Instruments BAII PLUS calculator, any

financial calculator will suffice. You will not be able to use a programmable calculator, a graphing

calculator, the calculator function on your cell phone, or interest tables when taking the exams.

• All assignments, quizzes, exams, and other work you submit should be completed individually. There are no group projects in this course. The work you submit should be your own. You may not use

websites that enable cheating, such as by uploading or downloading material for this purpose. This

policy applies specifically to CourseHero.com – any use of this website (including uploading

materials) constitutes a violation of the academic integrity policy. Neither plagiarism nor cheating will

be tolerated! See https://catalog.usf.edu/content.php?catoid=13&navoid=1578#academic-integrity for

the ramifications of academic dishonesty. (Source: University of South Florida Undergraduate

Catalog, Academic Year 2020-2021, Academic Policies and Procedures)

• Late work is not accepted in this class.

• Be courteous to your fellow students. If you have a cell phone, a pager, or any other electronic device that has an audio notification system, please turn off the device while in class. Unless we are using the

MindTap Mobile App, you should not use your phone during class; that is, do not text, tweet, e-mail, or

carry on other communication activities during class. If it appears you are on your phone for any

reason other than required course work, you could be called on to answer questions related to the

material being covered in class.

• The specific dates the exams will be given are shown on the course outline on the last page of this syllabus. You must take the exams on the dates given in the course outline and at the times stated

when the exams are posted.

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• Exam grades and the scores for the chapter quizzes will be posted on Canvas during the semester. Although I will attempt to sync MindTap with Canvas so your Aplia scores post on Canvas, the syncing

does not always work correctly. But, you can view the scores you earn on the MindTap assignments on

the MindTap platform. It is your responsibility to keep a record of the individual assignment grades for

yourself. Your final assignment grade will be posted on Canvas at the end of the semester.

• You can communicate with other students in your section by using the e-mail function available on Canvas. Please use the e-mail function for class purposes only. Do not spam your peers by advertising

books for sale, jobs, requesting help with surveys or assignments from other courses, and so forth. If you

abuse the e-mail function, your e-mail privileges will be terminated.

• You are encouraged to take notes and are permitted to tape the lectures in this course for personal use only. You do not have permission to sell or profit in any manner from use of the notes or the recordings

from the course. The USF policy, including restrictions regarding the use of course notes and

recordings as well as ramifications for violating the policy, can be found at

https://catalog.usf.edu/content.php?catoid=13&navoid=1578#course-notes-and-recording. (Source:

University of South Florida Undergraduate Catalog, Academic Year 2020-2021, Academic Policies

and Procedures)

• The last day to withdraw from this course without academic penalty is March 27, 2021.

• You have a few chances to improve the grade you earn in this course before the final course grade is determined (assigned). (1) You can earn extra credit points. (2) If you earn a score on the Part 2 of the

Final Exam that is higher than either the score you earned on Exam 1 or the score you earned on Exam

2, the score on Part 2 of the Final Exam will count 40 percent of your overall grade in the course. (3) If

you put the appropriate time and effort into completing the assignments, you should earn an overall

assignment grade of 90 or higher. Take advantage of these opportunities.

After the course has been completed and your grade for the course has been computed at the end of

the semester, there will be no additional opportunities to improve your grade, no matter how close

you are to the next higher grade. Once all course requirements have been completed, no additional

work can be completed to improve your grade; so, please don’t ask.

• Students should let their instructor know when links to course materials do not work or other technological difficulties are encountered. Do not assume someone else will report the problem(s).

• Incomplete grades are given only in situations where unexpected emergencies prevent a student from completing the course. “An incomplete may be awarded to an undergraduate student only when a small

portion of the student’s work is missing and only when the student is otherwise earning a passing grade.”

(Source: University of South Florida Undergraduate Catalog, Academic Year 2020-2021, Academic

Policies and Procedures. Link: https://catalog.usf.edu/content.php?catoid=13&navoid=1578#grading-

policies)

Important University/College Policies: Information regarding most USF policies that affect

undergraduate students can be found in the 2020-2021 Undergraduate Catalog, which can be accessed

online at http://ugs.usf.edu/catalog/. Policies about disability access, religious observances, academic

grievances, academic integrity and misconduct, academic continuity, food insecurity, and sexual

harassment are governed by a central set of policies that apply to all classes at USF. These can be accessed

at: https://www.usf.edu/provost/faculty/core-syllabus-policy-statements.aspx.

Following are some additional policies you should understand:

• General attendance policy: University of South Florida Undergraduate Catalog, Academic Year 2020-2021, Academic Policies and Procedures. Link:

https://catalog.usf.edu/content.php?catoid=13&navoid=1578#general-attendance).

https://catalog.usf.edu/content.php?catoid=13&navoid=1578#course-notes-and-recordinghttps://catalog.usf.edu/content.php?catoid=13&navoid=1578#grading-policieshttps://catalog.usf.edu/content.php?catoid=13&navoid=1578#grading-policieshttp://ugs.usf.edu/catalog/https://www.usf.edu/provost/faculty/core-syllabus-policy-statements.aspxhttps://catalog.usf.edu/content.php?catoid=13&navoid=1578#general-attendance

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• Suspension of operations at USF should not affect your ability to complete MindTap assignments and chapter quizzes, because both are administered remotely. As a result, you should ensure the MindTap

assignments and Canvas quizzes are completed by the due dates unless advised otherwise. For

additional guidance on emergency protective actions and hazards that affect the University, please visit

https://www.usf.edu/administrative-services/emergency-management/

Covid-19 Procedures

“The health and safety of students, faculty, staff, and visitors on our campuses is our top priority. In

response to the current COVID-19 pandemic, the USF community will be working together to comply with

recommended health and safety standards, to optimize the learning experience while minimizing health

risks. The Conduct Expectations for all members of the community may be accessed at Conduct Expected

to Support USF Health and Safety Standards.” Faculty Guidance and Advice for Spring 2021, page 25.

“It is everyone’s responsibility to make sure all mitigation measures, including the wearing of face

coverings, are followed at all times. Should a student observe that another individual in a classroom is not

wearing a face covering whether that be another student, a staff person, or the instructor, the student has the

right and responsibility to call this to the attention of the instructor. If the student is not comfortable doing

so, or if the instructor responds in a negative or disinterested manner, the student has the right and

responsibility to leave the classroom. The student should report the incident to the dean of the college or the

dean of students and can be assured that there will be no academic repercussions for so reporting.” Faculty

Guidance and Advice for Spring 2021, page 33.

All students must comply with university policies and posted signs regarding COVID-19 mitigation

measures, including wearing face coverings and maintaining social distancing. Failure to do so may result

in dismissal from class, referral to the Student Conduct Office, and possible removal from campus.

Important Dates to Remember: Not all holidays listed affect this class.

• Martin Luther King, Jr. Day Monday, January 18

• Exam 1 Thursday, February 18

• Exam 2 Thursday, March 25

• Withdrawal deadline Saturday, March 27

• Last day of on-campus classes Friday, April 9

• Spring Break Monday, April 12 – Sunday, April 18

• Last day of classes Friday, April 30

• Final Exam Thursday, May 6

IMPORTANT NOTES:

• All times given for deadlines for assignments, quizzes, exams, and other course materials are stated as the Eastern time zone in the United States; that is, either EST or EDT, whichever is appropriate.

• Beginning Monday, April 19 (i.e., following spring break), all USF courses, including FIN 3403, will be offered remotely only. In other words, the last two weeks of class and the final exam will be

presented remotely.

• We must remain flexible with regard the presentation of the course. Circumstances might require the course to be offered remotely at any time during the semester. If this happens, nothing in this course

will change other than the face-to-face portion of the course will no longer be available.

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Steps to take to be best prepared for this course:

1. Read the chapter and watch the appropriate online lecture(s) prior to the date the chapter material and the assigned problems from the chapter are scheduled to be covered in class.

a. Write down questions you have from the reading assignment.

b. Cross through questions on your list for which you find answers in later portions of the reading assignment.

2. Complete the chapter quiz posted on Canvas.

3. Answer the questions relating to the reading material that are posted on Canvas (named Chapter Questions). Do the best you can to provide a brief, but complete answer for each

question. You should answer the questions using your own words; do not copy from the

book, from the PowerPoint slides, or from online sources. When writing your answers,

you should use proper grammar, spelling, and sentence structure.

4. Work the problems assigned from the textbook.

a. Do the best you can to solve each problem correctly. Some of the problems are similar to the examples contained in the chapter; other problems are similar to examples

contained in the comprehensive notes posted on the course webpage, which can be

accessed at http://sbesley.myweb.usf.edu/FIN3403/notes.html.

b. FINISH each assigned problem, even if you are not sure whether you are working it correctly. Show all your work; in fact, show more work than you think is necessary.

5. Start the MindTap Aplia assignment for the assigned chapter. At this point, you should use the Save & Continue option after answering each question.

6. Attend class.

a. Be prepared to discuss your answers to the questions posted on Canvas that relate to the assigned reading material.

b. Ask any questions from your list of questions you were not able to answer for yourself or for which you feel you need additional understanding.

c. As solutions to the problem are covered, make necessary corrections to your work. If you do not understand the solutions or the interpretations of the results, ask questions.

7. After attending the class meeting in which the material is covered from a particular chapter in the book, review the MindTap Aplia assignment for the chapter you started earlier. As

long as you used the “Save & Continue” option when you started the Aplia assignment,

you can change any of the previous answers you think are incorrect. When you believe

you have provided correct answers to a question, you can use the “Grade It Now” option to

see which answers are incorrect and to receive feedback for all of your answers.

8. Because the material presented later in the course builds on material presented early in the course, it is important you ask questions about concepts you do not fully understand as

soon as you know you have difficulty with the material. Do not wait until just before the

exam to ask question; at that point, it generally is too late to fully understand the concepts

before taking the exam.

http://sbesley.myweb.usf.edu/FIN3403/notes.html

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Principles of Finance

FIN 3403-901 & 022

Spring 2021

Course Outline

(Subject to Change/Adjustment)

MindTap Assignments & Canvas Quizzes Date: Subject/Topic Chapter Problemsa (Due dates are in the parentheses)b

Jan 14 Introduction to the FIN 3403 An Overview of Managerial Finance 1 Jan 21 An Overview of Managerial Finance 1 5,6,13 Quiz 1—Syllabus Material (F 1/22) Analysis of Financial Statements 2 7,8,13,18 Jan 28 Financial Markets, Institutions, and 3 3,13,20 Quiz 2—Chapters 1 & 2 (T 1/26) the Investment Banking Process Aplia assignment—Chapter 1 (Su 1/31) Feb 4 Time Value of Money 4 7,10, Quiz 3—Chapter 3 (T 2/2) Aplia assignment—Chapter 2 (Su 2/7) Feb 11 Time Value of Money 4 14,22,23 Quiz 4—Chapter 4 (T 2/9) Exam 1 Review Aplia assignment—Chapter 3 (Su 2/14) Feb 18 EXAM 1—Chapters 1 – 4 Aplia assignment—Chapter 4 (T 2/16) Feb 25 The Cost of Money (Interest Rates) 5 3,8,15,16 Quiz 5—Chapter 5 (T 2/23) Mar 4 Bonds—Characteristics & Valuation 6 7,11,18 Quiz 6—Chapter 6 (T 3/2) Aplia assignment—Chapter 5 (Su 3/7) Mar 11 Stocks—Characteristics & Valuation 7 1,9,15 Quiz 7—Chapter 7 (T 3/9) Aplia Assignment—Chapter 6 (Su 3/14)

Mar 18 Risk and Rates of Return 8 2,5,8,13,18 Quiz 8—Chapter 8 (T 3/16) Exam 2 Review Aplia Assignment—Chapter 7 (Su 3/21) Mar 25 EXAM 2—Chapters 5 – 8 Aplia Assignment—Chapter 8 (T 3/23) Apr 1 Capital Budgeting Techniques 9 4,16,19,20 Quiz 9—Chapter 9 (T 3/30) Apr 8 Project Cash Flows and Risk 10 10,12,16,19 Quiz 10—Chapter 10 (T 4/6) Aplia Assignment—Chapter 9 (Su 4/11) Apr 15 Spring Break—NO CLASS Apr 22 The Cost of Capital 11 2,9,14,19 Quiz 11—Chapter 11 (T 4/20) Aplia Assingment—Chapter 10 (Su 4/25) Apr 29 Financial Planning and Control 16 3,10,18,20 Quiz 12—Chapter 16 (T 4/27) Final Exam Review Aplia Assignment—Chapter 11 (R 4/29) Aplia Assignment—Chapter 16 (Sa 5/1) Quiz 13—Syllabus Material (Su 5/2)

May 6 FINAL EXAM; Thursday, May 6, 5:30 p.m. – 7:30 p.m.; Chapters 1 – 11 & 16

a Refer to the Problems section at the end of the chapter. b The MindTap (Aplia) assignments and Canvas quizzes must be completed online. The deadlines for completing the assignments and quizzes are contained in the parentheses. Note the due dates do not align with the dates the class meets.