Entrepreneurial Financial Management C, 7.5 Credits

Contents

The course is focused on financial management within entrepreneurial firms (EF). An entrepreneurial firm is a young, high growth business, usually with a new technology focus. Entrepreneurial firms differentiate themselves from other forms of organizations through being more innovative, flexible, and adaptable. These firms will be examined at all phases of their life cycles, from initial idea generation to the ultimate harvesting of the venture. The main objective for offering the course is to provide students with an integrated set of concepts and applications drawn from entrepreneurship, finance, and accounting, that will provide a higher understanding of the financial environment in which these firms exist. Taking this course will develop students’ skills in building useful financial management spreadsheet models (e.g. financial forecasts and valuation models) in Excel. The student will also be introduced to current research in the field of entrepreneurial finance.

The course is given and examined in English.

Expected learning outcomes

After completing this course, the student should be able to:

• explain the concepts of entrepreneurial finance and its difference to traditional corporate finance
• determine the financing needs of an entrepreneurial firm
• demonstrate basic skills in building financial forecasts in Excel for an entrepreneurial firm
• explain how different financial resources of an entrepreneurial firm are managed and monitored, as well as, demonstrate an understanding and skills in issues related to the sale of an entrepreneurial firm
• analyze and discuss current research issues in entrepreneurial finance

Required Knowledge

University: Courses in Business Administration (60 ECTS) At Basic level (A-level) and Intermediate level (B-level) a minimum of 60 ECTS in Management, Marketing, Accounting and Finance courses.

Language: Proficiency in English equivalent to Swedish upper secondary course English B (IELTS (Academic) with a minimum overall score of 6.5 and no individual score below 5.5. TOEFL PBT (Paper-based Test) with a minimum score of 575 and a minimum TWE score of 4.5). TOEFL iBT (Internet-based Test) with a minimum score of 90 and a minimum score of 20 on the Writing Section).

Form of instruction

This course takes the form of lectures, discussions, exercises and cases. The core topics of the course will be covered by lectures, seminars and case studies. The students might also meet guest lecturers whose presentations will be examinable. On several occasions, students will be asked to make oral and written presentations of assignments, case studies and term papers. They will be expected to take an active part in classroom discussions, seminars and case studies. Students must be prepared to do a significant amount of work outside the class room in order to fulfill course requirements.

Examination modes

Examination is based upon a written comprehensive individual exam and group assignments. A passing grade is required for each part.

The following grading system is used:
Pass with distinction (Väl godkänd, Vg, 75% or more),
Pass (Godkänd, G, 50% or more)
and Fail (Underkänd U, less than 50%).

To receive the grade Pass with distinction (Väl godkänd) on the course, the student must have achieved that grade at three of the four modules.

In case of failure on seminar participation or individual and group assignments, compensating assignments must be completed in accordance with instructions given, no later than two weeks after the completion of the module.

Students who do not pass the written examination will be offered a re-examination opportunity within a month. Beyond that, additional opportunities to complete the written examination normally arise every academic year one-week prior to the start of the autumn term.

When a student has failed an examination on two occasions, he or she has a right to have another grading teacher. A written request for an alternative examiner should be handed to the director of studies no later than two weeks before the next examination opportunity.

Rules and regulations concerning the production of academic texts and correct referencing will be applicable to all written assignments. (see instructions in the Thesis manual. Thesis writing in Business Administration.) Urkund records may be used for control.

Students who fail to present a photo ID at the occasion of a written examination cannot have their results registered.

Lectures are normally not obligatory. However attendance is expected because the lectures are designed to facilitate students towards achieving course specific learning objectives. In addition lectures often provide insightful explanations of, and can supplement and provide contrast to, the course literature and other relevant course materials.

A student who has passed an examination cannot retake the examination to get a higher grading.

Grades on the course are awarded when students have passed all examinations and compulsory course elements.

Academic credit transfer
Academic credit transfers are according to the University credit transfer regulations.

Other regulations

This is a course at the C-level in a BSc-degree at Umeå University. The course can also be included in study programs in Business Administration and Economics at Umeå School of Business and Economics.