RYERSON UNIVERSITY School of Business Management

FIN ENT 510, Fall 20102011 Entrepreneurial Finance for Entrepreneurs

Class Time: Tuesday 10:00 am to 1:00 pm Office Hours: Tuesday 1:00 pm to 2:00 pm or by appointment Instructor: Scott Anderson e-mail: s2anders@ryerson.ca Office: RBB 1-079

Office Ph #: 979-5000 ex 6714

Course Objectives and Description
This course builds upon what you have learned in Finance 300 and Finance 401. The course will focus on the financial issues that are of particular significance to the entrepreneur. For instance, we will examine in detail the entrepreneur¶s choices for the form of her business. The course will also examine the financial skills that are necessary for an entrepreneur to succeed. For instance, we will consider how entrepreneurs can most efficiently raise funds for their businesses. This course will build upon the concepts and techniques that students mastered in Finance 300 and Finance 401. It will examine these concepts in more depth and from a different perspective: that of the entrepreneur.

Course Materials
Required Text: Entrepreneurial Finance, Third Edition, J. Chris Leach and Ronald W. Melicher, South-Western, 2009 (LM) and Venture Capital and Finance of Innovation, Andrew Metrick (M). Required: Daily reading of the Financial Post or Globe and Mail. Required: A financial calculator. A financial calculator may be very helpful.

Other materials will be handed out in class, put on reserve in the library, placed on Blackboard or will be available off the web, including the textbook website.

Student Evaluation - There will be one term midterm examtest, worth 3020% of the total grade. The term test will be done in class. There will be a final exam worth 570% of the total grade. Material covered in class, along with materials assigned from the text or otherwise assigned will be examinable. Sometimes material taught in class is not covered in the text, and vice-versa. Students will also have 3 short assignments, each worth 10%. During the term, students will be assigned problems and cases for which they are expected to prepare solutions. The students will be expected to discuss their solution with their classmates. Class contribution also involves attending class, listening attentively and asking thoughtful questions. 1

Formatted: Indent: First line: 0"

Course evaluation will be as stated. you will need to write the final exam at a later date. discussions and problem solving. I will try to draw on whatever material has been assigned for that class. 2 . and because concepts discussed in the materials will be developed in class. and if you produce the necessary doctor's certificate. Students who do not attend the final exam will receive a grade of zero. please contact me to tell me so. I do expect that you will be on time when you attend class. and produce the necessary doctor's certificate. Class Preparation . Please note that the topic order will be as stated below. but if we get off schedule. the dates may get backed up. You will find that I encourage questions or answers from my students. Regulations concerning conduct during tests and exams are contained in the Code of Student Conduct and the Ryerson Calendar. For the term test and the final exam you may use one 8. The assistance sheet may contain any material that you may find useful. If you do not attend the final exam.A make-up test will not be given. If students do not attend the term test. you know beforehand that you will not be on time for class. I reserve the right to add or subtract readings and other forms of class preparation from the above schedule. and problem solve. analyse. for any reason. I advise you to attend class since material covered in class may not be otherwise covered in the materials. Method of Instruction . Personal computers are not permitted.I hope that you will find that any and all readings. not memorize. the final exam will account for 7100% of the student¶s final grade. I will assume that you have prepared for your classes. If. evaluate. and problems assigned for class will be helpful to you during that class. You must put your name and student number on the assistance sheet and hand it in at the end of the exam. I will encourage you to think. Students who do not attend the term test will receive a grade of zero for that test unless they produce a doctor's certificate attesting to their inability to attend the test. cases.A combination of lectures. and I invite you to come to me during office hours if you have had any problems with the preparatory material. in order to pass this course.5 * 11 assistance sheet.

when you send me an e-mail you should include in the subject line of your e-mail message the following: Finance 510. 3 . Section 011. Therefore. (subject) For instance the subject line of your e-mail may read: Finance 510. I will not be responding to student¶s e-mails in the evenings or on the weekends. need help with Chapter 15. it will be necessary to get the notes from a classmate. Fall 2010. Instead I will make extensive use of the whiteboard. If you miss a class.Course Management: I will generally not use any slides or overheads. I will only open e-mails that come from a Ryerson Account and include information about the content of the e-mail in the subject line. or drop by and see me at the office. In addition. Each week students should be doing the quiz questions. Problem 20 I will try to respond to student¶s e-mails within 2 business days. If after attempting the questions or problems you are having difficulties please come and see me. and the questions and problems for each chapter of the textbook on their own after class. Fall 2010. If you have not received a response within 2 business days please send me a follow-up e-mail. The class schedule is tentative and subject to change. Section 011.

M: Chapter 23. LM Chapter 1. Qs 1 to 4 Additional Questions as assigned. Qs 1 to 4 2. Qs 1 to 7 Additional Questions as assigned Binomial Option Pricing Key Elements of a Business Plan 1. Qs 1 to 4 2. Qs 1 to 9. LM Chapter 2. M Chapter 24. LM: Chapter 3. M Chapter 22. tbd Additional Questions as assigned Real Options: Why they are important. M refers to µVenture Capital'. 21 4 Sept 28 5 Oct 5 6 Oct 12 Financial Forecasting and Assessing Financial Needs Readings and Questions: 1. Qs 1 to 8 Additional Questions as assigned Financing a New Venture and Game Theory Readings and Questions: 1. Readings and Questions: 1. M Chapter 13.Fall 2010 Please note: LM refers to `Entrepreneurial Finance'. Week 1 Date Sept 7. 2. M Chapter 21. Qs 1 to 4 2. 3 Sept 14.Course Outline and Schedule . Qs 1 to 10.Fin 510 . Topic and Textbook Material Introduction to Finance 510 The Six Most Important Concepts in Finance How does entrepreneurial finance differ from corporate finance Introduction to Options 1. Chapter 5. Additional Questions as assigned 4 . Qs 1 to 4 2. LM: Chapter 4 and Chapter 5 LM: Chapter 4.

LM: Chapter 6 Qs 1 to 10 Additional Questions as Assigned Mid-term Valuation Introduction Readings and Questions: 1: LM: Chapter 7 Qs 1 to 15 and Chapter 9. Chapter 7 and Chapter 8 Additional Questions as Assigned Other Financing Alternatives and Security Structures Readings and Questions 1. M: Chapter 2 Qs 1 to 4. Chapter 3 Qs 1 to 3. LM: Chapter 11 Qs tbd 2. Qs 1 to 4 Additional Questions as Assigned 11 Nov 16 Professional Venture Capital Readings and Questions 1. LM: Chapter 12 Qs 1 and 2 and Chapter 13 Qs 1 to 16 2. Qs 1 to 7 Additional Questions as Assigned 8 9 Oct 26 Nov 2 10 Nov 9 Valuation Continued 1: LM: Chapter 10 Qs 1 to 11 2: M: Chapter 17.7 Oct 19 Financial Planning Short Term and Long Term Readings and Questions 1. M: Chapter 9 Qs 1 and 2 and Chapter 16 Qs 1 to 4 Additional Questions as Assigned 12 Nov 23 5 .

impersonation.ca/acadcouncil/current/pol60. Class Preparation: It is assumed that you will prepare by reading the assigned chapters before you come to class. If you are unable to solve the assigned problems please drop by and see me and we will go over the problem. evaluate. Every effort will be made to manage the course as stated.ryerson.ryerson. ACADEMIC INTEGRITY: y Students are required to adhere to all relevant University policies. students will be advised and alterations will be discussed prior to implementation. Students should review the guidelines regarding academic misconduct 6 . You are advised to attend class and to ask questions since the concepts discussed in the reading material will be developed in class. adjustments may be necessary during the term at the discretion of the instructor.13 Nov 30 Exit and Turnaround Strategies Review Readings and Questions 1. Students are responsible for all of the problems at the end of the chapters.pdf o Student Code of Non-Academic Conduct:  http://www. and problem-solve. However. Answers to assigned questions will not be posted on Blackboard. Students will be informed of any alterations by email and/or announcements on blackboard. not memorize. University regulations concerning unacceptable academic conduct (cheating. Refer to the following online documents: o Student Code of Academic Conduct:  http://www. such as the Student Code of Academic Conduct. material covered in class may not be otherwise covered in the reading materials.) will be followed.pdf for more explanation.ca/acadcouncil/current/pol61. If so.ryerson. etc. plagiarism. Also.ca/acadcouncil/studentrights.pdf o Statement of Student Rights and Responsibilities:  http://www. y Plagiarism is a serious academic offence and penalties range from zero in an assignment all the way to expulsion from the university. analyse. LM: Chapter 14 Qs 1 to 7 and Chapter 15 Qs 1 to 5 Additional Questions as Assigned TEACHING METHODS: This course is taught using a combination of lectures and problem solving. The goal is to encourage you to think.

at which time they may apply for reinstatement to a program. EVEN IF THEY ARE IN YOUR OWN WORDS. in footnotes and bibliographies. calculations. data. arguments. without instructors¶ approval. except in the case of team projects arranged for and approved by the course instructor..ryerson. whichever comes first. and an instructor may assign an ³F´ in the course. Disciplinary Withdrawn standing (DW) shall be permanently noted on students¶ academic records and official transcripts. Students will have the notation Disciplinary Notice (DN) placed on their academic record and official transcript. Expulsions shall be permanently noted on students¶ academic records and official transcripts. whether from written materials. plagiarism occurs when one offers as one¶s own work the words. it is considered plagiarism. Students who commit academic misconduct a second time shall be placed on Disciplinary Suspension (DS) for up to two years. you may undergo a petition process to have it removed in your last year. or for eight (8) years. (See the Ryerson Library for APA style guide references: http://www. Students who have committed academic misconduct will. In any academic exercise. is also considered plagiarism. students must credit with footnotes or in-text references all facts and ideas that are not their own. at a minimum receive a ³0´ on the work. The Academic Integrity Seminar may also be assigned.visit the Academic Integrity website for more information at http://www. If you receive this in the first half of your program. interviews or electronic networks. or for eight (8) years. In addition to citing quotations from all sources.ca/library/ref/style.ca/academicintegrity.html) y It is assumed that all examinations and work submitted for evaluation and course credit will be the product of individual effort. Submitting the same work to more than one course. The notation shall remain until the students graduate. If you do not. ideas. y y y y 7 .ryerson. designs or productions of another without appropriate attribution or when one allows one¶s work to be copied. The notation shall remain until students graduate. whichever comes first. They should ensure that they understand the conventions for referencing sources. The designation DS shall be placed on their permanent academic record and official transcript.

if circumstances warrant.ca/acadcouncil/current/pol134. If a student attempts to drop the course. test.o NOTE: Students may not drop a course when they have been notified of the suspicion of academic misconduct. It is the student¶s responsibility to notify and consult with either the instructor.pdf. students may be asked to provide alternate photo identification.ryerson. See www.ryerson. Security may be called. If it is suspected that the identification is not valid.pdf.ryerson. or exam has not been appropriately graded must review their concerns with their instructor 8 . or the Chair/Director of the teaching department/school. An appeal may be filed only if the issue cannot be resolved appropriately. if necessary. It is also the student¶s responsibility to attempt to resolve all course related issues with the instructor and then. STUDENT RESPONSIBILITIES IN ACADEMIC APPEALS: y y y Students should read the Undergraduate Academic Consideration and Appeals policy at www. They should also inform their instructor through an ³Accommodation Form for Professors´ that they are registered with the Access Centre and what accommodations are required. the instructor shall be permitted to submit that work to any plagiarism detection service. and the person will be asked to sign the exam paper for further verification. CHEATING ON AN EXAM OR TEST: Ryerson¶s Examination Policy requires that all students have a valid student identification card or other photo identification on their desk at all times when taking an examination. y E-MAIL ACCOUNTS: Students are required to activate and maintain a Ryerson Matrix e -mail account. If it is suspected that someone is impersonating a student. these students should register with the Access Centre http://www.ca/accesscentre/index. This shall be the official means by which you will receive university communications. as soon as circumstances arise that are likely to affect academic performance.ca/acadcouncil/current/pol157. the photo identification of that person will be checked. with the Chair/Director of the teaching department/school as soon as they arise. y When an instructor has reason to suspect that an individual piece of work has been plagiarized.html . Failure to deal with a situation as soon as it arises will jeopardize any appeal. ACCOMODATION OF STUDENTS WITH DISABILITIES: In order to facilitate the academic success and access of students with disabilities. the Registrar¶s office will re-register the student in that course until a decision is reached. depending on the situation. Students who believe that an assignment..

Religious Observance requests are to be made formally within the first two weeks of class. Within three business days of the final exam. the INC will become a grade of F. An INC can be awarded only when the completion of the outstanding work or an alternate final examination may result in a passing grade.html . See http://www.ca/writing-centre) for help with your written communications as needed. If you are missing the final exam you must do the following: Inform your instructor by e-mail prior to the exam. See the Ryerson Library for APA style guide references online at http://www. 9 .ca/acadcouncil/current/pol150. MISSED TERM TEST/FINAL EXAM: You need to inform your instructor of any situation which arises during the semester which has an adverse effect on your academic performance and you must request any necessary considerations or accommodat ions.ryerson. Present the completed official Ryerson medical certificate to your instructor within three working days or no later than the next scheduled class. See www. You are encouraged to obtain assistance from the Writing Centre (http://www.ca/acadcouncil/Other.pdf. All assignments submitted for grading will be handed back within two weeks. please resent the completed official Ryerson medical certificate to your instructor.ryerson. If the work is not completed by the deadline.pdf for the required Ryerson certificate. The INC will be replaced by an official course grade when the work is completed.ca/library/ref/style. The outstanding work or alternate examination must be completed by a specified date within three months of the submission of the INC.ryerson.within 10 working days of the date when the graded work is returned to the class.ryerson. The instructor will determine if you are eligible for an Incomplete (INC) grade. If you are missing a term test you must do the following: Inform your instructor by e-mail prior to the test. A doctor¶s certificate is required to substantiate illness.html/medical. STANDARD FOR WRITTEN WORK: y Students are expected to use an acceptable standard of business communication for all assignments. Failure to do so will result in a penalty of a grade of zero. LATE ASSIGNMENTS: Students must submit assignments on time. except for the final exam.

ACADEMIC GRADING POLICY: Evaluation of student performance will follow established academic grading policy outline d in the Ryerson GPA Policy at http://www. or other devices should not be used in the classroom as they are distracting to other students.33 4. cell phones.If your instructor has assigned an incomplete (INC). Otherwise.33 2.00 1.67 2.ca/acadcouncil/current/pol46. speakers and your instructor.33 1.67 1.00 3. it is the student¶s responsibility to arrange with the instructor to write a makeup exam at the first available opportunity.00 0.pdf . The grading system is summarized below: Definition Letter Grade A+ Excellent A AB+ Good B BC+ Satisfactory C CD+ Marginal D DUnsatisfactory F Grade Point 4.00 Conversion Range 90-100 85-89 80-84 77-79 73-76 70-72 67-69 63-66 60-62 57-59 53-56 50-52 0-49 10 . MAINTAINING A PROFESSIONAL LEARNING ENVIRONMENT: y Laptop computers. the student will be asked to leave the class.33 3.ryerson.67 3.67 0.00 2.

Sign up to vote on this title
UsefulNot useful

Master Your Semester with Scribd & The New York Times

Special offer for students: Only $4.99/month.

Master Your Semester with a Special Offer from Scribd & The New York Times

Cancel anytime.