- •Basic principles and content of corporate finance their functions
- •The financial structure of the company. Objectives of financial services corporations.
- •3. The concept of time value of money. Real and future cost of capital.
- •The concept of fixed capital, its structure and role in the organization of the finance corporation.
- •6. Depreciation and its role in the renewal of fixed capital. Depreciation methods.
- •7. Performance indicators of fixed assets.
- •8. The economic content and classification of working capital.
- •10. Sources of working capital. Net working capital.
- •1. Funds from Business Operations:
- •2. Sales of Non-Current Assets:
- •3. Long-Term Borrowing:
- •4. Issue of Additional Equity Capital:
- •11. Cost-effectiveness of working capital using and ways to improve.
- •13. Indicators of costs and reserves ways to reduce them. Planning costs of production and sales.
- •Internal production factors:
- •14. Control over the cost of production and sales. Budgeting.
- •15. Classification and function of income. The total (gross), corporate income, its composition and structure.
- •16. Income from financial and investment activities of the company (different)
- •17. The threshold of profitability (порог рентабельности) and financial margin of safety (финансовый запас прочности).
- •18. Shareholders' equity corporations, its composition and structure.
- •19. Authorized capital. Extra capital. Withdrawn capital.
- •20. Financial assets of the corporation. Undistributed net income (loss). Финансовыеактивыкорпорации. Нераспределенныйчистыйдоход (убыток).
- •21. Types of long-term debt financing.
- •22. Short-term and medium-term financing. Banking and commercial credit. Краткосрочное и среднесрочное финансирование. Банковскийикоммерческийкредит.
- •23. Concept of price and capital structure. Methods of assessing the cost of capital. Понятие цены и структуры капитала. Методы оценки стоимости капитала.
- •24. Leverage capital. Interconnection costs and capital structure of the company.
- •25. Methods of financial analysis. The financial strategy of the corporation.
- •26. Forms of bankruptcy: the settlement agreement, reorganization, liquidation.
- •27. Forms and procedure of reorganization procedures: observation, rehabilitation, reorganization, acquisition, merger.
- •27. Forms and procedure of reorganization procedures: observation, rehabilitation, reorganization, acquisition, merger.
- •28. Financial recovery and crisis management strategy of financial corporations.
- •29. Basic methods of financial planning. Strategic, operational, and the current financial plan.
- •30. System and structure of the financial plan. The procedure for preparation, review and approval of the financial plan.
- •The essence and function of Finance
- •2. The financial system of Kazakhstan.
- •3. Financial policy and financial framework, the socio-economic processes.
- •4. Financial planning and forecasting
- •5. Key areas for improvement of fin planning
- •6. Essence and value of financial control
- •7. Audit control and its features
- •8. Finance of economic entity
- •9. Finance of economic commercial entities (different: Social Insurance)
- •10. Finance non-profit organizations and agencies.
- •11. Socio-economic substance of the state budget. Budget oriented to the result.
- •12. The composition and structure of revenues and expenditures of state budget.
- •The budget deficit and its methods of covering.
- •The budget process.
- •Socio-economic substance of the local budget.
- •16. Local budgets Revenues and Expenditures (different: property and personal insurance)
- •Interbudgetary relations and their regulation
- •The special economic zones finances
- •20. Household finances.
- •21. The economic essence of insurance and its scope.
- •24. The essence of state credit.
- •25. The essence and the types of public debt.
- •26. Characteristics of international economy relations. Basic segments of international economy relations.
- •27. Accumulation and spending foreign exchange reserves.
- •28. Public financial management of the economy. (Государственное финансовое регулирование экономики)
- •29. Financial markets. (Финансовый рынок)
- •30. Finance and inflation. (Финансы и инфляция)
- •1. Essence of bank system, its structure and elements
- •2. The National Bank of rk: the purposes, tasks, functions and powers
- •3. The main functions of commercial banks. Principles of commercial bank
- •4. Essence and features of formation of banking resources
- •5. Ways of formation of the bank capital. Sources of bank’s capitalization.
- •6. Own capital of commercial bank, its elements and the basic functions.
- •7. Adequacy of the banking capital. Prudential standards of adequacy of the banking capital.
- •8. The Basel agreement and organization principles of prudential regulations of banking activity
- •Essence prudential regulation and supervision. System of prudential standards in rк
- •10. Essence of depositary operations. Classification of deposits. Savings and depositary certificates
- •12. The interbank market of credit resources. The mechanism of transaction on interbank market.
- •13. Quality of assets. Criteria of assets qualification on quality.
- •14. Essence of active operations of banks: their content and structure.
- •15. Objects of crediting and subjects of crediting. Principles of bank crediting.
- •Объекты кредитования и субъекты кредитных отношений. Принципы банковского кредитования.
- •Classification of bank's credit
- •17. Credit process. Stages of credit process
- •18. Quality of credits. Classification of a credit portfolio on quality
- •19. Forms of credit collateral
- •20. Essence of creditworthiness of the borrower. The basic methods of an assessment of credit status of the borrower.
- •21. Credit history of the borrower. Credit bureau: world experience, practice in Kazakhstan
- •22. Bank Liquidity Management. Liquidity Ratios.
- •23. Basic elements of bank marketing. Segmentation of the bank market.
- •24. Bank risks, their classification and the main methods of management.
- •25. Essence of bank regulation: its kinds and methods.
- •26. Essence, subjects and objects of banking supervision. A supervising cycle.
- •1) Taxes as an economic category. Tax options.
- •2. Fundamentals of Taxes. The classical principles of Taxation of Adam Smith.
- •Classification of Taxes on Various grounds.
- •A principles of taxation of a. Wagner
- •Types of tax rates and features of their construction. The methods of tax collection
- •6. Stages of development of Kazakhstan tax system.
- •7.Characteristics of current state of Kazakhstan tax system. Principles of Taxation on the Tax Code of the rk.
- •Tax policy: objectives (or purposes), main types.
- •Directions of tax policy rк at the current stage.
- •The tax mechanism and its structure.
- •12. The economic content of property taxes.
- •14. Individual taxation in the Republic of Kazakhstan (different)
- •15. Property tax of legal entities in the Republic of Kazakhstan (different)
- •16. Land tax in Kazakhstan: the mechanism of calculation and collection (different)
- •Unified land tax (mechanism of calculations and collection)
- •18.Tax on gambling and fixed tax: the basics of building a mechanism for calculation and collection.
- •19. The economic essence of the value added tax. Advantages and disadvantages of vat.
- •Vat: the basics of building a mechanism for calculation and collection.
- •21. The economic content and order of excise taxation in Kazakhstan.
- •Corporate income tax: classification, characteristic bases of construction and mechanism for collection.
- •Investment tax preferences.
- •24. Classification characteristics of individual income tax. System of personal income taxation.
- •25. Fundamentals of building and collection of personal income tax in kz
- •26. Social tax: mechanism of calculation and collection. Social contributions to Social Insurance Fund of rk.
- •27. Special tax regimes in Kazakhstan: patent, simplified declaration (basic and application criteria) (different)
- •28. Special tax regimes in Kazakhstan for peasant farmers, for legal entities - producers of agricultural products.
- •29. Taxes and special payments of subsurface users (types and application mechanism).
- •30. The forms of tax control
- •Installment Payments
- •Interest and Penalties
- •1. The essence of financial management / Financial management: the concept, goals, objectives and principles of the organization.
- •4. The concept of cash flow
- •5. The concept of time value of money
- •6. Financial asset’s profitability evaluation model
- •8. The financial leverage. The Effect of financial leverage.
- •9. The theory of capital structure by Modigliani-Miller
- •11. The Weighted Average Cost of Capital. Capm (different)
- •12) Methods of evaluation and investment project selection
- •13) Conditions of company’s profit maximization.
- •14) Role of the operational analysis in formation of financial results of the enterprise activity.
- •15) Current cost management of the company. Cvp analysis
- •16. Company’s economic and financial activities analysis.
- •17. Company’s investment policy.
- •In its investment policy, the company may choose different types of it:
- •18. The analysis and assestmnt of investment decision in conditions of the market.
- •19. Leasing as the form of long term financing (different)
- •21. The efficiency of working capital management in enterprise.
- •23. Company’s cash and marketable securities management (different)
- •Basic of Accounts receivable management in the enterprise
- •Inventory management of the company: objectives and methods.
- •Corporate re-structuring of the company.
- •Leverage-buy-out of the company (lbo).
- •30. The organizational structure of financial management in the company / objectives and main stages of mergers and acquisitions.
25. Methods of financial analysis. The financial strategy of the corporation.
The financial analysis is a studying of the main indicators, parameters, coefficients and the animators giving an objective assessment of a financial condition of the organizations and a value of the stock of the companies for the purpose of making decisions on placement of the capital.The main components of the financial and economic analysis of activity of the enterprise are: - analysis of financial statements is the study of absolute figures presented in the financial statements. During the analysis of financial statements to determine the composition of the property company, its financial investments, the sources of equity capital, estimated communication with suppliers and customers is determined by the size and sources of borrowed funds, estimated amount of revenue from sales and profit margins. Thus it is necessary to compare actual performance with planned reports (estimated) and to establish the reasons for their non-compliance; - horizontal (temporary) analysis consists in comparison of indicators of financial statements with indicators of the previous periods.The most widespread methods of the horizontal analysis are: - simple comparison of articles of the statement and analysis of their sharp changes; - analysis of changes of articles of the statement in comparison with changes of other articles. Thus the special attention should be paid to cases when change of one indicator by the economic nature doesn't correspond to change of other indicator; - vertical (structural) analysis is a definition of structure of total financial performance with identification of influence of each position of the reporting on result in general; - trend analysis – comparison of each position of the reporting with a number of the previous periods and definition of a trend, i.e. main tendency of dynamics of an indicator cleared of casual influences and specific features of the separate periods. By means of a trend form possible values of indicators in the future, and, therefore, the perspective expected analysis is kept; - analysis of relative indicators (coefficients) is a calculation of the relations between separate positions of the report or positions of different forms of the reporting, definition of interrelations of indicators; - comparative analysis - it's like intraeconomic analysis of aggregates of statement on selected indicators of the company, subsidiaries, divisions, departments, and intereconomic analysis of indicators of the firm with the performance of competitors, with the average and the average economic data; - factorial analysis is the analysis of influence of separate factors (reasons) on a productive indicator by means of the determined or stochastic methods of research. And the factorial analysis can be as straight lines (actually the analysis) when split up for components, and the return (synthesis) when its separate elements connect in the general productive indicator; - analysis of an indicator (Return on investment) shows efficiency of activity of the enterprise at the level of the Center of Investments, i.e. the most top level of financial structure. Thus the financial result received on all means invested by owners in the enterprise is analyzed; - marginal analysis (Break-even analysis) The essence of this method is to compare the fixed costs of the enterprise and the marginal revenue / contribution to cover. The purpose of this type of analysis - analysis allows us to estimate the breakeven sales volume (both natural and cost) required to fully cover all the costs at zero profit. With this analysis revealed:1. The minimum level of sales at which the company will be able to continue its operations without incurring losses2. The contribution of each product (business) to cover the cost of permanent firmwide, which makes it possible to optimize the structure of production and sales of the company, closing the unprofitable businesses or to assess the prospects of a new product. - analysis of deviations defines a difference between concrete values of a certain indicator, and values can undertake in the most various cuts of economic activity of the enterprise.Examples: - for the period or for a certain date; - on regions, businesses or branches; - on the centers of financial responsibility, organizational links or legal entities; - on counterparty, contracts or products.
The financial strategy of the corporation. In conditions of market relations, the independence of enterprises, as well as liability exists the need to identify trends in the financial condition of its activity results in the orientation of the financial possibilities and prospects (bank loans, to attract foreign investment), assessing the financial condition of other economic entities. The solution of these issues provides the financial strategy of the enterprise.
Financial strategy - a general plan action to ensure the company in cash. It covers both the questions of the theory and practice questions, the formation of finance, planning and maintenance. The financial strategy of the company solves the problem, providing the financial stability of the company under market conditions.
The financial strategy of the company covers all aspects of business, including the optimization of fixed and current assets, profit distribution, non-cash payments, tax and price policy, policy in the field of securities and other.
Financial strategy ensures that the financial and economic capacity of the enterprise conditions prevailing in the product market, given the company's financial possibilities and considering the nature of the internal and external factors. Otherwise, the company may go bankrupt.
Types of financial strategy.General financial strategy referred to financial strategy, defining the activities of the company. For example, the relationship with the budgets of all levels of education and use of income of the enterprise, the need for financial resources and sources of their formation for a year.
Operational financial strategy - a strategy of the current maneuvering financial resources, ie control strategy for the expenditure of funds and the mobilization of internal resources, which is especially important in the current context of economic instability; It developed on the quarter, month. Operational financial strategy includes:
gross revenues and income funds: settlements with buyers for the sold products, revenues from credit operations, income from securities;
gross expenses: payments to suppliers, wages, repayment obligations to the budgets of all levels and banks.
This approach makes it possible to foresee all upcoming planning period turnover of cash receipts and expenditure. The normal position is considered to be equal expenses and income or a small surplus.
Operational financial strategy is developed within the general financial strategy, its details on a specific period of time.
The strategy to achieve private goals is the skillful execution of financial transactions, aimed at ensuring the implementation of the main strategic objectives.
The main strategic goal is to provide enterprise finance necessary and sufficient financial resources.
The financial strategy of the enterprise in accordance with the main strategic objective provides:
1) the formation of financial resources and a centralized strategic management of them;
2) Identification of critical areas and focus on their implementation efforts, flexibility in the use of the financial reserves of the company's management;
3) ranking and the gradual achievement of the objectives;
4) compliance with financial activities of economic and material capacities of the enterprise;
5) an objective consideration of the financial and economic situation and the real financial situation of the company in a year, quarter, month;
6) the establishment and preparation of strategic reserves;
7) Taking into account the economic and financial capacity of the company and its competitors;
8) determination of the main competitive threats, mobilizing forces in its elimination and skillful selection of areas of financial operations;
9) maneuver and fight for the initiative to achieve a decisive advantage over the competition.
Tasks (objectives) of financial strategy:
1) study of the nature and laws of formation of finance under market conditions;
2) the development and preparation of possible variants of formation of financial resources of the enterprise and financial management of action in the event of a crisis or unstable financial condition of the company;
3) the definition of financial relationships with suppliers and customers, the budgets of all levels, banks and other financial institutions;
4) identification of reserves and mobilization of resources of the enterprise for the most efficient use of production capacity, fixed assets and working capital;
5) providing the company with financial resources necessary for production and business activities;
6) To ensure efficient investment of temporarily free funds of the enterprise in order to maximize profit;
7) determining the methods of carrying out a successful financial strategy and the strategic use of financial opportunities, new products and comprehensive training enterprise personnel to work under market conditions, their organizational structure and technical equipment;
8) study of the financial strategic views of the likely competitors, their economic and financial capacity, the development and implementation of measures to ensure financial stability;
9) Develop ways to prepare exit from the crisis;
10) the development of enterprise human resource management practices in the conditions of crisis or unstable financial condition;
11) coordination of the efforts of the whole team to overcome it.