Working Capital Management

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PEPPERDINE UNIVERSITY
THE GEORGE L. GRAZIADIO
SCHOOL OF BUSINESS AND MANAGEMENT

PROFESSOR CHUCK MCPEAK

MBAM-633.13

WORKING CAPITAL MANAGEMENT

SPRING 2006 SESSION B

WEDNESDAY

8AM-NOON

MALIBU

SYLLABUS

WORKING CAPITAL MANAGEMENT
MBAM-633.13
SPRING 2006 SESSION B
Wednesday 8AM-Noon
Malibu
Office (310) 506-4875
Professor Chuck McPeakHome (310) 545-6921
217 23rd St.FAX (310) 546-7671
Manhattan Beach CA 90266Email charles.mcpeak@pepperdine.edu

Course Description
This course provides advanced coverage of working capital management and the interrelationship between current assets and current liabilities. Detailed analysis of sources of short-term financing and strategic management of these sources is provided. Other topics include: selection of appropriate short-term investments, evaluating trade credit terms and credit scoring systems, establishing banking relationships, collections, creating cash budgets, and forecasting cash flows.

Course Objectives:
At the conclusion of this course the student should be able to demonstrate and communicate managerial level skills in the following areas: 1.Analysis of working capital management in an operating company. 2.Measurement and analysis of solvency, liquidity, and financial flexibility. 3.Application of time value of money concepts to working capital. 4.Optimizing the size and the ordering of inventory.

5.Analyzing, managing and collecting receivables.
6.Optimizing the use of payables.
7.Establishing and managing systems for the collection, concentration and disbursement of cash. 8.Forecasting short term cash flows.
9.Analysis and selection of short term investments.
10.Impact on working capital of production, information technology, ethical issues and regulatory issues. 11. Analyzing working capital issues in a small group.

Texts and Course Materials
1.Maness and Zietlow “Short-Term Financial Management”, Third edition, Southwestern Publishing, ISBN 0-324-20293-8 2.Harvard Business school Case 9-295-073, revised February 23, 1996, “Toy World Inc.” 3.Harvard Business school Case 9-195-130, revised August 1, 1995, “Chemalite Inc”. (B) 4.Financial calculator.

5.Excel templates provided to the student at no cost. These templates are located in the eRoom Templates Folder for MBAM 633. It is the individual student’s option to use any template or ignore any template. Grading

Homework 5 pointsCase studies20 points
Team project18 pointsMid-term exam25 points
Class participation 7 pointsFinal exam25 points
100-95%ASuperior Work
94.99-91%A-
90.99-87%B+
86.99-81%BSolid Graduate Level Work
80.99-77%B-
76.99-73%C+
72.99-67%CSub-par Graduate Work
66.99-63%C-
Below 63%D

Attendance Policy
The student should arrive at the first class session with the textbook and a calculator. In addition, the student should have read chapters 1 and 2. It will be impossible for a student to miss any part of the first class session and satisfactorily complete this course. Accordingly, A STUDENT WHO DOES NOT ATTEND THE FIRST CLASS SESSION, OR WHO ARRIVES LATE OR LEAVES EARLY, WILL BE DROPPED FROM THE COURSE.

Office Hours
I will be available in the office during the following hours:
Wednesday 5 until 6 PM
Thursday Noon until 1 PM

Telephone Hours
Please feel free to call me anytime between 9AM and 9PM.

Homework
All HAND-IN problems are due at the beginning of class. I will review the originals and return them the following class. Each homework assignment turned in complete, on time, and prepared on a computer, will be worth 1 point. Any homework turned in incomplete, late, or not prepared on a computer, will be worth less than 1 point. The solutions will be delivered electronically. No homework will be accepted after the solutions are posted.

Teamwork and Individual Work
In the workplace, some tasks are completed by an individual and some are...
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