Courses

Academic Level: 100

Lecture, 4 ECTS Credits (100 hours per semester), 4 hours per week (45 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Daniela Fischer

This course deals with the follwing topics:
Chapter 1: Introduction to Cost Terms and Purposes
Chapter 2: Determining How Costs Behave
Chapter 3: Cost-Volume-Profit Analysis
Chapter 4: Job Costing vs. Process Costing
Chapter 5: Allocation of Support-Department Costs & Common Costs
Chapter 6: Activity-Based Costing
Chapter 7: Decision Making and Pricing
Chapter 8: Cost Allocation: Joint Products

Assessment: Written exam
Prerequisites: Background in Business/Economics,
basic knowledge of Financial Accounting is helpful
Undergraduate students, Graduate students

Academic Level: 200

Lecture, 5 ECTS Credits (125 hours per semester), 4 hours per week (45 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Andreas Schittenhelm

This module deals with the follwing topics: Basics of dynamic financial planning, forms of financing, financing decisions, debt financing, equity financing, inclusion of taxation in investment and financing decisions (tax planning), Arbitrage, foreign trade financing; Financial planning: The Percentage of Sales Approach, The Cash Flow Identity; Investment Criteria: The NPV Criterion, The Internal Rate of Return, The Annuity Method, The Discounted Payback Rule; Project Analysis and Evaluation: Weighted Average Cost of Capital, Risk Measures. The module consists of the courses 102-004-IO-01 Finance and 102-004-IO-02 Investments

Assessment: Written exam
Prerequisites: Background in Business/Economics
Undergraduate students, Graduate students

Academic Level: 400

Lecture, 6 ECTS Credits (150 hours per semester), 4 hours per week (45 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Andreas Schittenhelm, Leonardo Minoia MSc., Mario Nicoliello

Students in this class are able to develop a financial business plan in Excel and are able to judge the profitability of an own venture. This course includes aspects of sustainable entrepreneurship and deals with the following topics: Business Planning, Financial Planning, Cash Flows, Profitability, Risk Management.

Assessment: Paper
Prerequisites: Intermediate level in Business/Finance/Economics, Excel
Undergraduate students, Graduate students

Academic Level: 400

Lecture, 6 ECTS Credits (150 hours per semester), 4 hours per week (45 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Graf, Alan Riefert, Lukas Adams

The module Business Concept includes aspects of sustainable entrepreneurship and deals with the following topics:
Sources of early stage financing: Individuals / Founders, retained earnings, bank borrowing, government sources, stock market (methods of new issues, types of underwriting), Venture Capital (VC), crowdfunding, innovation financing
Forms of venture capital: Business angels, venture capital funds, corporate venturing, incubators: key considerations in choosing a venture capitalist, evaluation activities carried out by venture capitalists
Financing Process: Process steps, obstacles
Evaluation Process: Business and company evaluation.
In addition to the classroom lecture experts and practitioners from industry present real life cases and best practices. Different industries, tasks and financing volumes shall help to prepare for the own case. Furthermore, students are expected to bring their own business idea forward and prepare for financing options.

Assessment: Presentation
Prerequisites: Intermediate level in Business/Finance/Economics
Undergraduate students, Graduate students

Academic Level: 400

Lecture, 6 ECTS Credits (150 hours per semester), 4 hours per week (45 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Holger Graf

Data science in finance plays a growing role, in particular regarding sustainability. Valuation and screening of financial instruments according to ESG-criteria (ecological, social and governancerelated criteria) relies on the analysis of large and fragmented data sets, a growing effort in view of current regulatory initiatives. This module consists of the two parts:
102-050-01 Data Science in Finance: Financial Analytics: Introduction to R and importing of financial data; Introduction to basic methods of data analysis (big data analysis, clustering, classification and covariance analysis, natural language processing) and the applications of these to financial data; Development and implementation of algorithms for automated risk management, portfolio optimizing, securities selection and valuation, simulation of financial markets and trading strategies
102-050-02 Financial Econometrics: Basics on properties of financial returns; Non-predictability of financinal returns; Stylized facts, in particular: heavy-tailed distributions, stochastic volatilities, volatility clustering, averaging of volatilities, etc.; GARCH-models and extensions; Copula-models, in particular pair-copula-constructions; Simulations of financial econometrics with R; Applications to risk- and portfolio-management

Assessment: Oral exam
Prerequisites: Intermediate level in Business/Finance/Economics, Excel
Undergraduate students, Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Dr. Dietmar Ernst

Why are spread sheet modeling skills so important? Spread Sheet Modeling skills are fundamental for a successful career in finance.The spread sheet modeler knows how the central tasks in financial practice can be professionally solved using Excel and VBA.
Which skills does a spread sheet modeler have? A spread sheet modeler can … efficiently and transparently prepare decisions, model practical problems clearly and in a well-structured way, use Excel and VBA programming to efficiently simplify complex subjects, present results in a professional manner, apply financial modeling to any question in finance
Will I be able to work without basic knowledge in spread sheet modeling? On an international level, leading universities have added the subject spread sheet modeling to their curricula in order to respond to the requirements in financial practice. We assume that in the medium-term, the principles of orderly spread sheet modeling will be the cornerstones of finance that everyone will have to respect.
Who needs well-founded knowledge in spread sheet modeling? All graduates and practitioners in finance should have a well-founded knowledge in spread sheet modeling. However, experience shows that the majority of financial experts does not have or only have rudimentary financial modeling skills. Currently, many banks, financial service providers and other companies are looking desperately for people with in-depth Excel modeling and VBA skills. Financial modeling knowledge is a sort of unique selling point offering the best opportunities to enter the professional financial world and to climb the career ladder.
Course content: Based on a very basic investment case study students learn the broad variety of professional spread sheet modeling. Prerequisite for that course is that each student works with his /her own laptop in class. Excel 2010 is appreciated.

Assessment: Paper
Prerequisites: Background in Business/Economics, Finance and Investment, Excel
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Marco Koch

1. Concept of International Accounting: Capital market based history of US GAAP and IFRS, Standard setting bodies, Framework of international accounting (objective basic principles, Elements of F/S, Accounting policies, Subsequent events), 2. Presentation and disclosure of financial statements: Balance sheet, Income statement, Statement of changes in Eequity, Statement of cash flows , Notes to the financial statements (incl. Segment reporting), Interim financial reporting, Related Parties disclosures, 3. Recognition, measurement and valuation of financial statement positions 10 Modul 103-001 (Version1) Tangible assets (PPE, impairment, investment property, leases, non-current assets held for sale, discontinued operations) Goodwill and Intangible assets (R&D) Financial assets (business combinations, associates, joint ventures, financial instruments) Inventories, construction contracts, revenue recognition (POC method etc.) Cash Provisions, contingent liabilities Employee benefits, stock compensation Income taxes (incl. Deferred taxes) Earnings per share, 4. Conversion process of a company to international GAAP (first time adoption of IFRS / USGAAP), 5. The audit approach of an international accounting firm, 6. The impact of Sarbanes Oxley and Corporate Governance on international accounting and auditing, 7. Summary: IFRS / US-GAAP comparison, 8. Recent developments ( i.e. analysis of financial statement restatements, international accounting for SME, development of IFRS / US GAAP)

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Andreas Schittenhelm

1. Bonds: Features of a Bond, Valuation, Real World Factors
2. Risk Measures: Duration, Convexity
3. Bond Strategies: 18 Modul 103-002 (Version1), Cash Flow Matching, Barbell Strategy Duration Matching, Duration-gap Analysis, Riding the Yield Curve, Arbitrage Strategies

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Serge Ragotzky

This lecture deals with the following topics:
1. The Purpose of Equity Analysis
2. Financial Statement Analysis 2.1. The basics: financial analysis as a prerequisite for financial planning 2.2. Liquidity 2.3. Operating performance 2.4. Risk analysis 2.5. Adjustments to corporate accounts 2.6. Derivation of free cash flow (FCF)
3. Financial Planning and Forecasting 3.1. Technical aspects of the planning process - top-down planning - closed-loop planning using spreadsheet models 3.2. Industry analysis and sales planning - Determinants of industry unit sales and price levels - The industry life cycle - Competition analysis 3.3. External factors and longer-term growth - External factors affecting longer-term growth perspectives - Modelling consistent long-term growth estimates: the DuPont system
4. Valuation 4.1. Valuation approaches 4.2. Discounted cash flow valuation - one-stage, two-stage, three-stage models - approaches to modelling the terminal value - comparison of dividend-discount, FCF-to-equity, and FCF-to-firm models - determining the discount rate 4.3. Relative valuation - Earnings-based, book value-based, revenue based, and sector specific multiples - Definitional, descriptional, analytical and application tests of multiples
5. Macroeconomic Aspects of Equity Analysis 5.1. Business cycle and asset allocation 5.2. Impact of macroeconomic factors on stock prices

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (100 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Dr. Dietmar Ernst

This class enables students
...to explain the difference between the value of a company and its price and to apply this knowledge to methods in Corporate Finance.
...to work out similarities and differences in the application of stock exchange and transaction multiples and to apply this knowledge to data collection and model development.
...to obtain and process the necessary data for a multiplier valuation from information providers such as Bloomberg or Thomson Reuters.
...to know criteria for the creation of a peer group of comparable companies and to apply these criteria when creating a peer group.
...to interpret the results of the multiplier valuation, to compare them with the results of the DCF company valuation and to independently draw conclusions for Corporate Finance transactions.
...to manage a project in the field of company valuation and to develop own solutions in a group of valuation specialists.
...to handle the theoretical and empirical challenges of multiplier valuation.
...to apply the knowledge to provided valuation projects and to adapt it to real valuation situations.
...to critically evaluate the assumptions, algorithms and results of each valuation approach.
...to prepare the results of the multiplier valuation in professional presentations.

Assessment: Presentation, graded case study
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 4 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Dr. Dietmar Ernst

How works an Asset Management Company? What is the business model? Case study: “beautycontest” / Q&A with Christop Eibl (founder of Tiberius Asset Management). What is an investment approach? Different approaches of different companies, case study:“manager selection” / Q&A with Michael Wimmer (fund analyst). This course deals with all these topics and the questions will be answered.

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in spring/summer

Lecturer: Prof. Dr. Dr. Dietmar Ernst

This lecture offers a broad Introduction to Mergers & Acquisitions (M&A). The professor explains the Initial Phase and how to contact the interested Parties. The students get an insight into the financial aspects of M&A and the Legal Aspects in M&A Sales Processes

Assessment: Written exam
Prerequisites: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 3 ECTS Credits (75 hours per semester), 2 hours per week (25 hours per semester)

offered in spring/summer

Lecturer: Schwendemann, Kofler

This course consists of two parts: Initial Public Offering (IPO) and Investor Relations. Part IPO deals with the following topics: Why Initial Public Offering (IPO)?: Definition, reasons, global IPO market, history, pros and cons, case study; Key factors of a successful IPO: Pre-IPO strategy, business plan, equity story, time table, governance, financial reporting, issue concept, excursus ICO; Valuation: Peergroup, multiples; Placement process I: Syndicate, structure, research, marketing; Placement process II: Pricing, allocation, fees, designation, stabilization; Documentation: Beauty contest, consultants, advisors, due dilligence, prospectus, comfort letter, agreements; Post IPO obligations and Investor Relations activities Part Investor Relations deals with the following topics: What is Investor Relations? Role and Target of Investor Relations, IR Environment, Managing Expectations, Objetives of Investor Relations, Target Groups Communication Tools, Do we need IR?

Assessment: Written exam, presentation
Prerequisite: Background in Business/Economics, Finance and Accounting (at least intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture + Tutorial (mandatory), 5 ECTS Credits (125 hours per semester), 4 hours per week (45 hours per semester)

offered in spring/summer

Lecturer: Prof. Dr. Dr. Dietmar Ernst

In the class “Practice of Company Valuation” students forecast and value a DAX listed company.
1. Financial Analysis of a Dax Listed Company a. Analysis of the annual reports of the past five years b. Financial statement analysis of the annual reports with financial ratios
2. Financial Planning a. Application of the principles of financial modeling b. Set up of an integrated five year income statement and balance sheet plan
3. Calculation of the Cash Flows of a Dax Listed Company a. Operating free cash flows b. Cash flows to equity 4. Calculation of Cost of Capital of a Dax Listed Company a. Cost of equity b. Cost of debt c. Weighted average cost of capital
5. Valuation of a Dax Listed Company a. WACC approach b. Equity approach c. APV approach d. Periodic WACC

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 3 ECTS Credits (75 hours per semester), 2 hours per week (25 hours per semester)

offered in spring/summer

Lecturer: Michael Bloss, Senator E. h.

This course deals with the following topics:
Derivatives Exchanges
Clearing and Margining
Risk Controlling
Derivatives Instruments and valuation
Interest Rate Derivatives of Fixed Income Solutions
Equity Derivatives and Structuring Techniques
Credit Derivatives and Related Instruments
Pricing of Derivatives
Forecast models, GARCH, ARCH, Short rate models, Geometrical Brownian Motion and Ornstein Uhlenbeck process
Greeks
Strategies with Options and Futures
FX Derivatives
Commodity Derivatives
SWAP and Swaptions
IRG and FRA
Cap, Floors and Collars
Exotic Options
Derivatives Used in Financial Engineering
Case studies for strategic applications of tailor made financial solutions in asset and liability problems

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance and Accounting (intermediate level)
Undergraduate students with special permission, Graduate students

Academic Level: 500

Lecture, 4 ECTS Credits (100 hours per semester), 3 hours per week (35 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Daniela Fischer

This course deals with the following topics:
Controlling with SAP
Introduction to SAP ERP
Introduction to GBI – Global Bike Inc.
Navigation in SAP
Case study Sales & Distribution (SD)
Case study Materials Management (MM)
Case study Production Planning & Execution (PP)
Case study Financial Accounting (FI)
Case study Controlling (CO)
Controlling with Excel
Helpful basics for data analysis with Excel
Financial mathematics
Data Analysis
Optimization
Diagrams and tables for Powerpoint presentations
Automatization of Presentations

Assessment: Written electronic exam
Prerequisite: Background in Business/Economics, Finance/Accounting/Management (at least intermediate level)
Undergraduate students with special permission (number of Undergraduates is limited to 10), Graduate students

Academic Level: 500

Lecture, 1 ECTS Credits (25 hours per semester), 1 hours per week (15 hours per semester)

offered in fall/winter

Lecturer:  Patrick Kersting

This class deals with the following topics:
Basics of Knowledge Management, History of Data Analysis and Business Intelligence (BI), Concept of Data Analysis and Business Intelligence (BI) - Type of Tools, Technical Basics and Implementation Strategy for BI Tool in Companies, Case Studies and Examples, Overview of Business Intelligence (BI) Tools on the Market
This class will introduce the basic concept of Business Intelligence. The main goal of this class is to provide an understanding of the different data types from systems and their interrelationships. Real-life examples complete the class. An integrated view of all decision-relevant information for the future is becoming increasingly important for decision-making in companies. Business Intelligence (BI) refers to strategies, methods and technologies for extracting information about the status, potential and prospects of a company from heterogeneous, distributed data and critical company knowledge. The associated functions are performed by different tools, seamless interaction is the key feature of a BI landscape. Data warehouse systems and their processes are central concepts for the integration of data and ensuring high data quality. Data mining methods also provide insights into previously unknown relationships in business data.

Assessment: Written electronic exam
Prerequisite: Background in Business/Economics, Finance/Accounting/Management (at least intermediate level)
Undergraduate students with special permission (number of Undergraduates is limited to 10), Graduate students

Academic Level: 500

Lecture, 3 ECTS Credits (75 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter

Lecturer: Prof. Dr. Daniela Fischer

This course deals with the following topics:
Group of companies and tasks of a group controller
Group statement of financial position
Group statement of profit or loss
Traditional and value based Key Performance Indicators
Group Budgets
Transfer prices in groups of companies

Assessment: Written exam
Prerequisite: Background in Business/Economics, Finance/Accounting/Management (at least intermediate level)
Undergraduate students with special permission (number of Undergraduates is limited to 10), Graduate students

Academic Level: 500

Lecture, 4 ECTS Credits (75 hours per semester), 3 hours per week (35 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Ludger Hinners

The students will get an introduction to Financial Mathematics and Business Finance, including selected theories and concepts. Knowledge of central terminology and basic numerical facts are expected e.g.: What do we mean with capital? How much capital do enterprises and the economy need in Germany and the EU? Total borrowings in Germany and the EU. Current and historical interest rates of financial products. Key figures of liquidity. Source of information with respect to financial issues. The main learning content is the instruction of financial method skills e.g.: Basic concepts of Financial Mathematics, comparison of investment alternatives (static and dynamic methods), uncertainty of Investment Planning, calculation of the need of capital, Financing , Funding, Financing scheme. Students who have successfully completed this module, will have extensive knowledge of financial matters that are the basis of Corporate Decision Making. Furthermore, they will have developed an understanding of financial forms and regulations in business and are familiar with financing and investment procedures as well as terms of periodic in- and outpayments. They acquire the skills to adequately apply common methods of static and dynamic investment calculation in business critical situations while using standard PC software. The knowledge of the respective requirements and applications enables the students to recognize the advantages of certain investments and financing alternatives. They can apply their knowledge and skills in order to develop solutions for new challenges while making use of data processing, in particular spreadsheet analysis.

Assessment: Oral exam
Prerequisite: Background in Business/Economics, Finance, Mathematics and Statistics (intermediate level)
Undergraduate studens with special permission (number of Undergraduates is limited to 6), Graduate students

Academic Level: 500

Lecture, 4 ECTS Credits (100 hours per semester), 3 hours per week (35 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Prof. Dr. Andreas Schittenhelm, Prof. Dr. Mario Nicoliello

This course deals with the following topics:
Financial Statements: Balance Sheet, Income Statement, Double Entry System, Cash Flow Statement  Specific Balance Sheet Items: Inventory, Fixed Assets, Provisions and Accruals
Financial Analysis: Balance Sheet Analysis, Income Statement Analysis, Cash Flow Statement Analysis Consolidated Financial Statement: Business Combinations, Consolidated Statements
International Accounting: Importance of International Accounting, International Accounting Systems

Assessment: Written exam
Undergraduate students - not recommended for Business/Economics students

Academic Level: 500

Lecture, 3 ECTS Credits (75 hours per semester), 2 hours per week (25 hours per semester)

offered in spring/summer, fall/winter

Lecturer: NN

Students in this course are able to describe and explain quantitative questions using basic mathematical methods. They develop the ability to solve simple mathematical problems common in business practice. After completing the course, students will be able to learn more sophisticated methods independently.The course deals with the following topics: Basic rules of calculation; Potency, root and logarithms calculation; Equations and systems of equations; Sequences and series; Functions; Differential calculus

Assessment: Written exam
Undergraduate students with special permission (number of Undergraduates is limited to 6), Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Olubukola Olanrewaju

Students will acquire basic knowledge about the meaning and structure of international financial markets. The investment and financing instruments issued and traded on the financial markets are presented and explained in detail. Particular attention is paid to the analysis of foreign exchange markets, as well as to the transactions and practices observed on them. Based on this, the methods for hedging currency risk are discussed. An important topic in this context is the use of modern derivative financial instruments. The application of the instruments shown and the functional areas of international corporate finance management are practiced on the basis of case studies and in group work.

Assessment: Written exam
Prerequisite: Background in Business/Economics
Undergraduate students with special permission (number of Undergraduates is limited to 6),
Graduate students

Academic Level: 500

Lecture, 3 ECTS Credits (75 hours per semester), 2 hours per week (25 hours per semester)

offered in spring/summer, fall/winter

Lecturer: Dipl.-Kfm. Robert Jacob, Sven Kossyk

Students in this finance class will be exposed to the theory and practice of Accounting and Reporting in an international environment. They will obtain an understanding how financial resources of international corporations are accounted for and reported according to US GAAP. They will understand how to measure and control financial resources in theory and practice.

Assessment: Written exam, presentation
Prerequisite: Background in Business/Economics, Finance and Accounting (at least intermediate level)
Undergraduate students with special permission (number of Undergraduates is limited to 6), Graduate students

Academic Level: 500

Lecture, 2 ECTS Credits (50 hours per semester), 2 hours per week (25 hours per semester)

offered in fall/winter, spring/summer

Lecturer: Prof. Dr. Daniela Fischer

This course deals with the following topics:
Part 1: Focus on Decision Making
Chapter 1: Managerial Accounting, the Business Organization, and Profesional Ehtics
Chapter 2: Introduction to Cost Behavior and Cost-Volume-Profit Relationships
Chapter 3: Measurement of Cost Behavior
Chapter 4: Cost Management Systems and Activity-Based Costing
Chapter 5: Relevant Information for Decision Making with a Focus on Pricing Decisions
Chapter 6: Relevant Information for Decision Making with a Focus on Operational Decisions
Part 3: Product Costing
Chapter 12: Cost Allocation
Chapter 13: Accounting for Overhead Costs

Assessment: Written exam
Prerequisite: Background in Business/Economics
Undergraduate students with special permission (number of Undergraduates is limited to 6), Graduate students