Personal feelings regarding the course
As one of the courses studied during this session, principles of finance have equipped me with a great deal of knowledge and skills. I have gained knowledge on financial management such as financial forecasting (Shim & Siegel, 2008, p.71). The knowledge gained will not only give me advantage in executing personal financial management tasks but it will also increase the probability of attaining my career objectives.
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Through the course, I have been able to understand the requirements that one should have in order to work as a financial manager. Financial managers are charged with the responsibility of ensuring that an organization makes optimal investment decisions (Elton, 2010, p.434). For example, the course has enabled me to learn about several capital budgeting techniques such as the present value. As a result, I will be in a position to evaluate capital projects effectively. For example, I will be able to identify which projects which are feasible and those which are not.
Evaluation of the course work
The course was comprehensive in nature. This is evident in that it entailed a wide range of financial management issues. For example, the course includes capital investment analysis using various techniques such as the Capital Asset Pricing Model (CAPM). This gave me insight on how to analyze viability of investment projects. The course has also enlightened me regarding the element of risk which according to Kapil cannot be ruled out in investments (n.d, p.177). The two main categories of risks learnt include the diversifiable risks and un-diversified risks. This has given me a comprehensive understanding on how financial managers can deal with investment risks. One of the ways through which this can be attained is by understanding the source of the risk.
Capital budgeting also gives one a better understanding of the importance of conducting an analysis of the various investment options prior to undertaking a capital investment decision (Dayananda, 2002, p.1). Various capital budgeting techniques have been evaluated. Some of the techniques considered include determining the internal rate of return, discounted payback method and net present value.
The course has also illustrated the importance of incorporating qualitative elements in making capital budgeting decision. The course has also illustrated various sources of finance that investors may consider. These include equity and debt sources of finance.
To improve my performance, the course should have incorporated a program whereby the students interact with financial consultancy firms. This would have given me a better understanding of how the various concepts of the course are utilized in real investment environment.
Topic that was not well understood
One of the topics which I did not understand well compared to the others topics relates to risks. I did not understand how investors deal with un-diversifiable risks considering the fact that un-diversifiable risks cannot be ruled out in investments.
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How to measure the effectiveness of the course
One of the ways through which the effectiveness of this course can be determined is by evaluating effectiveness with which I manage my personal finances. Additionally, its effectiveness can also be determined by evaluating the success of my careers.
Has the course achieved the stated objectives?
The course has successively attained the objectives stated at the beginning of the course. This has been achieved through comprehensive analysis of the various topics of the study.
Dayananda, D. (2006). Capital budgeting; financial appraisal of investment projects. London: Cambridge University Press.
Elton, E. (2010). Modern portfolio theory and investment analysis. Hoboken, N.J: John Wiley.
Kapil, S. (n.d). Financial management. New Delhi: Pearson Education India.
Shim, J. & Siegel, J. (2008). Financial management. Hauppauge, N.Y: Barron’s Educational Series.