Entrepreneurial Finance

Description

This module provides the necessary knowledge and skills to enable a student to understand the nature and characteristics of financial planning in the context of entrepreneurship. This involves the understanding of the key financial statements (Profit & Loss, Balance Sheet and Cash Flow), the financial planning process, the financial risks/rewards of entrepreneurship and innovation, new venture financial models and strategies, typical funding sources, the development of business presentations to attract outside funding, the due diligence process, and the strategies for negotiations for funding. The module is divided into two parts. The accounting and finance part will enable students to understand all the key financial statements and concepts. The objective is to make students confident when talking to accounting professionals, bankers or venture capitalists about financial data. Classes are highly inter-active and short case studies and practical exercises are used to support the learning process. The financial assignment involves building a financial model in Excel, which can be used as a practical tool for a real-life start-up business, should the student wish. Students should be reasonably confident in using Excel if taking this module. The accounting side of the course is designed for students with a limited understanding of subject. Hence any students who have previously studied accounting and finance may find some parts of the course simplistic. The second part of the module - about fundraising, is focused on understanding the process of raising external capital. This covers areas such as valuations of start-ups, due diligence processes, term sheets and negotiations with investors. Several professional investors and entrepreneurs will be sharing their experience and knowledge with students. Students will be able to meet them and learn from their experiences.