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所在平台: Coursera |
课程主页: https://www.coursera.org/learn/capital-budgeting
课程评论：没有评论
课程名称：创业投资决策规则应用 课程概述：在上一门课程中，您学习了财务报表分析以及如何估算未来的财务状况。在本课程中，您将学习资本预算，即如何进行投资决策。您将了解在多个项目中如何选择最佳项目，并且需要掌握相关的决策标准。本课程将介绍最受欢迎的投资决策标准，如净现值（NPV）和内部收益率（IRR）。通过财务分析和现金流折现方法，您可以制作前瞻性财务报表并估算项目现金流，然后应用投资标准来决定是否投资。在学习如何将NPV和IRR方法应用于投资决策后，您还将学习如何评估NPV估算、情景分析、假设分析和盈亏平衡分析。此外，您还将学习回收期法和盈利能力法，以便在政治风险或资本限制下判断是否投资。 课程大纲： 1. **资本预算技巧**：资本预算是决定是否进行投资项目的过程。在此模块中，您将研究实践中最受欢迎的三种资本预算技巧：净现值（NPV）、回收期和内部收益率（IRR）。 2. **项目分析**：在此模块中，您将学习如何使用Excel估算项目现金流。总体而言，项目现金流分析与公司层面的现金流分析类似，但项目现金流分析也存在一些独特的特征，需要您学习相应的原则。 3. **资本预算中的问题**：有时您需要同时评估多个项目。在此模块中，您将学习如何在多个项目中选择最佳项目，还将讨论NPV和IRR技术中的各种重要问题，最后讨论选择折现率的基本原则。 4. **商业项目中的实物期权**：我们继续学习商业项目的分析，但在此模块中，我们考虑项目中嵌入的“实物期权”的价值。您将学习如何使用决策树法或Black-Scholes期权定价模型来评估项目的价值。
Name:Capital Budgeting techniques
Description:Capital budgeting is the process of deciding whether to undertake an investment project. In this module, you will study the three most popular capital budgeting techniques in practice: Net present value (NPV), Payback period, and Internal rate of return (IRR).
Name:Project Analysis
Description:In this module, you will learn how to estimate project cash flows using Excel. Overall, project cash flow analysis is similar to firm-level cash flow analysis. However, there also exist some unique features of a project cash flow analysis, which requires us to study the project cash flow principles.
Name:Issues in Capital Budgeting
Description:Sometimes you have to evaluate multiple projects at a time. In this module, you will learn how to choose the best project among multiple projects. We will also discuss various important issues in NPV and IRR techniques. Finally, we discuss the fundamental principle in choosing the discount rate.
Name:Real Options in Business Projects
Description:We continue to study analyzing business projects, but the difference in this module is that now we consider the value of "real options" embedded in the project. You will learn how to estimate the project's value by using the decision tree approach or the Black-Scholes option pricing model.
In the previous course, you learned financial statement analysis and how to make estimate of future financial status. In this course, you are going to learn capital budgeting. That is, how to make an investment decision. You would like to select the best project among various projects you can take. Then, you need to know the criteria. In this course, you are going to learn investment decision criteria such as NPV and IRR, which are most popular decision rules. Using financial analysis and discounted cash flow method, you can make pro forma financial statement and estimate project cash flows. Then, you apply investment criteria to determine whether to invest or not. After learning how to apply NPV and IRR method to investment decision, you are going to learn how to evaluate NPV estimate and scenario, what-if analyses and break-even analysis. In addition to NPV and IRR, you are going to learn Payback period method and Profitability method to determine whether to invest or not when there is a political risk or capital rationing.
