Financial Management and Taxation in Construction

Major: Economics and Construction Management
Code of subject: 7.051.03.E.017
Credits: 4.00
Department: Business Economics and Investment
Lecturer: Seliuchenko Nadiia Yevstahiivna, Ph.D. in Economics, Associate Professor Balanska Olena Igorivna, Ph.D. in Economics, Associate Professor
Semester: 2 семестр
Mode of study: денна
Мета вивчення дисципліни: Formation of students' system of knowledge about financial support and taxation in the construction business, a set of skills and abilities to apply various methods, tools and levers of financial and tax management in the construction business.
Завдання: The study of an educational discipline involves the formation of competencies in students of education: general competences: ZK1. Ability to generate new ideas (creativity). ZK2. Ability to abstract thinking, analysis and synthesis. ZK3. The ability to motivate people and move towards a common goal. ZK4. Ability to communicate with representatives of other professional groups of various levels (with experts from other fields of knowledge/types of economic activity). ZK7. Ability to act on the basis of ethical considerations (motives). professional competences: FC1. The ability to apply scientific, analytical, methodical tools to justify the strategy of development of economic entities and related management decisions. FC4. The ability to use modern information technologies, methods and methods of research of economic and social processes, adequate to the established research needs. FC6. The ability to formulate professional tasks in the field of economics and solve them, choosing the appropriate directions and appropriate methods for their solution, taking into account the available resources. FC7. The ability to justify management decisions regarding the effective development of economic entities. FC8. The ability to assess possible risks, socio-economic consequences of management decisions. FCS 1.2 The ability to provide rational construction financing based on the use of financial management methods, tools and levers.
Learning outcomes: • knowledge and understanding of the financial management mechanism, financial management systems at the construction enterprise; • knowledge and understanding of the construction financing modern systems and mechanisms, and of financing sources of the construction company activity; • knowledge of current tax systems and understanding of construction companies tax features; • ability to apply methodological tools to analyze the construction company’s financial statements, the financial plans and budgets development, evaluation the money over time and long-term securities value, the equity and debt value, the real and financial investments effectiveness; • ability to apply methods of cash flows managing, of current and non-current assets financing sources, capital, financial investments; • the ability to use tax optimization methods for construction companies; • ability to diagnose the enterprise’s financial risks and financial crisis, to justify management decisions on the construction enterprise financial rehabilitation
Required prior and related subjects: Prerequisites: Socio-Economic Systems Development Strategie Statistical Analysis and Modeling of Socio-Economic Systems and Processes Co-requisites: Сost Design in Сonstruction Rationing and Management of Construction Enterprises Resources
Summary of the subject: The educational discipline is aimed at: formation of students' knowledge in the field of theoretical and organizational foundations of financial management, systems of its support; study of mechanisms and sources of financing construction objects, features of taxation of construction business; formation of practical skills in the application of methodological tools for evaluating and analyzing financial statements, developing financial plans and budgets, evaluating the value of long-term securities, equity and loan capital, the effectiveness of real and financial investments; formation of the ability to apply methods of managing cash flows, sources of financing non-current and current assets, capital, financial investments, tax payments, financial risks, as well as understanding the peculiarities of their application in the context of anti-crisis financial management of the construction business.
Опис: Theoretical and organizational foundations of financial management. Determining the money value over time and its use in financial calculations. Analysis of financial statements and financial planning. The construction company cash flow management. The current assets management. Enterprise investment management. The capital structure cost and optimization. Mechanisms and sources of construction projects financing. The construction company features of taxation. The construction company financial risk management. The enterprise anti-crisis financial management.
Assessment methods and criteria: 1. Current control involves the following assessment methods: - assessment of knowledge in practical classes in the process of discussing problematic scientific and practical issues and solving situational tasks, taking into account activity, submitted proposals, original solutions, clarifications and definitions, etc.; - evaluation of test tasks in the National Security Service; - assessment of individual calculation works. 2. Examination control provides for the evaluation of the written and oral components.
Критерії оцінювання результатів навчання: Current control (40%): test tasks; individual control works. Final control - exam (60%): written component (50%); oral component (10%).
Порядок та критерії виставляння балів та оцінок: 100-88 points - certified with an “excellent” grade - High level: the student demonstrates an in-depth mastery of the conceptual and categorical apparatus of the discipline, systematic knowledge, skills and abilities of their practical application. The mastered knowledge, skills and abilities provide the ability to independently formulate goals and organize learning activities, search and find solutions in non-standard, atypical educational and professional situations. The applicant demonstrates the ability to make generalizations based on critical analysis of factual material, ideas, theories and concepts, to formulate conclusions based on them. His/her activity is based on interest and motivation for self-development, continuous professional development, independent research activities, implemented with the support and guidance of the teacher. 87-71 points - certified with a grade of “good” - Sufficient level: involves mastery of the conceptual and categorical apparatus of the discipline at an advanced level, conscious use of knowledge, skills and abilities to reveal the essence of the issue. Possession of a partially structured set of knowledge provides the ability to apply it in familiar educational and professional situations. Aware of the specifics of tasks and learning situations, the student demonstrates the ability to search for and choose their solution according to the given sample, to argue for the use of a particular method of solving the problem. Their activities are based on interest and motivation for self-development and continuous professional development. 70-50 points - certified with a grade of “satisfactory” - Satisfactory level: outlines the mastery of the conceptual and categorical apparatus of the discipline at the average level, partial awareness of educational and professional tasks, problems and situations, knowledge of ways to solve typical problems and tasks. The applicant demonstrates an average level of skills and abilities to apply knowledge in practice, and solving problems requires assistance, support from a model. The basis of learning activities is situational and heuristic, dominated by motives of duty, unconscious use of opportunities for self-development. 49-00 points - certified with a grade of “unsatisfactory” - Unsatisfactory level: indicates an elementary mastery of the conceptual and categorical apparatus of the discipline, a general understanding of the content of the educational material, partial use of knowledge, skills and abilities. The basis of learning activities is situational and pragmatic interest.
Recommended books: 1. Ван Хорн Дж. К., Вахович Джон М. Основы финансового менеджмента. Издательский дом «Вилямс», 2004. 992с. 2. Партин Г. О., Селюченко Н. Є. Фінансовий менеджмент: підручник. Львів: Видавництво Національного університету «Львівська політехніка», 2018. 388с. 3. Васьківська К. В., Сич О. А. Фінансовий менеджмент: навч. посіб. Львів : «ГАЛИЧ-ПРЕС», 2017. 236 с. URL: https://financial.lnu.edu.ua/wp-content/uploads/2015/10/%D0%BF%D0%BE%D1%81%D1%96%D0%B1%D0%BD%D0%B8%D0%BA-%D0%A4%D0%9C-30.pdf 4. Дема Д.І. Податковий менеджмент: навч. посібник / Д.І. Дема, І.В. Шевчук, Г.П. Мартинюк; за заг. ред. Д.І. Деми. К.: Алерта, 2017. 256 с. URL: http://ir.znau.edu.ua/bitstream/123456789/8277/1/Podatkovuy%20menedzment_2017_256.pdf
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Академічна доброчесність: The policy regarding the academic integrity of the participants of the educational process is formed on the basis of compliance with the principles of academic integrity, taking into account the norms "Regulations on academic integrity at the Lviv Polytechnic National University" (approved by the academic council of the university on June 20, 2017, protocol No. 35).