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Financial Management and Project Funding

Module name (EN):
Name of module in study programme. It should be precise and clear.
Financial Management and Project Funding
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
Leisure, Sports, Tourism Management, Master, ASPO 01.04.2017
Module code: MFSTM-330
SAP-Submodule-No.:
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
P440-0004
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
4V (4 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
6
Semester: 3
Mandatory course: yes
Language of instruction:
German
Assessment:
Written exam (90 minutes / Can be repeated semesterly)


[updated 30.10.2023]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

MFSTM-330 (P440-0004) Leisure, Sports, Tourism Management, Master, ASPO 01.04.2017 , semester 3, mandatory course
Workload:
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 180 hours (equivalent to 6 ECTS credits).
There are therefore 135 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
MFSTM-120 Stakeholders in the Leisure, Sport and Tourism Sectors
MFSTM-210 Corporate Management


[updated 06.09.2023]
Recommended as prerequisite for:
Module coordinator:
Dr. Birgit Pferdmenges
Lecturer:
Dozierende des Studiengangs


[updated 06.09.2023]
Learning outcomes:
After successfully completing this module, students will be able to:
 
- place financial management in its scientific context, explain relationships between investment and financing, and assign organizations in the leisure, sports, and tourism industries to the three-sector model.
 
- apply in-depth knowledge in selected areas of financial management to theoretical and practical problems in the for-profit sector using their broad basic knowledge and design solutions independently (in particular, assessing the financial situation of organizations, determining capital requirements and ways of meeting capital requirements, investment appraisal, financial planning for start-ups).
 
- discuss the change from cameralistics to double-entry accounting in the public sector, identify the problem associated with Baumol´s cost disease, and describe how the European Central Bank´s interest rate policy works and its effects on the financing of organizations, especially foundations.
 
- reflect on the special features within the nonprofit sector, including tax and nonprofit law, and reflect on alternative funding sources and new forms of fundraising in a dynamic (funding) environment and discuss them using practical examples.
 
- give a presentation on the possibilities of state tourism and sports funding, explain the structure and content of a funding application and prepare a funding application for simple practical examples.


[updated 30.10.2023]
Module content:
The basics
• Classification of financial management in the context of accounting and financial management
• Relationship between investment and financing
• Three-sector model and allocation of appropriate forms of financing in each case
 
Financial management
• Financial management objectives (profitability, liquidity, security, independence, ethical aspects)
• Investment calculation (static and dynamic methods)
• Key performance indicator systems
• Systematizing forms of financing (equity/external financing, internal/external financing, duration of capital provision)
• Provision of equity capital, debt capital, mezzanine capital (esp. through capital increase, IPO, business angels, private equity and venture capital, supplier credit, customer down payment, factoring, leasing, bank loans)
• Start-up financing (business plan, typical sources of finance), financial life cycle of companies.
• Financial planning (cash flow, cash flow statement, capital requirements planning, liquidity planning)
• Corporate crises, insolvency proceedings
 
Special features of financial management in the public sector
• Cameralistics and double-entry accounting
• Baumol’s cost disease
• The ECB´s interest rate policy and its impact on foundations
 
Special features of financial management in the third sector
• Typical financial partners, tax and non-profit law, spheres of tax-privileged corporations
• Nonprofit accountability and ways to implement it
• Participatory pricing mechanisms  (Pay what you want, Pay as you stay)
• Sponsorship and donations (donor pyramid/life cycle)
• Other fundraising options: e.g., capital campaigns, memberships, matching funds, guerrilla fundraising, cause-related fundraising, fundraising runs, crowdfunding
 
Funding
• Funding from public funds (local, state, federal, EU), e.g. tourism promotion and sports promotion at the various levels
• Funding from foundations
• Funding applications: Forms of financing, application procedure

[updated 30.10.2023]
Teaching methods/Media:
Lecture with group and project work, discussions with students

[updated 20.01.2020]
Recommended or required reading:
Current literature lists will be made available to students at the beginning of the semester.
Selected recommended sources include:
 
Bächstädt, K.-H. (2016). Non-Profit-Organisationen: Finanzierung und Fundraising, in: Kredit & Rating Praxis, 42. Jg, Heft 3, S. 16-20.
Bieg, H., Kußmaul, H., Waschbusch, G. (2023). Finanzierung. 4. Auflage. München: Vahlen.
Bieg, H., Kußmaul, H., Waschbusch, G. (2016). Investition. 3. Auflage. München: Vahlen.
Brealy, R.A. et al. (2022). Principles of Corporate Finance. 14. Edition. Boston: McGraw-Hill.
Gerlach-March, R., Pöllmann, L. (2019). Kulturfinanzierung, 2. Auflage, Wiesbaden: Springer.
Gerpott, T. (2017). Pay-What-Yout-Want pricing: An Integrative Review of the empirical research literature, in: Management Science Letters, Vol. 7, Issue 1, pp. 35-62.
Helmig, B., Boenigk, S. (2020). Nonprofit-Management. 2. Auflage. München: Vahlen.
Hurlebaus, A. (2013). Grundsätze ordnungsgemäßer kommunaler Rechnungslegung und ihre Auslegung im Hinblick auf die Bewertung kommunaler Sachanlagen. Wiesbaden: Springer.
Perridon, L., Steiner, M., Rathgeber, A. (2022). Finanzwirtschaft der Unternehmung. 18. Auflage. München: Vahlen.
Prätsch, J., Schikorra, U., Ludwig, E. (2012). Finanzmanagement. 4. Auflage. Berlin: Springer.
Nufer, G., Rützel, F. (2016). Best Practices im Sportsponsoring. NACHSPIELZEIT - die Schriftenreihe des Deutschen Instituts für Sportmarketing, Ausgabe 7.
Urselmann, M. (2023). Fundraising: professionelle Mittelbeschaffung für gemeinwohlorientierte Organisationen. 8. Auflage. Wiesbaden: Springer.
Vilain, M. (2006). Finanzierungslehre für Nonprofit-Organisationen. Wiesbaden: VS Verlag für Sozialwissenschaften.
Vilain, M. (2016). Finanzierung von Nonprofit-Organisationen im Wandel, in: Zimmer, A., Hallmann, Th. (Hrsg.). Nonprofit-Organisationen vor neuen Herausforderungen. Wiesbaden: Springer, S. 331-362.
www.bmwi.de
www.bundesfinanzministerium.de

[updated 30.10.2023]
 
[Fri Apr 26 04:46:09 CEST 2024, CKEY=ffuf, BKEY=fsm, CID=MFSTM-330, LANGUAGE=en, DATE=26.04.2024]