On completion of the course the student will be able to:

1. demonstrate understanding of the fundamental accounting and financial concepts and practices relevant to new venture creation
2. demonstrate understanding of how different financing sources can influence venture development

3. apply foundational accounting and financial valuation techniques using a spreadsheet software
4. model and evaluate entrepreneurial initiatives from an integrated approach from both entrepreneur and investor positions

5. identify the basic information and incentive problems that impact new ventures
6. evaluate ethical and societal implications of new venture financing decisions, in line with the Sustainable Development Goals

One typical feature of new ventures is a high degree of uncertainty about future outcomes of financial and business decisions. The main purpose of the course is to provide students with an understanding of the interrelationships between financing decisions and other aspects of new venture strategy under uncertainty. The course provides students with skills which are required for making prudent financial decisions in new ventures. Specifically, course participants will learn to:

1. Assess financial needs required to develop and grow a business
2. Make financial projections and value new businesses
3. Judge sources of equity and debt financing in terms of their ownership implication
4. Understand the basics of financial contract design.

Moreover, the course also covers the role of venture capital and bank financing, as well as harvesting of venture investment.

Connection to research and practice
Students will develop both a contextual understanding and practical know-how of foundational accounting and financial practices and strategies necessary for the establishment, development, and survival of a new venture. Students will work through MS Excel-based exercises, developing their skill and expertise in the software package. In addition, students will be taught core entrepreneurial accounting and entrepreneurial finance concepts and models from the academic literature.

Lectures, guest lectures, assignments and workshops that require active participation from students.

The teaching is conducted in English.

Bachelor's degree in Business Administration (or the equivalent), (i.e. the equivalent of 180 ECTS credits at an accredited university) and a minimum of 7.5 credits in entrepreneurship.

The course is graded A, B, C, D, E, FX or F.

ILOs are assessed via the following examinations:

• Active participation in workshops, individually graded (ILOs 1, 3, 4) representing 1 credit
• Individual written exercises (ILOs: 3, 4) representing 2 credits
• Individual written exam (ILOs: 1, 2, 3, 4, 5, 6) representing 2 credits

Name of the Test	Value	Grading
Active participation in workshops, individually graded11	1 credit	U/G
Individual written exercises1	2 credits	A/B/C/D/E/FX/F
Individual written exam1	2 credits	A/B/C/D/E/FX/F

¹ All parts of compulsory examination in the course must be passed with a passing grade (A-E or Pass) before a final grade can be set. The final grade of the course is determined by the sum total of points for all parts of examination in the course (0-100 points). Grade is set in accordance with JIBS grading policy

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.
At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.
At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity
JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.
Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarizing. You must not copy sections of work (such as paragraphs, diagrams, tables, and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarizing called the Interactive Anti- Plagiarism Guide.
Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat, and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

Readings will include a course compendium or selected readings of relevant articles for each aspect covered in the course. Students will be informed of the readings at the introduction of the course.

Recommended reading
Berk, J., DeMarzo, P., (2016). Corporate Finance. Pearson International Education, 4th edition Global edition. ISBN-10: 1292160160 ISBN-13: 978-1292160160.
Kilholm Smith, J.; Smith, R T.; Smith R.L. (2011) Entrepreneurial Finance: Strategy, Valuation and Deal Structure. Stanford University Press. U.S. ISBN-10: 0804770913 ISBN-13: 978-0804770910, or later edition.