Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Financial economics wikipedia , lookup
Land banking wikipedia , lookup
Systemic risk wikipedia , lookup
Investment management wikipedia , lookup
Global saving glut wikipedia , lookup
Interest rate ceiling wikipedia , lookup
Credit bureau wikipedia , lookup
Financial literacy wikipedia , lookup
Systemically important financial institution wikipedia , lookup
Santa Monica College Course Outline For ACCOUNTING 45, Individual Financial Planning (same as BUSINESS 45 ) Course Title: Individual Financial Planning Total Instructional Hours (usually 18 per unit): 54 Hours per week (full semester equivalent) in 3.00 Lecture: Date Submitted: Date Updated: Transferability: IGETC Area: CSU GE Area: SMC GE Area: May 2011 February 2014 Transfers to CSU Degree Applicability: Prerequisite(s): Pre/Corequisite(s): Corequisite(s): Skills Advisory(s): Credit - Degree Applicable None None None None I. II. III. Units: 3.00 In-Class Lab: 0 Arranged: Catalog Description This course provides students with the tools to achieve their personal financial goals. It will help them make informed decisions related to spending, saving, borrowing, and investing. Topics covered include personal financial planning; money management; tax strategy; consumer credit; purchasing decisions; insurance; investing in stocks, bonds, mutual funds, and real estate; retirement; and estate planning. Examples of Appropriate Text or Other Required Reading: (include all publication dates; for transferable courses at least one text should have been published within the last five years) 1. Personal Finance, 10th, Kapoor, Dlabay, Hughes, McGraw-Hill/Irwin © 2011, ISBN: 978-0-07-756808-5 Course Objectives Upon completion of this course, the student will be able to: 1. Analyze the process for making personal financial decisions, develop personal financial goals, and assess personal and economic factors that influence personal financial planning. 2. Recognize relationships among financial documents and money management activities, create a system for maintaining personal financial records, develop a personal balance sheet and cash flow statement, create and implement a budget, and calculate savings needed to achieve financial goals. 3. Describe the importance of taxes for personal financial planning, calculate taxable income and the amount owed for federal income tax, and prepare a federal income tax return. 4. Analyze factors that affect selection and use of financial services. 5. Define consumer credit and analyze its advantages and disadvantages, differentiate among various types of credit, assess his/her credit capacity and build a credit rating, analyze the major sources of consumer credit, determine the cost of credit by calculating interest using various interest formulas, develop a plan to manage personal debt, and assess the financial implications of consumer purchasing decisions. 6. Evaluate available housing alternatives, analyze the costs and benefits associated with renting, and implement the home-buying process. 7. Develop a risk management plan using property, liability, homeowner?s/renter?s, automobile, health and disability income, and life insurance. 8. Explain why he/she should establish an investment program, describe how safety, risk, income, growth, and liquidity affect investment decisions, and identify the major types of investment alternatives. 9. Recognize the importance of retirement planning, and analyze his/her current assets and liabilities for retirement. 10. Analyze the personal aspects of estate planning, assess the legal aspects of estate planning, and distinguish among various types and formats of wills. IV. V. Methods of Presentation: Lecture and Discussion , Other (Specify) Other Methods: Problem Solving, Interactive Discussions, Case Studies Course Content % of course Topic 7% Personal Financial Planning: An Introduction 7% Money Management Strategy: Financial Statement and Budgeting 7% Planning Your Tax Strategy 7% Banking Services: Savings Plans and Payment Accounts 7% Introduction to Consumer Credit 7% Choosing a Source of Credit: The Costs of Credit Alternatives 7% Consumer Purchasing Strategies and Legal Protection; Housing 7% Home and Automobile Insurance 7% Health and Disability Insurance 7% Life Insurance 7% Investing Fundamentals 7% Investing in Stocks; Investing in Bonds 7% Investing in Mutual Funds 7% Real Estate and Other Investment Alternatives 7% Retirement Planning; Estate Planning 100% VI. Total Methods of Evaluation: (Actual point distribution will vary from instructor to instructor but approximate values are shown.) Percentage Evaluation Method 13 % Exams/Tests 38 % Quizzes - 18 quizzes 28 % Homework 15 % Final exam 6% Written assignments 100 % Total Additional Assessment Information: (Actual percentages will vary from instructor to instructor but approximate values are shown.) VII. Sample Assignments: Prepare a worksheet detailing your short, intermediate, and long-term personal financial goals. Research stock, bond, and mutual fund investments. VIII. Student Learning Outcomes 1. Pass (with a grade of ?C? or better) comprehensive exams designed to determine if they have acquired the skills to make informed decisions related to personal spending, saving, borrowing, and investing. 2. Apply the principles of personal finance to develop a comprehensive plan related to their own financial goals. 3. Demonstrate a level of engagement in the subject matter that reveals their understanding of the value of the course content beyond the task itself, specifically as it relates to linking the relevance of course content to careers in business and accounting and their personal lives.