In the subject Borrowing and Dividend Policies, the objective that should guide the choice of financing decisions will be defined: the maximization of the total market value of all securities issued by the company. It will be analyzed why the financial structure and the distributed profits vary so much between companies and sectors. The different sources of business risk will be defined: economic risk and financial risk. The impact of the modification of the financial structure on the value of the company, the financial risk, the return required by investors and the weighted average cost of capital will also be explained. In short, the advantages and disadvantages of financial decision-making, such as varying the level of indebtedness of the company or modifying the dividends distributed, will be transmitted, so that the final policy adopted is the result of adequately weighing the different effects it generates: on tax savings, the increase in the costs of financial distress and the effect on agency costs between shareholders and managers and between bondholders and shareholders.

In the subject Financial Management, the management of debtors, the credit policy and the methods of classification of customers, as well as the management of collections and defaults will be addressed. On the other hand, taking into account the working capital of the company, the financial management of inventories, the management and cost of short-term financial resources and the management of long-term financial instruments, such as loans and financial leasing, will be addressed.

Regarding the subject Cash Management and Relations with Financial Entities, the organization and functions of the treasury department will be studied. Likewise, other aspects such as the centralization of the treasury and cash pooling will be addressed and the bank negotiation process will be studied.

Finally, the subject Financial Instruments to Support SMEs will analyze the specific characteristics of small and medium-sized enterprises, as well as the analysis and comparison of the different financing alternatives. In particular, the role of Mutual Guarantee Societies, the BME Growth and BME Scaleup markets as a stock market mechanism specialized in companies with reduced capitalization and size will be considered. Likewise, as an alternative to the Stock Market, financing through Venture Capital entities (private equity) will be studied. To finish, public support for SMEs through ICO financing lines as well as other alternative financing means (participative loans) will be analyzed.