Study Guide

Objective

Students can plan and control the financial situation of a firm as part of the management process. Students can create and calculate different budgets such as income statements, balance sheets, and cash flows. Students are also capable of creating different sub-budgets e.g., for sales, and purchasing. Students can evaluate how the changing demand, costs, and pricing affect the success of a firm. The student knows the key concepts of the course in English. They can evaluate the significance of budgeting for firms in the domestic and foreign markets.

Content

- budgeting process, planning, and control of budgets
- the content of primary budgets, income statement, balance sheet, and cash flow
- content of secondary budgets, e.g., sales, purchasing
- practical implementation of budgets
- reading and reviewing a journal article concerning budgeting

Qualifications

- Analysis and development of business operations
- Financial management of the company

Assessment criteria, satisfactory (1)

The student fulfills the requirements according to the performance rule. The student knows how to prepare simple profit, balance sheets, and financial budgets. He knows master budgets. The student knows how to consider the effects of clear phenomena of economic life on the company's financial chances of success.

Assessment criteria, good (3)

The student fulfills the requirements according to the performance rule. The student knows how to prepare income, balance sheets, and financial budgets based on versatile material, as well as different sub-budgets, such as the sales budget. The student knows how to identify and consider the effects of clear phenomena of economic life on the company's financial success opportunities.

Assessment criteria, excellent (5)

The student fulfills the requirements according to the performance rule. The student knows how to prepare profit, balance, and financial budgets based on demanding material, as well as different sub-budgets, such as the sales budget. The student knows how to consider the effects of complex economic phenomena on the company's financial success opportunities.

Materials

Ikäheimo, Malmi, Walden: Yrityksen laskentatoimi; Pellinen: Talousjohtaminen.

Further information

As part of the course, the student must attend the financial administration case clinic in the autumn semester.