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 statement, balance sheet and cash flows. Students are also capable of creating different sub-budgets e.g. for sales, purchasing. Students can evaluate how the changing demand, costs and pricing affect the success of a firm. Student knows the key concepts of the course also 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
- 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

Materials

- Järvenpää M., Länsiluoto A., Partanen V., Pellinen J. Talousohjaus ja kustannuslaskenta, WSOYpro. Lecturer informs, which parts
- Other material provided by lecturer
- Material acquired by students (e.g. research article)

Teaching methods

Lectures

Student workload

Lectures 16h, independent work 92h

Evaluation scale

1-5

Assessment criteria, satisfactory (1)

Student can complete the targets of the course at a satisfactory level. Student is able to implement primary and secondary budgets at a satisfactory level. Student also knows that different changes affect the firm financial position in primary budgets.

Assessment criteria, good (3)

Student can complete the targets of course at a good level. Student is able to implement primary and secondary budgets at a good level. Student also is able to simulate how different changes affect the firm financial position at good level.

Assessment criteria, excellent (5)

Student can complete the targets of course at an excellent level. Student is able to implement primary and secondary budgets at an excellent level. Student also is able to simulate how different changes affect the firm financial position at excellent level.

Assessment methods and criteria

Moodle exam

Qualifications

- Basics of Accounting
- Financial management of the company