Budgeting as a Management Tool (4 cr)
Code: LTVATH501-3011
General information
Enrollment
11.11.2024 - 15.01.2025
Timing
24.03.2025 - 25.05.2025
Credits
4 op
Virtual proportion (cr)
4 op
Teaching languages
- Finnish
Degree programmes
- Bachelor of Business Administration, Business Management
Teachers
- Leena Uusitalo
Scheduling groups
- Avoin AMK (Ei koske tutkinto-opiskelijaa) (Size: 10. Open UAS: 10.)
Student groups
-
MLITA22
Education groups
- Open UAS (Doesn't apply to degree student)
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. Specified chapters.
- Länsiluoto A. Lecture and practice handouts.
- Additional material provided by a lecturer.
- Additional material searched by students (e.g. journal article).
Teaching methods
Teams
Student workload
Lectures 16 h
Independent work 92 h
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
Exam 100%
Qualifications
- Basics of Accounting
- Financial management of the company