Budjeting as a Management Tool
| Structure Type: | Course |
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| Code: | LTVATH501 |
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| Type: | Elective |
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| Level: | Bachelor |
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| Credits: | 4.0 points |
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| Responsible Teacher: | Länsiluoto, Aapo |
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| Language of Instruction: | Finnish |
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Course Implementations, Planned Year of Study and Semester
| Curriculum | Semester | Credits | Start of Semester | End of Semester |
| LITAKO-2015 |
2 spring |
4.0 |
2017-01-01 |
2017-07-31 |
| LITAKO-2016 |
2 spring |
4.0 |
2018-01-01 |
2018-07-31 |
Learning Outcomes
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.
Student's Workload
105 hours (including lectures, practices and independent working)
Prerequisites / Recommended Optional Courses
Analysing and developing a business, 7 cr (LTYP104) & Financial Management of an Enterprise, 4 cr (LTYA103)
Contents
- 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
Recommended or Required Reading
- 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).
Mode of Delivery / Planned Learning Activities and Teaching Methods
- lectures and guided practices
- independent work
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.
Good 4-3
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.
Satisfactory 2-1
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 Methods
To be agreed upon during the course.
Work Placement
Work placement is not included in the course.
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