Budgeting as a Management Tool
| Structure Type: | Course |
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| Code: | KD07CLLA190 |
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| Type: | Elective |
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| Level: | Bachelor |
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| Credits: | 5.0 points |
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| Responsible Teacher: | Länsiluoto, Aapo |
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| Teacher Team: | 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-2013 |
3 spring |
5.0 |
2016-01-01 |
2016-07-31 |
| LITAKO-2014 |
3 spring |
5.0 |
2017-01-01 |
2017-07-31 |
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
130hours (including lectures, practices and independent working)
Prerequisites / Recommended Optional Courses
Analysing and developing a business, 9 op (KD07APYR105) & Basics of Financial Management, 2 op (KD07BLLA011)
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
Recommended or Required Reading
- Järvenpää M., Länsiluoto A., Partanen V., Pellinen J. Talousohjaus ja kustannuslaskenta, WSOYpro. Luennoitsijan ilmoittamin osin.
- Länsiluoto A. Lecture handouts.
- Other material provided by the teacher
Mode of Delivery / Planned Learning Activities and Teaching Methods
- lectures and guided practices
- independent work
Assessment Criteria
Excellent 5
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 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 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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