Financial Management (5 cr)

Evaluation scale

H-5

Content scheduling

The Course focuses on topics in the field of Management Accounting and Financial Statements (Profit/Loss Statement + Balance Sheet) and their Key Figures (what they are and what they mean in theory and in practice for a manager).

This course is similar to groups YBINBK24 (MBA in Business Management) and YSMANK24 (MBA in Sales Management). These groups have the same 1 st contact teaching day (mass lecture in a big auditorium), but separate 2 nd contact teaching day in small groups where we do investment calculations.

The two contact days are:

On Friday 13.9.2024, between 9-12 o´clock, in Turku, in room: LEM_A309. For 70 persons
On Thursday 31.10.2024, between 9-12 o´clock, in Turku, in room: EDU_3003.
12-16 o´clock, in Turku, in four (4) 5-15 persons group working rooms: ???

Objective

After completing the course, the student is able to:
-understand Basics of Financial and Management Accounting and Reporting
-understand Basics of Duple Entry (Bookkeeping) System, Profit and Loss Statement, Balance Sheet and Cash Flow -Calculation and Financial Key Figures
-understand Basics of Management Cost Accounting and Reporting
-understand Different kind of Unit Costing Methods and Their Effects on Inventory Values and on Profit and Loss Statement
-manage the budgeting process and knows how to make sub- and main budgets
-do investment calculations and suggestions and evaluated them

Content

What is the difference between Financial and Management Accounting and Reporting
Basics of Duple Entry (Bookkeeping) System, Profit and Loss Statement, Balance Sheet, Cash Flow Calculation and Financial Key Figures
Basics of Management Cost Accounting and Reporting
Different kind of Unit Cost Accounting Methods and Their Effects on Inventory Values and on Profit and Loss Statement
Budgeting
Investment calculations and suggestions

Materials

Will be mentioned in ITSLEARNING System. The execution plan of the course will be open for students in ITSLEARNING system about 1-2 weeks before the first contact teaching day.

The "reference" books in the course are:
"Financial Management for Financial Managers" (Marsh, C., 2012 or newer, Kogan Page)
- ebook at TUAS library
and
”MANAGEMENT AND COST ACCOUNTING” BY COLLIN DRURY (THOMSON, 2005 or newer)

Other materials, which has been put into ITSLEARNING -system.

Teaching methods

Multi-Form Pedagogy (InnoPeda): Two (2) contact teaching days plus (2) individual and group (1) home assignments, which reports will be submitted into ITSLEARNING -system and evaluated By the teacher.

The group assignment is an investment decision-making exercise where groups of 3-5 students must do investment calculations and suggestions from the case, that the teacher gives. The case is the same for all groups. These groups are selected randomly during the first contact teaching day.

The teacher will send to students a survey about 2-3 weeks before the first contact teaching day. He wants to know what kind of previous studies, expertise, and experiences students have in the field of management accounting. This is not a pre-assignment, but a survey, which will not be evaluated. It helps teacher to focus the course better for students depending on their professional background.

Students must submit their answers to this survey as a file into ITSLEARNING -system by Monday 9.9.2024. The teacher tries to focus on the content of the contact teaching days based on the results of this survey.

Exam schedules

No exams, but three (3 ) home assignments.

International connections

Multi-Form Pedagogy (InnoPeda): Two (2) contact teaching days plus individual and group home assignments, which reports will be submitted into ITSLEARNING System and evaluated By the teacher.

The course focus on the financial part of the sustainability.

Completion alternatives

No optional ways to complete the course.

Student workload

Multi-Form Pedagogy (InnoPeda): Two (2) contact teaching days plus individual and group home assignments, which reports will be submitted into ITSLEARNING System and evaluated By the teacher.

Home assignments will be described in ITSLEARNING System and introduced during the first contact teaching day.

The scope of the course is 5cr=135 hours of student´s own work=16 hours contact teaching days + 119 hours individual studying/home assignments.

Further information

Email: keijo.varis@turkuamk.fi