Opinto-opas

Osaamistavoitteet

This course offers the students a chance to enhance their knowledge and managerial skills of financial planning and control as well as performance measurement and evaluation to a professional level.

The course is based on modern management accounting methods, frameworks and practices, laying a solid foundation on which continuing business studies and a serious business career in the field of accounting and finance can be built later on. The contents and learning experiences of the course are planned to be useful and generally applicable for every business professional.

After completing the course, students will be able to:

Prepare the major budgets of a company and participate in creation of budgeting systems.
Analyze business performance and participate in decision-making and business planning using standard budget reports.
Create business forecasts for the future, based on budget reports and other relevant business information.
Calculate the value of economic value added (EVA®) measure and utilize the DuPont approach to the return on investment (ROI) measure.
Participate in planning and implementing tailor-made strategic performance management solutions for various business cases.
Consider and try to include the effects of latest technological innovations and human aspects in any of their later business development projects.

Sisältö

Which budgets does a modern budgeting system – “The Master Budget” – include, and how can a tailored version be constructed?
How can the planning and control processes of a decentralized organization be managed using budgets, reports and supporting IT tools?
What different approaches are there for strategic performance measurement and evaluation?
What are the roles of human considerations, e.g. gaming, intangible assets and management myopia, as part of system creation?
How are the values of advanced measures such as economic value added (EVA®) calculated, and how can business reporting become more lively through visualization?
How can technology help in planning and control; what kind of insights do e.g. ERP systems, business intelligence and the current strong development of digitalization, mobile services and Internet of Things (IoT) offer to companies?
How is a strategy-bound performance management framework built and used in practice?

Arviointikriteerit, tyydyttävä (1-2)

Student is able to determine and use the concepts and methods of financial planning and control as well as the performance measurement and evaluation theme sufficiently. Student can take responsibility of his individual financial planning and reporting duties in routine activities, and is able to produce some contribution in a group.

Arviointikriteerit, hyvä (3-4)

Student has achieved the competence of applying and explaining the concepts and methods of financial planning and control as well as the performance measurement and evaluation theme in controllable situations. Student works actively and cooperates responsibly and constructively both individually and in a group. Student can solve financial planning and measurement problems, and his courses of action are well justified.

Arviointikriteerit, kiitettävä (5)

Student can analyse even complex situations and produce alternative solution proposals to various financial planning and control as well as performance measurement and evaluation tasks and problems. Student is able to apply his extensive knowledge and skills of the subject matter creatively in problem solving, solution tracing, new experiments, and when generalising his well-justified courses of action. Student can work strongly individually and produces remarkable contribution to group work, cooperating responsibly, constructively and flexibly with excellent commitment.