Study Guide

Objectives

During the course, the student becomes familiar with payroll and learns to use mathematics for financial planning and monitoring. The course is aimed especially at those who choose financial management or HR and front-line work orientation studies in the business administration degree program.
- knows the effects of changes in prices and the value of money and knows how to deal with them in calculations
- can make calculations between currencies and can make calculations about the effects of a change in the value of the euro
- can make financial calculations applying interest and compound interest calculations
- can use a spreadsheet program in calculations.
- can calculate the amount of the employee's salary subject to withholding tax and deductions from the salary subject to withholding tax
- knows the calculation criteria for fringe benefits and the compensation criteria for tax-free travel expenses
- can calculate overtime pay based on the Working Time Act and vacation pay according to the Annual Leave Act.

Content

How is inflation measured and what does it have to do with the value of money?
When and how is the change in the value of money taken into account in the calculations?
How is the currency conversion done with different exchange rates?
What is the effect of exchange rate changes on consumers and companies?
What are the different ways to repay the loan and how do they differ from each other?
How can the total price of different loan options be compared?
How are the properties of table calculation utilized in the calculations?
How is the amount of withholding tax withheld from salary calculated?
What other deductions are made from the salary in addition to withholding?
What are fringe benefits and how are they treated in payroll?
What kind of compensation must be paid to the employee for working overtime?
What are reimbursements for travel expenses and how are reimbursement amounts determined?

Assessment criteria, satisfactory (1-2)

The student knows the most important concepts and can make simple calculations regarding the value of money, currencies and loans. The student can perform calculations using a spreadsheet program.
The student recognizes the basic concepts related to payroll. The student mainly knows how the salary to be paid to an employee is determined. At a basic level, the student knows how to apply the payroll regulations to calculation situations similar to those learned in advance, but there are also shortcomings in the student's ability to apply the knowledge.

Assessment criteria, good (3-4)

The student knows the concepts and their properties. The student recognizes the starting values ​​needed in calculations in various practical situations and copes with calculations that are more challenging than simple calculations. The student can evaluate the correctness of the result. The student knows how to make use of the calculation-enhancing features offered by spreadsheets.
The student knows the concepts and key procedures related to payroll. The student knows how the salary to be paid to an employee is determined. The student knows how to apply payroll regulations to practical calculation situations and also knows how to apply knowledge.

Assessment criteria, excellent (5)

The student knows how to apply what he has learned in various issues related to economics and finance. The student knows the concepts and their effect on the calculations and is thus able to evaluate the correctness of the results. The student is able to make more challenging calculations, where several starting values ​​must be taken into account. The student knows how to effectively utilize the calculation-enhancing features offered by spreadsheets.
The student understands payroll as a whole and knows the related concepts and key procedures excellently. The student understands how the salary to be paid to an employee is determined, and can, if necessary, also search for information and solution options for challenging calculation situations.