Foundations of Financial Management (5cr)

Objectives

After completing the course student
- understands the vocabulary, main concepts and factors of financial management
- knows what kind of financial reports are used in representing the financial situation of a company
- is able to draw up different calculations for financial planning and target setting
- is able to evaluate and analyze profitability and overall financial situation of an organization
- understands the principals of cost accounting and cost structure
- knows the structure and contents of income statement and balance sheet
- is able to formulate business plan calculations

Content

The course is intended for all Master’s degree students who want to develop their financial management skills regardless of their field. It is also suitable for students from other higher education institutions through cross-institutional studies.

- Main vocabulary and concepts of financial management
- Contents of balance sheet and income statement
- Budgeting and reporting
- The role of key performance indicators and performance metrics
- Business plan
- Sustainability reporting, ESRS, VSME
- Artificial Intelligence supporting financial management

Assessment criteria, satisfactory (1-2)

Student has achieved the objectives of the course sufficiently. Student understands main concepts, calculations and models of financial management and is somewhat able to apply the learning to practise.

Assessment criteria, good (3-4)

Student has achieved the objectives of the course well although the skills and competences are somewhat in need of further development. Studentknows the concepts of financial management and is able to create calculations and models. Student can apply the learning in practical cases.

Assessment criteria, excellent (5)

Student has achieved the objectives of the course excellently. The student masters the concepts, calculations and models of financial management in an excellent manner. Student has good capabilities to apply the learning in practice.