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The Profitable FirmLaajuus (10 cr)

Course unit code: 3H-303

General information


Credits
10 cr

Objectives

Profitability of business operations is on the focus during this module. Students analyse the financial status of the firm. Furthermore, they familiarize themselves with labour law, payroll management, and debt collection. Students continue and improve their skills in bookkeeping and entry of transactions. Students intensify marketing and sales and learn international business.

FINANCIAL ADMINISTRATION
After completing the course students will
- master basic financial transactions and the monthly forms to authorities
- be able to calculate the most central ratios concerning financial status
- understand how the working capital is tied to a firm and how it can be regulated
- be able to calculate profit margins.

JURISPRUDENCE
After completing the course students will
- know how to collect indisputable debts and can draw up a payment order
- know what enforcement means
- know different proceedings in case of insolvency
- know how the terms of employment contract are determined
- know the main rights and obligations of the employer and employee and the possible consequences for violating the obligations
- know how to terminate an employment relationship and what are the valid reasons for termination

PAYROLL ACCOUNTING
After completing the course students will be able to
- calculate the normal salary for employees and the deductions made before income taxation
- understand how the fringe benefits are taken into account when calculating salaries and how travel expenses are compensated
- calculate overtime earnings based on the Working Hours Act and holiday pays based on the Annual Holidays Act

INTERNATIONALISATION
After completing the course students will
- know the key requirements of international offers and know how to use INCOTERMS in international trade
- know international payment methods and key documents in foreign trade
- know the main principles of INTRASTAT statistics and customs clearance.

SALES WORK
After completing the course students will
- understand how selling affects business profitability
- know the steps of the selling process
- be able to analyse and develop their way of selling.

PRESENTATION SKILLS
See the objectives of Setting up a Firm 3H-301

Content

FINANCIAL ADMINISTRATION
How are financial transactions recorded during the accounting period?
How can the financial status be monitored and analysed?
How can the profit margin be calculated and utilized?

JURISPRUDENCE
What to do in case of delayed payment?
How to collect indisputable debts?
What are the different proceedings in case of insolvency?
How are the terms of employment determined?
How do the collective agreements function?
What are the main rights and obligations of the employer and employee and what are the possible consequences for violating the obligations?
How is an employment relationship terminated?

PAYROLL ACCOUNTING
What kind of payroll systems can be used?
How are salaries calculated?
What kind of compensations can employees have in addition to the normal salary?

INTERNATIONALISATION
What are the international trade terms INCOTERMS?
What are the main international payment methods and documents in foreign trade?
What are INTRASTAT statistics and customs clearance and when are they needed in international trade transactions?

SALES WORK
What is selling?
What different stages does a selling process include?
How can sellers improve their sales?

PRESENTATION SKILLS
See content of Setting up a Firm 3H-301

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