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Management of Economy (8cr)

Course unit code: KSJ210F-9

General information


Credits
8 cr

Content

Type of course:
Compulsory

Level of course:
Professional studies

Objective of course:
Students
- learn the basic concepts of financial management to be able to understand and read financial statements, profit and loss statements and balance sheets as well as other documents of financial management
- can make budgets and follow their realisation
- can make financial plans for new enterprises, count the need for capital and working capital and evaluate repayment periods of investments and loans by budgeting future sales

Course contents:
Basic concepts of financial management, profit and loss statements, balance sheets, budgets, working capital, business risks, solvency, solidity, profitability, cash flow statement. Business plan fields; business idea, branch, products and services, clients, type of action, rivals, calculations: budgeting, financing, need for capital, calculation of working capital. Construction of business plan

Teaching methods:
Lectures and practice work. As practice work, students construct a business plan for a social and health care business. Presentation of the business plan in a seminar.

Assessment methods:
Evaluation of the business plan and presentation on the scale 1-5.
Excellent: Students have used supervision appropriately and demonstrated independence and innovation in making the business plan. Students can critically evaluate their own work. The work has progressed as planned. Students have presented the work in seminars and been able to justify their choices. The business plan demonstrates innovation, originality, creativity, criticality and the ability to apply theoretical information. The plan is considered, finished and justified. All business plan fields have been considered in the plan. The plan demonstrates excellent competence in the field. The work has been considered in a diverse manner and measure and development suggestions have been presented. The work forms an integrated entity. Figures and tables are excellent and create additional value for the work. The text is grammatically correct, objectively written and contains hardly any mistakes.

Prerequisites:
Postgraduate student

Required/recommended reading:
Business establishment
Irma Meretniemi - Hanna Ylönen, Yrityksen perustajan käsikirja, 2008 Otava
Toivo Koski - Markku Virtanen, Liiketoiminnan suunnittelulla menestykseen, 2005 Otava
Financial accounting
Soile Tomperi, Käytännön kirjanpito. 2007. 14-16. painos. Edita Prima Oy.
Anne Eskola - Anne Mäntysaari, Talousosaamisen perusteet, 2007 WSOY
Management accounting
Anne Eskola - Anne Mäntysaari, Menestys - Kannattavuuden hallinnan perusteet, 2006 Otava

Name of lecturer:
Tiina Wickman-Viitala

Year of study:
2nd year

Period
2

Language of instruction:
Finnish

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