Cost accounting, budgeting, analysis and financial management (6 cr)

Content (course unit)

Type of course
compulsory

Level of course
professional studies

Objective of course
The student masters production and utilisation of economic information in the planning, decision making and control of business activities and economy. The student is able to make use of cost accounting in pricing, evaluate calculations and analyse the impact of different factors on profitability. The student knows how to influence the plans, financial position and liquidity of companies and can make good financial decisions for companies. The student can evaluate and interpret financial statements and operational preconditions. The student is able to make use of economic information in organisation management. Studies are based on activity, critical evaluation and decision making skills as well as willingness to influence.

Course contents
Full costing
Production value and absorption cost in different production types
Pricing calculations and their impact on profitability
Budgeting process and budget control
Budgets in management
Idea and principles of financial statement analysis
Ratio analysis and influence on ratios
Use of cash flow and fund statements in financial management
Investment decisions and calculations

Teaching methods
Lectures and exercises

Assessment methods
Lecturer, self and peer evaluation of exercises and examination

Prerequisites
Management accounting

Required reading
Will be agreed on at the beginning of the course

Language of instruction
Finnish

Name of lecturer
Pirjo Sammalkangas

Year of study/semester
3rd year