Money in Business (5cr)

Objectives (course unit)

The student will be able to:
• understand and calculate the key figures depicting the financial situation of an enterprise.
• calculate profit margins and understands the role of operating capital in an enterprise.
• read and interpret essential information on profit and loss statements and balance sheets to support the development of his/her own enterprise.
• understand the basic concepts of cash management and its relevance for his/her own business activities.
• work out a cash budget and a performance budget.

Content (course unit)

How to follow up and analyze the financial situation of the enterprise?
How to calculate the profit margin of the goods and services and how can it be utilized?
Where does an enterprise acquire capital and what is its role in business activities?
How to develop the processes of an enterprise based on cash management?
How to direct business operations through budgeting?

Assessment criteria, satisfactory (1-2) (course unit)

The student is able to recognize basic financial concepts and, with support, explain and calculate the key financial figures. The student can calculate profit margins and knows how to acquire capital for the enterprise. The student is able to, together with others, analyze the financial situation of the enterprise.

Assessment criteria, good (3-4) (course unit)

The student knows how to analyze the financial situation of the enterprise. The student is able to calculate profit margins and utilize the information gained from them. The student knows how to acquire capital and understands its role for the enterprise. The student knows how to follow up on the business operations of the enterprise based on the budget sheet.

Assessment criteria, excellent (5) (course unit)

The student is able to analyze the financial situation of an enterprise both in theory and in practice. The student masters profit margin calculation and can fully utilize information gained from it. The student knows how to acquire capital for the enterprise and is able to fully explain its role in the business activities. The student is able to work out a cash budget and a performance budget.

Location and time

To be notified.

Exam schedules

Essay and portfolio deadlines will be notifed on the first training session. Deadlines must be met. All other exercises and homework must be returned according to the course schedule (more information on training sessions).

Assessment methods and criteria

In order to complete the course, the student will have to participate in training sessions, carry out the given homework or pre-tasks and submit the required exercises (group exercise, essay, portfolio) on time. The students will be graded on a scale from 0 to 5, and the evaluation will be based on learning process.

Assessment scale

0-5

Teaching methods

The course will be based on team learning and dialogue. The course consists of training sessions, exercises that are carried out independently and in groups, an essay and a portfolio. Participation in training sessions is mandatory.

Learning materials

Study material will be provided in training sessions and shared in Moodle. Students are encouraged to actively seek for information and find suitable sources for further reading. Recommendations for further reading will be shared on training sessions as well.

Student workload

In order to complete the course, the student is required to carry out the following parts on a satisfactory level:
• training sessions (ca 48 h)
• homework and pre tasks (ca 20 h)
• group exercise (ca 20 h)
• essay (ca 12 h)
• portfolio (ca 33 h)

Content scheduling

The course focuses on five main themes, which are discussed on the training sessions: budgeting, pricing, accounting, taxation and financial key ratios. More information about the schedule on training sessions.

Completion alternatives

An active participation is a requirement for completing the course, because training sessions and team learning are the core methods on this course.

Practical training and working life cooperation

The student will begin the practical training (in the team company) after this course, so the main objective of this course is to offer knowledge and skills that are useful both while establishing a team company and in future business life. Experts, guest lecturers and visits will be utilized if possible

International connections

Because the course is a part of the English degree programme, international aspects are present all the time. The focus on this course will be financial management in Finland and in Finnish business life, but other aspects will be taken into consideration if the group has a special need for it.

Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

Failed, if the student isn’t able to recognize the basic financial concepts and doesn’t understand how to calculate profit margins or the key financial figures. The student isn’t able to draw up a budget for the enterprise or analyse the financial situation of the enterprise.

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

The student is able to recognize basic financial concepts and, with support, explain and calculate the key financial figures. The student can draw up a budget for the enterprise, calculate profit margins and knows how to acquire capital for the enterprise. The student is able to, together with others, analyse the financial situation of the enterprise.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

The student knows how to analyse the financial situation of the enterprise. The student is able to calculate profit margins and utilize the information gained from them. The student knows how to acquire capital and understands its role for the enterprise. The student knows how to follow up on the business operations of the enterprise based on the budget sheet.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

The student is able to analyse the financial situation of an enterprise both in theory and in practice. The student masters profit margin calculation and can fully utilize information gained from it. The student knows how to acquire capital for the enterprise and is able to fully explain its role in the business activities. The student is able to work out a cash budget and a performance budget