Financial Planning (3cr)

Objectives (course unit)

The course presents the common financial practices when setting up a company, planning business profitability and working capital needs. The approach is practical with case studies.

After completing the course, the students will be able to:
• Adopt the key elements for stable financial position of a company
• Estimate and simulate profitability, Cost-Volume-Profit analysis
• Prepare relevant financial projections for starting a company, budgeting
• Set the needs for working capital
• Attach financial plans, as part of business plan

Content (course unit)

• What are the factors of profitable business?
• How to make company profit and loss budget?
• How to estimate cash flow needs?
• How to simulate and improve company profitability?
• What are the local aspects of company financials?

Location and time

The course takes place during period 2, detailed weekly calendar is to be set by TAMK officials.

Exam schedules

The exam is to be informed during the first lecture. The retakes are informed as needed, mimimum once per period.

Assessment methods and criteria

The course evaluation based on exam, 100%.

Assessment scale

0-5

Teaching methods

The course covers contact teaching, exercises and team working.

Learning materials

The course is based on slides and exercises provided by the lecturer. In addition there is a book as a voluntary extension: Accounting & Finance, an introduction, McLaney - Atrill, any edition.

Student workload

The course is 3 credits, 81 hours of studying.

Content scheduling

There are 5 lectures and the exam during this course. The content is as follows:

1. Capital needs
2. Business profitability, CVP
3. Profitability and pricing
4. Profitability exercises
5. Budgeting
6. Exam

Completion alternatives

-

Practical training and working life cooperation

-

International connections

-

Further information

-

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

Student is not able to make basic management accounting calculations.

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

Student is able to make basic profitability calculations and understands the concept of profitability.

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

Student is able to make all financial management accounting calculations and also is able to understand the financial needs of a starting company.

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

Students connects the theory of profitability in professional manner, within budgeting and practical approach of capital needs. He aligns the concept of price elasticity with financial outcome.