Opetussuunnitelmat

Objective

Learning Outcomes: The purpose of the Management Accounting course is to enhance your knowledge and understanding, and intellectual skills principally in the field of accounting data analysis, which can be subsequently applied to make interpretations and draw inferences in the field of corporate finance, corporate governance and financial management.
The course aims to develop the following Intended Learning Outcomes (ILOs):
- 1. Applied Business Skills (IBBUS)
Analyzing the financial statements of corporates to ascertain their financial health by applying various techniques and methods learned in the field of Management Accounting and Economics in different business situations to solve challenging business problems optimize planning and risk management strategies.
-2 Skills in Critical and Analytical Understanding (IBCRI)
Reviewing academic literature critically, analyzing and evaluating financial and other business data, deliberating diverse approaches, comparing the resultant outcomes, and making value additive informed business decisions and action plans. Understanding of the true, objective and unbiased financial information that helps managers to plan, revise and revisit their business strategies, financial targets, policy formulation, and planning process. The process of understanding how financial accounting information assists to make the corporate decision-making process is a core element of this course.
-3 Communication Skills (IBCOM)
Communicating the inferences made and interpretations drawn based on the financial data analysis responsibly, effectively and professionally in English, including in written reports, presentations, formal correspondence, and on social media.
-4 Intercultural Collaboration Skills (IBCOL)
Participating enthusiastically in inter- and multicultural settings, demonstrating team building and leadership skills, and implementing conflict resolution skills in numerous situations.
-5 Ethical Conduct (IBETH)
Promoting moral and ethical mindset and conduct to ascertain and disclose true and unbiased financial health of the companies. Safeguarding interests of different stakeholders in an unbiased manner to promote corporate value system which is humane, fair and equitable.
The purpose of the Management Accounting course is to enhance your knowledge and understanding, and intellectual skills principally in the field of management accounting and more importantly their linkages with the issues pertaining to corporate finance, and strategy.
According to above-mentioned Intended Learning Outcomes (ILOs) you will find exposure to numerous situations, whereby you record and present financial accounting data in such a manner that the users of financial accounting statements can know about the real financial health of the firm being analyzed. The true, objective and unbiased financial information help managers to plan and revise their business strategies, check financial health, policy formulation and planning process. The process of understanding how financial accounting information assists to make corporate decision-making process is a core element of this course. You are also expected to understand different management accounting functions and applications, diverse management accounting techniques, methods and tools in different business situations in order to solve challenging business problems. You will understand the relevance of the high-quality accounting information and their multiple interpretations in the business life, which ultimately optimize planning, strategies, risk management and business-decision making.
You are further expected to understand that accounting is not isolation of overall business strategy of corporates. You will create and produce indicators describing the success of operations based on cause/consequence logic, as well as able to collect information pertaining to corporates needed for measurement. You will identify the economic requirements and the resource requirements related to personnel, necessary to achieve the abovementioned objectives. You will use budget information as a tool for examining and evaluating the results and analyze financial risks of a firm and manage them.

Content

Theoretical aspects of accounting, financial statement analysis, financial performance measurement, regulatory framework, corporate governance and ethical issues of accounting, financial ratio analysis, corporate valuation, balanced scorecard as a tool for strategic budgeting, economic value added (EVA), dynamics of corporate boards of directors, corporate accountability, cost concepts, absorption costing, pricing, planning and budgeting, fundamental of financial management, capital investment appraisal, financial risk management.

Location and time

Spring of each academic year.

Oppimateriaali ja suositeltava kirjallisuus

Lectures slides will be the starting point to learn the subject matter of the course.
Books: Barry Elliott, Jamie Elliott: Financial Accounting and Reporting, Pearson Education, 17/E.

Proctor, Ray: Managerial Accounting for Business Decisions. Prentice Hall 2009, Third Edition. Part 5.
Russell David, Patel Ashok & Wilkinson-Riddle Gregory: Cost Accounting An Essential Guide. Pearson Education Ltd.
Atkinson Anthony, Kaplan Robert, Matsumura Ella & Young Mark: Management Accounting. Prentice Hall.
Brealey, Richard A., Myers, Stewart C. and Allen, Franklin: Principles of Corporate Finance. McGraw-Hill.

Web Based Resources:
https://uk.finance.yahoo.com/
http://www.reuters.com/
http://online.wsj.com/europe
http://www.ifrs.org/Pages/default.aspx
Corporate Websites (for Management Accounting, Financial Accounting and Financial Management group presentations and assignments/individual assignments)
Research articles and videos will be shared from time to time.

Teaching methods

The primary modes of delivery are face-to-face learning (lectures, workshops, presentations), and occasional distance learning (e.g. online lectures and presentations) and hyflex learning mode.

Exam schedules

Last week of May. Retake possibilities available in the following Autumn and Spring.

International connections

International projects in collaboration with partner universities abroad. Possibility of participation in the corporate projects too.

Student workload

You will be required to required to invest 135 hours approximately and the break up of the total time is as below:
Lectures: 40 hours
Workshop: 15 Hours
Assignment Preparations: 20 Hours
Examination Preparations: 50 Hours
Miscellaneous: 10 Hours

Further information

Open UAS: 4 (included in the total capacity)

Evaluation scale

0-5

Arviointikriteerit, tyydyttävä (1-2)

Assessment criteria

Items of Assessment:

1. Assignment 1 (50%): Group Assignment (4-5 students) including report (word), calculations (excel) and presentation

OR

Individual Assignment including report (word), and calculations (excel). No presentation required if you choose to do Assignment 1 individually.

Submission deadline: to be notified later via Assignment 1 Return Box

2. Written Exam (50%): Exam will be held

How learning will be assessed:
The general criteria of the competences of the Bachelor's Degrees awarded by Finnish Universities of Applied Sciences.
The learning outcomes of individual courses are assessed in relation to the objectives of the course concerned. Assessment is based on knowledge, skills and competence in accordance with the National and European Qualifications Framework, level 6.

A. Closed Book Written Exam
You will get a grade of ‘one’ if you are able to demonstrate a basic level of evidence of the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), and Communication Skills (IBCOM).
You will get a grade of ‘two’ if you are able to demonstrate satisfactory level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), and Communication Skills (IBCOM).

B. Group/Individual Assignments
You will get a grade of ‘one’ if you are able to demonstrate very basic level of evidence of the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), and Communication Skills (IBCOM).
You will get a grade of ‘two’ if you are able to demonstrate satisfactory level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), and Communication Skills (IBCOM).

Arviointikriteerit, hyvä (3-4)

A. Closed Book Written Exam
You will get a grade of ‘three’ if you are able to demonstrate good level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), and Communication Skills (IBCOM).
You will get a grade of ‘four’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), and Communication Skills (IBCOM) and you are able to demonstrate clearly some evidence of Ethical Conduct (IBETH).

B. Group/Individual Assignments
You will get a grade of ‘three’ if you are able to demonstrate good level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), and Communication Skills (IBCOM).
You will get a grade of ‘four’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), and Communication Skills (IBCOM) and you are able to demonstrate clearly some evidence of Ethical Conduct (IBETH).

Assessment criteria, excellent (5)

A. Closed Book Written Exam
You will get a grade of ‘five’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), and Communication Skills (IBCOM) and you are able to demonstrate clearly a significant evidence of Ethical, Sustainable and Ethical Conduct (IBETH).

B. Group/Individual Assignments
You will get a grade of ‘five’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), and Communication Skills (IBCOM) and you are able to demonstrate clearly a significant evidence of Ethical Conduct (IBETH).