Profitability and Cost Accounting (5 cr)

Evaluation scale

0-5

Objective

Objectives
On completion of this course you are able to make profitability and cost accounting. You can use calculations to manage agribusiness operations. You can calculate profitability and costs for your business plan.

Competences
Business know-how
Entrepreneurship

Learning outcomes
On this course you will learn the concept of return and costs, principles of gross margin accounting and its application. On completion of this course you can make profitability calculations of crop production or domestic animal production, or other product or operation connected calculations. You can make cost and price setting calculations. You are able to value different types of property and determine capital costs. You can utilize internal calculation to manage agribusiness operations. You can make profitability and cost calculations for your business plan.

Content

variable cost, fixed cost, total production cost, return, gross margin, net profit margin, labour cost, cost of machine work, pricing products, property value setting, capital cost, using internal accounting in agribusiness management, calculations for business plan

Location and time

Lähiopetuksena Tarvaalassa, muutoksista ilmoitetaan erikseen

Materials

Maatalousyrityksen johtaminen ja toiminnan kehittäminen, Ryhänen M, Sipiläinen T.
Palva, R. 2019. Konetyön kuntannukset ja tilastolliset urakointihinnat. TTS julkaisuja 447.

Teaching methods

Luennointi
Laskuharjoitukset/tehtävät
itsenäinen opiskelu

Student workload

contact lessons 28 h
assignments 103 h
exam 4 h
Total 135 h

Assessment criteria, satisfactory (1)

Sufficient 1: You know the concept of return and costs and can recognize variable costs, fixed costs and returns of a production field. You are able to make gross margin, total production cost and cost accounting under guidance. You know some property valuation methods. You know some occasions where to utilize calculations in agribusiness management. You can calculate profitability and costs for your business plan under guidance.

Satisfactory 2: You know the concept of return and costs, and can recognize variable costs, fixed costs and returns of a production field. You are able to make gross margin, total production cost and cost accounting independently. You know some property valuation methods and can apply them in varying situations. You can choose a suitable calculation formula for the planning situation at hand. You can calculate profitability and costs for your business plan.

Assessment criteria, good (3)

Good 3: You know the concept of return and costs, and can specify variable costs, fixed costs and returns of different production fields. You are able to make gross margin, total production cost and cost accounting in varying situations. You know some property valuation methods and can apply them in varying situations. You can analyze business performance based on profitability and cost calculations. You can calculate profitability and costs for your business plan independently.

Very good 4: You know the concept of return and costs, and can specify variable costs, fixed costs and returns of different production fields. You are able to make gross margin, total production cost and cost accounting in varying situations. You know property valuation methods and can apply them in varying situations. You can analyze business performance based on profitability and cost calculations and can utilize calculations in agribusiness management. You can calculate profitability and costs for your business plan independently and in a versatile way.

Assessment criteria, excellent (5)

Excellent 5: You know the concept of return and costs, and can independently specify variable costs, fixed costs and returns of different production fields. You are able to make gross margin, total production cost and cost accounting in varying situations. You know property valuation methods and can independently apply them in varying situations. You can analyze critically business performance based on profitability and cost calculations and can utilize calculations in agribusiness management. You can calculate profitability and costs for your business plan independently, in a versatile way and evaluate them critically.

Further information

Exam and assignments 50%-50%