Financial management (5 cr)

Evaluation scale

0-5

Objective

The object of the course

In the management of any organization, you must deal with financial matters. Financial management involves the interaction and cooperation of internal and external organizational stakeholders to achieve the organization's (financial) goals. In this course, you become acquainted with the methods, principles, and practices of financial management from the perspective of general management of an organization.

Course competences

Learning to learn: The student is able to acquire, critically assess and produce information while taking into account the perspectives of different fields.
Ethics: The student implements the principles of responsible conduct of research and promotes their application in their work community.
Proactive development: The student is able to analyse the current situation and anticipate the future of their field and changes in the operating environment.

The learning objectives of the course

You acquire information on the key methods, principles, and practices of financial management from the perspective of organizational general management and research in the professional field. You examine their significance in your own work. You identify and analyze financial management practices and issues, as well as your own financial management capabilities and skills for improving operations. You choose and justify a target for the development and reform of organizational financial management, which you analyze. You develop in applying the principles of good scientific practice.

Content

Profitability, contribution margin thinking, activity-based analysis, performance measurement, key figure analysis, investments, budgeting, cash flow, forecasting, sensitivity analysis

Materials

Järvenpää, M., Länsiluoto, A., Partanen, V. & Pellinen, J. (2013). Talousohjaus ja kustannuslaskenta (2. uud. painos). Helsinki : Sanoma Pro. ISBN 978-952-63-2005-2 (nidottu).
Neilimo, K. & Uusi-Rauva, E. (2005). Johdon laskentatoimi. (6. uud. painos). Helsinki : Edita. ISBN 978-951-37-4109-9 (nidottu).
Pellinen, J. (2019). Kustannuslaskenta ja kannattavuusajattelu (3. uud. painos). Helsinki : Alma Talent. ISBN 978-952-14-3588-1 (verkkoaineisto) ja ISBN 978-952-14-3586-7 (nidottu).
Pellinen, J. (2017). Talousjohtaminen (2 uud. painos). Helsinki : Alma Talent. ISBN 978-952-14-3009-1 (verkkoaineisto) ja ISBN 978-952-14-3007-7 (nidottu).
Videos of Eduhouse

Teaching methods

Webinars
Literature
Video material
Exercises and assignments

Exam schedules

An exam is not part of this course.

Completion alternatives

A corresponding course completed in another university may be accredited partially or completely. Competence acquired through informal learning may be recognized and accredited on the basis of competence test. More precise instructions can be found in Degree Regulations and in Study Guide.

Student workload

Student's time usage in total 135 h
Webinars 5 h
Video material 10 h
Literature 25 h
Exercises and assignments 95 h

Assessment criteria, satisfactory (1)

Sufficient 1
You recognize the key methods, principles, and practices of financial management in the general management of an organization. You acknowledge their significance in your own work. You identify challenges in financial management, and your own financial management skills and practices. You tell about the field of financial management and research and apply the principles of good scientific practice. You name areas for development and reform in organizational financial management.

Satisfactory 2
You understand the key methods, principles, and practices of financial management in the general management of an organization. You describe their significance in your own work and engage in discussions about them. You differentiate challenges in financial management, and your own financial management skills and practices. You explain in your own words the field of financial management and research and apply the principles of good scientific practice. You describe how an organization's financial management can be developed and renewed.

Assessment criteria, good (3)

Good 3
You illustrate the key methods, principles, and practices of financial management in the general management of an organization. You apply them in your own work and present them. You explain financial management challenges, as well as your own financial management skills and practices. You present the field of financial management and research and apply the principles of good scientific practice. You illustrate how an organization's financial management can be developed and renewed.

Very good 4
You delineate the key methods, principles, and practices of financial management in the general management of an organization. You structure them in your own work and engage in debates about them. You analyze financial management challenges, as well as your own financial management skills and practices. You integrate the field of financial management and research and apply the principles of good scientific practice. You illustrate how an organization's financial management can be developed and renewed.

Assessment criteria, excellent (5)

Excellent 5
You evaluate the key methods, principles, and practices of financial management in the general management of an organization. You justify their use in your own work and defend them. You relate financial management challenges, and own financial management skills and practices. You assess the field of financial management and research and apply the principles of good scientific practice. You plan how an organization's financial management can be developed and renewed.

Further information

The assessment in the course is based on the competence demonstrated in learning assignments which are done individually, in pairs or in groups (100 %, 5 ECTS credits).