Management Accounting 2 (5cr)

Evaluation scale

0-5

Content scheduling

The course includes independent familiarization with literature and videos as well as lectures and exercises and assignments.

Objective

The object of the course
The aim of the course is to provide you with tools to apply different calculation methods with the help of practical examples so that you can assess the company's financial situation. In addition, you use the tools of profitable business operations and evaluate the information produced by calculation systems to develop operational business operations. You also utilize forecasting information in the management of profitable operations.

Course competences
Proactive development - Student is able to seek customer-oriented, sustainable and economically viable solutions, anticipating the future of their field.
Operating in a workplace - Student utilizes the opportunities offered by technology and digitalization in their work.
Business competence - Student is able to utilise knowledge-driven leadership to support decision-making.

The learning objectives of the course
After completing the course, you have learned practical calculation methods, creating graphical representations, and you analyze and interpret financial information. You know the concept of a balanced scorecard and its role from the point of view of management accounting. You identify, examine, and compare alternative development targets from the point of view of operational efficiency and profitability. You prepare calculations considering the aspects of financing, cash flow, investments, costs, and profitability. You also familiarize yourself with project accounting.

Content

The course covers topics related to management accounting, such as managing and measuring performance, as well as data acquisition, processing, analysis, communication, and reporting. The course also covers linear optimization, mathematical models, and risk management with related calculations. In addition, you learn about management accounting systems and the basics of managing with information. Suitable systems are used when dealing with course topics.

Materials

Neilimo K. & Uusi-Rauva E. Johdon laskentatoimi. 2014. Helsinki. EDITA: luvut 1-7, 9 ja 12-14 (myös aikaisemmat painokset mahdollisia).

Järvenpää M., Länsiluoto A., Partanen V. & Pellinen J. Talousohjaus ja kustannuslaskenta. WSOYpro, Helsinki, 2020 (myös muut painokset mahdollisia).

Teaching methods

Independent learning assignments
Video materials
Assignments in pairs
Guidance and feedbac

Exam schedules

Exam will be held in a classroom on week 15. Two resit examinations will be held in Exam.

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

Allocation of time on various tasks and student work load in total 135 h
Lectures and exercises 20 h
Independent study and independent learning assignments 35 h
Other assignments in pairs 80 h

Assessment criteria, satisfactory (1)

Sufficient 1
You recognize factors affecting the efficient use of capital and name key factors in performance measurement. You know the concepts related to the balanced scorecard. You understand the basic principles of investment calculations and prepare an investment calculation for an example company. You recognize project-related control mechanisms, and key factors related to project financing and cash flow. You know how reports can be used to guide business operations.

Satisfactory 2
You identify the factors affecting the efficient use of capital in an example company and you name the key factors of performance measurement in companies operating in different industries. You interpret a balanced scorecard. You make an investment calculation and a cost control calculation for an example company as instructed. You recognize factors affecting project steering mechanisms in the example company, and name key factors in project financing and cash flow in companies operating in different industry sectors. You draft reports to support operational business management.

Assessment criteria, good (3)

Good 3
You define the factors affecting the efficient use of capital in an example company, and the key factors of performance measurement in companies operating in different industries. You define the key elements of a balanced scorecard in companies operating in different industries. You prepare error-free investment calculations and cost control calculations and apply calculation methods to support the financial management of projects. You prepare a profitability analysis based on investment calculations and cost control. You define factors affecting project steering mechanisms in the example company, and key factors in financing and cash flow in companies operating in different industry sectors. You illustrate the role of the reports you produce in managing the business operation.

Very good 4
You define the effects of the efficient use of capital in an example company, and the meaning of performance measurement in companies operating in different industries. You understand the importance of a balanced scorecard in companies operating in different industries. You develop profitability analyses based on investment calculations and cost control calculations. You define the effects of project steering mechanisms in the example company, and the significance of financing and cash flow in companies operating in different industry sectors. You develop visual reports to guide business operations.

Assessment criteria, excellent (5)

Excellent 5
You evaluate the effects of the efficient use of capital in an example company and report on the activities taken based on it. You evaluate the impact of performance measurement in companies operating in different industries. You evaluate the role of the balanced scorecard in companies operating in different industries. You plan activities based on investment calculations and cost control calculations, which influence the profitability of projects. You analyze the impact of project steering mechanisms on the example company and report the actions taken based on it and the impact of financing and cash flow in companies operating in different industry sectors. You evaluate a company's financial performance and profitability using various ratios and measurements. You design and develop visual reports to guide operations.

Qualifications

Pricing strategies and methods
Cost-volume-profit thinking and break-even analysis
Profitability and cost concepts
Budgeting (profit budget, cash budget, balance sheet forecast)
Impact of financing/capital structure to profitability
Cost accounting (cost types, cost centers)
Processes (digitalization, automation)
Activity-based-costing and cctivity-based-management analysis (customer, project, process, etc.)
Depreciations
Valuation of inventory

Further information

The assessment of the course is based on the following credits:
1) exercises and assignments (60 %)
2) exam (40 %)