Study Guide

Learning outcomes

The student is able to
- prepare operational budgets and the master budget and link the budgets to each other
- understand the key issues in strategic budgeting, eg. long-term budgeting, balance sheet, investment planning, growth strategies
- make conclusions on past performance and act respectively in future planning
- understand the behavioral implications of the budgeting process
- use Balanced Scorecard as a planning tool
- set targets for an organization using financial ratios and key performance indicators (KPI)

Teaching methods

Intensive days and individual assignments.

Learning materials and recommended literature

Will be updated in Canvas.

Important dates

In order to confirm your participation you need to be present in the first lecture. If you cannot be there, you need to contact the teacher. Your registration can be rejected, if you do not follow this procedure.

Forms of internationality

This study unit is suitable for exchange students.

Students workload

5 ECTS = 135 hours of student work (1 ECTS = 27 hours)

Further information for students

This course is also recommended for students in the Finnish programmes.

Grading scale

H-5

Evaluation criteria, fail (0)

REQUIREMENT LEVEL II

Evaluation criteria, satisfactory (1-2)

The student is able to

PROFESSIONAL KNOWLEDGE BASIS, INFORMATION SEARCHING AND REPORTING
– use professional concepts in a consistent manner and demonstrate his/her familiarity with the knowledge basis
– report and communicate in a professional manner

PROFESSIONAL PRACTICE AND WORKPLACE DEVELOPMENT
– act independently taking into account the operating environment
– take responsibility for interaction with customers and/or co-operation partners and for responding to their needs

TEAMWORK SKILLS, LEADERSHIP AND RESPONSIBILITY
– describe the significance of his/her actions for successful co-operation
– describe his/her competence in relation to the learning outcomes

Evaluation criteria, good (3-4)

The student is able to

PROFESSIONAL KNOWLEDGE BASIS, INFORMATION SEARCHING AND REPORTING
– critically evaluate information and justify their actions with science-based knowledge

PROFESSIONAL PRACTICE AND WORKPLACE DEVELOPMENT
– propose creative solutions at work
– promote professional co-operation and enhance customer and partner relationships

TEAMWORK SKILLS, LEADERSHIP AND RESPONSIBILITY
- act in a manner that promotes the team’s entrepreneurial and responsible approach to work
- describe the development of his/her competence in relation to the learning outcomes

Evaluation criteria, excellent (5)

The student is able to

PROFESSIONAL KNOWLEDGE BASIS, INFORMATION SEARCHING AND REPORTING
– analyse the acquired information, draw conclusions and combine theoretical knowledge with experiential knowledge

PROFESSIONAL PRACTICE AND WORKPLACE DEVELOPMENT
– evaluate the applicability of produced knowledge, skill or idea to other contexts as well as their impact
– anticipate needs of customers and/or co-operation partners

TEAMWORK SKILLS, LEADERSHIP AND RESPONSIBILITY
– evaluate and develop the team’s entrepreneurial and responsible approach to work
– evaluate the possibilities for utilising competence and plan his/her personal development and development of the team