Financial Toolkit for Entrepreneurs and SME´s, 5 cr - ENT4HM104
Course unit language
Monica Åberg Mariitta Rauhala Suvi Starck
No upcoming implementations yet.
Based on personal competence needs the student can choose suitable content from a platform of alternative content. The student selects at least three alternatives. Some of these include contact lessons and some are virtual. The first contact lesson (where the student makes his/her course plan) is compulsory for everybody. Alternative offerings:
1) Interpretation and analysis of financial statements:
• Profit and loss statement
• Balance sheet
• Financial ratios (profitability, liquidity and solidity)
• Different factors affecting the financial statements
2) Investment and financing: the student understands is able to apply different investment calculations and is aware of different financing instruments on the global market
• Essential investment calculations
• Cash invested in business operations
• Different financing options and capital structure analysis
• Cash flow budgeting
• Acquisition in the small business environment
3) Business plan calculations: the student is capable of preparing calculations for the establishment of a company
• Cash flow calculations
• Profitability calculations
• Sales budgets/estimates
• Presenting and promoting calculations
4) Strategic management accounting: the student is capable of searching for and utilising diverse knowledge in strategy work as well as planning and appropriately measuring
• Management accounting that supports the strategic process
• Methods of strategic accounting and reporting in decision making
• Long term planning (model)
• Balanced Score Card based on business operations
5) Operational planning for managers: the student can identify and utilise planning tools in managerial work in an appropriate way
• Budgeting as a financial management tool – different budgeting methods
• Budgeting or not?
• Assessment, planning and follow-up of the business environment
• Operational monitoring indicators
• Developing own work and working tools
6) Pricing and revenue management: can utilise revenue management elements:
• Pricing and pricing strategies
• Pricing and capacity management
• Maximising returns in different customer segments and distribution channels
• Revenue management in their own work
• Product, service and customer profitability
Depending on the chosen content, the student will participate in related tutorials, self-learning, small group work, and online studies. The course also includes compulsory self-assessment.
Recognition of prior learning (RPL)
If students have acquired the required competence in previous work tasks, recreational activities or on another course, they can show their competence via a demonstration and thus progress faster through their studies. More information and instructions for recognising and validating prior learning (RPL) are available at MyNet.
Materials will be published in the implementation plan.
This course replaces the following course in the previous curriculum:
- Talouden hallinta ja ohjaus
Starting level and linkage with other courses
Assessment criteria - grade 1
The student is able to count, use and analyse numerical financial and business information relevant to their own work duties. He/she is capable of communicating financial information based on the needs of their own target group. He/she is able to solve issues relating to their own work duties utilising financial information and is capable of arguing his/her point.
Assessment criteria - grade 3
The student is able to apply financial thinking from various angles and analytically calculate for planning and steering purposes. He/she is able to draw conclusions regarding the financial situation of an organisation understanding key drivers as well as considering different viewpoints in the development of operations. He/she is able to put into practice financial knowledge in their own organisation.
Assessment criteria - grade 5
The student is able to apply financial thinking from different viewpoints in a critical and profound way and analytically calculate the steering of operations. He/she can draw conclusions regarding the financial situation of the organisation, including key drivers as well as constructively consider different viewpoints in the development of operations. He/she is able to critically and extensively put into practice financial knowledge when leading their own organisation