Basics of Financial Management ECO001HH1AE-3009 16.01.2023-19.05.2023 5 (DBAE2PC1, ...)+-
After having completed this course or attained an equivalent competence level, the student:
Can calculate and apply simple and compound interest calculations in various business cases,
Knows how to analyze the income statement, balance sheet, and cost structure, and understands their cause-effect relationships
Knows how to calculate key figures based on the financial information of a company and how to interpret them.
Introduction to "3 P" model: profit, people and planet" with focus on the profit side of this.
Knows the basics of cost-volume-profit analysis
Knows basic pricing models and is able to apply VAT (value-added tax) in pricing.
The course includes various examples and business case of international companies.
Business Mathematics, simple and compound interest calculations
Basics of Financial Accounting: Financial statements, Balance Sheet, and Income statement
Basics of Managerial Accounting: Cost behavior, Cost Volume Profit, Break-even point, and related calculations
Principles of pricing and VAT.
Assessment criteria - grade 1
1. The student is able to calculate basic simple and compound interest exercises. Is able to describe cost and profitability concepts and categories.
Assessment criteria - grade 3
3. The student is able to select and apply the correct interest calculation method. Is able to describe the core principles of management and financial accounting. Is able to describe the effects of business transactions on the company’s income statement, balance sheet and profitability. Is able to independently calculate the key figures of the income statement and balance sheet.
Assessment criteria - grade 5
5. The student Is able to apply simple and compound interest independently in various business cases. Is able to analyze and interpret the income statement and balance sheet as well as key figures based on them. Is able to make decisions based on financial information as well as combine theoretical and practical information. Is able to apply VAT (value-added tax) in simple pricing.