Basics of Financial Management ACC1LF101-3016 26.10.2020-18.12.2020 5 (AVOINAMK)+-
In this course you will learn some basic accounting-finance concepts you will use for your entire professional career.
If you engage, participate actively work & study, you will be able to understand financial statements and use various accounting methods for decision-making purposes.
You will be able to interpret the content of financial statements with the help of main financial ratios.
You will be able to make distinction between different cost types and understand the cost behavior and its implications to profitability calculations.
You will be able to use cost-volume-profit analysis for different purposes like sensitivity analysis and price-setting.
You will be able to use basic cost allocation methods for decision-making purposes.
You will be able to prepare basics income statement and cash budget.
You will be able to use basic tools for efficient working capital management.
- financial statement analysis
- working capital
- variable and fixed costs
- cost-volume-profit analysis
- cost allocation
- budgeted income statement and cash flow
Assessment criteria - grade 1
- Knowledge: You know the key concepts within the course’s scope, but are yet to develop the general view and the big picture of the subject matter.
- Skills: - You can complete given tasks and assignments with assistance. You need to develop how to apply knowledge.
- Competence: You demonstrate some ability to perform skills and have basic knowledge, but you have difficulty to manage without assistance
Assessment criteria - grade 3
- Knowledge: You know the key concepts well and can explain how the theories and models function and the tools are used. You have a general view of the subject matter.
- Skills: You complete given tasks and assignments independently. You apply knowledge in hands-on business related situations. You can critique your own practice and identify ways to improve.
- Competence: You demonstrate sufficient ability to perform skills and have basic to good knowledge. You can perform independently, but you have some challenges in passing on your skills and knowledge to others. You have an interest in professional development.
Assessment criteria - grade 5
- Knowledge: You have a strong command of the key and related concepts. You can critically evaluate theories, models and tools. You can demonstrate explicit knowledge of the subject matter, and how it relates to other disciplines.
- Skills: You apply knowledge in demanding business related situations. You can prioritize and critically select tools and methods for solving complex problems in the subject matter.
- Competence: You execute skills with natural proficiency and you have detailed and explicit knowledge. You can perform independently and you are also able and actively willing to help others develop and pass on your skills. You have an attitude of continuous professional development.