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Budgeting - How do I Manage it?Laajuus (2 cr)

Code: LL10095

Credits

2 op

Teaching language

  • Finnish

Responsible person

  • Jani Kettunen

Objective

- Understand the role and importance of budgeting in business management
- Understand what budgeting is and what it involves
- You know the prerequisites for successful budgeting
- You can set business objectives and key performance indicators
- You can draw up simple sub-budgets and main budgets

Content

Business planning is key to a company's success. For even a small business, budgeting is an easy way to plan operations and to translate future goals into measurable action. However, it is not just a matter of putting numbers on an excel sheet, but a holistic process that involves not only planning and implementation, but also active monitoring and reacting to deviations.

This course will give you an idea of what budgeting is, what the steps are and what needs to be taken into account in the process. You will be able to apply the theory in practice and prepare a simple profit and loss, financial and balance sheet budget for a company, in addition to a partial budget.

The course consists of independent study of the materials and testing of your own knowledge through various tests and exercises. Finally, an assessed learning assignment will be completed and returned.

Enrollment

01.10.2024 - 09.02.2025

Timing

14.02.2025 - 16.05.2025

Number of ECTS credits allocated

2 op

Virtual portion

2 op

Mode of delivery

Distance learning

Unit

Open UAS

Campus

Wärtsilä Campus Karjalankatu 3

Teaching languages
  • Finnish
Seats

5 - 70

Degree programmes
  • Degree Programme in Business Economics
Teachers
  • Jani Kettunen
Teacher in charge

Jani Kettunen

Scheduling groups
  • Avoin AMK ja RIPA (Size: 20. Open UAS: 20.)
  • Tutkinto-opiskelijat (Size: 0. Open UAS: 0.)
Groups
  • TOP24_25
    Other Complimentary Studies Group Semester 2024-2025
  • KAKK25
    Karelia, Open UAS, All, Spring, 2025
Small groups
  • Open UAS students and RIPA
  • Degree students

Objective

- Understand the role and importance of budgeting in business management
- Understand what budgeting is and what it involves
- You know the prerequisites for successful budgeting
- You can set business objectives and key performance indicators
- You can draw up simple sub-budgets and main budgets

Content

Business planning is key to a company's success. For even a small business, budgeting is an easy way to plan operations and to translate future goals into measurable action. However, it is not just a matter of putting numbers on an excel sheet, but a holistic process that involves not only planning and implementation, but also active monitoring and reacting to deviations.

This course will give you an idea of what budgeting is, what the steps are and what needs to be taken into account in the process. You will be able to apply the theory in practice and prepare a simple profit and loss, financial and balance sheet budget for a company, in addition to a partial budget.

The course consists of independent study of the materials and testing of your own knowledge through various tests and exercises. Finally, an assessed learning assignment will be completed and returned.

Location and time

The course is carried out independently in Moodle within the respective timetable.

Materials

All material available on Moodle. In addition, the following books can be used as supporting literature:

Neilimo K. & Uusi-Rauva E.: Johdon laskentatoimi. Edita Publishing
tai
Jormakka R., Koivusalo K., Lappalainen J., & Niskanen M.: Laskentatoimi. Edita Publishing

Teaching methods

The aim of the course is for the student to understand the importance of budgeting in managing the activities of an organisation as part of financial planning and the production of information in the form of reports and key figures.
Students will be able to process financial information of an organisation for different purposes.

Course content:
Budgeting as part of financial planning:
- Operational planning and finance
- Budget systems: sub-budgets and main budgets
- types of budget (fixed, revised, rolling, sliding)
- challenges and pitfalls of budgeting

The coursework consists of lecture notes, exercises, competency-based components and an assessed learning task. The course is in Finnish.

Student workload

This course is 2 credits = 54 hours of student work. The course is self-paced and independent.

Further information

All instructions for completing the course can be found on Moodle. If you have any problems, please contact the teacher responsible for the course.

Evaluation scale

H-5

Assessment methods and criteria

The course is assessed on the basis of a returnable learning task. In addition, all assignments must be returned to Moodle and the competency tests must be completed in order to pass the course.

The grading scale and further information on assessment can be found in the course Moodle.

Assessment criteria, fail (0)

A learning task score below the pass mark or some of the exercises and knowledge tests are not returned within the course time limit.

Assessment criteria, satisfactory (1-2)

The marks for a learning task worth a grade of 1 or 2 and all exercises and knowledge tests have been duly returned within the course time limit. For a more detailed breakdown of course assessment, please check Moodle.

Assessment criteria, good (3-4)

The marks for a learning task worth a grade of 3 or 4 and all exercises and knowledge tests have been duly returned within the course time limit. For a more detailed breakdown of course assessment, please check Moodle.

Assessment criteria, excellent (5)

The marks for a learning task worth a grade of 5 and all exercises and knowledge tests have been duly returned within the course time limit. For a more detailed breakdown of course assessment, please check Moodle.

Enrollment

12.08.2024 - 22.09.2024

Timing

30.09.2024 - 15.12.2024

Number of ECTS credits allocated

2 op

Virtual portion

2 op

Mode of delivery

Distance learning

Unit

Open UAS

Campus

Wärtsilä Campus Karjalankatu 3

Teaching languages
  • Finnish
Seats

10 - 50

Degree programmes
  • Degree Programme in Business Economics
Teachers
  • Jani Kettunen
Teacher in charge

Jani Kettunen

Scheduling groups
  • Avoin amk ja RIPA (Size: 20. Open UAS: 20.)
  • Tutkinto-opiskelijat (Size: 20. Open UAS: 0.)
Groups
  • TOP24_25
    Other Complimentary Studies Group Semester 2024-2025
  • KAKS24
    Karelia, Open UAS, All, Fall, 2024
Small groups
  • Open UAS and RIPA
  • Degree Students

Objective

- Understand the role and importance of budgeting in business management
- Understand what budgeting is and what it involves
- You know the prerequisites for successful budgeting
- You can set business objectives and key performance indicators
- You can draw up simple sub-budgets and main budgets

Content

Business planning is key to a company's success. For even a small business, budgeting is an easy way to plan operations and to translate future goals into measurable action. However, it is not just a matter of putting numbers on an excel sheet, but a holistic process that involves not only planning and implementation, but also active monitoring and reacting to deviations.

This course will give you an idea of what budgeting is, what the steps are and what needs to be taken into account in the process. You will be able to apply the theory in practice and prepare a simple profit and loss, financial and balance sheet budget for a company, in addition to a partial budget.

The course consists of independent study of the materials and testing of your own knowledge through various tests and exercises. Finally, an assessed learning assignment will be completed and returned.

Location and time

The course is carried out independently in Moodle within the respective timetable.

Materials

All material available on Moodle. In addition, the following books can be used as supporting literature:

Neilimo K. & Uusi-Rauva E.: Johdon laskentatoimi. Edita Publishing
tai
Jormakka R., Koivusalo K., Lappalainen J., & Niskanen M.: Laskentatoimi. Edita Publishing

Teaching methods

The aim of the course is for the student to understand the importance of budgeting in managing the activities of an organisation as part of financial planning and the production of information in the form of reports and key figures.
Students will be able to process financial information of an organisation for different purposes.

Course content:
Budgeting as part of financial planning:
- Operational planning and finance
- Budget systems: sub-budgets and main budgets
- types of budget (fixed, revised, rolling, sliding)
- challenges and pitfalls of budgeting

The coursework consists of lecture notes, exercises, competency-based components and an assessed learning task.

Student workload

This course is 2 credits = 54 hours of student work. The course is self-paced and independent

Further information

All instructions for completing the course can be found on Moodle. If you have any problems, please contact the teacher responsible for the course.

Evaluation scale

H-5

Assessment methods and criteria

The course is assessed on the basis of a returnable learning task. In addition, all assignments must be returned to Moodle and the competency tests must be completed in order to pass the course. The assessed learning task consists of two sections and both sections must be passed. The final grade is the weighted average of the sections. A more detailed grading scale is available on the course Moodle.

Enrollment

01.10.2023 - 04.02.2024

Timing

19.02.2024 - 17.05.2024

Number of ECTS credits allocated

2 op

Virtual portion

2 op

Mode of delivery

Distance learning

Unit

Open UAS

Campus

Wärtsilä Campus Karjalankatu 3

Teaching languages
  • Finnish
Seats

10 - 30

Degree programmes
  • Degree Programme in Business Economics
Teachers
  • Jani Kettunen
Teacher in charge

Jani Kettunen

Scheduling groups
  • Pienryhmä (schedulingGroup) 1 (Size: 20. Open UAS: 20.)
  • Pienryhmä (schedulingGroup) 2 (Size: 0. Open UAS: 0.)
Groups
  • KAKK24
    Karelia, Open UAS, All, Spring, 2024
Small groups
  • Pienryhmä (schedulingGroup) 1
  • Pienryhmä (schedulingGroup) 2

Objective

- Understand the role and importance of budgeting in business management
- Understand what budgeting is and what it involves
- You know the prerequisites for successful budgeting
- You can set business objectives and key performance indicators
- You can draw up simple sub-budgets and main budgets

Content

Business planning is key to a company's success. For even a small business, budgeting is an easy way to plan operations and to translate future goals into measurable action. However, it is not just a matter of putting numbers on an excel sheet, but a holistic process that involves not only planning and implementation, but also active monitoring and reacting to deviations.

This course will give you an idea of what budgeting is, what the steps are and what needs to be taken into account in the process. You will be able to apply the theory in practice and prepare a simple profit and loss, financial and balance sheet budget for a company, in addition to a partial budget.

The course consists of independent study of the materials and testing of your own knowledge through various tests and exercises. Finally, an assessed learning assignment will be completed and returned.

Location and time

The course is carried out independently in Moodle within the respective timetable.

Materials

All material available on Moodle. In addition, the following books can be used as supporting literature:

Neilimo K. & Uusi-Rauva E.: Johdon laskentatoimi. Edita Publishing
tai
Jormakka R., Koivusalo K., Lappalainen J., & Niskanen M.: Laskentatoimi. Edita Publishing

Teaching methods

The aim of the course is for the student to understand the importance of budgeting in managing the activities of an organisation as part of financial planning and the production of information in the form of reports and key figures.
Students will be able to process financial information of an organisation for different purposes.

Course content:
Budgeting as part of financial planning:
- Operational planning and finance
- Budget systems: sub-budgets and main budgets
- types of budget (fixed, revised, rolling, sliding)
- challenges and pitfalls of budgeting

The coursework consists of lecture notes, exercises, competency-based components and an assessed learning task. The course is in Finnish.

Student workload

This course is 2 credits = 54 hours of student work. The course is self-paced and independent.

Further information

All instructions for completing the course can be found on Moodle. If you have any problems, please contact the teacher responsible for the course.

Evaluation scale

H-5

Assessment methods and criteria

The course is assessed on the basis of a returnable learning task. In addition, all assignments must be returned to Moodle and the competency tests must be completed in order to pass the course.

Assessment criteria, fail (0)

A learning task score below the pass mark or some of the exercises and knowledge tests are not returned within the course time limit.

Assessment criteria, satisfactory (1-2)

The marks for a learning task worth a grade of 1 or 2 and all exercises and knowledge tests have been duly returned within the course time limit. For a more detailed breakdown of course assessment, please check Moodle.

Assessment criteria, good (3-4)

The marks for a learning task worth a grade of 3 or 4 and all exercises and knowledge tests have been duly returned within the course time limit. For a more detailed breakdown of course assessment, please check Moodle.

Assessment criteria, excellent (5)

The marks for a learning task worth a grade of 5 and all exercises and knowledge tests have been duly returned within the course time limit. For a more detailed breakdown of course assessment, please check Moodle.

Enrollment

02.09.2023 - 26.11.2023

Timing

05.10.2023 - 05.01.2024

Number of ECTS credits allocated

2 op

Virtual portion

2 op

Mode of delivery

Distance learning

Unit

Open UAS

Campus

Wärtsilä Campus Karjalankatu 3

Teaching languages
  • Finnish
Seats

10 - 30

Degree programmes
  • Open University of Applied Sciences Studies
  • Degree Programme in Business Economics
Teachers
  • Jani Kettunen
Teacher in charge

Jani Kettunen

Scheduling groups
  • Avoimen opiskelijat (Size: 15. Open UAS: 15.)
Groups
  • KAKS23
    Karelia, Open UAS, All, Fall, 2023
Small groups
  • Open UAS students

Objective

- Understand the role and importance of budgeting in business management
- Understand what budgeting is and what it involves
- You know the prerequisites for successful budgeting
- You can set business objectives and key performance indicators
- You can draw up simple sub-budgets and main budgets

Content

Business planning is key to a company's success. For even a small business, budgeting is an easy way to plan operations and to translate future goals into measurable action. However, it is not just a matter of putting numbers on an excel sheet, but a holistic process that involves not only planning and implementation, but also active monitoring and reacting to deviations.

This course will give you an idea of what budgeting is, what the steps are and what needs to be taken into account in the process. You will be able to apply the theory in practice and prepare a simple profit and loss, financial and balance sheet budget for a company, in addition to a partial budget.

The course consists of independent study of the materials and testing of your own knowledge through various tests and exercises. Finally, an assessed learning assignment will be completed and returned.

Location and time

The course is carried out independently in Moodle within the respective timetable.

Materials

All material available on Moodle. In addition, the following books can be used as supporting literature:

Neilimo K. & Uusi-Rauva E.: Johdon laskentatoimi. Edita Publishing
tai
Jormakka R., Koivusalo K., Lappalainen J., & Niskanen M.: Laskentatoimi. Edita Publishing

Teaching methods

The aim of the course is for the student to understand the importance of budgeting in managing the activities of an organisation as part of financial planning and the production of information in the form of reports and key figures.
Students will be able to process financial information of an organisation for different purposes.

Course content:
Budgeting as part of financial planning:
- Operational planning and finance
- Budget systems: sub-budgets and main budgets
- types of budget (fixed, revised, rolling, sliding)
- challenges and pitfalls of budgeting

The coursework consists of lecture notes, exercises, competency-based components and an assessed learning task.

Student workload

This course is 2 credits = 54 hours of student work. The course is self-paced and independent.

Further information

All instructions for completing the course can be found on Moodle. If you have any problems, please contact the teacher responsible for the course.

Evaluation scale

H-5

Assessment methods and criteria

The course is assessed on the basis of a returnable learning task. In addition, all assignments must be returned to Moodle and the competency tests must be completed in order to pass the course.

Assessment criteria, fail (0)

A learning task score of less than 51 points or some of the exercises and knowledge tests are not returned within the course time limit.

Assessment criteria, satisfactory (1-2)

A learning task score of 51-60 (1) / 61-70 (2) and all exercises and competency tests are duly returned within the course time limit.

Assessment criteria, good (3-4)

A learning task score of 71-80 (3) / 81-90 (4) and all exercises and competency tests are duly returned within the course time limit.

Assessment criteria, excellent (5)

A learning task score of 91-100 and all exercises and competency tests have been duly returned within the course time limit.