Basics of Business EconomicsLaajuus (5 cr)

Objective

Student understands:
- The financial processes of a company and how they work
- The role of financial management in the company's operations,
- The role of the company and its functions and the role of the company's business processes.

Students will be able to:
- Accounting basics, standard accounting entries, monthly VAT calculation and prepare a profit and loss account and balance sheet for a small business,
- The basics of taxation and the calculation of taxable income,
- How to analyse the financial situation of a business using the most common ratios.

Content

Basics of external accounting:
- The role of financial management in business and basic financial concepts
- basic logic of double-entry bookkeeping,
- VAT basics
- depreciation and inventory change
- the profit and loss account and balance sheet and the financial statements as a whole
- tax procedure and calculation of taxable income for the different types of companies