Budgeting - How do I Manage it? (2 cr)
Code: LL10095-3003
General information
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_25Other Complimentary Studies Group Semester 2024-2025
-
KAKS24Karelia, 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.