Study Guide

Objective

Having completed this study unit

- You recognize the meaning of financial management to an organisation and its operations.

- You are able to identify potential financial risk factors and changes in the economic environment and foresee their effects on the organisation.

- You know the basics of profitable business and financial thinking.

- You are able to identify the key financial ratios and measures and you are able to analyse their effect to the organisation.

Competences: Proactive development Competence, Business and Financial Management Competence

Content

Theme 1. Organisation’s finances: overview, observation of changes in operating environment, impact of the economy on operations, financial risks and financial management

Theme. 2. Getting to know the financial statement: income statement and balance sheet for limited liabilities company and association, basics of profitable business.

Theme 3. Financial analysis: different analysing methods, financial ratios, measures, and decision making.

Location and time

Autumn 2024 from week 37 - 50.

Materials

• Gowthorpe, C. 2018. Business accounting and finance. Fifth edition. Andover, Hampshire: Cengage Learning.


• Moodle –materials and other materials given by the teachers

Teaching methods

Contact teaching on campus.
No online possibilities.

Exam schedules

4.12.2024 at 12.30 -15.00

International connections

Possible real-life business project.

Completion alternatives

There are no.

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

Level 1
Meaning of financial management and financial thinking:
You recognize the meaning of financial management to an organisation and its operations.   
You are able to identify potential financial risk factors and foresee their impact on the organisation’s operations, taking into account changes in the operating environment.  
You know the basics of profitable business and financial thinking.  
You are able to identify the key financial ratios and performance measures and you are able to analyze their effect on the organisation.  

Level 2
Meaning of financial management and financial thinking:
You know the importance of financial management to an organisation and its operations.    
You are able to describe potential financial risk factors and foresee their impact on the organisation’s operations, taking into account changes in the operating environment. 
You know and are able to describe the basics of profitable business and financial thinking.  
You know the key financial ratios and performance measures that describe the financial situation of the organisation.

Assessment criteria, good (3)

Level 3
Meaning of financial management and financial thinking:
You understand the importance of financial management to an organisation and its operations.   
You are able to describe by using examples potential financial risk factors and foresee their impact on the organisation’s operations, taking into account changes in the operating environment. 
You understand the basics of profitable business and financial thinking. 
You understand the key financial ratios and performance measures that describe the financial situation of the organisation.  

Level 4
Meaning of financial management and financial thinking:
You have a command of the importance financial management to an organisation and its operations.   
You are able to assess potential financial risk factors and foresee their impact on the organisation’s operations, taking into account changes in the operating environment. 
You understand the role of key figures and performance measures in monitoring an organisation’s finances and know how to use them to make financial management decisions.

Assessment criteria, excellent (5)

Level 5
Meaning of financial management and financial thinking:
You are able to evaluate and analyze the organisation’s operations from the perspective of financial management.  
You are able to critically assess potential financial risk factors and foresee their impact on the organisation’s operations, taking into account changes in the operating environment. 
You are able to utilize the key financial ratios and performance measures in planning your operations and analyze their results.  

Assessment methods and criteria

Evaluation is based on students' performance.


1. Individual exam 70 %
2. Group work Business project + reflection ( self and peer) 30%

Everything must be completed to pass the study unit.


Notice! Using AI -tools (for example ChatGPT) is forbidden in this study unit since it hinders the learning of the students and achieving the learning goals. Turnitin is able to recognize the use of AI.



Please notice that in study unit assignment returns the plagiarism detection programs (for example Turnitin) will be used. Also notice that you need to use Lapland UAS templates (essay, thesis, report etc) and writing instructions. Textual references must be done according to the given instructions. Please download the thesis template and the referencing instructions here: https://www.lapinamk.fi/en/Students/Study-Guide,-Degree-Programme-Students/Thesis Submitting assignments against given instructions may lead to failing and other possible consequences according to the Degree Regulations.

Assessment criteria, fail (0)

The student does not complete the assignments/ requirements according to instructions or does not attend the learning situations at all. He/she does not pass the assignments and/or the exam as required.