Cost Accounting and Financial Management (5 cr)

Objective

Upon completing this course, student will be familiar basic concepts of cost accounting. Student can apply cost and price calculations into practice and understand activity based costing and profit center costing principles.

Content

- Concept of Cost Accounting
- Product Costing
- Activity Based Costing
- Product Price Calculations
- Profit Center Accounting

Location and time

Spring 2025

Materials

Järvenpää-Länsiluoto-Partanen-Pellinen: Talousohjaus ja kustannuslaskenta
Material at Oma

Supplementary reading:
Pellinen: Kustannuslaskenta ja kannattavuusajattelu. Alma Talent Oy. 3. uudistettu painos. (Löytyy Alma Talentin verkkokirjahyllystä).
Atrill, McLaney: Management accounting for decision makers. Tenth edition.

Teaching methods

Activating lectures
Guided exercises
Learning tasks
Exam

Exam schedules

Exam in April
There will be two re-exams:
First re-exam in May
Second re-exam in June

Completion alternatives

Contact the teacher.

Student workload

Contact lessons approximately 40 hours
Exercises and independent studying 95 hours
Total 135 hours

Further information

The course is implemented as contact teaching and there are an exam and exercises which have an effect on the course grade. Attendance has an effect on the course grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment criteria, good (3)

The student has achieved the course objectives well, even though the knowledge and skills need improvement on some areas. The student is able to define the course concepts and models and are able to justify the analysis. The student is able to apply his/her knowledge in leisure, study and work situations. The student understands the importance of expertise in the field of business and is able to analyze his/her own expertise.

Assessment criteria, excellent (5)

The student has achieved the objectives of the course with excellent marks. The student masters commendably the course subject area’s concepts and models. The student is able to make justified and fluent analysis and to present concrete development measures. The student is well prepared to apply his/her knowledge in leisure, study and work situations. The student is able to analyze the business sector expertise and the development of his/her own expertise.

Assessment criteria, approved/failed

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment methods and criteria

Exam 60%
Course assignment 20%
Learning tasks 10%
Classroom tasks to be submitted 5 %
Attendance 5%
Total 100%

Tasks and assignments are returned to Moodle. The students will need textbook to complete learning tasks.
There will be a deduction of points in assignments turned in late. One can no longer earn points for the task after the answer has been discussed in class or the answer is given to the students.

Grading the course

5 total of weighted points 90-100%
4 total of weighted points 80-89%
3 total of weighted points 70-79%
2 total of weighted points 60-69%
1 total of weighted points 50-49%

The student's other completed tasks, activity during the course and/or given course feedback can be taken into account as a factor that increases the grade.

Qualifications

Basics of accounting or equivalent competences