LEARNING OUTCOMES
The objective of this course is to develop cost accounting and financial planning systems design skills. The first part of the course focuses on various cost accounting system design alternatives. We discuss the use, applicability, and implications of various overhead allocation methods in different business set-ups. The second part takes a close look at financial planning and forecasting. We explore the design, use, and implications of financial planning tools in contemporary organizations. The course theory through extensive case studies. The financial planning part of the course benefits from deep collaboration with Olarin Panimo (one of the on-campus breweries). After successfully completing the course, students are able to:
1) Evaluate the opportunities and challenges associated with different cost accounting systems in their business context
2) Evaluate the opportunities and challenges associated with different financial planning methodologies in their business context
3) Design scenario analyses and derive financial plans based on those for businesses in a variety of contexts
4) Integrate entrepreneurial soft-skills like creativity and self-reflection to business problems
Credits: 6
Schedule: 10.01.2022 - 22.02.2022
Teacher in charge (valid for whole curriculum period):
Teacher in charge (applies in this implementation): David Derichs
Contact information for the course (applies in this implementation):
CEFR level (valid for whole curriculum period):
Language of instruction and studies (applies in this implementation):
Teaching language: English. Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Assessment Methods and Criteria
valid for whole curriculum period:
1. Lectures, reflection journals, participation activity and case reports (60% of the marking)
2. Final exam (40% of the marking)
Learning is based on case discussions, readings, short introductory lectures, guest lectures and reflection journals. Lectures will not cover all the content of the course readings, but will provide additional insights and practical applications on topics covered.
Workload
valid for whole curriculum period:
- Lectures 18 h
- Class preparation 24 h
- Exercises/group work 50 h
- Reflection Journals 12 h
- Independent study 55 h
- Exam 3 h
TOTAL=162 h
DETAILS
Study Material
valid for whole curriculum period:
Compulsory literature:
Kaplan, R. & Anderson, S., (2003). Time-driven activity-based costing.
Axson, D., (2009). Best Practices in Planning and Performance Management: Radically Rethinking Management for a Volatile World.
Articles listed under each lecture.
Suggested additional readings:
Barret, R., (2007). Planning and budgeting for the agile enterprise: a driver-based budgeting toolkit. London: CIMA publishing
For those who want to go deeper into cost accounting and activity based management: Kaplan, R. & Cooper, R (1998). Cost & effect: using integrated cost systems to drive profitability and performance. Harvard Business Press. Chapters 1 11
For those who want to go deeper into forecasting: Morlidge, S. & Player, S (2010). Future ready: How to master
Substitutes for Courses
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
FURTHER INFORMATION
Further Information
valid for whole curriculum period:
Teaching Period:
2020-2021 Spring III
2021-2022 Spring III
Course Homepage: https://mycourses.aalto.fi/course/search.php?search=22E26000
Registration for Courses: In the academic year 2021-2022, registration for courses will take place on Sisu (sisu.aalto.fi) instead of WebOodi.
Please see Sisu for the registration dates.
- Teacher: Derichs David