6304 - Financial Management for Managers
Course information
- Title
- Financial Management for Managers
- Course number
- 6304.21
- Academic year
- 2024-2025
- ECTS
- 5.00
- Level
- Master
- Faculties
- History and Social Sciences
- Educations
- Master in Leadership and Management
- Prerequisites
- Bachelor degree
- Language of instruction
- Faroese
- Registration
- Students on the first cycle of Master in Leadership and Management are automatically enrolled. Applicants for an individual course must apply via the Student Service Center at lss@setur.fo
- Beginning date
- Friday, August 23, 2024
- End date
- Saturday, September 21, 2024
Academic content
- Purpose
- For the students to acquire knowledge and understanding of theories, concepts and methods used in financial management. Students are also expected to learn to gather and process financial data and communicate these in management practice.
- Learning outcomes
- Students who successfully complete the course can demonstrate ability to: • Communicate about financial management to relevant target groups in a manner that is substantiated by academic and professional knowledge. • Assess relevant management reporting and choices of financial management tools to reach fixed targets. • Explain how to read and understand financial accounts. • Explain key economic concepts, including how accounts are created, influenced and used. • Prepare relevant key performance indicators for financial analysis. • Identify trends and deviations in accounting material. Explain and assess, which financial management tools and/or measures are suitable for improving processes and the bottom line/budget.
- Content
- Main topics: 1. The framework for financial management and reporting, including a discussion of the challenges they give rise to for managers in their daily practice. 2. Efficiency and productivity – how can we measure, improve and implement. 3. Financial management methods. What is there to choose from? Which are indispensable? 4. How do we use resources right? Insights into how operations necessitate the consumption of resources and how they can be optimised, e.g. by mapping processes. 5. Budgeting and follow-up. How do we ensure staying on budget? 6. Setting targets and making projections using substantiated tools. . 7. Financial reporting with the right key performance indicators and relevant comments. Risk management for operations and projects.
- Learning and teaching approaches
- Short lectures, discussions, exercises, case assignments, take home assignments and independent study.
Assessment
- Assessment method
- Oral examination with preparation time. The oral examination lasts 25 minutes. The preparation time is 30 minutes with access to all materials, except the internet and mobile phones.
- Examination (internal/external)
- External
- Grading scale
- 7-scale
- Exam date/dates
- The oral exam is scheduled for the 29th and 30th of September, 2024
- Deadline for withdrawal from exam
- Friday, August 23, 2024
Academic responsibility and teachers
- Academic responsibility
- Johnny í Grótinum
- Teachers