Financial Controlling 2600-MSMz2abCF
Upon completion of the course, the student:
The introduction will discuss the essence and development of controlling in an organization (different approaches to the definition of controlling, the main goals of using controlling, the main tasks and functions of controlling in an enterprise, controlling and financial and management accounting, stages of controlling development, development of controlling in Poland). Another issue of the course will be the classification of controlling systems (strategic and operational controlling, - controlling from a functional perspective, types and tasks of financial controlling). The conditions for using controlling in an enterprise will be discussed (modification of the management structure, creation of centers of responsibility for costs, revenues, profits and investments, requirements for controlling reports, rules for creating control and decision-making information). The organizational aspects of controlling will be complemented by organizational aspects of the functioning of controlling in the enterprise (tasks of the controller, the controller's place in the organizational structure of the entity, stages of implementation of controlling in the enterprise, stages of controlling work in the enterprise).
The main part of the subject will be a discussion of the main tools of financial controlling (budgeting - goals and types, methods of cost variance analysis, control and result accounts of coverage margins, methods of factor analysis of coverage margins, break-even point and financial safety margin, economic indicators, the role of balanced scorecard in measurement strategic achievements).
An important issue of the subject is the discussion of investment project evaluation methods (simple and discount methods in project evaluation, project cash flows, discounting, NPV project present value, IRR internal rate of return). The last important issue will be budgeting in responsibility centers (operational budgets, financial budgets, principles of cost budgeting, creating the main budget).
Course coordinators
Type of course
Mode
Learning outcomes
Upon completion of the course, the student:
Knowledge:
K_W01 – The student knows and understands, at an advanced level, the research methodology and terminology in the field of management and quality sciences, as well as economics and finance.
K_W02 – The student knows and understands complex processes and phenomena occurring in various types of organizations and their environment, and applies management, economics, and finance theories to identify, diagnose, and solve problems related to key organizational functions and their integration within financial controlling.
K_W03 – The student knows and understands, at an advanced level, economic theories and models related to the functioning of organizations and the economy, including financial controlling.
Skills:
K_U01 – The student is able to apply the theory of management and quality sciences, as well as economics and finance, to identify, diagnose, and solve complex problems and integrate them within financial controlling, using appropriate instruments and methods.
K_U02 – The student is able to correctly interpret complex technological, social, and economic processes and phenomena and their impact on organizations and the economy, using financial controlling instruments.
K_U03 – The student is able to independently and collaboratively prepare analyses, diagnoses, and reports, and communicate them effectively (also in English), using advanced information and communication technologies.
K_U05 – The student is able to plan and organize individual and team work in the field of financial controlling.
K_U07 – The student is able to independently apply financial controlling tools and methods, make decisions, and adapt solutions to changing organizational and economic conditions.
Social Competences:
K_K01 – The student is ready to evaluate and critically approach complex situations and phenomena related to the functioning of organizations using financial controlling.
K_K02 – The student recognizes the importance of scientific knowledge in solving problems and is willing to seek expert opinions.
Assessment criteria
Learning outcomes will be verified on an ongoing basis through tasks performed by participants during seminars. Additionally, participants receive bonuses for their activity during classes, which increase their final grade. The grade for passing the seminar is the result of:
20% work in classes;
80% final test.
Pass with grade - multiple choice test combined with practical tasks in the field of consolidation. A satisfactory grade from 51% of the test points.
Bibliography
Basic items:
1. Sierpińska M., Sierpińska A., Węgrzyn R., Controlling finansowy w przedsiębiorstwie, PWN Warszawa 2019.
2. Finansowanie, budżetowanie i ocena efektywności projektów rozwojowych, pod red. Cieślik R., Postuła M., Difin Warszawa 2016.
3. Controlling w działalności przedsiębiorstwa – praca zbiorowa pod redakcją E. Nowaka, PWE, Warszawa 2011.
4. Sierpińska M., Niedbała B., Controlling operacyjny w przedsiębiorstwie. PWN, Warszawa 2002.
5. Dobija M., Rachunkowość zarządcza i controlling. PWN, Warszawa 2002.
6. Rogowski W., Rachunek efektywności inwestycji - Wyzwania teorii i potrzeby praktyki, Wolters Kluwer, Warszawa 2013.
Additional items:
1. Listkiewicz J., Listkiewicz S., Niedziółka D., Szymczak P., Planowanie, Finansowanie, Wycena. Project finance, Corporate Finance, ODDK, Gdańsk 2004.
2. Marcinek K., Foltyn-Zarychta M., Pera K., Saługa P., Tworek P., Ryzyko w finansowej ocenie projektów inwestycyjnych. Wybrane zagadnienia, Wydawnictwo Uniwersytetu Ekonomicznego w Katowicach, Katowice 2010.
3. Vollmuth H. J., Controlling. Instrumenty od A do Z, Placet, Warszawa 1997.
4. Nowosielski S., Zarządzanie produkcją - ujęcie controllingowe. AE we Wrocławiu, Wrocław 2001.