Open University of Applied Sciences
Advanced Accounting and Finance
The course completes the students’ accounting and finance module studies and consists of two parts.
Firstly, the students study and learn about the working capital management concept and theory. Studying this part is linked to understanding of typical corporate life from start-up to growth company – and further on to the mature business phase.
Secondly, a selection of advanced industry-specific and other themes and topics are assigned to the students, enabling them to link their accounting and finance studies to their own favorite industries or some most motivating current themes and topics of today’s business life.
After completing the course, students will be able to:
Apply their finance and managerial accounting skills to industry-specific business cases.
See and analyze the big picture of working capital case-specifically, react immediately when necessary - and initiate business development actions based on the analysis.
Control the working capital professionally, using performance measures such as current ratio, turnover of inventory, turnovers of accounts receivable and payable, as well as gearing %.
Calculate the profitability of working capital investment using the net present value (NPV) method.
Identify the need for using advanced methods such as just-in-time (JIT) management, lean accounting and environmental accounting when necessary.
Create basic-level cash plans and cash flow forecasts.
What is the working capital concept, and what is the strategic importance of it?
What is the working capital cycle, and how can working capital be managed successfully?
How can cash and inventory processes and balances be improved?
How can the management of trade receivables and payables as well as cash flows be enhanced?
What is gearing %, and how can it be used in practice?
Which industries, current trends and phenomena are potential ones for advanced accounting and finance efforts and applications?
When is it time for environmental or lean accounting, or e.g. for applying the just-in-time (JIT) method?
The payment term is 21 days net from the invoice date.
Registration becomes binding 7 days before the course begins. The study place has to be cancelled by contacting the Open UAS Office by email (avoinamk (at) tuni.fi). If cancelled later, the whole fee is charged. Please remember to cancel your registration in time if you cannot start the studies. It is never enough simply to inform a teacher that you wish to cancel your registration.
Please register for the course you wish to take using the registration form. Submit the form two weeks before the beginning of the course at the latest. After that, you can contact the Open UAS Office (avoinamk (at) tuni.fi) to ask if there are any free places available.
Registration becomes binding 7 days before the beginning of the course. We will send an invitation to the email address you have given. The invitation will include detailed instructions about starting the studies.
TAMK’s degree students register through the student administration system, Pakki. They will be admitted if there are free places on the course. The studies are free of charge for degree students.