Master
2023/2024
Financial Management
Type:
Compulsory course (Data Analytics for Business and Economics)
Area of studies:
Economics
Delivered by:
Department of Finance
When:
1 year, 3 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Instructors:
Elizaveta Markovskaya
Master’s programme:
Data Analytics for Business and Economics
Language:
English
ECTS credits:
3
Contact hours:
32
Course Syllabus
Abstract
This course will provide participants with an understanding of the techniques used in financial and performance management framework. We begin by reviewing the basics of financial and performance management. Then, we look at performance management information system and its connection with the performance analysis and units’ economics. Then we will discuss basics of the business processes analysis , balanced scorecard and principles of its development. Then we will move to the budgeting. Next, we deepen our examination of quantitative analysis in budgeting and move to the variances analysis. Finally, we will analyses basic principles of cost-management.
Learning Objectives
- a. ability to understand the methods and techniques used in financial and performance management ; b. ability to analyses business processes ; c. ability to develop balanced scorecard model; c. ability to use the performance measurement tools, analysis and construction of measurement systems for a variety of purposes.
Expected Learning Outcomes
- Ability to prepare analytical report about the enterprise performance
- Ability to set up tasks and find the correct and useful analytical tool for project analysis
- Ability to prepare analytical report about the enterprise performance
- Ability to interpret the financial and managerial information about the enterprise performance
- Ability to develop balanced scorecard models
- Ability to use the performance measurement tools, analysis and construction of measurement systems for a variety of purposes
- set up tasks and find the correct and useful analytical tool for project analysis
Course Contents
- Basic of Financial and Performance Management.
- Analytics in performance management.
- Fundamentals of the business process analysis.
- Balanced Scorecard in Performance Management
- Financial structure of organisation. Budgetary systems. Types of budgets. Budgeting and Balanced Scorecard Quantitative analysis in budgeting.
- Cost management techniques and decision making.
Bibliography
Recommended Core Bibliography
- Analysis for financial management, Higgins, R. C., 2016
- BPP Learning Media (Firm). (2016). ACCA : Study Text: Paper P5: Advanced Performance Management: for Exams in September 2016, December 2016, March 2017 and June 2017 (Vol. Ninth edition). London: BPP Learning Media. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1241086
- Business Process Modeling, Simulation and Design (Textbooks in Mathematics), Laguna, M., 2019
- Cokins, G. (2009). Performance Management : Integrating Strategy Execution, Methodologies, Risk, and Analytics. Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=317048
- Hosseininasab, S.-M., Shetab-Boushehri, S.-N., Hejazi, S. R., & Karimi, H. (2018). A multi-objective integrated model for selecting, scheduling, and budgeting road construction projects. European Journal of Operational Research, (1), 262. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.ejores.v271y2018i1p262.277
- Managing business process flows, , 2012
- Nugus, S. (2009). Financial Planning Using Excel : Forecasting, Planning and Budgeting Techniques (Vol. 2nd ed). Amsterdam: CIMA Publishing. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=249350
- Olaf Schmitz Sven, Agnieszka Michniuk, & Thomas Heupel. (2019). Beyond Budgeting – A Fair Alternative for Management Control? - Examining the Relationships between Beyond Budgeting and Organizational Justice Perceptions. Studies in Business and Economics, (2), 160. https://doi.org/10.2478/sbe-2019-0032
- Principles of corporate finance, Brealey, R.A., 2016
- Principles of corporate finance, Brealey, R.A., 2020
Recommended Additional Bibliography
- Aguinis, H. (2014). Performance Management: Pearson New International Edition (Vol. 3rd ed). [N.p.]: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1418135
- Anthony L. Barth, & Wiaan de Beer. (2018). Performance Management Success. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.mgmtpr.978.3.319.64936.8
- Armstrong, M. (2017). Armstrong’s Handbook of Performance Management : An Evidence-Based Guide to Delivering High Performance (Vol. Sixth edition). London: Kogan Page. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1640145
- Barth, A. L., & De Beer, W. (2018). Performance Management Success : A Best Practices and Implementation Guide for Leaders and Managers of All Organizations. Cham, Switzerland: Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1622523
- Bragg, S. M. (2001). Cost Accounting : A Comprehensive Guide. New York: John Wiley & Sons, Inc. [US]. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=57068
- Kaplan, R. S., & Norton, D. P. (1996). Using the Balanced Scorecard as a Strategic Management System. Harvard Business Review, 74(1), 75–85. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=9601185348
- Kaplan, R. S., & Norton, D. R. (2005). The Balanced Scorecard: Measures That Drive Performance. (cover story). Harvard Business Review, 83(7/8), 172–180.
- Management and cost accounting, Drury, C., 2015
- Nicola Terracciano. (2017). Performance Management at the Organizational Level. Annals of Spiru Haret University Economic Series, 2, 19.
- Performance management : official text for the professional qualification, , 2008
- Strategy maps : converting intangible assets into tangible outcomes, Kaplan R.S., Norton D.P., 2004
- The Balanced scorecard : Translating strategy into action, Kaplan R.S., Norton D.P., 1996