Planning is one of the main management functions which allows to allocate resources more effectively and to control business processes during professional activity in any company. The goal of the Financial Business Planning course is to provide an introduction to the planning process in modern companies and to equip students with practical skills of using budgeting and control techniques to improve management of the company and achieve its strategic goals. Within the course students develop companies’ budgets using computers, complete tasks and case studies, work on group projects.
Hours of lecture
Hours of discussion
Hours of independent study
Total numbers of hours
Please note that the time spent on independent study exceeds hours of lecture and discussion.
The course will cover the following topics:
Building a Business Model
Planning and budgeting
Aims and objectives of planning
The structure of a business model
Differences between a business model and a business plan
Key types of activity
Business model verification
Preparing a Master Budget and Financial Budgets
The main forms of financial accounting: profit and loss statement, cash flow statement, and budget
Devising a master budget
Planning sales revenues
Calculating cost of goods sold
Material costs, labor costs, selling and administrative costs
Assessing Investment Prospects of Business Projects
Tools of investment assessment: Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period
Internal sources of finance
External sources of finance
Banks’ requirements for start up business loans
Devising a cash flow statement
Peculiarities of Business Planning in Russia. Planning Innovative Business Projects
Influence of Russian macroeconomic environment on planning
Developing a business strategy in Russia
Key elements of a strategy, tools for developing a strategy
Key performance indicators
Business planning for innovative companies (the case of Skolkovo).
Osterwalder, Alexander and Pigneur, Yves (2010). Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Wiley
Shim, Jae K., Siegel, Joel G. (2011). Budgeting Basics and Beyond (4th edition). Wiley.
Begg, David and Ward, Damian (2004). Economics for Business. McGraw-Hill.
Black, Geoff (2005). Introduction to Accounting and Finance. Pearson.
Brealey, Richard, Myers, Stewart (2013). Principles of Corporate Finance (Chapter 29). 11th edition. McGraw-Hill/Irwin.
Bobyleva, Alla (ed.) (2012). Finansovy Management. Problemy i resheniya. Urait.
Brigham, Eugene, Ehrhard, Michael (2013). Financial Management: Theory & Practice (Chapters 10, 12). 14th edition. Cengage Learning.
Kemp, Sid (2003). Budgeting for Managers. McGraw Hill Professional.
Horngren, Charles T., Datar, Strikant N., Rajan, Madhav T. (2011). Cost Accounting: A Managerial Emphasis, 14th edition. Prentice Hall.
Druri, Colin (2012) Management and Cost Accounting. 8th edition. Cengage Learning EMEA.