Financial Management

Study Course Description

Course Description Statuss:Approved

Course Description Version:4.00

Study Course Accepted:01.11.2024 13:56:30

Study Course Information
Course Code:		LSPA_098		LQF level:		Level 6
Credit Points:		2.00		ECTS:		3.00
Branch of Science:		Sports Science		Target Audience:		Sports Trainer
Study Course Supervisor
Course Supervisor:		Signe Luika
Study Course Implementer
Structural Unit:		Latvian Academy of Sport Education (LASE)
The Head of Structural Unit:
Contacts:		LSPA, Brīvības gatve 333, Riga, LV-1006
Study Course Planning
Full-Time - Semester No.1
Lectures (count)		21	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		42
Classes (count)			Class Length (academic hours)			Total Contact Hours of Classes		0
Total Contact Hours								42
Part-Time - Semester No.1
Lectures (count)		8	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		16
Classes (count)			Class Length (academic hours)			Total Contact Hours of Classes		0
Total Contact Hours								16
Part-Time - Semester No.2
Lectures (count)		3	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		6
Classes (count)			Class Length (academic hours)			Total Contact Hours of Classes		0
Total Contact Hours								6
Study course description
Preliminary Knowledge:
Not necessary.
Objective:
To create in a the student an understanding of financial management elements. To provide an idea of the methods used in financial management. To help to be well versed in financial management mechanisms using practical examples.
Topic Layout (Full-Time)
No.	Topic			Type of Implementation		Number	Venue
1	1. Role of financial management in company management 1.1. Concept and nature of financial management 1.2. Objectives and tasks of financial management			Lectures		1.00	other
2	2. Concept and nature of finance 2.1. Finance 2.2. Financial system			Lectures		1.00	other
3	3. Management of public finances 3.1. Budget system description 3.2. Breakdown of budgets			Lectures		1.00	other
4	Latvian tax system 4.1. Taxes and duties, their payers 4.2. Basic principles for establishing an efficient tax system 4.3. Direct and indirect taxes 4.4. Tax (duty) rates			Lectures		2.00	other
5	5. System of credit institutions 5.1. Nature and functions of banks 5.2. Levels of the system of credit institutions 5.3. Nature of a credit and types of credits			Lectures		1.00	other
6	6. Financial mechanism of a company 6.1. Nature of company’s finances 6.2. Elements of the financial mechanism of a company 6.3. Role of financial resources in ensuring the efficient functioning of a company 6.4. Financial activities and objectives of a company 6.5. Concept of company’s operations			Lectures		1.00	other
7	7. Management accounting 7.1. Nature and use of management accounting in decision making 7.2. Costs and their classification 7.3. Prime cost			Lectures		2.00	other
8	8. Financial analysis 8.1. Nature of financial analysis, objectives, tasks 8.2. Types, principles and methods of financial analysis 8.3. Financial statements, horizontal and vertical 8.4. Analysis of coefficients in financial statements			Lectures		2.00	other
9	Insolvency forecasting 9.1. Concept and nature of insolvency 9.2. Signs and causes of insolvency 9.3. Systems of external and internal factors and assessment 9.4. Bankruptcy forecasting models			Lectures		2.00	other
10	10. Asset management 10.1. Fixed assets management 10.2 Current assets management			Lectures		2.00	other
11	11. Management of liabilities 11.1. Equity management 11.2. Borrowed capital management			Lectures		2.00	other
12	12. Investment management 12.1. Concept and nature of investments 12.2. Classification and structure of investments 12.3. Planning of investments 1 2.4. Determining efficiency of investment projects			Lectures		1.00	other
13	13. Financial planning of company’s operations 13.1. Planning of company’s operations 13.2. Budget planning			Lectures		2.00	other
14	14. Venture capital 14.1. Nature of venture capital 14.2. Comparison of venture capital and a bank loan 14.3. Types of venture capital 14.4. Risk management			Lectures		1.00	other
Topic Layout (Part-Time)
No.	Topic			Type of Implementation		Number	Venue
1	1. Role of financial management in company management 1.1. Concept and nature of financial management 1.2. Objectives and tasks of financial management			Lectures		0.50	other
2	2. Concept and nature of finance 2.1. Finance 2.2. Financial system			Lectures		0.50	other
3	3. Management of public finances 3.1. Budget system description 3.2. Breakdown of budgets			Lectures		0.50	other
4	Latvian tax system 4.1. Taxes and duties, their payers 4.2. Basic principles for establishing an efficient tax system 4.3. Direct and indirect taxes 4.4. Tax (duty) rates			Lectures		1.00	other
5	5. System of credit institutions 5.1. Nature and functions of banks 5.2. Levels of the system of credit institutions 5.3. Nature of a credit and types of credits			Lectures		1.00	other
6	6. Financial mechanism of a company 6.1. Nature of company’s finances 6.2. Elements of the financial mechanism of a company 6.3. Role of financial resources in ensuring the efficient functioning of a company 6.4. Financial activities and objectives of a company 6.5. Concept of company’s operations			Lectures		0.50	other
7	7. Management accounting 7.1. Nature and use of management accounting in decision making 7.2. Costs and their classification 7.3. Prime cost			Lectures		1.00	other
8	8. Financial analysis 8.1. Nature of financial analysis, objectives, tasks 8.2. Types, principles and methods of financial analysis 8.3. Financial statements, horizontal and vertical 8.4. Analysis of coefficients in financial statements			Lectures		2.00	other
9	Insolvency forecasting 9.1. Concept and nature of insolvency 9.2. Signs and causes of insolvency 9.3. Systems of external and internal factors and assessment 9.4. Bankruptcy forecasting models			Lectures		1.00	other
10	10. Asset management 10.1. Fixed assets management 10.2 Current assets management			Lectures		0.50	other
11	11. Management of liabilities 11.1. Equity management 11.2. Borrowed capital management			Lectures		0.50	other
12	12. Investment management 12.1. Concept and nature of investments 12.2. Classification and structure of investments 12.3. Planning of investments 1 2.4. Determining efficiency of investment projects			Lectures		0.50	other
13	13. Financial planning of company’s operations 13.1. Planning of company’s operations 13.2. Budget planning			Lectures		1.00	other
14	14. Venture capital 14.1. Nature of venture capital 14.2. Comparison of venture capital and a bank loan 14.3. Types of venture capital 14.4. Risk management			Lectures		0.50	other
Assessment
Unaided Work:
Practical works on the analysis of the state budget; calculation of the prime cost of services; based on a real example of a company, an analysis of the structure and dynamics of its assets and their sources, as well as the assessment of its financial standing and the forecasting of insolvency.
Assessment Criteria:
The lecturer is an adviser in learning theory and directing practical works. Students independently learn theoretical material. They independently analyse and assess situations, make decisions, substantiate their opinions by participating in discussions. Assessment of students, requirements for obtaining CP: 1. Work in practical classes – 30%. 2. Test – test, task – 70%. Test content: 1. Theoretical part – in the form of a test – 30% of the assessment. 2. Practical part – make calculations using the information provided – 70% of the assessment.
Final Examination (Full-Time):		Exam
Final Examination (Part-Time):		Exam
Learning Outcomes
Knowledge:		1. To set your own and team’s work goals by implementing them according to the defined business plan. To use financial planning and forecasting methods to implement a business idea. 2. To critically assess risks related to planned activities for the implementation of a business idea.
Skills:		Will know and will be able to use: 3. Financial management and economics. 4. Financial planning and forecasting methods. 5. Financial risks. Financial instruments.
Competencies:		6. Ability to determine own business model and adapt plans for achieving the set goals in a changing environment. Ability to carry out or supervise work activities that can involve unpredictable changes. 7. Ability carry out own professional activities in accordance with the chosen business model. 8. Ability to develop a business plan based on the developed model.
Bibliography
No.	Reference
Required Reading
1	Alsiņa, R. Vadības grāmatvedība: teorija un prakse / R.Alsiņa, K.Marinska, J.Bojarenko. Rīga: KIF Biznesa komplekss, 2011. – 244 lpp. (akceptējams izdevums)
2	Krogzeme, H. Finanses un nodokļi: mācību grāmata. Rīga: RTU izdevniecība, 2010. – 568 lpp. (akceptējams izdevums)
3	Par nodokļiem un nodevām
4	Likums par budžetu un finanšu vadību
5	Rurāne, M. Finanšu menedžments. Rīga: RSEBAA, 2005. – 384 lpp. (akceptējams izdevums)
6	Ārzemju studentiem/For international students:
7	On Taxes and Fees
8	Law on Budget and Financial Management
Additional Reading
1	Finanšu vadības rokasgrāmata. Rīga: Dienas bizness, 2004.
2	Kavale, L. Budžets un finanses: mācību līdzeklis. Rīga: LU Akadēmiskais apgāds, 2008. – 44 lpp.
3	Nodokļu politikas un administrēšanas pamati: mācību līdzeklis / L.Kavale, A.Joppe. Rīga: LU Akadēmiskais apgāds, 2008. – 78 lpp.
4	Saksonova S. Uzņēmuma finanšu vadības praktiskās metodes. Rīga: Merkūrijs, 2006. – 225 lpp.
Other Information Sources
1	Finanšu ministrija/Ministry of Finance
2	Likumi/Laws
3	Labklājības ministrija/Ministry of Welfare
4	Valsts ieņēmumu dienests/State Revenue Service