Financial Controlling

obligatory courses

Classroom

During the classes, students will be familiarized with the principles of operation and basic instruments of financial controlling in an enterprise.

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).

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.

Student after completing the course:

In terms of knowledge:

K_W01 Knows and understands in-depth research methodology and terminology in the disciplines of management and quality science as well as economics and finance.

K_W02 Knows and understands complex processes and phenomena occurring in various types of organizations and in the world around them, uses the theory of management, economics and finance to recognize, diagnose and solve problems related to key functions in the organization (operational, financial, personnel management) and their integration as part of the organization's financial controlling.

K_W03 Knows and understands in-depth economic theories and models regarding the functioning of organizations and the entire economy, including financial controlling.

In terms of skills:

K_U01 Is able to use the theory of the discipline of management and quality science as well as economics and finance to recognize, diagnose and solve complex and unusual problems related to key functions in the organization and integrate them within the financial controlling of the organization, using the appropriate selection of instruments and adapting existing or developing new methods .

K_U02 Is able to correctly interpret complex technological, social and economic processes and phenomena and their impact on the functioning of the organization and the entire economy, using the appropriate selection of financial controlling instruments.

K_U03 Is able to independently and collectively prepare analyses, diagnoses and reports as part of financial controlling regarding complex and unusual problems related to the functioning of an organization, sector and the entire economy, and present them communicatively, also in English - using advanced IT and communication tools.

In terms of social competences:

K_K01 Is ready to assess and critically approach complex situations and phenomena related to the functioning of the organization using financial controlling.

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.