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Course detail
FP-EPOAcad. year: 2023/2024
The course is divided into six basic blocks that complement each other and introduce students to the basic functioning of business economics. The first block is basic, introducing students to the categories of business economics such as the nature of the enterprise, the legal form of the enterprise, which stakeholders influence the enterprise, what are the enterprise objectives, including the strategic objectives management system and the enterprise life cycle. The second unit focuses on the asset and capital structure of the enterprise, which factors affect the asset structure, what is liquidity, working capital and net capital, what the optimal capital structure should be, how to prepare a balance sheet. The third block is very closely related to the previous block, why financial and investment decision making is important for a business. Another fourth block focuses on production decision making in terms of cost analysis, revenue, profit, how to prepare profit and loss statement. Then on measuring the performance of the business and the perception of the business as a value creator. This is followed by the fifth block related to economic decision making, namely the importance of cost management and product pricing. The last block explains the necessity of control tools for the economic management of the enterprise.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Entry knowledge
Secondary school knowledge and skills.
Rules for evaluation and completion of the course
There is the oral examination. Skills of the student are tested on two tests. Two tests:TEST I (7.- 8. week): 20 pointsTEST II (11-12.week): 20 points Minimum number of points to get the credit: 25 points.The grade is given on the basis of two control tests and oral examination.
The checking during the semester is based on the completion of two tests. In the case of excused absence from seminars, teacher can, in justified cases, set a alternative condition - usually the procession of the alternative
Aims
The aim of the course is to introduce students to the basic theoretical knowledge of business economics and the interdependence of relationships in business practice. The economic aspect of the subject is emphasized in the lectures and the emphasis is placed on the acquisition of professional terminology. Students acquire professional knowledge and skills in business economic management, which are divided into six blocks and complement each other. Upon completion of the course, students will:
On the basis of the knowledge and skills acquired, students should be able to practically apply knowledge of business economics to lower functions in the enterprise or in the business itself. The course provides a comprehensive view of business economics and forms the basis for the teaching of related vocational subjects in the upper years of study.
Study aids
Prerequisites and corequisites
Basic literature
Recommended reading
Elearning
Classification of course in study plans
Lecture
Teacher / Lecturer
Syllabus
1. Basic categories of business economics.
Enterprise (legal form of business, functions of enterprise) and stakeholders of enterprise.Characteristics of corporate objectives. System of management of strategic objectives of the enterprise.Enterprise life cycle.
2. Asset and capital structure of the enterprise.
Enterprise assets (fixed and current assets).Factors affecting the asset structure.Liquidity. Working capital and net capital.Enterprise capital (own and external capital). Overcapitalisation and undercapitalisation.Optimal capital structure (average cost of capital - WACC).Balance sheet of the enterprise.
3. Financial and investment decision-making in the enterprise.
Fundamentals of corporate financing (sources of external and internal financing).Working capital management (cash cycle, net working capital analysis).Cash Flow Management.Inventory and receivables management.Investment decision making (time value of money).Evaluating the economic efficiency of investments.
4. Production activities, performance measurement and enterprise value management.
Revenue and costs, profit and loss and their interrelationships.Economy, economic efficiency, economic effectiveness.Measurement of business performance. Methods of financial analysis (analysis of absolute indicators, analysis of difference indicators, analysis of ratio indicators). Pyramid systems of indicators.Enterprise value management. Economic value added.
5. Economic decision-making.
Cost management (generic, purposeful cost breakdown).Costing.Breakdown of costs depending on the volume of production.Managerial concept of costs. Relationship between profit, production volume, price and cost.
6. Control tools of economic management.
Financial accounting.Analysis.Budgets.Internal audit.
Exercise