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Financial management

Would you like, to be a successful businessmen?

Better understand the trends of financial development and orientate yourselves in the processes taking place in the financial environment?

Then You have to choose the in-depth study of financial management sphere within the study program „Business Administration”.

The graduates will have acquired knowledge about the peculiarities of fund management at enterprises of different sectors, including the introduction of innovations, about the financial system and its work, about business support tools and crediting.

Financial management in the sectoral context

The purpose of the module:

Different branches companies have their own specifics in asset management, students will be introduced to it. The module provides knowledge about the financial and banking system, Financial Services provided by Credit Institutions, including crediting and support tools for entrepreneurs and business start-ups, who want to learn, how to prepare financial plans for receiving credit in a Credit Institution.

Subjects:

  • Management of enterprise assets in different enterprises (3 ECTS)
  • Financial Services of Credit Institution (1,5 ECTS)
  • Crediting and support tools for entrepreneurs and business start – ups(3 ECTS)

Production and service management

The purpose of the module:

The module is devoted to production and service provision processes, their common and different process of innovation implementation, risk identification, and mitigation.

Subjects:

  • Organization of production / provision of services (4,5 ECTS)
  • Innovation and risk management (3 ECTS)

Communication

The purpose of the module:

The module is dedicated to improving the use of language knowledge and communication in the professional environment. It promotes fluency development and accuracy of perception, improvement of communication skills, which help students to work confidently in the business world. It develops students’ ability to communicate in a wide range of business situations, applying the principles of professional ethics. It aims at improving the knowledge of foreign languages in basic skills such as reading, writing, speaking, and listening, as well as knowledge acquisition in key business areas such as marketing, management, finance, etc.

In addition, the module focuses on enlarging vocabulary used in the global business environment, as well as on the business correspondence, presentations, and skills needed to work in the business sector. Students will learn how to communicate efficiently in business meetings, presentations, negotiations, and express their opinions easily and confidently, which will contribute to their career development.

Subjects:

  • Applied language I (4,5 ECTS)
  • Applied language I I (4,5 ECTS)
  • Communication, presentation and ethics (3 ECTS)
  • Record keeping (1,5 ECTS)

Economics and Business Activities

The purpose of the module:

The module is dedicated to the acquisition of knowledge on the fundamentals of economic theory. It develops students’ ability to perceive and analyze the economic situation in the national economy, to orientate in the professional terminology and definitions in the economy, in the nature of macro and microeconomics processes on the national and global level. The module develops students’ ability to analyze supply and demand in accordance with the peculiarities of planning production, cost, and pricing factors. Students learn to analyze, compare and evaluate the current economic problems independently, basing on the acquired knowledge.

The module also is dedicated to the study of the methodology and techniques of business planning, to the expansion of knowledge in the business field, to the study of essence, objectives, and content of the business plan sections, to the study of modern approaches to business process modeling, arranging and presentation of a business plan.

Subjects:

  • Basics of Economics (4,5 ECTS)
  • Planning and launching of the business (4,5 ECTS)

Management

The purpose of the module:

Having learned the module “Management” the students will have the opportunity to gain knowledge of management processes in the enterprise. The module “Management” is designed to improve knowledge in the management field and to create and further develop the leader’s competencies for specialists in business / commercial activities. Students will have the opportunity to gain new and update existing theoretical and practical knowledge in the area of the organization’s management and its structural subdivisions. After mastering the elective parts of the module, students will be able to settle the issues connected with management functions in the field of interest, as well as to get an overview of the basic improvement principles of their management skills.

Subjects:

  • Organization management (3 ECTS)
  • Personnel management (3 ECTS)
  • Logistics (3 ECTS)

Law

The purpose of the module:

The module gives students basic knowledge and skills needed for practical application of legal norms in the field of commercial activities, labor law, emphasizing the bilateral legal relationship of employee and employer, the creation of social dialogue and settlement of disputes, as well as the use of normative acts in the sphere of environmental protection in enterprises. In the frames of the learning process, the basic institutions of commercial law are studied – an entrepreneur and commercial activities, the commercial register, a company, a subsidiary, a firm, the certain kinds of commercial representation, commercial transactions, and its legal regulation. Students master the legal regulation of labor relations, including the regulatory framework that governs contractual relations of an employee and employer, as well as the relationships that are closely connected to labor relations.

In the frames of the learning process, it is emphasized how the Latvian state policy in the field of labor protection is based on the priorities of health and safety of workers, thereby increasing the significance of the health preservation, improvement of working conditions, as well as the creation of a positive psychological climate in the workplace. This regulation is essential to accelerate economic and social progress in the country, as well as to regulate the business environment. It is connected with the requirements of effective labor protections, the state employment policy, and the business environment.

Subjects:

  • Labour law (3 ECTS)
  • Basics of commercial law (3 ECTS)
  • Environment, labour and civil defence (1,5 ECTS)

Finance

The purpose of the module:

The module provides information on how to keep records of enterprise transactions, about the legal regulations, and basic principles of bookkeeping. One of them, to ensure business continuity, and to demonstrate the essence of business – to work for a long time, with a positive result, taking into consideration the legal norms. Students gain an understanding of the tax legislation, calculation, and application of taxes and duties.

Students receive basic information about the financial indicators of the enterprise, its links, and the opportunities to identify further actions to eliminate the potential risk of bankruptcy. It improves the ability to understand the information reflected in the financial statements, to orientate in the financial and cash flows, and to plan further actions based on the analysis. Students will be able to identify, anticipate, and plan costs, as well as calculate the cost of goods or services.

Subjects:

  • Basics of book keeping (3 ECTS)
  • Taxes and fees (3 ECTS)
  • Financial analysis and management (3 ECTS)
  • Management accounting (3 ECTS)

Data Processing Methods

The purpose of the module:

This module is needed to familiarize students with types of data acquisition and processing methods, and the ability to display and process data using the information technology, to learn how to assess data reliability and received results, as well as to analyze the results and draw conclusions.

Subjects:

  • Information technologies (3 ECTS)
  • Mathematics in economics and management (3 ECTS)
  • Statistics (3 ECTS)

Marketing

The purpose of the module:

Module content covers a range of issues related to marketing activity in modern market conditions. The central marketing questions consider the comprehensive analysis of marketing and internal company environment, the process of developing, marketing components of the company’s development strategy, marketing decisions regarding the company’s product, pricing, promotion, and distribution. It provides the general scientific marketing basics, the principles of management of marketing information, and the organizational aspects of marketing activity.

Subjects:

  • Marketing (4,5 ECTS)
  • Research methods (1,5 ECTS)

Research

The purpose of the module:

One of the purposes of this module is to develop research skills. In the frames of this module, the students will be prepared for the writing of educational works and publications for conferences, creating scientific-practical research skills and motivating for self-development.

Subjects:

  • Business plan (1,5 ECTS)
  • Study paper (1,5 ECTS)
  • Practice (24 ECTS)
  • Qualification test and paper (12 ECTS)

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