Controlling

Financial Modeling:
Students:
- can prepare an integrated plan using software for a business.
- can create a financial and liquidity plan using software for a company.
- can calculate selected key figures using software for a company.
- will be able to create an investment plan using software and recognized business methods (e.g. net present value method, internal rate of return method).

Controlling:
The students
• Understand controlling as a management concept and can explain the management process and the tasks of managers and controllers.
• Can explain the key business objectives and the area of conflict between financial and non-financial objectives.
• Know the requirements for goal setting and can formulate goals independently.
• Are able to explain the main features of strategic and operational controlling and distinguish between them.
• Can explain and apply the meaningfulness and interrelationships of the individual components of integrated budgeting.
• Understand the budgeting process and can create simple budgets themselves.
• Know and apply simple operational controlling instruments.
• Know the fundamentals of corporate management with key figures and key figure systems.
• Can calculate and interpret selected key figures.
• Are able to explain and apply the balanced scorecard.
• Understand the principle of management reporting and can interpret reports.
• Can transfer the main areas and instruments of controlling to the challenges of smaller and/or young companies.

None

Part A: Spreadsheet basics
• Workbooks and spreadsheets
• Cells and cell ranges
• Variables and data types
• Basic commands (sums, statistical functions, if-then function, S and W reference, etc.)
• Basic applications (creating tables and charts, importing and exporting data, pivot tables, etc.)

Part B: Creation of an integrated financial plan
• Creation of a sales planning, cost planning and personnel planning
• Creation of an investment plan
• Determination of financing requirements
• Preparation of a profit and loss statement and a balance sheet
• Preparation of a cash flow statement
• Consolidation to an integrated financial planning
• Creation of a management information system (MIS)
• Carrying out sensitivity analyses

Part C: Management concept controlling
• Companies and their goals
• Controlling as the basis for successful business management
• Strategic and operational controlling
• Integrated budgeting system

Part D: Efficient corporate planning and budgeting
• Corporate planning as a core element of controlling
• Strategic planning
• Operational annual planning & budgeting
• Medium-term planning as a link between strategy and budget
• Modern planning concepts

Part E: Performance measurement and management reporting
• Corporate control with key figures and key figure systems
• The concept of the balanced scorecard
• Operational budget control and forecasting
• Management reporting
• Measures to improve financial performance

• Fairhurst, D. S. (2019). Using Excel for business and financial modelling: A practical guide. Hoboken: John Wiley & Sons Ltd.
• Horvath, P, Gleich, R., & Seiter, M. (2020). Controlling. München: Verlag Franz Vahlen.
• Hubert, B. (2019). Grundlagen des operativen und strategischen Controllings: Konzeptionen, Instrumente und ihre Anwendung. Wiesbaden: Springer Verlag.
• Rees, M. (2023). The essentials of financial modeling in Excel: A concise guide to concepts and methods. Hoboken: John Wiley & Sons Ltd.
• Rees, M. (2018). Principles of financial modelling: Model design and best practices using Excel and VBA. Hoboken: John Wiley & Sons Ltd.
• Weber, J., & Schäffer, U. (2022). Einführung in das Controlling. Stuttgart: Schäffer-Poeschel Verlag.

• Final exam and
• Term paper

• 33 % of the event is covered by eLearning. A combination between online phases (inductive method for the independent acquisition of knowledge and the practice of tasks) and presence phases (deductive method, in which assistance is given in the learning process and knowledge is imparted via frontal lectures) is used.