Name: Accounting & Financial Decision Making
Sectors: Accounting & Banking & Finance
In order for a manager to effectively perform their role they must have an understanding of accounting information, as accounting systems generate information that is used by both internal and external stakeholders.
Having a good understanding of accounting allows managers to communicate with the finance department, bankers, suppliers and even tax authorities.
Successfully completing this course will transform you into a manager who is confident while discussing and handling accounting and financial matters in the workplace, and help you as you move forward in your managerial career and take on senior roles.
Introduction to financial accounting; Generally Accepted Accounting Principles; fundamental accounting equation; recording of financial transactions and preparation of accounting statements through accounting equation.
Reading and understanding balance sheet, income statement and cash flow statement; Familiarizing all accounting terms that normally appear in financial statements.
Ratio analysis; Understanding relationship between four profitability drivers; Assessing financial health through credit scoring model.
Preparation of Cost Sheet in manufacturing and service industry; Job and process costing; Activity-based costing.
Behaviour of costs; Break-even analysis; Relevant costing approach for different decision making scenarios.
Preparation of operational and financial budgets; Comparing actual performance against budgets; Price and quantity variance; Controllable and non-controllable variance; Revenue and contribution variances.