Overview:
In this course,the principles and techniques of accounting are explained.Also,the students would come to know about its uses in the planning and control of business organizations from a management perspective.Identified are the budgetary process and related performance evaluation techniques, cost-volume-profit relationship, product costing methods, Just-In-Time (JIT) manufacturing, and Activity Based Costing (ABC). Related theory and application will also be reviewed.
Prerequisite:
- Candidates must have their own laptop and a good internet connection.
- They must have an account on Skype.
Course Content:
Course topics will include the following:
- Control Systems, Cost Management Concepts and Cost Behavior.
- Traditional and Activity-Based Cost Management Systems.
- Organizational Design, Responsibility Centers, and Financial Control.
- Management Accounting Information for Activity and Process.
- Pricing, Product Planning and Investment Decisions.
- Control Systems and Management Accounting or Strategic Purposes.
- Performance Assessment over the Entire Value Chain.
- Motivation of Behavior in Management Accounting and Control Systems.
- Use of Budgets to Achieve Organizational Objectives.
Key takeways:
- Understand how managers use and analyze managerial accounting information to make decisions.
- Prepare an operating budget and understand where and how to acquire the necessary information
- Perform time value of money analysis using discounted cash flow technique. Interpret and explain the difference between net present value, internal rate of return and payback. Analyze a capital budget request.
- Collaborate with peers (co-workers) and communicate with instructor (manager) in a more professional and effective manner.