Introduction:
Managerial accounting is an activity that provides financial and non-financial information to business managers and other internal decision-makers of an organization. This course examines how managerial accounting information is gathered, and how it is used by business professionals to make effective plans & decisions. Lessons such as fundamentals of managerial accounting, cost accounting concepts, and managerial accounting approaches will provide you with the concepts, procedures, and analytical skills you'll need to make informed decisions in today's challenging business world.
Targeted Groups:
- Managers
- Supervisors
- Staff from any function including the accounting department who need to improve their understanding, application, and techniques of the language of numbers and managerial accountant
Course Objectives:
At the end of this course the participants will be able to:
- Explain the functions of financial management.
- Define the four key financial statements: balance sheet, income, cash flow, and changes in owners equity.
- Interpret the financial health of a company or profit center.
- Master capital budgeting and cost-volume-profit analysis.
- Use financial information to manage the business or their departments.
Targeted Competencies:
- Accounting for business transactions
- Preparing income statements
- Interpreting balance sheets
- Analyzing cash flow statements
- Preparing adjustment entries
- Using debits and credits
- Applying international financial reporting standards
Course Content:
Unit 1: Introduction to Managerial Accountant:
- The Goals and Functions of Financial Management
- The Three Most Important Questions Answered by Finance
Unit 2: The Key Financial Statements:
- Income Statement
- Changes in Owner Equity
- Balance Sheet
- Cash Flow
Unit 3: Analysis of Financial Statements:
- Judging the Health of the Business
- Income Statement Ratios
- Balance Sheet Ratios
- How to Read Company Annual Reports
Unit 4: Cost Concepts and Decision-Making:
- Cost-Volume-Profit Analysis
- Breakeven Analysis
- Economic Costs versus Accounting Costs
- Marginal Analysis
- Cost-Based Pricing
Unit 5: Capital Projects:
- The Time Value of Money
- Cost of Capital
- The Capital Budgeting Decision
- Methods in Evaluating Capital Projects
- Sensitivity and Risk Analysis
Unit 6: Working Capital and the Financing Decision:
- Current Asset Management
- Sources of Short-Term Financing
Unit 7: Using Financial Information to Manage the Business:
- Making Business Decisions in Finance, Marketing, Production, and Investment
Unit 8: The Budgeting Process:
- Guidelines and Techniques
- Cost Control
